This means that advisers now need to find new ways to engage with clients and get them to think about protection. With the state providing ever less support, and further cut backs planned, it has never been more important for advisers to have that conversation with clients. So how can brokers broach these delicate topics in a relevant way? Here I look at my top five ‘hooks’ that advisers can use to start those conversations:
Awareness days
Awareness days help to bring the risk of specific illnesses to the fore of people’s minds. They typically feature heavily in the media, and charities release statistics and hold events to raise the profile of these issues. This can result in clients being more open to discussion around the subject, making them a suitable time to discuss protection.
Provider content/tools
Providers often release content to help brokers approach these subjects. These can include tools, such as Legal & General’s Life Insurance Calculator, or Value of a Parent Calculator, which can help quantify the financial implications of the risks that consumers face. Customer testimonials can also be used to show policyholder experiences and illustrate that cover can be there for them when they need it most. Legal & General’s ‘Deadline to the Breadline’ research is another piece of content that illustrates the importance of income protection.
Family event
Events in the family such as births, marriages, deaths and divorces can be used as a prompt to get clients thinking about their future and the ways in which they can protect loved ones should the worst happen.
House purchases/remortgages
Clients are already in the midst of planning their future when making a major life decision such as buying a house. This can make for a perfect time to bring up protection. However, with first time house purchases typically happening later in life, it’s important to not rely solely on this event to approach clients about insurance.
Yearly reviews
It is, of course, paramount to ensure that your clients’ level of protection is up-to-date. Circumstances are always subject to change, and your clients’ current needs may look entirely different in a year’s time.
