The network recently shook up the market by introducing mandatory protection stress testing on every mortgage application and will now apply the same standard to its own application process.
Pink explained it had introduced the new conditions to ensure brokers could practice what they preached and were better-placed to talk to clients about the product.
It added that by creating such a policy its advisers could be prompted to put the safeguards in place to protect themselves should they be unable to work and earn an income.
Head of Pink Mark Graves (pictured) said initial feedback was positive and advisers were agreeing with the network’s stance.
He said: “It is inconceivable to me that advisers joining this network haven’t taken care of their own financial situation. I’m not only concerned by someone exposing themselves to the risk of being unable to earn an income, but also their ability to sell this type of protection if they themselves have not considered how they would cope.
“The fact is that currently only 7% of mortgages are sold with income protection. This is why we launched our initiative to ensure all our advisers now talk about income protection at the first meeting with their clients.”
