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Poll: Are you selling more protection business since this time last year?

Anna Sagar
Written By:
Posted:
April 5, 2024
Updated:
April 5, 2024

Protection, whether that be income protection, life insurance or critical illness cover, has often been an underutilised tool in the broker arsenal, but the muted mortgage market could be changing that.

Although the latest figures from the Bank of England show that mortgage approvals have returned to pre-mini Budget levels, there is still muted mortgage activity compared to normal.

As a consequence, anecdotally, some brokers are looking to maximise their transactions by increasing protection so they can diversify their income. Some are also going through their customer banks to see if there is protection that can be sold there as well.

However, is this widespread or are there other avenues where brokers are diversifying their incomes?

So, in this month’s Mortgage Solutions poll we are asking whether brokers are selling more protection business than they did the year before.

 

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