22 PROTECTION TOMORROW
Meeting protection targets can be as simple as asking how you can help
When all around is either new and unknown , as we have seen over the last twelve months and more , protecting against the unexpected has never been more important .
Makayla Everitt
Head of SimplyBiz Mortgages
The last months have brought with them a range of emotions from fear , concern and uncertainty to hope and expectation , but what the pandemic has done , is ensure that your clients are highly likely to be more open to listening to the ways you can protect them and their families . I would also suggest that the first step on that journey of discovery is for you to make the first move in offering your help and support .
I firmly believe that the greatest challenge for advisers now is not starting that protection conversation , as was seen pre- 2020 , but the fact that many intermediaries now have less time to focus their energies in this area and few of them are pure protection specialists . As you would expect of us however , we have a solution .
Over several years , we have helped many members surmount their hurdles , supporting them with detailed support regarding how to save time to ensure they can support their clients with the protection insurance they need .
Our industry , despite a brief stuttering start , has continued to move forward during this period as the traditionally hard-hit markets in some areas have bucked the economic trend . You only need to look at the housing market to see the reversing trend , as it continues to flourish as do the growing investment portfolios for those that have been able to add significant sums . However , there is a distinct divide in some of our client bases and from their perspective , there are the two sides seen in those that have managed to save and reduce their outgoings by working from home , alongside those who are now struggling to make ends meet , whether that be through the uncertainty that extended furlough has brought , those with increasing mental health concerns and those that have lost their jobs , and in some cases their businesses , due to the length of lockdown . If I were to ask a simple question : who should you help or who needs your help to most ?
The answer might surprise you as its simply – everyone .
In my early years , it was my grandmother who instilled into me that I should help as many people as I could , that something is better than nothing and to always talk a problem through , never ending the day with worries or annoyance . My father even now reminds me to be fair and honest and I try to take these principles with me when making decisions every day . In many conversations with advisers and product providers alike over the last twelve months , I can assure you that your clients need your help , as a number will be having ‘ what if ’ moments and you as their adviser are best placed to help them .
Recent research has shown that many clients don ’ t ever remember being spoken to about protection , and from my perspective , this highlights that they now don ’ t know where to turn to get the help they would welcome with open arms .
Initial client rejection can mean that they are discounted from regular discussion , at best marked for the future , assuming that customers will say no once again . That , however , really isn ’ t a safe assumption as circumstances change and as advis-