Protection advisers report growth in sales – PRIMIS

Ninety-five per cent of surveyed advisers have reported growth in protection sales, PRIMIS has revealed.

The poll carried out by PRIMIS, which is part of the LSL Group, found that 69% of respondents believe greater awareness of the need for protection cover post-COVID had driven buyer interest and additional sales.

Meanwhile, a further 10% also attributed improving affordability as a factor to this rise in deals.

Life insurance was found to be the top product being taken up by customers, followed by income protection and critical illness.

PRMIS also found that family protection and private medical insurance also featured among the products that customers were more focused on.

Looking ahead, 95% of advisers stated that they felt optimistic about the future of the market.

Director of strategic partnerships at LSL Financial Services, Craig Hall, said: "It’s great to see that customers are recognising the increasing importance of protection, above and beyond their mortgages.

"[This year] has been publicised as a big year for mortgage maturities, with the second half of the year seeing the majority of the activity. This trajectory will continue into 2026. We have also seen an increase in purchase activity during the first half of the year following reductions in the base rates, SWAP rates and mortgage pricing, which reduces borrowing costs providing more disposable income to address protection needs.,

"Whether borrowers are coming off five-year deals or two-year deals, they are likely to see their monthly repayments vary significantly, some borrowers may face payment shocks whilst others will see a reduction in their monthly mortgage payments. This highlights the need for independent mortgage and protection advice."



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