The Intermediary – February 2026 - Flipbook - Page 72
P RO T E C T I O N
Opinion
The gap between
awareness and
action still matters
A
sk most advisers
about protection
and you will hear
the same thing.
Clients generally
know it maers, but
they rarely feel any urgency until
something forces the issue. By that
point, options can be more limited
or more expensive.
That gap between awareness and
action sits at the heart of many
protection conversations. Mortgage
advisers and appointed representatives
(ARs) working across the protection
industry see it regularly, particularly
where life cover or income protection
plans have not been reviewed for
several years.
Misunderstandings
Employer benefits are oen the first
assumption. Clients will point to
death-in-service or basic accident
cover and assume it fills the gap. In
practice, those benefits are usually
limited, tied to employment, and
rarely aligned with real household
costs. Once mortgages, childcare, or
long-term commitments are factored
in, the shortfall becomes obvious.
Product confusion plays a role too.
Accident-only income protection
is a common example. Clients hear
the phrase “income protection”
and assume broad cover, without
appreciating how narrow accidentonly policies can be.
Whole of life policies raise different
questions, oen around why they
were set up in the first place and
whether they still make sense within
the wider insurance market. None of
this is unusual. These are recurring
conversations, not edge cases.
Protection tends to land beer when
it is linked to something tangible. A
new mortgage, a growing family, or a
70
The Intermediary | February 2026
change in employment status usually
sharpens focus, particularly when
conversations turn to life insurance as
part of the lending discussion.
Mortgage advisers are already
involved at these moments, which
makes protection a natural extension
of the discussion rather than a bolt-on.
Where things oen fall down
is treating protection as a single
conversation. Many clients need
time to sit with the idea. Revisiting
life cover or income protection plans
later, once the immediate transaction
has seled, oen leads to more
realistic decisions.
Advisers who are comfortable
returning to the topic usually find
the conversation becomes easier
over time. Confidence comes from
repetition, not from perfectly
phrased explanations.
Cost is the objection advisers hear
most, but it is not always what it
seems. Clients are oen reacting to
uncertainty rather than the premium
itself. When the cover is presented as a
single figure with lile context, it feels
expensive by default.
Breaking protection down helps.
Layering life cover with income
protection, adjusting benefit levels, or
explaining how accident cover fits into
the picture can make premiums easier
to digest.
Talking openly about loaded
premiums, renewal commissions, and
the potential impact of clawbacks also
removes suspicion.
In practice, clients commit when
the numbers feel proportionate and
when they understand what the cover
would actually do if it were needed.
Regulatory frameworks
The regulatory regime shapes
how advice is delivered, whether
advisers like it or not.
OLLIE POPHAM
is senior manager,
sales at Cavendish Online
Confidence comes
from repetition, not
from perfectly phrased
explanations”
Consumer Duty has changed how
protection advice is scrutinised,
particularly within larger distribution
channels where consistency is more
closely monitored. In practice, this
can create tension for advisers who are
trying to follow the process without
leing conversations feel rehearsed.
Clients are usually less interested
in the regulatory framework behind a
recommendation and more interested
in why it makes sense for them at that
point in their lives.
Keeping protection relevant
Most clients are not chasing ideal
solutions. They want reassurance that
their financial security would hold up
under pressure.
This is where advisers earn trust.
Real examples, plain explanations,
and a willingness to revisit protection
conversations over time tend to have
more impact than detailed product
comparisons. When protection is
treated as part of the broader advice
relationship, rather than something
squeezed in alongside specialist
lending cases or bridging finance,
engagement improves.
Protection rarely dominates
meetings, but when it is ignored, it
is oen missed later. Advisers tend
to understand this instinctively,
even when clients are reluctant to
engage with it. ●
