The need for a greater degree of product flexibility has been highlighted by research from The Syndicate.
The research group's report "It's all Down to Choice: Defining Tomorrow's Consumer" asked consumers about their awareness of protection and if they had found a product that met their needs.
Asked if they were more aware of personal protection products than a year ago, 49% of a representative UK sample was more concerned about protection than a year ago.
This compares to similar research in 2010 that found only 22% considering protection.
However this good news fell apart in the follow up question: ‘Have you found a product that meets your needs?'
Stuart Paton Evans, general manager, business development at Hannover Life Re, revealed that for the product people were most likely to look into purchasing, life, 28% had not enquired and 19% had not found a suitable product, with 53% covered.
For critical illness and income protection, 43% and 45% respectively had never looked into buying and 29% and 29% had not found products suitable.
Calling the figures "depressing" and blaming the unsuitability of current protection products for the internet, Paton Evans said: "People are deciding how they want to transact.
"Secondly they're telling us what we can do. It's just no good talking about products we have to talk about meeting people's needs - people's life stages."
Roy McLoughlin, senior partner at IFA MasterAdviser, commented: "I firmly believe people will seek advice. We should be looking at the online capability as our friend as people will gather initial information from the web then come to an adviser.
"What we need is an adaptability to existing products. People feel that they are being stuck with products that they can't change.
"If there were proper true multi-plans in the market, that people could adapt to their changing needs - this would be adding and removing elements - which some insurers would not like, then people would buy and have loyalty to companies.
"With correct and on-going serviceability we would not have so many problems. The RDR is all about engaging with our clients on a regular basis, which is a no-brainer anyway, as it leads to further sales," he added.
Peter Le Beau, chairman of the Protection Review, agreed.
He added: "It seems about one third of new business declared in the protection market is actually rebroking.
"If somebody comes in with a better or cheaper product and the adviser believes client is in good health, is it not incumbent upon them as the adviser to point that out to them?"
