Purchasing property is the top trigger for clients to take out protection, a survey of IFAs has revealed.
However only one in twenty advisers said income protection (IP) was the most enquired about product and the one they sold the most, according to the Scottish Provident research.
The provider's Financial Safety Net report questioned more than 900 intermediaries with 92% responding that buying property a was major reason for purchasing protection.
Having children (80%) was the second most common trigger, while nearly three in five (57%) say it is because their client simply wants peace of mind about the future.
The remaining top ten triggers for buying protection were:
• change in personal circumstance like marriage or divorce (53%),
• they or family member had critical illness in the past (43%),
• death of a family member (41%),
• death of a close friend (37%),
• lost their job and looking to replace company benefits (26%),
• got a new job (9%),
• previous financial difficulties (6%).
Three quarters (76%) of IFAs state life insurance was the most common policy clients asked about without being prompted, with only 10% saying it was unemployment benefit, 9% critical illness and just one in twenty (5%) IP.
In terms of which protection products clients go on to take out, over four fifths (82%) of IFAs said that their clients are most likely to take a life insurance policy.
Just 3% said unemployment benefit is their most sold, with critical illness (9%) and income protection (6%) slightly better.
Susan Barclay, head of marketing, Scottish Provident, said: "Our research confirms that IFA's clients are mainly prompted to take out protection products when they experience huge life changes such as buying a property or having children.
"However, while we all hope the worst won't happen, consumers often need protection when they least expect it so it's vital they are prepared for the future regardless of their current situation.
"By building their own financial safety net Britons can safeguard themselves financially for the future, and by speaking to an IFA they can get the right plans in place for their individual needs," she added.
