Advisers believe simpler underwriting and greater incentives on policies are ‘paramount' to addressing the ‘protection gap', Avelo research has found.
In a poll of advisers on the Avelo Exchange, over a third (35%) thought simpler underwriting could help address under protection in the market and boost sales.
A further third (35%) thought that incentives, such as linked reimbursed NI contributions, could help with the issue.
One in four (27%) advisers also believed that effective financial education at all levels could help alleviate the pressure.
When looking at demand for protection products, unsurprisingly half (49%) of advisers suggested that life insurance was the most popular product this year.
However one in five (21%) advisers suggested mortgage protection products received the strongest demand in 2013 which may be down to the rising mortgage applications and sales so far this year.
Dave Miller, head of portal at Avelo said: "Falling protection sales are a major issue for the industry and addressing this is important to make sure the market gets back on the right track.
"Our survey shows that product design and financial education have the capability and backing to lead the way and help revitalise the market. We have recently seen initiatives such as the Pink Network's new graduate scheme, helping to bring new blood into the industry to engage a younger consumer and narrow the protection gap.
"It is important that advisers explore all clients' protection needs, as the potential loss of earnings for the main breadwinner in a family really needs attention. With mortgage sales and applications rising so far this year, an adviser must explore the possibility of discussing protection policies to go alongside them.
