The trouble with protection, argues Brendan Llewellyn, is your money can feel wasted unless something horrible happens to you. The sector needs to evolve and, he points out, it is …
That many consumers have inadequate or no life assurance and the overwhelming majority do not have any income protection cover is well documented. Reasons why? In discussions over many decades, I have encountered quite a list: * Consumers are ostriches - they don't like to acknowledge bad things may happen * Consumers are scared of dying or becoming very ill so they give the subject a swerve * Advisers prefer more interesting areas, such as investment * Advisers focus on older clients who are capital-rich and have less need for protection * Mortgage advisers used to sell prot...
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