Half of financial advisers who took part in a recent survey report an increase in protection sales since Covid-19 hit.
More than 8 in 10 advisers (82%) say that the impact of the Coronavirus pandemic are now “part of every protection conversation.”
A study for protection provider Guardian found that protection enquiries from new and existing clients have risen.
While enquiries and sales have risen advisers are split about the impact of Covid-19 on revenue.
Some 57% have seen no fall but 38% have seen a loss in overall revenue. This is less severe than feared, says Guardian. In its last study six months ago 56% predicted a loss in revenue
Of the 316 advisers surveyed, 76% of advisers say clients are more willing to discuss protection than before the pandemic.
Guardian’s research also revealed that advisers were generally discussing protection more frequently.
The latest findings show 85% of advisers who previously “didn’t normally talk about protection” are now doing so, up from 83% in the summer.
Jacqui Gillies, Guardian marketing and proposition director, said: “Half a year on from the initial shock, 76% of advisers report clients are still showing increased willingness to discuss protection.
“This is the single most important change we’ve seen in client behaviour for years and it’s persisting.”
• Guardian surveyed 316 advisers in October.
