Nearly a third of advisers have reported increased demand for their services on the back of the pandemic, according to research1.
A total of 39% say their clients have sought advice about income protection and 36% have seen higher demand for critical illness cover.
The increase in demand is likely being driven by a desire to have financial safety nets in place due to health concerns and economic uncertainty, prompted by the pandemic.
Mortgage advice on the up
More than two-thirds (67%) of advisers have also seen increased demand for mortgage advice, supporting Bank of England figures that show UK mortgage levels are at their highest for 13 years. The Stamp Duty holiday, alongside rising demand for larger properties with more outdoor space, have helped boost the property market.
Get in touch
Since the onset of the pandemic, there has been a surge in demand for protection insurance, as people focus on their health and finances. Protection has provided a lifeline for many families facing uncertainty. Many insurers have adjusted their application processes and introduced new questions around COVID-19. If you’re looking to get the right protection cover in place for you and your family, please get in touch.
As with all insurance policies, conditions and exclusions will apply
Catch up on our other blog posts:
Life cover ‘myths’ prevent people from taking out much-needed insurance, according to research1. A survey from a price comparison site revealed that 40% of adults with dependent children have not yet taken out life insurance. When asked why they had not taken...
A common misconception about protection insurance is that you don’t need it unless you have a mortgage and children. So prevalent is this myth, in fact, that less than 20% of tenants have insurance in place (whether individually or through work) that would cover...
The number of people renting in the UK is growing all the time. Yet according to a report1, less than 10% of tenants have individual protection in place to cover their rent if they were unable to work due to illness. This compares to 58% of mortgage holders who have...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Or call —02380224925