Mortgage related protection sales - victim of cost of living crisis?

Journalist: Samantha Downes, Currently at the I (business editing some Sundays (freelance) and Mortgage Solutions

ended 22. July 2022

Hi - we ran a poll in Mortgage Solutions which appear to show sales of protection are down.

IS this what you are experiencing, are borrower that cash strapped they can't afford to insure their mortgage?

How are you selling protection or are you not so much?

Any other thoughts on protection and. mortgage borrowing welcome.

Thanks in advance

1 responses from the Newspage community

Cash strapped borrowers will inevitably look to cut out insurances they deem as unnecessary. An adviser's role is to ensure that informed decisions are being made, and that the importance of having affordable insurance cover to cover the unknown is not swept aside without understanding the risks. The economy is in a shambles and finances are tight for most people, but imagine how much more difficult it would be in the event of a death, critical illness, serious accident or injury? When budgets are tight, making sure the recommendation presented is truly affordable is key to it being sustainable. If not, the client will just cancel the policy a few months later to save money.