Does everyone need protection? Are the products available suitable for their needs?
We commissioned our State of the Protection Nation research to find out how people felt about their own protection needs and the industry as a whole.
Now in its second year, our State of the Protection Nation research looks into public perception of the protection industry and the suitability of its products along with adviser confidence in the industry moving forward.
We attributed scores to the questions asked in the research (2,002 nationally representative UK adults (aged 18+) and 200 advisers) which gave us an overall score that we call the State of the Protection Nation Index.
Consumer confidence has remained stable over the last 12 months with the consumer index rising by just one point since last year. Adviser confidence fell by just one quarter of a point over the same period. These rankings suggest that advisers remain more confident in protection products than consumers.
The general message throughout the report is that customers seem to be aware of the protection covers on offer, but converting that awareness into a sale is still proving difficult. Many want to protect their lifestyles and loved ones, but advisers still have to overcome barriers to close the sale. By working together, we can help you overcome these barriers with the tools and support we have available.
The State of the Protection Nation is part of Royal London's CPD offering. Visit the CPD hub to recieve your certificate once you have finished reading the guide.
Customers had many reasons for not taking out protection. Our marketing studio can help you to overcome these objections with personalised sales aids and reports.
The report highlights that cost is the biggest reason for not taking out protection. Our suite of tools can help you to show your clients just how little protection could cost.