"They can prioritise the type of cover they most need today, with the option to increase cover types and levels in the future when possible," adds Roberts.
Just having the conversation with the client might be enough to help them get a better handle on their finances, helping them prioritise budgets and decide what items are lower priority, adds Yates.
This is echoed by Georgia d’Esterre, executive head of marketing at National Friendly, who adds that it is key to listen and empathise, with a view to understanding needs, concerns and financial situations so that advisers can match their clients with the right outcome.
“Communication is key. As an adviser you need to explain all the options that are open to your client and why you’re suggesting certain ones, like index linking or a certain benefit period. You don’t want any of your advice, and ultimately their choices, to be a surprise at a time when it could matter the most – when they need to make a claim.”
Continuing to raise awareness and educate about protection is crucial, now more than ever, says d’Esterre.
“We must make protection accessible, affordable and for the masses. And actually now is a great time to do this because if we can really demonstrate the value that protection can, and will, have then should the worst happen, we will have helped someone protect their lifestyle, their family and their future at a time when the world is a very uncertain place.”
Kevin Carr is managing director and Suzanne Clarkson is associate consultant at Carr Consulting & Communications
