Price is not right

The number of people buying protection is so low because price is such a significant factor, according to a survey commissioned by the Personal Finance Society (PFS) in co-operation with the annual Protection Review Report. Advisers believed price was the reason the take-up rate was low rather than product complexity. Tim Eadon, chief executive of PFS, said the advisers questioned thought that term assurance, critical illness and income protection would be "the big products" for this year, while long term care and payment protection insurance ranked much lower in their priority listings.