On the day two of Income Protection Action Week (IPAW) 2024, mortgage and protection experts discussed the common mistakes in advising on income protection (IP) and how to avoid them.
Data from IPTF members, Legal & General and LV=, showed that 71% of the working population have some sort of debt, one in 10 with a debt other than a mortgage pay nothing off it each month. Matthew Chapman, the protection coach, discussed how to tweak the advice process to achieve better outcomes for advisers and their clients. He said that biases and fear of rejection means advisers tend to offer the client ‘exit ramps', almost talking the client out of taking the cover for whatever reason. "When they lack that conviction, that confidence, there's subtle changes to their tone of voic...
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