Jacob Fay, protection specialist at John Lamb Hill Oldridge, reviews five of the most common consumer misconceptions about, and objections to, taking out life insurance cover, and how advisers can address these concerns.
According to recent research[1], 71% of Brits fork out for a monthly subscription service such as Netflix or Amazon Prime - that's nearly twice the number that pay monthly premiums for life cover. While 60% of UK adults agree that life insurance is important for looking after family, just 35% currently hold a policy. One third of those without cover cited cost as the reason. Clearly insurance myths persist, but professional financial advice can educate clients by busting the most prevalent myths and breaking down client objections, replacing them with the peace of mind that comprehens...
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