The Intermediary – October 2025 - Flipbook - Page 73
Making the conversation count
So, how can advisers make these conversations
meaningful and overcome common objections?
Vaughan says: “The most effective strategies
combine empathy with education.
protecting
clients from
catastrophic
consequences
“Brokers who use real-life case studies and
scenario modelling can help clients visualise the
impact of being unprotected.
“Tools like CIExpert and iPipeline are invaluable
– they allow brokers to compare products not
just on price, but on quality and underwriting
Sally Waterfield ,
chief marketing
officer at
National Friendly
flexibility. These tools also support Consumer
Duty by helping brokers evidence suitability and
value, especially for clients with complex needs.”
Harper echoes this focus on specialisation
and sensitivity, noting: “As protection specialists,
we have expertise across all types of protection
insurance and insurer offerings. We have
introduced more specialist teams who are more
experienced in advising particular customer
segments and handling more complex cases.
“With greater regulatory focus on vulnerable
customers, we're mindful of financial
vulnerabilities as well as health-related ones.
“For us, it's all about knowing your customer,
not being afraid to have those more sensitive
conversations, and the confidence that we
possess through dealing with these issues on a
day-to-day basis.”
Lakey emphasises the importance of clear
communication, pointing out that plain English
is essential, because people often slip back into
using industry-specific jargon, which can seem
like a foreign language to many.
Farrell emphasises that the right adviser
tools can make protection discussions more
meaningful. For example, LV='s Risk Reality
Calculator enables advisers to produce
personalised reports that help clients see
protection gaps they might not be aware of,
making it easier to initiate informed, tailored
conversations.
Formal referral processes and digital solutions
F
or self-employed individuals, contractors,
and those with complex incomes or adverse
credit histories, securing a mortgage is
already an achievement. But without
robust protection, that hard-won home
remains vulnerable.
Non-standard mortgage borrowers can be overlooked
in protection conversations, yet they face some of the
greatest financial fragility when illness or accident
hits. National Friendly’s new 'Bruised Britain' research,
surveying 5,000 adults, shows that 29% of self-employed
people in the UK have never considered what they would
do in the event of a non-fatal accident that impacted
their earnings. Only 5% of self-employed people have
income protection, and only 3% have accident-only
income protection.
Advisers must treat protection as a core part of
affordability discussions rather than an optional extra.
Rising living costs squeeze household budgets, making
even a short-term loss of earnings catastrophic for those
with irregular pay, complex incomes or adverse credit.
Products that are affordable and accessible, such as
accident-only income protection, help get people with
diverse needs onto the protection ladder when standard
underwriting excludes them.
The protection gap among non-standard borrowers
isn't only a risk, but an opportunity to support those
who need it the most.
are also leading to better results for clients and
businesses alike. LV=’s 24/7 pre-underwriting
typically costs about five-times more than life
service allows advisers to obtain indicative terms
insurance, as the likelihood of being diagnosed
for clients with complex needs, helping them
with a critical illness is greater than that of
set realistic expectations early in the process
experiencing an early death.
and improving conversion rates. This immediate
He says: “Highlighting the numbers of
access to underwriting information enables
claimants each year – almost 21,000 in 2024 –
advisers to have more confident and informed
and asking about friends and family who have
conversations with their clients.
received diagnoses can help to personalise the
Overcoming objections
Concerns about affordability and eligibility are
issue and impart an element of reality into
the conversation.”
Harper continues: “A common misconception
frequently raised. Lakey suggests a practical
is that protection ‘won’t pay out’ or ‘isn’t for me’.
perspective, noting that critical illness cover
Being able to relay real claims examples and case
p
October 2025 | The Intermediary
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