New opportunities for advisers are developing within the income protection market, despite the fall in public confidence brought about by the mis-selling of payment protection insurance (PPI), according to independent financial research company Defaqto.
In its latest free guide for advisers, Defaqto has found that the number of short term income protection (STIP) products available to consumers has almost doubled in the last 24 months from 20 in 2009 to 39 in 2011.
Defaqto says that because of the current economic environment, the potential exists for advisers to actively promote the customer-focused benefits of STIP – and long term income protection – which protect people’s lifestyle expenses rather than just their mortgage payments.
Ben Heffer, Defaqto’s insight analyst for life and protection, said: “Despite the well documented problems with PPI
