As part of this month’s ‘In Focus‘ series across IFA Magazine’s New Insurance & Protection, Jamie Page, Head of Protection Distribution at The Exeter, explores why empathy-led conversations remain essential in an increasingly digital advice journey, and how advisers can use key moments such as remortgaging to re-engage clients around protection, financial resilience, and long-term support.
You might have noticed that technology has become a much bigger part of the advice process than ever before. Your clients probably now do their own research on comparison sites and ask AI for suggestions as to what products they should consider before coming to see you. But technology works best when it offers support – not when it replaces the human connection that clients value.
Technology supporting human conversations
Technology is particularly good at spotting patterns and triggers. For example, when websites ask for key dates – such as when your client’s insurance policies are due for renewal – technology can signal that a policy is ending. This tech might prompt an automated email, a reminder to search online, or a suggestion to review the cover. But while technology can recognise a date, only a human adviser can understand what that milestone represents in someone’s life.
That distinction matters when discussing mortgages and protection. Mortgages and life insurance often go hand in hand given the significant financial commitment a mortgage represents. Choosing to put life cover in place that aligns with a client’s mortgage can help to ensure that money is available to help support their loved ones if they die during their policy term. But what about keeping up with mortgage payments if they became too ill to work?
Being unwell and unable to work for a long time happens more frequently than your clients might realise. Data shows that close to two-thirds (62%) of adults aged 25-34 have taken extended leave from work. And this is why conversations around income protection are equally important when discussing mortgages.
When clients are healthy, keeping up with mortgage repayments can feel like just another part of daily life. But by talking to them about what really matters – their priorities, responsibilities, and tolerance for risk – you can help paint a clear picture of what they stand to lose if they were unable to work for a prolonged period.
By explaining the practicalities of income protection, what policies cover, and how quickly they could pay out, you can help clients understand how this cover could support them in maintaining their mortgage repayments and financial stability when it matters most. Reminding clients of the purpose of their cover at remortgage is equally valuable.
The mental load
As clients approach a remortgage, they will already be thinking about their long-term financial commitments. And while it’s likely that your client will already be mentally stretched with different mortgage options, by framing protection as a normal part of the mortgage review process, it can be made to feel like an extension of the same conversation.
Asking clients for a protection ‘sense check’ is a great way of broaching the topic and checking the cover they have remains suitable for their new mortgage. After all, increased monthly payments are common at the point of remortgage and could alter affordability and financial resilience.
With the ongoing cost-of-living pressures, your client may have cancelled their protection plans altogether. Perhaps they could no longer remember why they took out protection and have decided to stop paying their premiums. Or perhaps it was an expense they felt they could no longer afford.
And if your client does have protection in place, checking whether it’s still fit for purpose is critical. Does their current protection cover the full remortgage amount, and is the term long enough?
Behavioural barriers to revisiting protection
It’s natural for clients to believe they’re adequately protected simply because, at one point in time, they were told their needs had been met. But circumstances change, and so do products. Reassurance from you, as their adviser, can make the difference between having cover or a policy being cancelled.
So, when a client says they already have protection in place and only need to remortgage, that may be true, but it’s just as likely that their existing policies no longer reflect their current situation. Clients are human, and humans typically avoid uncomfortable conversations around changes in health or personal circumstances.
This is where having empathy-driven conversations matters. As an adviser, you’re expertly placed to guide your clients through uncertainty, reflecting what they have already stated as important to them and showing just what they stand to lose if it weren’t protected. You have the skill to ensure that your clients’ protection needs are fit for purpose and remain up to date as their lives change.
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