The volume of searches for ‘group protection’ has also jumped by a massive 86% since the start of the year.
This increase in online search engine enquiries suggests that more and more people are now researching ways to ensure that their dependents will be financially stable after they die – resulting in peace of mind should the worst happen. With many people feeling the increasing strains of financial responsibility, they appear to be taking action to ensure their mortgage would be paid, their children’s future education looked after and their cost of living would be covered if the main breadwinner died.
The figures also show that businesses are looking into the options of group protection for their employees, providing an extra safety net for their staff.
Karen Barrett, chief executive of unbiased.co.uk, commented: “These figures show more and more people are researching protection products online, and while some simple life cover policies are increasingly sold online, there is still a gap in the levels of life assurance held by the average person.
“There has never been a better opportunity for IFAs to showcase the value of getting professional advice, to ensure that individuals and businesses get the right levels of cover for them, and they can access all of the products on the market. An IFA can also ensure that the life assurance is written in trust so it’s out of the individual’s estate.
“With such a surge in online consumer searches, IFAs need to ensure their online activity reflects the additional services offered when advising on life protection. Checking your website is up to date with the details of the protection IFAs at your firm, adding a short article on the importance of protection in the current environment, and even explaining the various protection products available will keep your website ‘fresh’ and may help to ensure your firm appears higher up on the ‘protection’ search results.”