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Financial advisers are getting into PMI

03 February 2022

In research undertaken by Defaqto in October 2021, advisers were asked to indicate which individual protection products they use in their recommendations. Unsurprisingly, term assurance (level and decreasing), critical illness cover and income protection insurance were the most popular products with similar levels of support to previous years. Sadly, family income benefit and whole of life assurance received less support this time. However, an interesting development is the increased level of support for private medical insurance (PMI) among this sample of respondents, who were for the large part general practitioners and mortgage brokers, not PMI specialists.