Thirty six per cent of advisers surveyed say protection will defy the recession and increase over the coming quarter. However, a further 45 per cent expect sales to remain the same.
The same survey found 27 per cent of advisers working with L&G’s mortgage network expect mortgage business to get better over the next three months, while a further 40 per cent expected a flat trend.
L&G director of housing Stephen Smith says: “At last, after a year of falling adviser confidence, our data shows a slight upturn in sentiment. The dramatic cuts in the bank base rate have played a part in the newfound confidence, but it is only significant if it is reflected in consumer behaviour.
“But whatever the case, protection remains extremely important for advisers and consumers alike. For a product that is sold rather than bought, maybe advisers are finding that the recession is making their clients more receptive to the idea of protecting their debt and income.”