Almost a third of homeowners have not thought about buying life cover, according to Protection Review research.
The latest Protection Review consumer research findings, revealed at a conference in London last week, also showed that out of over 1,000 consumers polled, 34 per cent feel that if they were to lose their income, they could not survive financially for more than four months.
Research among 318 Personal Finance Society members found that 52 per cent believe the retail distribution review will result in more advisers specialising in protection.
Eighty-two per cent of PFS members rated better and faster service as important compared with 60 per cent who opted for marketing support and 52 per cent who rated technical training highest.
Forty-six per cent of advisers believe that price is the key element in any new product, with 39 per cent choosing adviser communication and 32 per cent saying innovation in design.
Highlights from the consumer and industry research were announced alongside the Protection Review award winners at the review dinner.
Exeter Friendly took the award for innovation while Bupa won the online user experience effectiveness award.
Master Adviser senior partner Roy McLoughlin was awarded the individual protection adviser of the year award and protection intermediary of the year went to Direct Life & Pensions. Group Risk Development won organisation of the year, Zurich was underwriter of the year and Direct Life & Pensions sales and marketing director Neil McCarthy was personality of the year.
Mail on Sunday personal finance editor Jeff Prestridge won the award for outstanding contribution to protection journalism and the lifetime achievement award went to John Joseph for his work in the critical-illness market.
Protection Review chief executive Kevin Carr says: “We would like to congratulate everyone for their efforts in making tomorrow’s industry better.”