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Zifa says now is time to focus on protection

Zifa is telling IFAs the time is right to start selling protection plans.

The move is part of a strategic shift by the group to meet its aim of becoming market leader for protection products.

Zifa says IFAs have been concentrating on investment and pension business but it is now time to address the protection market.

It says IFAs have surrendered ground to tied salesforces as far as protection is concerned and the company is encouraging them to be more confident in this area.

Zifa is looking to cut rates significantly and is launching a range of new products which will be introduced over the next few months.

Protection marketing director Kevin Pearce says at a time when margins are being squeezed in the pension and investment market, the protection market can offer better returns.

He says, like other product providers, Zifa is looking to shift its business into more profitable markets.

Pearce says: “The protection market is not being squeezed as much as the investment and pension markets. This move is about IFAs feeling more confident and competent about selling protection. To tap into the market, there may need to be a return to good old-fashioned selling. IFAs should see selling protection as an honourable profession.”

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