He said: “There has been much debate over the future of ASU and PPI following the miss-selling scandal and resultant Competition Commission review.
"But there is still a strong future for ASU insurance. Whilst long term income protection/PHI is a key element to your clients’ portfolio of protection policies, ASU can create a very useful safety net alongside long term IP or for those clients whose budget is stretched and who may not be able to afford long term IP.”
A report out recently from research house Defaqto report revealed why clients don’t think to ask about income protection.
It claimed consumers feel they are unlikely to be ill for an extended period of time and that they can cope financially until they are back to work. The report also suggested consumers believe the state will cover them if they fall ill and their employer doesn’t pay sick pay.
Others believed their employer would cover the cost of them being off work.
Hall added: “Advisers can see this as an obstacle or an opportunity. I urge advisers to seize the opportunity to re-educate their clients and not to run scared of selling this type of policy as it still has a very worthy place within the protection portfolio.
"There is no risk of exposure to a miss-selling complaint as long the sale process is open and transparent, you explain the reason for the policy, ensure its terms and conditions and the qualifying criteria have been fully explained to the client and that full records are kept for future reference.”
