Buying a property is the top trigger for taking out protection such as life insurance

Getting on the property ladder is the top trigger for clients to take out protection, according to a survey of IFAs .

Scottish Provident's Financial Safety Net report questioned over 900 intermediaries and revealed that 92 per cent of IFAs said purchasing property was a major reason for taking out a new protection policy. The survey also found that having children, at 80 per cent, was the second most common trigger, while almost 57 per cent (three in five) say it is because their client simply wants peace of mind about the future.

Three quarters of IFAs (76 per cent) state life insurance is the most common policy clients ask about without being prompted, with just 10 per cent saying it was unemployment benefit, 9 per cent critical illness and only 5 per cent income protection .

Susan Barclay, head of marketing at Scottish Provident, said: "The research confirms that IFAs' clients are mainly prompted to take out protection products when they experience huge life changes such as buying a property or having children."