The insurer, Legal & General, has introduced tips and measures to enable advisors to successfully sell a life insurance policy and also note if a policyholder plans to cancel a protection plan.

The Early Warning System (EWS), is a system which automatically flags to an adviser at the earliest possible point when a client’s direct debit lapses, therefore telling them of potential policy and commission losses.

Adrian Clark, the operations director said: "Many advisers are finding it tough, or at the very least challenging, to generate new business, so there's never been a better time to make sure that existing clients remain on the books.

"In the past we have focussed primarily on helping advisers gain those new clients but now we are expanding the support we are giving on the retention side. This isn't just short-term tactical assistance, but also long-term strategic advice."

In addition, Legal & General has also launched a new Retention MI Toolbox (REMIT), an internal tool which allows Legal & General's protection sales consultants to help advisers improve their profitability.

Adrian Clark added: "We originally launched our retention MI toolbox in July last year and it proved popular because our consultants could take hard facts to their accounts and show how those advisers could potentially improve their profits.

"This upgrade takes that a step further by improving the functionality to include the ability to show in pounds and pence the actual revenue that they are losing through policies not taken up or lapsed policies."