Life insurance has become less prominent in financial planners’ business mixes, according to an Investment Trends study.

Time spent talking to clients about cover has fallen to 18% from 20% in last year’s survey.

Investment Trends Senior Analyst Recep Peker says the drop follows a period of investment market volatility that encouraged planners to focus on insurance sales.

“But the return in confidence earlier this year has meant planners were able to write a lot more non-life business this year,” he said. “An outcome of this is that they are again spending the normal amount of time talking to clients about their insurance needs.”

Advisers still writing life insurance have reported 5% annualised premium growth, according to Mr Peker.

“They also remain optimistic, predicting future growth, as they have for several years,” he said.

“The Future of Financial Advice reforms may also be a catalyst for planners to write more life business, with 23% of advisers saying they will provide more insurance advice as a result of this legislation.”