WHAT, HOW, WHY? #4: Is their protection past its sell-by date?
'When did you last check if your client’s life insurance needed reviewing?’
An adviser’s duty is to ensure cover remains fit for purpose, writes protection specialist Karla Edwards
WHAT?
When did you last check if your client's life insurance needed reviewing? Every year we get renewals regarding car, house and pet insurance but not for the one thing that can change daily… Life. You automatically make amendments to your motor policy when you buy a car; but did your clients notify you when they had a baby?
HOW?
Unfortunately, there are no reminders to make sure that policies are still suitable for current circumstances. It is an adviser's duty to ensure that what your client is paying for is still fit for purpose. We have tools such as CIExpert that will help guide our clients to get the best protection available for their everchanging life.
WHY?
Sadly, until society promotes personal insurance to be as crucial as all other aspects of protection; WE are responsible to signpost the importance of updating cover. Go the extra mile for customers, check in with them yearly. They have trusted you to protect their family, everything in life is temporary and no plan is permanently perfect.
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