How can you offer a much better plan for a very small extra cost?
Life cover is a really simple concept, as long as the client hasn’t misrepresented, they’ve paid the premiums throughout the term and they die within the term then a claim is paid. Indeed, if life cover is sold alongside a mortgage the client will understand the need making it a straightforward recommendation. But with budgets stretched many clients will opt for the cheapest solution without understanding differences in cover.
So, is life cover as simple, or as straightforward as many believe? Ostensibly the nuts and bolts of life cover are as described at the top of this insight, however there are a raft of features that if not fully explored, explained and understood may leave the client open to foreseeable harm in the future.
With variations between GIO events, often unavailable when the client reaches their mid-fifties, child eligibility for GP services; some providers cap these at age 16 whereas others offer cover until the child is 23 and of course differences on how terminal illness claims are dealt with then life cover becomes that little more complex.
Let us demonstrate how to quickly and easily compare the small print and features of life and mortgage protection plans in just an hour. We’ll unpack the variables: separation options, index linking, beneficiary nomination, mortgage guarantees, suicide clauses, free cover limits, the lot. With cost and quality side by side you can shine a spotlight on the features and justify that additional cost, which is often less than a fancy coffee, whilst highlighting the value of your advice
To help advisers we now offer six free webinars, to help you improve your protection conversations. If you’re new to Protection Guru Pro (PGP) or an existing user keen to understand how to compare quality, price and value in one go, you’re in the right place.
If you’re new to Protection Guru, we’ll show you how to obtain a 30-day free trial for PGP and how to link the pricing and underwriting feeds enabling you to highlight value to your clients from day one.
We’ve a total of six, hour long webinars, you’ll see the date, time, and themes below, these are refreshed weekly, so you’ll always see the schedule for the next six weeks:
Tuesday 30th September 10am–11pm – Providing Life Protection advice for Mortgage and Wealth Management advisers
Wednesday 8th October 3pm–4pm – Why only assessing Critical Illness plans for Quality & Value fails FCA Consumer Duty requirements – And how to fix it
Monday 13th October 9am-10am – Are you missing out on the best way to cover families cheaply? The case for Family Income Benefit
Friday 31st October 12pm-1pm – Selecting the best value Critical Illness plans for your clients
Wednesday 5th November 10am-11am – Exploring Income Protection Advice
Thursday 13th November 11am-12pm – The importance of regular reviews and how to compare legacy products
