It pays to get it right from the start
Withholding information is the single most common cause of life insurance claims being rejected by insurance companies. The chances of this unfortunate issue arising can be reduced if time is taken to explain to clients how important it is to disclose everything about their medical history or lifestyle choices, no matter how irrelevant it may seem.
When signing up new clients, some advisers find particular insurance companies underwriting policies are frustratingly detailed and the process can take a bit longer than other insurers. However our view is that to minimise problems later, it is vital that right from the start there are robust processes in place to explain to clients expectations about disclosure.
This helps ensure that if clients find themselves in the unfortunate position of having to make a claim on their life insurance policy, the chances of perceived non co-operation from their insurer and the risk of their claim being rejected both diminish...MORE»
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Trauma insurance – life insurance for the livingTuesday, May 19th, 4:00PM
Trauma or critical illness cover is one of the life insurance industry's best kept secrets. That's because it is insurance for the living and pays cash so if the insured person suffers a serious illness or injury covered by the policy they can carry on with their life. In this article we look at the origins of the insurance and how beneficial it can be to the financial survival of your clients. MORE» |
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People frequently ask “How does being in recession affect insurance sales?” A recession doesn’t mean that people no longer need insurance – if anything, the opposite is true.
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Some things improve with age, but yearly reviewable insurance isn't one of them. Long standing insurers have a track record of providing long term solutions with competitive level premiums. In this article we look at how the insurance industry should focus on quality advice that stands the test of time and at the advantage of level premiums over the longer term. MORE»
Life insurance - a luxury or a necessity?
How dependent is our financial security on our physical health? The take-up of KiwiSaver has been above expectation and created an increased awareness of the need for financial security in retirement among New Zealanders. But consider what may happen if we don’t make it to retirement age. MORE»
