Shifting to level premium policies not always right
Many advisers moved clients onto life insurance level cover in the run up to law reform in July because of premium hikes, however Triplejump believes this was not necessarily in the best interest of clients.
Triplejump chief executive Cecilia Farrow said she had seen "shocking" advice given to clients and based on anecdoctal evidence, there were many cases where clients were shifted from yearly renewable term (YRT) contracts to level contracts, lock, stock and barrel.
She said the worst case seen recently was a one-pager that had been written by an adviser to a couple who were in their later years and being farmers, had reasonably extensive debt...MORE»
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Spread it around
Sincere apologies, but as with so many things I have discovered over the past 10 years or so that I was wrong about something. A long time ago, when I'd answer the phone and prepare quotes for insurance brokers all day long, I still remember doing quotes for a broker who I thought, cordially, was insane.
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