Advisers Open to Policy Co-ownership

Around six in ten advisers are prepared to consider the idea of policy co-ownership as an option for their eligible clients.

This is the result to date in our latest poll, where 59% of advisers to date agree that they’re open to the principle of life insurance policy co-ownership if this is what it takes to extend the duration of a lump sum life policy when the only other option – mostly for cost-related reasons – is letting the policy lapse.

On the other side of the coin, 30% disagree, while around one in ten are on the fence at the moment.

This outcome suggests the ground may be sufficiently fertile for new player, iExtend, to have the opportunity to articulate the value of its offer to the Australian adviser community, in which the insured benefit in the event of a claim will be shared between iExtend and the policy owner, according to a sliding scale formula (see also: Launch of iExtend).

We welcome any measured thoughts you’d like to share on this topic as our poll remains open for another week…