Poll Results – Intergenerational Risk Advice Opportunities

There appears to be a general consensus among advisers that more can be done – that opportunities exist – when it comes to serving the life insurance needs of the next generation of clients and prospective clients.

As we go to print this week, around seven in 10 of those voting in our latest poll (69%) think their advice business could be more involved in delivering intergenerational advice solutions, where the most common scenario revolves around the servicing of the children or even the grandchildren of existing pre- and post-retiree clients.

This poll result comes off the back of our report last week on Chris Unwin’s contention that many advice businesses are missing a trick in under-servicing the insurance needs of their clients’ children and grandchildren (see: Missed Opportunities…). At the same time, we also reported significant numbers of Australians are without any life insurance cover at all, and many of those have no intention of seeking it in the future (see: Staggering Number of Australians Don’t Have Life Insurance).

Perhaps a more focussed approach by more advice practices – both risk specialist and holistic service providers – on delivering life insurance advice to the children of existing clients may be one small part of the solution to addressing our nation’s underinsurance dilemma.

Do you agree? Could your advice practice easily pivot to servicing this clearly under-serviced market segment – or would this be a bridge too far? Do you want to deliver more intergenerational advice but simply don’t have the capacity in your business to do so?

Our poll remains open for another week and we welcome your thoughts.