Poll Result – Reality Rules

Reality rules in the adviser community when it comes to implementing life insurance product solutions for their clients.

As we go to press, our latest poll has found almost eight in 10 respondents (77%) agree with the premise that premium affordability means almost all life insurance policies placed for clients are a compromise.

Only 21% of those taking part disagreed this was the case.

As we noted last week, this question had arisen in the wake of a recent story from our Riskinfocus 24 series which reported the issues around balancing IP and TPD product combinations for clients in an ever-evolving consumer world (see: Disability Dilemma…)

As part of this conversation around the right combination of IP and TPD cover and the interplay between them, MLC Life Insurance’s Marshall Ross noted the importance of trade-offs when it comes to which aspects of a client’s life should require coverage and which parts they might self-insure.

We also reported it’s not unusual for experienced advisers to hold the view that every client conversation they conduct (in relation to life insurance solutions) is a compromise – because that’s how the world works.

And as one commentator notes in response to our poll, even a decade ago a veteran adviser had highlighted that “…risk advice was always a negotiation process with the client.”

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