Trauma Cover Undersold – Poll

The adviser community appears to be united in its assessment that trauma insurance is undersold in Australia.

This is the best conclusion we can draw from a lop-sided poll result in which around eight in ten (81%) agree that more clients of advice practices should be holding trauma insurance cover.

…trauma insurance …requires an ‘active advice conversation’ with clients

An adage accepted by most within the sector is that life insurance is usually a proposition which is ‘sold’ rather than ‘bought’. It would seem this truism clearly applies to trauma insurance, which in turn underpins comments made by MetLife’s Meray El-Khoury, where we reported last week her diplomatic assertion that because trauma insurance is generally not available through superannuation it therefore requires an ‘active advice conversation’ with clients (see: Advisers Urged to Revisit Trauma Insurance).

In other words, the argument here – supported by the poll result – is that advisers/advice practices need to be more pro-active in their client conversations whenever trauma insurance exists as an appropriate solution for the client’s circumstances.

Do you agree with the majority of your industry peers? Is trauma insurance undersold in Australia? Does this apply to your own advice practice? Or have we got it wrong? Have your peers got it wrong?

This poll remains open for another week and as usual, we’ll welcome your further thoughts…