{"id":26374,"date":"2014-06-03T01:09:47","date_gmt":"2014-06-02T15:09:47","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=26374"},"modified":"2014-06-03T01:09:47","modified_gmt":"2014-06-02T15:09:47","slug":"the-value-of-coles-life-insurance","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2014\/06\/03\/the-value-of-coles-life-insurance\/","title":{"rendered":"The Value of Coles Life Insurance"},"content":{"rendered":"<div id=\"polls-121\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Is the launch of Coles Life Insurance a positive move for consumers?<\/strong><\/div><div id=\"polls-121-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(68%)<\/small><div class=\"pollbar\" style=\"width: 68%\" title=\"No (68% | 185 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(23%)<\/small><div class=\"pollbar\" style=\"width: 23%\" title=\"Yes (23% | 63 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(9%)<\/small><div class=\"pollbar\" style=\"width: 9%\" title=\"Not sure (9% | 25 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_121_nonce\" name=\"wp-polls-nonce\" value=\"32536f0cb9\" \/>\n<\/div>\n\n<p>Our latest poll asks you to consider whether the launch of <a href=\"https:\/\/riskinfo.com.au\/news\/2014\/05\/28\/coles-launches-life-insurance\/\">Coles Life Insurance<\/a> will deliver a positive outcome for Australian consumers.<\/p>\n<p><!--more-->The benefits outlined with the launch of Coles Life Insurance are mainly those which are usually associated with direct insurance products, including:<\/p>\n<ul>\n<li>Simplicity &#8211; no difficult underwriting processes to negotiate; no medicals\/blood tests<\/li>\n<li>Speed of the application process<\/li>\n<li>Ability for the life insurance message to reach more Australian consumers<\/li>\n<li>A solution for consumers who prefer not to engage with financial advisers<\/li>\n<li>Ability to ensure at least some life insurance is in place for the consumer, where none would otherwise exist<\/li>\n<li>Availability of ancillary incentives (extra flybuys points, additional discounts and savings)<\/li>\n<li>Price guarantee offer against other direct products<\/li>\n<\/ul>\n<p>Since we reported the launch of Coles Life Insurance last week, adviser feedback has been mixed. Together with a few supporting comments, a number of advisers have questioned the value of this offer.\u00a0 Issues they raised\u00a0 reflect the general concerns expressed by advisers in a poll we conducted earlier this year, in which it emerged the main adviser concerns about direct insurance were:<\/p>\n<ul>\n<li>Non-disclosure issues at claim time<\/li>\n<li>Direct insurance is not subject to the same compliance regime as advised &#8216;retail&#8217; life insurance<\/li>\n<li>The client has usually received no advice appropriate to their needs<\/li>\n<li>Generally inferior terms and conditions<\/li>\n<\/ul>\n<p>What has sparked such interest from the adviser community in the launch of Coles Life Insurance appears to be the sheer scale and magnitude this offer is capable of achieving, given the reach of Coles and its ability to deliver a strong message to the mass market over a long period of time.<\/p>\n<p>If delivered appropriately, direct life insurance has an important role to play in addressing the nation&#8217;s underinsurance dilemma. Our question for you in this poll is whether you think Coles Life Insurance will deliver a positive outcome for Australian consumers. Tell us what you think&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest poll asks you to consider whether the launch of Coles Life Insurance will deliver a positive outcome for Australian consumers.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-26374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-polls"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/26374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=26374"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/26374\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=26374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=26374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=26374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}