{"id":51881,"date":"2020-09-01T11:39:34","date_gmt":"2020-09-01T01:39:34","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=51881"},"modified":"2024-10-30T08:45:23","modified_gmt":"2024-10-29T22:45:23","slug":"advisers-divided-on-front-loaded-premium-discounts","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/09\/01\/advisers-divided-on-front-loaded-premium-discounts\/","title":{"rendered":"Advisers Divided on Front Loaded Premium Discounts"},"content":{"rendered":"<div id=\"polls-239\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Are you ok to advise your clients to consider taking out a new life insurance policy offering a front loaded premium discount?<\/strong><\/div><div id=\"polls-239-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(62%)<\/small><div class=\"pollbar\" style=\"width: 62%\" title=\"No (62% | 98 Votes)\"><\/div><\/li>\n\t\t<li>It depends <small>(26%)<\/small><div class=\"pollbar\" style=\"width: 26%\" title=\"It depends (26% | 41 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(11%)<\/small><div class=\"pollbar\" style=\"width: 11%\" title=\"Yes (11% | 17 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(2%)<\/small><div class=\"pollbar\" style=\"width: 2%\" title=\"Not sure (2% | 3 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_239_nonce\" name=\"wp-polls-nonce\" value=\"3937937bc7\" \/>\n<\/div>\n\n<p>Advisers, it seems, are divided on whether they would be okay to advise their clients to consider taking out a new life insurance policy offering a front loaded premium discount.<\/p>\n<p>Our latest poll found that while 58 percent were not happy to do so, a total of 40 percent would be happy to advise their clients to do so, with 28 percent agreeing that &#8216;it depends&#8217; and another 12 percent saying \u2018yes\u2019 they were happy to do so. Just two percent weren\u2019t sure.<\/p>\n<p>This latest poll drew on our report looking at research which suggests that while new life risk policies with front loaded premium discounts can increase affordability in first-year premiums, they may be more costly to consumers over the medium-to-long term (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2020\/08\/17\/study-reveals-delayed-costs-from-front-loaded-discounts\/\" target=\"_blank\" rel=\"noopener noreferrer\">Study Reveals Delayed Costs\u2026<\/a>).<\/p>\n<p>The research indicates front loaded discount policies with stepped premiums have, on average, lower premiums in the first policy year, but higher premiums from the third policy year onward.<\/p>\n<p>One commentator noted that there are very different types of discounts with some insurers offering big first year discounts; while others offer discounts that are not excessive and require no input from the client and still others have discounts that come with added benefits.<\/p>\n<p>The same commentator added that the research cited in our story was commissioned by an insurance company that doesn&#8217;t offer discounts.<\/p>\n<p>The poll will be open for another week and we are interested to hear your views \u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers, it seems, are divided on whether they would be okay to advise their clients to consider taking out a new life insurance policy offering a front loaded premium discount. Our latest poll found that while 58 percent were not happy to do so, a total of 40 percent would be happy to advise their [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":51885,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-51881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-polls"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/51881","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=51881"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/51881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/51885"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=51881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=51881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=51881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}