What is the most important factor you consider when determining which life insurance product will best serve your client?
- Depends on client’s circumstances (59%)
- Product features (16%)
- Premium rates (12%)
- Underwriting process (4%)
- Claims record (4%)
- BDM support services (4%)
- Reliable technology & admin systems (0%)
- Other (0%)
Loading ...Our latest poll results suggests most advisers prefer a ‘horses for courses’ approach when it comes to recommending appropriate risk product solutions.
As we go to press, 62% of those voting in this poll have indicated their recommended product selection depends on the individual circumstances of their client, such as occupation, potential health status, family and/or business structures etc.
just under four in ten advisers …have opted for other factors as their most important element
At the same time, however, just under four in ten advisers (38%) have opted for other factors as their most important element when it comes to product selection. In this group, product features and premium rates appear to trump insurers’ claims and underwriting records or the nature of their BDM service offers.
Which group reflects your own approach? Are you in the majority, where it’s the individual circumstances of your client which mostly drives your eventual product recommendation? Or are you part of the (almost) four in ten whose experience leads you to being more influenced by the other factors listed above?
On a question for which there may be strong preferences as to what constitutes the best way to determine the most appropriate product choice – but for which there also seems to be no ‘right’ or ‘wrong’ answer, our poll remains open for another week and we welcome your input…