According to the latest business confidence survey released by the New Zealand Institute of Economic Research, 75% of New Zealand businesses expect a financial downturn this year.
Naomi Ballantyne, Managing Director Partners Life, says that if a recession happens, advisers will need to consider the impact on their business and their ability to offer life insurance to consumers.
“We thought it was timely to shine a light on the potentially gloomy subject to reassure you that at times like this you’re needed as much as ever by New Zealanders,” says Ballantyne.
To help guide advisers, the firm has produced a video – The Impacts of an Economic Recession on Life Insurance – to offer insights and guidance on how consumers generally react when times get tough.
The 13-minute video (below) features Partners Life staff such as Stewart Taylor, Chief Financial Officer (formerly CFO at ANZ), Kate Dron, Chief and Appointed Actuary, and Dan Walker, Chief Operating Officer.