Is your advice practice continuing to experience a higher rate of life policy cancellations over the past 10 months?
- Yes (71%)
- No (24%)
- Not sure (4%)
Loading ...Our most voted-on poll by far this year asked you in February whether your advice practice had experienced a higher rate of life insurance policy cancellations over the previous 12 months.
And in light of the tough economic climate throughout 2025 we felt it was worth revisiting the question and seeing if the drop off in life insurance policies you’d experienced in 2024 continued into 2025.
…80% of advisers agreed they had seen more policy cancellations…
In our February 2025 poll 80% of advisers agreed they had seen more policy cancellations with just 18 percent disagreeing with the premise. So has anything changed over the past 10 months?
Our original question arose following commentary out of Australia that pointed to cost-of-living pressures and higher premiums, coupled with demographic and health changes, leading many Australians to re-evaluate their life insurance. (see: Seven Factors Driving Life Insurance Cancellations).
That story quoted policy co-ownership firm, iExtend. Its CEO David Sarkis said in early 2025 that more Australians were wavering on whether to keep their life insurance cover.
So, has anything changed since February this year for your advice practice? Are more New Zealand clients having to let their life insurance policies go, or are they holding on till the economic climate improves?
We are keen to learn you views and will report back next week…
