Let’s get technical – Cover for Students and Homemakers
Whilst students and homemakers don’t earn an income per se, we know the impact they make has huge financial value. Find out how we're able to offer cover to these individuals.
Continue ReadingFirst published Money Marketing November 2019
Your clients’ income is so much more than just your monthly salary; it’s what supports their plans for today, and their hopes for the future. If their monthly income has the potential to provide for all their financial needs, why doesn’t risk planning start here?
Life insurance is intended to insure South Africans against all major risks, but the majority of product solutions sold are not designed to meet this need sufficiently. Advisers typically default to insuring their clients against death and permanent disability with lump sum benefits, instead of insuring them against their most likely risks such as injury, illness, and critical illness.
As an adviser you have a prime opportunity to positively impact your clients’ future, by recommending cover that will protect their ability to earn an income. It’s up to you to help your clients understand their risk reality, and consequently, the cover they need, to protect themselves from their most likely risks.
The best solution is to start with a benefit that will replace your clients’ monthly income if they’re unable to work due to injury or illness. This product philosophy, which we call ‘Income First’, is effective because it replaces 100% of a client’s hard-earned monthly income when they’re faced with such unfortunate circumstances. In turn delivering on the basic customer need for which life insurance was designed in the first place.
As South Africa’s fastest-growing life insurer*, we are proving that the Income First approach promises better value for your clients:
Taking the Income First approach doesn’t just provide a superior product that meets customer’s needs, it also offers advisers with advantages at every stage of the process:
The future of the long-term insurance industry belongs to ‘early adopters’, those who appreciate that risk planning starts with protecting their clients’ entire future income, from the day they start working until the day they retire.
1FMI 2017 Lapse Report
*NMG 2018 Q4 Results: subject to participating providers
Whilst students and homemakers don’t earn an income per se, we know the impact they make has huge financial value. Find out how we're able to offer cover to these individuals.
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