Industry urged to ‘articulate’ value of life advice – Life Insurance – Insurance News

ClearView has urged the industry to use the “power of storytelling” to highlight the value of life insurance advice to consumers, regulators and policymakers.

The listed financial services company made the call as Treasury’s Quality of Advice Review prepares to finalise its report, which is expected to be provided to the Government in December.

MD Simon Swanson says it is up to the financial services community to raise awareness of the benefits of engaging a professional adviser and the difference it can make, especially during claims time.

“The industry has historically struggled to clearly articulate the tangible value it adds but it’s on full display during claims time,” Mr Swanson said.

“That looks like helping a client in desperate need complete and lodge a claim application, arrange doctors’ appointments, liaise with insurers and, ultimately, telling them that their claim has been accepted.”

ClearView says it is using the “power of storytelling” with the launch of a booklet sharing the experiences of life insurance customers who made claims after suffering an unexpected accident, injury or illness.

The booklet includes customer reviews from Suzanne, who lost her husband of 50 years, Laurence, to pancreatic cancer last year; Greg who has terminal cancer and been given roughly five years to live; and Stuart who was recently diagnosed with Lewy Body Disease.

“Customer reviews are extremely powerful and if we don’t talk about our successes then no one else will,” Mr Swanson said.

Seven of the nine customers featured in the booklet have had their claims paid in the last 24 months, including five in the past year.

“The stories in this booklet highlight the good work and enormous value financial advisers provide,” Mr Swanson said.

“When clients need their adviser the most, they’re there. Taking out life insurance cover through a financial adviser often results in more competitive features and benefits, higher sums insured and faster payment times.”

Click here for the booklet.


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