(60 min CPD)
Hi everyone, in the latest podcast I have with me Alan Knowles, Managing Director of Cura, known for his work as a speciality insurance adviser. Alan is the current Chair of the PDG, a founding member of the Access to Insurance working group and recently joined the Income Protection Task Force. Many of you will also know him as my husband and I am very proud to say that we kept marital banter to a minimum.
On Thursday 4 September at 8am the latest podcast episode aired and this one is all about case studies. Alan chatted about life insurance policies that he has arranged for people that are considered to be a higher risk.
You can find the podcast here. It’s also on all major podcasting platforms.
Here are 3 key takeaways:
- Case studies of protection insurance for people that have had leukaemia, prostate cancer, organ transplants, that regularly skydive, and someone travelling and working in Libya.
- A breakdown of what percentage ratings vs per mile ratings are.
- The PDG Funeral Pledge and Claims Charter, and what it means for your clients if this insurer has signed up to these.
The standout thing for me in this episode is the case studies. Alan chats through the specific risk and the potential terms that might be on offer. More than that though, he chats about the extras that are needed as an adviser working with higher risk clients. The need to ask more questions of the client, beyond what an application form asks, to get a clear picture of their circumstances and then an accurate indication of terms.
He then talks about times when the terms on offer from an insurer change from the presale. They could be worse than expected or potentially even a decline. We then chat about how you can handle this as and adviser, to comfort your client and also find out what has changed. This can include challenging incorrect information in GP reports, asking the insurer for alternative options and sometimes not taking no for an answer.
Alan also discusses times where you may find out that a client’s medical history is not what they think it is. This is a very sensitive and difficult conversation to have with a client. Alan talks through some approaches that he takes to handle these situations.
Alan will be back on in the future with an income protection masterclass and if there’s any specific risks you’d like him to chat about, drop me a message,
Once you have listened to the episode don’t forget to claim your CPD certificate here.
You may find that your work systems are not keen on the CPD form (it’s a google form). Please don’t worry if that is the case. Contact me on social media or through the website and I will be able to issue the certificate directly to you.
To find out more about the PDG Funeral Pledge and Claims Charter please visit here.