Protection has always been a product that needs advice, especially when it comes to comparing a client’s existing arrangement compared with what’s available to them today.
- Some of the factors to consider when reviewing existing protection plans:
- Has the client’s health changed?
- Have the family circumstances changed i.e., had children?
- What smoker status are they now?
- Have they re-mortgaged since the last time you advised them?
- Are there products available to them now that previously were not?
- Do they have an exclusion on their policy that can now be removed?
- Does the existing policy have a terminal illness restriction that can
now be bettered? - How does their existing critical illness plan compare to what’s
available today? - Are you exposing them to any risk in changing their cover (perhaps
loss of cic illnesses)? - With living costs going up, it’s important to think about whether
Income Protection or Family Income Benefit will be enough to cover
their increased essential monthly expenses.
All the above are important factors in completing a protection review.
At Stonebridge Protect, we review all our clients at least every two years to ensure they have the best advice available to them.
You should be doing the same, but if you don’t have the time or don’t feel comfortable completing the process then we can help.
To find out more, call Steve Slaughter:
0345 319 7070
07805610701
steven@stonebridgeprotect.co.uk