99 times out of 100, during a meeting with your insurance broker you’ll learn something new about your own policy. There is always something they learn each time we meet about their insurance products and how they stack up, the forever evolving insurance industry or a number of other hidden benefits or features.
It’s Our First Language
The insurance industry and the products are very complex. From what a client sees in the glossy brochure to what they think they are getting can be very different. There are hidden fishhooks in policies that clients are not aware of.
The policy wordings are 50 pages long and nobody ever reads them when they sign up. And fair enough, they are long and quite boring. And even if you tried to read them, I guarantee you would not understand it all anyway.
Having the right insurance means everything. Your trust and hard-earned money should not be thrown around willy-nilly no matter what. Using a broker to help guide you through this minefield is essential and has now never been more important.
Clients are not expected to know what an adviser knows and they also don’t get access to all of the information that advisers get. This is a key point because some advisers get access to an entire range of products, policy wordings and rating houses that independently rate each product based on the quality of the product and policy wordings. This means we get to see a whole lot more than what any client could ever find on google or from Rabo advice online.
We can see how the products stack up based on quality and price then we can compare hundreds of different products based on the clients needs, wants and budget.
I assure you the time it would take to contact all the companies personally and get this information would take days. You would be overwhelmed with all of the information and would be even more confused than when you first started. Not ideal!
Why Is It So Important?
The key point here is clients don’t know the quality of their product and how they stack up compared to others. For example, perhaps you’re looking for a trauma insurance plan with the best return on investment; this is something we can help you to find.
You don’t know that company A product is rated better than company B and it is more affordable. Or that company A covers $300,000 per year of a specific benefit and that company B only covers $100,000. Or that company A has just upgraded some of their policies and company B has not looked at this in 3 years.
Insurance is all about claim time. How will this product work and will I get the desired outcome? Well, all products work differently at claim time and provide a different outcome. So, it is imperative that we set it up correctly at the beginning and keep reviewing it every 1-2 years to ensure it is still for purpose. Products change and so does your life so we must keep it up to date.
That is what we are here for and when the rubber really hits the road is in the unfortunate event of a claim. This is where we really go to work for our clients to ensure we do everything we can to get the claim paid with minimal disruption or stress added to the client.
In my view it is easy for an insurance adviser to sell a product but if they are not keeping in touch doing reviews, or if you have had to claim an they have not been there for you then I would say it is time you look for someone else who you can really connect with and trust.
Get someone who speaks the language.
When looking around for an insurance adviser it is vital to find someone that you can connect with and trust to handle your policies – life insurance, a first mortgage, or an investment, we’ve got you covered.
Here at Rethink we do what we say we are going to do and we put our clients’ needs above our own. It is so much more than insurance for us. It is life changing what we do and how we can help our clients, so set up a free consultation today. Every day is a journey, and if we can help others along their journey being happy and healthy, then that is a good day.