The FSC (Financial Services Council) released a report earlier this week titled "Review of Retail Life Insurance Advice". At 76 pages it is quite the read, but in a nutshell it focuses on how remuneration affects the way advisers sell insurance, particularly when it comes to replacing existing policies (churning) in order to generate revenue for the adviser.
It is no secret that insurance companies provide incentives for advisers to sell their products, as is the case in most sales based industries. It is also no secret that BRAVEday has a set of values that ensure we are putting you, our client, first.
We will do what's best for our clients. We will only replace policies if the terms are the same or better than your existing cover and only if there is a substantial premium saving for the client. We also make sure that the insurer gets a full medical history to ensure there are no non-disclosure issues.
We don't cut corners. Enough said.
We put our clients in the best possible position at claim time. We don't plan for "if" you claim, but "when". By doing a thorough job at application time, claims are processed with a minimum of effort.
We will give our clients choice of providers. We have no preferred insurance provider. BRAVEday gives you the means to make an informed decision of both what insurance benefits you want, and which provider you go with.
We will be there for you when you claim. This is when BRAVEday is at its best - we take care of all the details of your claim, liaising with insurance companies and medical professionals so you can concentrate on the important things.
The upshot is, you have to trust that your adviser is doing the right thing for you…which can only be established by building a relationship with them. Referrals from family and friends is a great way to ensure that you have the right adviser for you.
