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Ask any life insurance customer what their biggest pain is, and they’ll probably tell you it’s the onboarding and application process. The endless forms. The medical tests. The waiting. Whether it be for income protection, critical illness or life cover, the process is often an arduous one. It’s a major reason why people put it off – sometimes until it’s too late.
Life insurer FMI (a division of Bidvest Life) is on a mission to change industry behaviour by shifting current industry norms from the traditional ‘lump sum’ approach, to one that champions income benefits first. With multiple advantages for both advisers and customers, it should be an easy choice for advisers to make.
One out of four South African women under the age of 60 suffers from a cardiovascular disease making it the leading cause of critical illness-related deaths in women. This can be supported by statistics indicating that heart diseases accounts for one-third of all deaths in women and strokes are linked to more female deaths than male deaths, worldwide.
We currently find ourselves in a market that hasn’t shown any real growth over the past five years and even the most optimistic investors are now starting to panic, especially those who have already retired.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?