We understand that protecting your clients’ families is your top priority. Life insurance and other protection policies are there to ensure your clients’ loved ones are cared for, should the unexpected occur.
However, the effectiveness of these policies relies on one crucial factor: accurate information. When your clients provide complete and truthful information during the application process, several benefits arise:
- Peace of mind: Knowing their coverage aligns perfectly with their needs allows your clients to relax, and secure in the knowledge their wishes will be carried out.
- Fewer discrepancies: By completing a “Confirm Your Details” (CYD) form with their chosen provider, your clients avoid any gaps or errors in coverage. This guarantees they receive the full benefits they deserve.
- Informed decisions: By guiding your clients through the application process and encouraging open communication with the provider, you empower them to make well-informed choices that safeguard their loved ones’ futures.
Avoiding Misrepresentation: Honesty is Key
Here’s how you can help your clients avoid misrepresentation:
- Accuracy matters: Remind your clients to be mindful of providing accurate details about their health and lifestyle habits.
- Open communication: Encourage them to reach out to you if their circumstances change. This allows you to offer appropriate guidance for updating their policy.
- Key areas to consider: Alcohol consumption, pre-existing medical conditions, weight, undiagnosed symptoms, and smoking/vaping use are all crucial areas to address during the application. Inaccurate information or non-disclosure in these areas can lead to claim issues later.
Here’s a quick checklist to help your clients remember:
- Health: Have they disclosed any revisions to current treatments, or any undiagnosed symptoms?
- Travel: Have they provided details on past or future travel plans?
- Activities: Have they disclosed any high-risk hobbies like rock climbing or motorsports?
- Finances: Have they reported any changes in occupation or mortgage amount?
Confirm Your Details (CYD): The Final Step
The CYD stage is crucial. Ensure your clients complete and confirm their details after the initial application. Follow up with them to make sure they’ve finished the registration process. Encourage them to look out for the registration email and to use it to verify the accuracy of their information or notify the provider of any changes. Accuracy at this stage provides peace of mind for both you and your clients, knowing the right coverage is in place.
TMA is Here to Help
At TMA, we offer you a wide range of providers, flexible options, and valuable resources. These tools help you initiate important conversations with your clients about their needs.
Our dedicated team are here to assist you with training, sales process guidance, and ongoing knowledge support. Simply call us today on 0330 303 0236 or request a call back and we’ll be happy to help!
