What made you decide to offer your clients loan protection?
I genuinely care about my clients. In purchasing a home they are making the biggest investment of their lives, I therefore see it as imperative that they protect this asset at the same time.
By offering ALI loan protection, it gives my customers peace of mind. I remind them that they generally have insurances in place to protect things such as their cars, health and contents so why would they not protect their biggest assets of all – themselves and their home?
I never assume a client already has insurance and ensure I have the same discussion with every client regardless of age, gender or circumstance.
By not offering ALI I would not be doing the right thing by my clients.
Have you had any key moments when offering ALI loan protection that stands out?
No one experience stands out but I generally find the reception from clients to be a positive one.
Until the insurance is discussed most clients have not given it so much as a thought so if you take the time to discuss it with them, walk them through the policy, how it works and the cover it provides – most clients are very receptive to it and see the value it adds.
The fact the policy can be implemented on the day of the appointment means it is quick and easy for the customer and they are covered pretty much straight away.
What would you say to a colleague or broker considering offering their clients ALI loan protection?
Embed it into your process knowing that you are not doing the right thing by your client if ALI is not being offered.
You have to believe in what you are offering the customer. Do not be frightened to have the conversation with your client – you are doing them a favour by offering ALI – they may thank you one day.