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Why we think brokers should offer protection to their clients

Why we think brokers should offer protection to their clients

There’s a huge underinsurance problem in Australia

When it comes to Australian’s attitudes towards life insurance, a recent Zurich study found that 30% of respondents were not willing to pay a fee to receive life insurance advice, while only 8% of consumers were willing to pay a fee of more than $1,000 to see a financial advisor, and 0% said they were willing to pay $2,000 or more1.

Preferred channel for finance

Nearly 60% (59.1%) of residential home loans are settled by mortgage brokers –   this is a sizeable chunk of the population. If they don’t speak to their mortgage broker about their Plan B, who will they speak to?2

They are a borrowers trusted adviser

In a survey commissioned by ALI3, expert advice was the number one reason clients chose to use a mortgage broker. Part of that expert advice is educating clients about risk and providing a solution on how to help reduce its impact.

Because misfortune doesn’t discriminate

In Australia this is what an average year looks like4.  

LPPGraph1

It’s also reported, more than one in four Aussie’s (26%) have been through a redundancy at some point in their working lives4 . Read more about how the ‘She’ll be right’ attitude can devalue more than your client’s health.

Great return for a 10-minute discussion

You can grow your income while deepening your client connection, which can also lead to more referrals.

The offer is simple

There’s no awkward health questions. It’s all arranged online and integrated within leading aggregator CRM systems.

Service and support you can count on

You’ll have a dedicated BDM for training, coaching and support. We also have a specialist call centre for brokers and policyholders. And, you’ll enjoy a portal with useful tools and collateral.

Don’t just take out word for it, hear from your peers here. Or, let us know you're interested.

https://www.ifa.com.au/risk/26561-major-adviser-client-disconnect-on-risk-advice-research-finds
2 https://www.mfaa.com.au/news/mortgage-broker-market-share-surges-to-a-record-59.1-per-cent
3 ALI Group CoreData Survey May 2018
4 Australia’s health 2018: in brief report [accessed at:https://www.aihw.gov.au/getmedia/fe037cf1-0cd0-4663-a8c0-67cd09b1f30c/aihw-aus-222.pdf.aspx?inline=true] 
5 Seek, Career Advice [accessed at: https://www.seek.com.au/career-advice/honest-truth-about-redundancy] 

IMPORTANT INFORMATION:
My Protection Plan is issued by Zurich Australia Limited ABN 92 000 010 195 AFSL 232510. It is distributed by Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSL 226403 (ALI).  ALI’s AFS licence authorises the provision of general financial product advice only. This means that any advice provided to you by ALI and its representatives (including mortgage brokers appointed as its authorised representatives) in relation to My Protection Plan does not take into consideration your personal objectives, financial situation and needs, or any information held as a result of the provision of credit assistance by your mortgage broker relating to your home loan or other loans. Whilst the initial My Protection Plan quote you received was based on your loan amount, we are not recommending that this product nor any specific cover amount is personally suited to you and your circumstances. You should consider the combined Product Disclosure Statement and Policy Document (available at http://www.aligroup.com.au) when deciding if this product is appropriate for you. If you require advice specific to your circumstances, you should speak to a financial adviser. © ALI Group 2021