VitalityLife
Clients need actual value – not ‘added value’
To really deliver value, protection should offer more than just additional services near – or at the point of – claim, writes Vitality’s Nick Telfer.
The evolution of protection policies has seen growth of – what the industry likes to call – ‘added-value services’. Although, I believe that using a collective noun for such a diverse range of services is questionable – particularly if using the word ‘value’.
Convincing clients of the ‘value’ of a protection policy, be it Life, Serious/Critical Illness or Income Protection Cover, has always been a challenge. While much good work has been done to promote claims statistics and case studies, the fact remains that – in its purist form – something bad needs to happen for a customer or their family to benefit from a protection plan.
