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Cutting cover is risky business |
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FINANCIAL ADVISOR NEWS |
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Advising your clients to protect their income with FMI is one of the best decisions you could make in 2009. The current economic downturn has eroded reserves and financial institutions are unable to approve loans or extend overdraft facilities. Thus clients are left with only their income protection to support them financially during periods of disability.
As a result, FMI supports all initiatives aimed at assisting clients to retain such vital cover for the following reasons:
1. Asset repossession, liquidation, lapses in insurance cover and retirement planning which all lead to a bad credit rating could be the result of inadequate cover. 2. Financial stress impacts on physical wellbeing. Avoid your client having to be re-underwritten as future premiums and cover levels are affected by health and age if the policy has lapsed. 3. Quality of live and living standards could be compromised by having inadequate cover.
Here are some useful suggestions aimed at assisting you with retaining your client's valuable cover:
1. Converting cover to new generation products with relevant benefits and competitive premiums. * 2. Policies should be reviewed regularly with focus on: · Cover levels · Waiting period · Benefit term · Annual Benefit and Claim Escalation options · Premium Patterns · Definition of occupation
For more information on FMI’s two new individual products please call Financial Advisor Distribution on 0860 10 52 08, email sales@fmi.co.za or visit www.fmi.co.za.
*All FMI clients will be re-underwritten when converting cover to a new product. |
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Recent individual FMI Product Improvements:
1. Higher cover levels 2. Competitively priced premiums 3. An additional benefit option for business overhead expenses 4. A separate product for the professional which includes cover for staff members. |
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To remove your name from our mailing list, please email unsubscribe@fmi.co.za. Questions or comments regarding this newsletter? Email us at marketing@fmi.co.za. |
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Did you know? FMI is extending our Special Offer until the 30th April! For more details visit www.fmi.co.za/specialoffer.htm |
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Volume 25, January 2009 |