Life insurance products MIA
Recently I was asked again to think about what’s missing from the life and health insurance product landscape.
Here is what I came up with. It is far from an exhaustive list, but I think, worth considering.
Traditional or with-profits business has almost entirely disappeared. I remember why this product has ceased to exist – it was attacked as poor value for money, largely due to the high commissions paid for what included a substantial investment component.
Recently (some) journalists have attacked term insurance as problematic because it has no residual policy value for the client that makes no claims.
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