Special events options are an underused tool
Some advisers say to me that a quarter of their clients are loaded. When I remember to ask I say – so have you been promoting the use of the special events option?
A personal friend asked me about what he should do about cover he and his wife have: while referring him to a financial adviser I reminded him to make a special point of telling the adviser that his wife is in ill-health, and to ask the adviser to look at the special events increase in cover options on their existing policies.
It makes me think that such cover options would be used all the time – but in fact they are rarely used. If you have used on during a recent review with a client, give yourself a pat on the back.
The range of options available is quite large, and the extent of the options varies considerably between life policies. In fact special events options are a major point of difference between life products. Here is a quick run-down on what to look for:
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