So, the question is, what can we do – right now – to help provide the clarity and comparability that buyers need? The answer is to support our advisers.
In many ways, CIC is in fact a complicated product – that is why customers need an adviser to help them through what can feel like a minefield when it comes to choosing the right policy.
Advisers can add enormous value here by regularly reminding clients what they have in terms of cover and reminding them that they are, or would like to be, the first port of call if the customer needs to consider updating their policy or their health circumstances change.
Advisers also play a crucial role in offering the simplification and interpretation of CIC policies that customers need when choosing the best policy for them.
Primarily, that will involve helping customers review and translate policy wording, so they can make informed choices and comparisons between products.
To do this, advisers will need support from insurers, though – largely in the form of information and education.
As a provider we would like to agree with our adviser partners how best we can all help keep our policyholders and clients aware of the benefits of the cover they have so that if “life happens” to them, together we can help customers make the most of the cover they have.
If we, as an industry, stay true to this commitment, we can help advisers to simplify CIC for customers right now – and ensure that they aren’t discouraged from getting the vital protection they need.
Craig Brown is director, intermediary at Legal & General