Fali Mistry
Life Insurance benefits are sold in the market through several channels including banks, internet brokers, supermarkets and of course Advisers/Brokers.
When one is buying insurance through institutional channels like banks, internet brokers and supermarkets, one is missing a very important factor, namely getting professional advice to suit their individual needs.
Further, their products are very basic and are not claimable.
One may be spending a lot of money on a certain insurance product, which may not suit their existing needs. Therefore, Life Insurance Companies all over the world engage Brokers/Advisers, who are expected to do a professional job for the client.
Affordable Plan
A good Adviser will try to formulate an insurance plan, which is affordable and provide the cover that people need from time to time.
However, it is not just about selling insurance, as there are many advisers, who sell insurance and disappear. They would not be available to provide services when the need for claim arises.
A successful adviser is a good adviser, who will stand by their clients in their hour of need (such as helping in a claim settled by the insurance company).
Regular Review
It is also very important for a good adviser to ensure that the client’s changing needs are taken care of from time to time, through regular review of their policies.
It is the duty of a good adviser to ensure that the client’s policies are always in force and does not lapse due to non-payment of premium.
It is therefore very important for any client to know the background of an Adviser before engaging to do their insurance.
Inefficient or ineffective Advisers become the primary risk.
Fali Mistry is a Registered Financial Adviser at Mazda Financial Services Limited based in Auckland. He is a Member of the Institute of Financial Advisers. Phone: 0508-467872; (09) 6255060; Mobile: 021-426858; Email: fali@insuresecure.co.nz; Website: www.insuresecure.co.nz
An Award for Best Customer Service
Mr Mistry won the ‘Best Customer Service Award’ given by New Park Group Limited at the ‘Newpark Development Day’ Ceremony held at the Ellerslie Event Centre in Auckland on February 13. About 150 financial advisers were present at the occasion, including Partners Life Managing Director Naomi Ballantyne, Newpark Financial Group Managing Director Darren Gannon and General Manager Andreis van Grann. The picture here shows Ms Ballantyne with Mr Mistry holding the Award.
