Menu-based protection can provide just that. Similar to Woolies’ sweet counter, where you could scoop up cola bottle sweets and add them to an assorted bag of chocolate mice and pear drops, menu-based protection allows you to pick ‘n’ mix your life cover with critical illness and income protection cover.
The advantage of menu-based protection is that customers can benefit from all the kinds of protection they need, under one account, one monthly premium and one account fee.
But they can also rest assured that they have the flexibility to change the amount of cover they have depending on their circumstances any time in the future.
For less than £43 a month a 35 year old non-smoking female could afford life and critical illness cover, which could provide a £100,000 lump sum to help pay off her mortgage should the worst happen.
Because life is changing all the time, it’s a good idea to look at pick ‘n’ mix insurance with your clients and review the type and amount of cover they need regularly.
It’s also important to remember that for customers, having some cover is always better than having none.