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Broker Talkback

Is it right that critical-illness cover can be sold on a non-advised basis?

No 88%
Yes 12%

Yes “In most circumstances, it is better as an advised sale but some people are savvy enough to do it alone and I am not a believer in telling people what to do.”

Bernard Montgomery, Bernard Montgomery

No “It would be crazy to sell as execution-only, we would never do it. The product is too complicated.”

David Bell, Hadrian Financial

No “It all depends on the disability or the illness, there are a lot of things to consider. It is not as easy as just a straight sale.”

Stephen Lee, Alpha Financial

No “There are all sorts of ramifications with these products. They should only be sold on an advised basis.”

Mark Dutton, Keyline Financial Services

No “Definitely not. It is one of the most complicated products. Look at all the illnesses it covers. There is no way that it should be sold on a non-advised basis.”

Brian Orpin, Brookridge Services Associates

No “It is not right because it is very involved and consumers need advice on it.”

Peter Bennett, Fairway Independent Financial Advisers

No “Critical illness is a very broad product. I think it is better sold with advice because people would not necessarily know all the different features, clauses and conditions.”

Donald Faulds, Kingston Independent

No “You have always got to take advice for critical illness. You might have a client using nicotine chewing gum and an inhaler and they say that they are not a smoker but then the rates go up when they find they are.”

Tony Barrass, Mercury Financial Management


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Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

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