Craig and Elizabeth come to see you for their first appointment meeting. Craig is 41 and Elizabeth is 39. They are married with three children aged 9, 8 and 5. Whilst Craig is the main breadwinner, Elizabeth has just returned to work part-time. As part of your first interview, you are trying to determine your clients' insurance needs.

Questions:

1. How could you respond to Craig who says "Elizabeth does not need any life insurance because I already have life insurance and income protection insurance? 

2. List 4 reasons why your clients might be reluctant to take on more life insurance.

3. Explain to Craig and Elizabeth some of the characteristics of trauma insurance. 

4.  What definition/s would Craig need to satisfy to receive a TPD payout whilst working as an electrician under the 'any occupation' definition? 

5.   How would you explain to any client why only having term life insurance may be insufficient? 

Answer rating: 100% (QA)

1 Its great that you have life insurance and income protection insurance but its important to consider Elizabeths financial needs as well If something ... View the full answer