The insurance company Aviva has created a video for financial advisers, in partnership with bereavement charity Grief Encounter, designed to show how families are affected when a parent dies without life insurance.
The video is designed to take an “emotional approach” to show the importance of having protection in place as opposed to just using facts and figures and will be displayed alongside a checklist showing how advisers may use the footage to bring up the subject of family protection with their clients.
Aviva is treading a fine line in making the legitimate point that many customers would have more peace of mind if they had a life insurance policy in place but perhaps have not considered the options available to them or the consequences of continuing without cover.
The company must be very careful, however, not to cross the line and use the grief of family members of recently deceased persons as a sales tactic to shock unsuspecting members of the public into buying products they do not want.
A significant number of people in the UK are considered to be under-insured, leaving their loved ones to potentially face large bills or other costs in the event of sudden death. To tap this market, in February Aviva launched a range of support materials to help advisers raise the topic of protection with clients and announced it was re-running its TV advertising campaign on life insurance.
Aviva’s protection awareness campaign began in January 2011, with its national TV ad promoting the benefits of life insurance. This approach faces one large problem in that customers may decide that they do want life insurance but, when shopping around, find that they can get a better deal with a company other than Aviva.
However, the approach has clearly been considered a success and the new video builds upon it. Aviva are hoping that customers new to the life insurance market will increase their market share more easily than targeting existing customers of other companies.
At a time when families need even more security, not having financial security in place is a huge burden in their already troubled worlds. It is therefore vital that parents take those few minutes to make sure that should the unexpected happen, their loved ones are cared for.
Anyone looking to buy a life insurance policy should consider as many options as possible before making a decision that balances the right level of cover with an acceptable price. If you are unsure at any stage you should consult an independent financial adviser.