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Case study – Insured benefits

Beverley Lee, Independent Financial Planner, worked with an existing charity client who wanted to put Group Life Insurance (also known as Death in Service) cover in place for their staff.

The client had already recieved quotes. However, our independence ensured they obtained a more suitable policy at a competitive rate.

The case

Insured employee benefits are an excellent way for our charity and not-for-profit clients to attract and retain employees. However, setting up such policies can be confusing and time-consuming so you may not have these arrangements in place yet.

Beverley recently worked with a charity interested in Group Life Insurance (also known as Death in Service) and Critical Illness cover for their employees. Previously, we had set up pension arrangements for this charity, so we already had an ongoing relationship.

During a meeting to establish the timeline to commence cover with their preferred insurer, our client informed us they had received quotes from another insurance broker. They had decided to proceed with one of these quotes as they were offering a lower rate.

Upon examining the quotes provided, our team found that the reason for the lower rate was a lower level of cover being offered in comparison to the terms that we had put forward. The charity was working within a strict budget and, by opening up the market to them, we were able to secure a higher level of cover with lower monthly premiums for both policies.

Seeing the effects of our work on her charity, the CEO became a financial planning client of Lucas Fettes Financial Planning. In addition, the charity later sought our advice on other financial planning services, which included charitable investments.

We pride ourselves on delivering value to our clients and fostering long-term relationships, so for us and the client, this is a positive outcome.

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