What if you could get advice about life insurance without paying a cent? And without having to talk to anyone? Where you are the expert?
Closing the gap in getting advice
At Pinnacle Life the things we value are the people we love, a sense of security around the future, the work we do together, and helping our customers. With those things in mind, we could see a gap between what people wanted and what they had to do to be confident about choosing life insurance. So, we created a new tool.
In research conducted last year (2020) by the Financial Services Council (FSC), 65% of respondents said they didn’t think they had enough assets or wealth to need professional advice. We believe that everyone can benefit from getting advice; whether you’re young, and in your first job with no assets; you’re building a family; own one property or multiple properties and investments; are a student, banker, a retiree, a chef or a teacher or a whatever! The most credible financial advisers still ask their peers and other experts for advice whether they a little or a lot. So, you should too.
In the same survey, 62.5% of respondents said that professional advice was too expensive. We wanted to break down that barrier. There are no costs to our tool and no obligation to buy anything from us either. We developed the tool with support from independent advisors so we’re confident what we recommend will be appropriate to you. Our recommendations are based on our products because that’s what we know best but we appreciate you might already have cover elsewhere or have a relationship with another provider. We think our products offer great value, but we leave that for you to find out for yourself.
How it works
Up until now, if you knew you needed life insurance, you could use some simple calculators that considered your financial needs, or you could talk to an insurance adviser. Pinnacle Life has always offered life insurance directly, but we couldn’t help you work out how much you needed in a thorough and sophisticated, and regulated, way. Now we can.
The tool starts by asking you to think about who’s important to you, and who relies on you for financial support. It then takes you through a step-by-step process of working out what your drivers are for getting insurance, what you worry about and your financial circumstances. We give you some things to think about along the way, but the more you tell us about you, the more we can tailor the advice to your situation. This includes telling us about your family, your health, your finances and any life cover you have already.
The cool thing is it doesn’t take very long to go through the whole process, and you can do it as many times as you like. To make it even easier (and quicker) get any details about your finances ready before you start – things like how much you earn and the amount of assets or debt you might have. You can do it on the couch in front of the tv and wearing your pyjamas if you like, at 3 in the morning when you can’t sleep, on your own or with your partner, it’s up to you.
What’s the catch?
No catch. At Pinnacle Life, we’ve always loved doing things differently, and this is just part of that. We know our customers are usually online savvy people. We also know people are time-poor. We thought about ways to help our customers, and this was one of our solutions: no obligation, no charge, just a tool for you.
In the FSC survey, 43% of respondents said that receiving advice would help them be free of financial worries and stress. We can’t help with your investments or budgeting, but we can give you comfort that those you love will be well looked after if the worst should happen to you.
At the moment, Pinnacle Life are the only ones that can provide this service. Your alternatives, at the time of writing, to getting this kind of advice is to talk to an adviser. We know this doesn’t suit everyone, so if that’s you, get started with us today.
Get started here