A fortnightly pearl of wisdom to fast track your success
CHRISISM #81 - P Plater Protection (Revisited)
18 December 2018
Almost exactly 3 years ago in Chrisism#5 I introduced you to the concept of P Plater Protection. I believe this concept is particularly relevant (and therefore extremely marketable) at this particular time of year, namely over the Christmas holidays.
If you watch any Australian free to air news bulletins over the Christmas holidays, then you can almost guarantee that they will include another tragic car accident resulting in another P Plate driver suffering major injuries.
When most advisers think of Trauma Cover, they think of those “traumas” that are responsible for the large majority of claims, namely cancer, heart attack, stroke and bypass surgery. The reason for this is that the large majority of people who own Trauma Cover are over the age of 35 and who are therefore heading towards the time of their lives when they become more likely to suffer one of “The Big Four” (as mentioned above).
What we need to understand and indeed convey to our clients is that Trauma Cover is a type of cover that is actually targeted at the client sitting in front of us, whatever their age may be. So if we are looking at getting this type of cover for clients between the ages of 18 and 25, then clearly we are not doing so primarily because of the risk of them suffering cancer, heart attack, stroke or bypass surgery.
Consider for a moment the five accident related traumas covered under a Trauma Cover policy, namely paralysis, major head trauma, severe burns, coma and loss of limbs. There is a reason why these specific accident related traumas are covered under the policy, and the reason is because statistically these are the most common injuries sustained in one particular type of accident – namely car accidents. And, by a country mile, which group of potential clients are the most likely to be involved in car accidents? P Plate drivers or indeed any drivers between the ages of 18 & 25.
If any of you have lived in households with one or more P Plate drivers, then you will know the anguish experienced by most parents (especially mothers) when they hear the car leaving the garage early in the evening, and that anguish only disappears when they (hopefully) hear the car arrive back at some ungodly hour!
How many parents of P Plate kids would jump at the chance of covering said kids against the five most common injuries sustained in car accidents – and for a reasonable sum assured involving a minimal outlay? I would suggest virtually every parent of P Plate kids would jump at this opportunity – if only they knew it existed.
So get out there right away and create a Christmas Awareness Campaign around P Plater Protection, and deliver a whole lot of peace of mind in the process.
Finally this year, make this Christmas your opportunity for some relaxed online education. Check out my Online Workshops, which give you a perfect opportunity to access invaluable content in your own time and at your own pace without the day to day business distraction you normally face.
Click on the link below for some short “Previews” of all four training programmes as well as all the content and pricing details. Also note that I am offering a 33% discount on any of my Online Workshops that are purchased (using the monthly payment option) in the month of December!
May I take this opportunity to wish all of you and your families a very Merry Christmas & A Happy New Year!
The Risk Workshop by Chris Unwin
Are you a financial adviser who would like all of your clients to have appropriate types and levels of personal protection? But perhaps you feel you need a more structured and client friendly engagement process?