"This brings us back to the fundamental issue: what represents true value for the client?"
Alan Lakey
Almost two years ago, CIExpert launched its Single is Best campaign, with the objective of challenging the industry's default position of recommending a cheaper joint life policy and encouraging advisers to focus instead on delivering genuine value.
The campaign has achieved a significant degree of success. A number of networks and adviser groups have since amended their compliance guidance, encouraging consideration of two single life policies rather than automatically opting for a joint life arrangement.
Our own research indicates that 29% of advisers have changed their approach as a direct result of the campaign. That is a positive shift. However, it also highlights that there remains work to do. A further 27% of advisers were unaware of the campaign — a level of disengagement that is worryingly similar to the lack of consumer understanding around the choices available.
