Too Much Cash?

This morning I had an appointment with a prospect who was shopping around for an education policy.

As stated in my previous article today, I  did what I usually do & that is to initially share the concept of Income Protection before moving on to what the prospect wanted, in this case, an education policy for his 2 children. Based on the facts he presented to me, this young businessman had a high positive networth (in plain english, he has more money/assets than he owes to others).

Another interesting fact was that his current policy & financial portfolio is sufficent to cater for all his income protection needs at the moment. Thus, he was really into purchasing this education policy for both the children not only because he had some extra cash to spend but also due to the fact that he very was well interested to benefit on the tax returns that comes with education policies.

Now, to be honest, I can confidently say that he is 1 in a 100 because all the other prospects I meet usually wind up into one of these categories :

  1. They do not have sufficent income protection
  2. They have not been advised on the importance of income protection
  3. They do realize the need to protect their income but put it on hold for other less important things
  4. They have many insurance policies but not even one of those polices are for the sole purpose of protecting thier income
  5. They haven’t the slightest idea on what income protection really is

Which group do you belong to? 


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