Time is Running Out

SRB has always been troubled by the number of advisers who allow their clients to remain undecided when offered terms on a protection product.

This practice hold real dangers for the adviser as the client can easily become uninsurable in the interim. Claims for maladministration are not unknown and are very difficult to defend

This is not a theoretical danger. SRB has already had 3 cases where this has happened. All three lead to threats of complaint. One client had died within weeks of application.

We have posted on this site a draft letter for advisers to send to their clients. It comes in 2 parts. The first explaning the need to make a decision. The second a response form for the client to sign either asking for cover to go on risk or for the case to be marked NPW.

SRB Note: We offer these letters as suggestions for your practice. It is down to you to decide the final wording. We do not take any responsibility for their content or your compliance