Welcome back!
Scene One – Providing Entity
Hi Justin and Julie! Shaun here from Frost Financial Services, presenting to you your personalised video Statement of Advice on the XX of February 2025. My authorising licensee and contact details are on the screen now, should you wish to reach out to me at any time. Okay, lets get right into it.
Same as all Scene 1
Scene Two – The Client
Justin you are aged 60, married to Julie with 3 dependant children. You work for yourself in the computer Software Industry.
You were referred to me by Michelle Griffiths of TAG Financial Group. You have received your Zurich Life Insurance renewal which has become expensive. You are covered for $2,100,000 of Life & TPD (ANY & Buy back) cover with renewal premium of $ 35,104.82 p.a. You would like to source options for reducing premium costs without forgoeing benefits.
Justin, you are married to Julie and have three dependant children. You are self-employed in the computer software industry.
You were referred to me by Michelle at T A G Financial Group. You have just received your Zurich insurance renewals which have become very expensive, and are therefore looking for options for reducing premiums without losing the benefits.
Show Justin as a 60yo Caucasian man and Julie as a 56yo Caucasian woman, with 3 children.
Show the following four images at the same time:
- Life Shield
- TPD Shield
Then show line graph with y-axis labelled premiums, with red line going up.
Scene Three – Scope And Goals
To obtain $2,100,000 of Life & TPD cover, with an ANY Occupation defintion and buy back of Life cover.
We therefore agreed that this advice will cover insurance.
Your goal is to ensure that you obtain $2,100,000 of Life and T P D cover with an any occupation definition and buyback of life cover at cheaper premiums
Scope:
Insurance
Goals:
1. Obtain $2.1M life and TPD cover
2. Any occupation and life buyback feature
3. At lower premiums
Scene Four – The Advice
The premium cost will be $ 22,823.71 p.a., on a like for like basis, saving you some $ 12,281.11 p.a.
We do not believe their are any significant benefits lost in applying for cover with MetLife. The only area to consider is that you will require full underwriting again, noting you adivsed that you do not have any major health issues and consider yourself in excellent health.
I believe you should give some consideration for cover for Julie based on a similar level as yourself.
This would allow you to also pay down debt in the event of untimely Death or Disablement. The premium would cost $8,468.42 p.a. using the same Insurer. This cost would decrease your premium savings, but still provide an overall reduction in costs of $ 3,812 p.a. and include Julie.
We note that you have declined this area for the time being.
My first advice is for Justin to purchase $2,100,000 worth of life and T P D cover with Metlife Australia. Changing to Metlife will reduce your premiums by $12,281 per annum. Please be aware that this will require your insurance to be underwritten, and therefore, there is a risk your insurance may have exclusions or loadings.
I also recommend that the same insurance types and levels of cover be taken out for Julie with metlife, particularly as this would still result in an overall cost reduction of $3,812 per annum while including coverage for Julie. However, I note that you have declined this area for the time being.
Show Life and TPD shield with Metlife log on top and $2.1M label underneath. Between them, green tick and label "$12,281pa saved!". Then show same image as underwriting scenario from previous videos (image of doctor in coat holding clipboard).
Show Life and TPD shield with Metlife log on top and $2.1M label underneath. But between thw two shields, put image of Julie with speech bubble saying "No, thank you".
Scene Five – Fees And Costs
Product fees
Okay, this section is full of good news. First of all, you do not have to pay any upfront fees to us for preparing this advice for you. Secondly, as you can see on the screen, based on a like-for-like comparison of the different insurers we compared, the recommended Metlife policies significantly cheaper than the alternatives considered.
Justin and Julie, it is important that you understand how we get paid. Because we recommended MetLife products to you, it is MetLife who will pay us a commission. This is a flat commission of 33% of the premiums across each year. For example, in the first year, we will receive from Metlife $7,532. In all future years until you decide to cancel the MetLife products, we will continue to receive 33% of your annual premiums. These are not amounts that you will be charged out of pocket, these amounts are paid by MetLife.
Put "$ Upfront" label and put a red cross over it.
When voiceover is talking about comparison, show the Like-For-Like Comparison image, with a green circle around Metlife, and a red circle around other two insurers when the voiceover mentions it.
Rest same as other videos, but be careful when VO talks about commissions, previous videos have had Y1 column taller than the rest because 66% versus 22%, but now, all columns should be equal height and same colour because flat rate 33% commission.
Scene Six – Disclosures
Okay, we have now covered the advice in full and with that, there are a few important points I need to make. Please be aware that we have based our cover recommendations on the 2025 Zurich Life Sums insured, as a Needs analysis was not required as you confirmed the sums were adequate for your needs.
Secondly, please note that the advice in this video is intended for you only, as it takes into account your circumstances and therefore no one else should implement this advice.
If you decide to implement the advice, there is a 14-day cooling off period in case you wish to change your mind.
Although I receive insurance commissions for recommending you the insurance products, you can be assured that these commissions have not resulted in my advice to you being conflicted. This advice purely considers your interests only, and is therefore in your best interests.
Lastly, the advice in this video is valid for 30 days only from the provision of this advice.
Justin and Julie, this advice purely considers your interests only, and is therefore in your best interests. Please sign the A T P if you wish to proceed with my advice. Otherwise, if you have any questions, please let me know. Thank you!
1. Recommendations based on 2025 Zurich Life Sums Insured, you confirmed accurate
2. This SoA is for your only
3. 14-day cooling off period
4. No conflicts
5. This SoA valid for 30 days only
Rest of video same