Welcome back!
Scene One – Providing Entity
Hi James and Shanley! 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
James & Shanley live in the Rural area of Mansfield in Victoria, with 3 dependant Children. james works as a livestock agent & Shanely as a part time school teacher.
Upon a recent review of your Life Insurances, we discussed that the current Insurers premiums have increased substantially and you would like to see other options to save premium costs, without forgoing benefits.
You have three dependant children and live in the rural area of Mansfield, Victoria. James, you work as a livestock agent, while Shanley, you work part time as a school teacher.
Upon a recent review of your Life Insurances, we discussed that the current premiums have increased substantially and you would like me to explore other options to save premiums without forgoing benefits.
Show James and Shanley as 40yo couple with three young children. Then separately show James wearing cowboy clothing and hat and Shanley wearing dress and writing something on a whiteboard. Show these thtree images across the top in order. Then underneath, show insurance shield with label "Insurance" and line graph with y-axis labelled "Premiums" with red line going up. Space them out evenly please.
Scene Three – Scope And Goals
To obtain $ 1,500,000 of Life Insurance (each)
To obtain $ 830,025 of TPD cover using an OWN Occupation definition (each)
To obtain $ 221,430 of Trauma cover (Each), including reinstatement & buy back benefits
To retain $ 10,835 per month of Income protection insurance for James & $ 2,400 per month for Shanley, with a 90 day waiting period and age 65 benefit period
To reduce costs on our current renewal premiums: $ 4,437.47 for James with Zurich & $ 2,551.87 for Shanley with NEOS
We therefore agreed that this advice will cover insurance.
Your goal is to ensure that you obtain one point five million dollars of life insurance each, eight hundred and thirty thousand dollars worth of T P D cover each with an own occupation definition, two hundred and twenty one thousand four hundred and thirty dollars of trauma cover each, including reinstatement and buy back benefits, to retain ten thousand eight hundred and thirty five dollars per month of income protection for James and two thousand four hundred dollars per month for Shanley, with a 90 day waiting period and benefit period to age 65. Finally, you want to obtain these insurances at a reduction from your current premiums, which are four thousand four hundred and thirty seven dollars a year for James with Zurich, and two thousand five hundred and fifty one dollars a year for Shanley with N E O S.
Scope:
Insurance
Goals:
1. Obtain $1.5M life cover each
2. Obtain $830,025 of TPD cover each with 'own occupation' definition
3. Obtain $221,430 trauma cover each, including reinstatement and buyback
4. Obtain $10,835pm and $2,400pm income protection insurance for James and Shanley, with 90 day wait period and benefit period to age 65
5. Obtain the above at premiums lower than $4,437pa for James and $2,551 for Shanley
Scene Four – The Advice
Purchase the noted coverage with AIA for James with a premium of $ 3,451.87 p.a. & MetLife Aust for Shanley with a premium of $ 1,843.87 p.a.
This will provide a premium saving for James amounting to $ 982.60 p.a. & $ 708.00 p.a. for Shanley.
You will need to be underwritten again with the proposed new insurers and risk obtaining inferior policy terms. If that occurred we would discuss if terms are acceptable or not before accepting.
Benefits lost or gained
We do not beleive there are any significant benefits lost or gained with the proposed new Insurers as both a highly respected Insurers with highly rated insurance contracts. We will attach the respective product disclosure statements for the current and proposed Insurers for your review.
Shanley's Income protection sum insured will be reduced from the current level in line with Insurer requirements only paying up to 70% of your income.
My advice is to obtain the exact same types and levels of coverage as you currently own, but with A I A insurance for James, and Metlife for Shanley. Please note the following points in relation to my advice.
My advice results in a nine hundred and eighty two dollars per annum premium saving for James and a seven hundred and eight dollars per annum premium saving for Shanley. However, 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 do not believe there are any significant benefits lost or gained with the proposed new insurers as both a highly respected insurers in the industry with highly rated insurance contracts. I have attached the respective product disclosure statements for the current and proposed Insurers for your review. Lastly, please note that Shanley's income protection sum insured will be reduced from her current level because Metlife, like many insurers in the industry, only cover up to 70% of a person's income.
Show image of James on left and Shanley on right. Then show four types insurance shields under each person, with the same amounts as outlined in the goals. Label James' chields with AIA logo and label Shanley's shields with Metlife logo. (The sentence in the VO is not long enough to draw each shield and label individually, so maybe use hand draw animation to draw James and Shanley, but for all the shields and brand logos, maybe let's not hand draw them, but instead just fade them in together. First of all, fade all 8 shields and dollar labels in, then fade in all AIA logos when VO mentions AIA, and all Metlife logos when VO mentions Metlife. That way, the timing will match.
In next page, show "James saves $982.60pa" with a green tick and "Shanley saves $708pa" with a green tick on the left of the page. Then on the right, show the previous image of doctor with clipboard and all relevant labels.
On next page, show Standard Building with AIA label with a green tick over the building and Standard Building with Metlife logo with green tick over the building, then show image of a contract scroll page and show a green tick over that. Then show label "AIA PDS" and "Metlife PDS", and instead of a green tick to the left of each one, show a same sized paperclip image to demonstrate attachment.
On final page, show red exclamation mark with label "70% of Shanley's income insured only".
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 insurers A I A for James, and MetLife for Shanley, are significantly cheaper than the alternatives considered.
James and Shanley, it is important that you understand how we get paid. Because we recommended A I A and MetLife products to you, it is they who will pay us a commission. In the first year, we will receive from A I A and MetLife 66% of the annual premiums that you pay, amounting to $1,953 for James and $1,130 for Shanley. In all future years until you decide to cancel the policies, we will continue to receive 22% of your annual premiums, amounting to $651 for James and $422 for Shanley, based on the second year premiums. These are not amounts that you will be charged out of pocket, these amounts are paid by the insurers.
Same as previous visuals used
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 renewal notices and Sums insured, as a Needs analysis was declined 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.
James and Shanley, 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 renewal notices and 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