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These may well be the very people that will now miss out on receiving quality advised risk insurance advice because the industry has been decimated with declining remuneration resulting in unprofitable business and an over compliance burden that is strangling the advice process to death.
If advisers who are experienced experts in their field and highly experienced in claims management process are no longer available to assist people just like this, it places an increased financial burden on the public purse and leaves families and businesses devastated when the unexpected happens.
People like this are not concerned if their trusted adviser was paid adequately for the advice provided and the correct products to be in place. The value they are paying for is when or if that strategy and product needs to go to work for them and their family and they have someone to rely on to assist them.
The amount of commission paid to the adviser at claim time is not a conversation that arises and yet the constant and relentless focus and pressure on squeezing the adviser out of business is resulting in a rapidly escalating cohort of people that will be left without adequate insurance in place.