VitalityLife has unveiled a risk calculator to help advisers discuss the sensitive subject of a client experiencing a serious illness or dying before retirement.
In under a minute the calculator will produce a personalised risk report based on age, gender and smoker status. This will show the percentage likelihood of being unable to work for one month or more through ill-health, the likelihood of experiencing a serious illness and the risk of dying.
It calculates how these percentages could improve should the client engage in a healthier lifestyle.
Deepak Jobanputra, deputy chief executive at VitalityLife, said: “By better understanding the risks, advisers can highlight the importance of having cover and make sure their clients have the appropriate financial protection in place.
“We want to be there to pay claims and provide support, but we also want to ensure our members enjoy the benefits of staying healthy too, whether they make a claim or not.
“This new tool helps emphasise the potentially very real difference a healthier lifestyle can make.”
As well as personal risk, the calculator can also assess business risk, which focuses on the business owner or key employees.
Alan Knowles, managing director of Cura Financial Services, said: “With a few basic questions we can show a client the risk of a serious event occurring to them.
“Using this information we can then highlight how such an event could impact the client and their family.
“VitalityLife also brings a new dimension to this type of tool by showing how much you can reduce this risk through healthy living.”