Client success story: the time we helped our customer quit smoking

As a lifestyle partner, one of the things we do is support our customers in their goals. We have seen everything from self-improvement to protecting their family. Troy’s goal has been to quit smoking. Here’s how we helped him do it.

Being in his 50s, Troy is looking for insurance to protect himself and his family as he ages.

Because he’s also got a mortgage, he was considering life insurance to ensure an income for his family should he pass away so they can make their payments and sustain themselves.

However, smokers face much higher life insurance rates than non-smokers. We presented both a smoker and non-smoker rate for Troy to compare. The smoker rate was nearly three times higher, working out to an extra $500 a month out of his pocket.

Obviously this was unworkable for Troy’s budget and he resolved to quit smoking. To qualify for the non-smoker rate, he will need to have quit for 12 months before starting his policy. In the meantime, Troy decided to get an injury-only disability insurance policy that does not factor smoking into the premium.

However, he will still lack life insurance over the next year and we want to make sure he is protected. Therefore we sourced alternate solutions to meet his needs while he waits to qualify for the better rate.

We offered to change the conditions of his life insurance from a 20 year term to 10 years and reduce his coverage limit to half a million dollars from one million. These workarounds helped make his premium competitive even as a smoker.

Troy now has a decent amount of coverage tide him over the next 12 months at which point we will change his policy to the 20 year non smoker rate and return his limit to $1 million.

And from there, his favourable rate is locked in and will renew automatically every year, independent of whether he is smoking or not.

Creating such experiences for our customers is part of our approach to service that goes beyond the traditional model of insurance as a transaction. This way we have a stake in our customers’ lives and we can help the tackle challenges they would not normally associate with their insurance broker.

Call us if you need a reliable partner to support you in your goals.