Phil Meech
Life Insurance Specialist for all clients and businesses Australia Wide
Location
Adelaide, South Australia
Professional background
I’ve been a financial planner for over 25 years and prior to this, I was a small business owner for many years. My journey in insurance started with AMP back in the 1990s and today, I continue to specialise in income protection, trauma cover and Total and Permanent Disability cover.
Why do you like working with Sustainable Life Solutions as an adviser
Working with Sustainable Life Solutions as an adviser has been a bit of an eye opener for me. After being in the industry for more than 25 years, I found working as an adviser in general advice to be far more client friendly than my previous role as a financial planner. I talk to my colleagues in the industry and explain to them what I do now and they all say – “that’s just how it should be”. I like how easy it is doing business with the Sustainable Life Solutions technology driven general advice platform. The platform keeps all my client information up to date and it’s really easy to use. I get great support from the local team and this frees up my time to focus on my clients.
Key area of specialisation
Income protection, trauma cover and Total and Permanent Disability cover across Australia.
Describe how you have helped a client that made you a great partner to the client
One day, my doctor asked if I would have a look at his insurance policies as he felt it was a bit expensive. I reviewed his policies and they would not pay him if he were to make a claim as they were written such a long time ago. I helped him obtain new insurance and in the process, saved him $22,000 a year on his premiums. I work closely with my clients who are in a claim as they need a lot of help. I’m with them to get the claim through and to see them through the ongoing requirements as part of my service.
Geographical areas you represent
National
What is one thing you would like clients to think about when it comes to life insurance
I think clients should think about why they actually want insurance and what they want out of it. At the end of the day, it’s about whether they want to look after their family, their business or themselves. Your biggest asset isn’t your home – it is you. You don’t have an income if you don’t insure yourself.
Your approach to general advice when you work with clients
I have clients from when I very first started and over the years, they tell me what they want. With the new clients, I find it’s the way I ask questions so I can help my clients to achieve their goals. They feel more comfortable and more invested in the insurance process as they have a say. With general advice, we can help on board clients until an insurance product meets their financial needs. Instead of waiting two or three months to get a new policy, they can have it within a couple of hours.
Recommendations for consumers who are considering general advice
The general advice process is quick and easy. There are no invasive questions, no drawn out fact finds. There are no Statements of Advice because we aren’t giving advice – we’re just acting on our client’s direction. I send information from ASIC and government websites for my clients to review and to think about how much cover they need ahead of our meetings. With general advice, clients can get insurance quickly and seamlessly. We provide charts that compare the most affordable policy or a fund that has the features they are looking for.
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