Challenges faced by the professional market

Deon Theunis, the Head of Intermediary Support at Sanlam Individual Life discusses the challenges faced by the professional market and how this relates to their financial advice.

Deon believes that the challenges can be put into two broad categories. The first being the self-employed category and the other your employee category or your salaried professional.

• The self-employed professional - no work equals no pay and therefore from a risk perspective, it's crucial for them to insure their greatest asset, the ability to generate an income.
• The salaried professional - there is a big reliance on employee benefits, however these benefits are often not fully understood and these are often limited in terms of conditions that are covered and the amount of cover that is allowed.

• If one looks at the industry currently, there aren’t any offerings that are exclusive for your professional client. As a result, they end up with hybrid solutions.