Taking a holistic health view to help reinforce value for clients

Dr Priya Chagan, TAL General Manager of Health Services  
Dr Priya Chagan

TAL General Manager of Health Services

As people continue to aim for holistic wellbeing, recognising the interdependence between financial, mental, and physical health will help to enable advisers offer more comprehensive and tailored guidance.

Integrating preventative health discussions into financial advice and exploring the interconnected dynamics of wellbeing can enhance advisers’ relationships with their clients. This will ultimately enable clients to make informed choices that promote financial security and health simultaneously.

The skin health of our nation

At TAL, we care about the health of every Australian and we are always looking for new ways to help our customers live as healthy and full a life as possible.

Complementing our work and focus on holistic health, over the past eight years our TAL SpotChecker program and research has aimed to shine a light on the current skin health of our nation and bring greater awareness on necessary skin safety measures.

For advisers, the program is an opportunity to prompt a change or start a conversation with their clients around skin safety. The initiative reflects TAL’s strong belief in the role preventative health plays in Australians’ overall wellbeing.

The TAL SpotChecker 2023 research1 found that while 79% of Australians claim to understand the importance of prioritising skin health, almost 3 in 4 (72%) admit they should be doing more to protect themselves against skin cancer.

Skin cancer is one of Australia’s most common cancers, with 2 in 3 Australians set to be diagnosed by the age of 70 according to the Cancer Council of Australia2. As one of the most easily detectable and preventable cancers, it is incredibly important that preventative health is prioritised, and in the context of skin cancer, this means self-checking to become an integral part of everyone’s general health routine.

With 30% of Australians saying they don’t know how to properly check their skin, and an additional 1 in 4 (26%) saying they don’t know what to look out for that could indicate skin cancer, our insights indicate there is more education needed to encourage Australians to add skin safety practices to their proactive health routines.

Demonstrating value through holistic advice

Life insurers can enhance adviser support for their clients by actively promoting a focus on health and preventative measures through offering relevant tools and resources. This will only help to contribute to achieving long-term overall wellbeing.

As an example, by breaking down real TAL claims data by age, gender, and insurance type, TAL’s Reality Checker was designed to help advisers demonstrate the value of insurance to their clients. The online, interactive tool allows advisers to enter client demographics to calculate a range of relevant facts and figures based on retail claims paid by TAL and ultimately supports the holistic health of clients.

Empowering clients to take control of their health and wellbeing is a positive step in cultivating deeper and more engaging relationships with them. Beyond traditional and typical financial advice, showing a genuine interest and establishing a holistic understanding of a client’s health goals will only help to position themselves as a trusted partner.

Demonstrating a forward-thinking approach that considers the clients’ long-term wellbeing and financial security, not only promotes good health and empowers clients to make informed choices, but also builds value through holistic guidance to further reinforce the role of an adviser. 

1The survey was conducted by Edentify Pty Ltd on behalf of TAL, in October 2023, with a sample of 1,000 respondents in Australia aged 18-65+ years old

2 Cancer Council of Australia

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