Tag Archives: CIC

Last and Final Call on Financial Services Jargon

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My recent Podcast Interview with Rhys Williams on clarity of language in financial services struck a chord.

Thanks for your comments on the subject.

DE-PLANE!

Although guilty of using complex language, jargon and passive language in our communications we shouldn’t beat ourselves up too much. Other industries are just as culpable.

On a flight from Edinburgh to London last week I heard an interesting conversation between two American gentlemen.

Swapping stories about plane delays they had experienced in the past I heard one of them refer to leaving the aircraft as “De-planing”.

What a dreadful phrase. What is wrong with “getting off” or even the accepted English phrase of “disembarking”? How do you come up with a word like “de-planing”? When they get out of cars and buses do they de-car? Or de-bus?

I started to get quite grumpy listening to this conversation. But what finally put the tin lid on it was when the other American gentleman started to refer to getting off an aircraft as “De-boarding”.

Of course inside the airport terminal language abuse is just as rife.

Why do airport gate agents say, “this is the LAST and FINAL call…”?

I wish they wouldn’t. If it is the last call it is also the final one by definition and vice versa.

Of course it’s always the “last and final” call until they make another “last and final” call which means that the first “last and final” call was neither last nor final was it?

In the protection industry we talk about “Kick”. That means Critical Illness Cover. We recommend people buy “Eye Pee”. That’s Income Protection. And of course we overdose on passive language. “A cheque has been sent to you today” instead of the active voice, “We sent you a cheque today”.

The solution? Spot it. Have a giggle about it. And then change it.

Please have a listen to Rhys Williams on the Podcast. He’ll give you some great tips on how to do away with complexity , jargon and passive language.

MPAF17 - Rhys Williams

Now it’s your turn:

Please share your best example of complexity, financial services jargon and passive language. From any industry. Having a laugh about it is the first step in recognising the problem and then changing it.

Phil Jeynes on Partial Payments and Serious Illness Cover – MPAF12

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An increasing number of partial payments are now standard features of modern critical illness products.

But Pru Protect’s Serious Illness Cover has always paid out different percentages for different levels of severity.

Some say this approach is too complicated and difficult for customers to understand.

Others insist that this is the way that critical illness cover should be done.

My Guest on Episode 12 of the Marketing Protection and Finance Podcast is Phil Jeynes.

Phil Jeynes on Partial Payments and Serious Illness Cover

Hear Phil talk about how partial payments and Serious Illness Cover developed and how it compares to traditional critical illness cover.

Hear his suggestions about how to overcome the perception that it’s too complicated, and the business opportunities it represents.

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Who is Phil Jeynes?

Phil is Head of Account Development and PR at Pru Protect and is the public face of that company , famous in the UK for its Serious Illness Plan and Vitality – a type of critical illness product that pays out partial sums depending upon how severe the illness is.

Before that Phil was Head of New Business at Direct Life and Pensions Ltd.

In his spare time he is a keen footballer and Youth Chairman of AFC Porchester.

Phil’s Links:

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If you enjoyed this episode – Phil Jeynes on Partial Payments and Serious Illness Cover – please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

Alan Lakey on Critical Illness Cover – MPAF Podcast Episode 3

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Do you think that critical illness products have become too complicated?

In Episode 3 of the Marketing Protection and Finance Podcast – I talk to adviser Alan Lakey who’s built a business on the complexity of critical illness cover.

Alan is a well-known UK independent financial adviser thanks to his frequent appearances in trade media publications and clear views on critical illness cover and regulation.

He runs a firm called Highclere Financial Services. He’s had considerable success with a comparison engine called CIExpert.

Listen as Alan describes his business model and how CIExpert came about. Hear Alan’s views on the UK critical illness cover market. Whilst its complexity has boosted the success of Alan’s business, he believes the product is too complex and suggests alternative approaches.

Alan Lakey on Critical Illness Cover

Alan’s story is a fascinating example of third parties often having to create their own solutions to the industry’s complexities.

Links to Alan’s best business book: Improve Your Punctuation And Grammar by Marion Field
Connect with Alan on LinkedIn: Alan Lakey
Follow Alan on Twitter: @HighClere_FS and @CIExpert

Don’t miss an episode of the MPAF Podcast – subscribe now.

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Now it’s your turn:

If you enjoyed this episode – Alan Lakey on Critical Illness Cover – please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.