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Help your clients grasp the importance of financial protection in just a few seconds.

Risk Reality Calculator

What do other people really think?

Reactions to the Risk Reality Calculator really do vary – some people go a little quiet on seeing their results, whilst others are surprised and talk openly about their current financial situation.

Take a look at how some people reacted and just how quickly each one starts to consider the risks they want to protect.

Video transcript

The risk reality calculator – what did the public think? What were their results?

23% risk of being unable to work for 2 months or more.

32% risk of a serious illness.

18% risk of death.

And 77% likelihood of any of the above happening.

What were their reactions?

One in 4 chance of getting a serious illness is quite surprising because I feel myself quite fit and slightly worrying 12% risk of death.

That’s a shock you know, and as well, like a 10% risk of death.

A little bit worried I won’t be able to work for 2 months or more I guess. That’s quite a high percentage.

I’m quite surprised about being unable to work for 2 months or more. Half, one in two.

All of them, uh, especially the 9% risk of death. That one certainly would hinder you, wouldn’t it.

The biggest surprise for me is the combined 82%. Because you look at each thing on a stand-alone basis but when you look at the combined effect it’s is quite scary.

How would you cope if the worst did happen?

61% risk of being unable to work for 2 months or more. I think that’s quite serious because I run my own business and if that happened it would be a difficult situation.

If I couldn’t work for 2 months my business would close.

Is critical illness insurance for making sure that my wife and child are catered for if something happened for a couple of years and then obviously life insurance and wills and things so recently sorting that out.

In the short term, 2 to 4 months, I’m prudent so I always have reserves available.

Savings, that kind of thing. Um, lean on the parents. I don’t know!

Did it change their views on the need for financial protection?

From what I learnt from that, you have to prepare for the unexpected. I think so.

The whole insurance thing is a bit scary and not very appealing anyway.

Before, when you’ve got no dependents, you kind of think, well, it’s all right. I’ll cope. Life’s fine. But yeah, absolutely, when you start seeing risks and you hit a certain age…

Now looking at this, I’ll certainly look at getting the insurance.

I think looking at the results, I’ll definitely have a conversation with my other half about it and check, like I say, what he’s got in place.

It’s like one of those jobs that you never get around to doing, isn’t it. It’s the bottom of the list so it’s probably like checking how much you pay for your internet.

For the sake of a small sum a month, getting that in place, getting the cover in place and getting that kind of insurance is worth that small amount of money so I would, my views have changed. The conversation I’ll have tonight is probably going to be slightly different and I’ll probably, you know, some time in the next couple of weeks, be taking probably actually getting around to taking it out just because I’ve seen these numbers now and it’s kind of given this real world realisation about the risks of me dying or her dying and the impact it could have.

Are you prepared?

Adviser feedback

The calculator has been used to power over 30,000 conversations about financial protection. But don't just take our word for it, here's what advisers say.

The Risk Reality Calculator is a really powerful tool to use with customers, it highlights the need for covering all the bases, showing that life insurance should be last on the list not first, and it does this quickly! It’s simple to use and has an instant impact due to the way the statistics are displayed, I can then talk through what cover is available to protect each individual aspect step by step.

Pink adviser

I am a huge fan of the Risk Reality Calculator. It’s a powerful tool that can be personalised towards clients to highlight the everyday risks we all face. Already, this has led to a pickup in my protection business and it’s proved a great starting point to engage clients and let the stats do the talking.

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