It is no surprise that the COVID–19 pandemic has put a lot of fear and doubt in the minds of South African citizens.
Many factories, shops and small businesses have been forced to close temporarily, travel bans have been enforced and individuals are panic buying due to the unknown of what may be next. On top of this, most clients are feeling the financial pinch in these stressful times.
As humans, stress doesn’t always bring out the best in us. Research on decision – making shows that our brains are wired to be more reactionary under stress. This can mean that, when stressed-out, people resort to binary choice-making, limiting the options available to them. In tough moments, we reach for premature conclusions rather than opening ourselves to more and better options (Carucci, 2017).
It is this natural reaction that leads clients to choosing to cancel or reduce their life insurance policies, rather than suspending their DSTV account. Although it keeps the children busy during lockdown, it is also putting their families at risk should anything happen to them.
Think about the reason they first took out life insurance; and to understand that in the most uncertain times you don’t want to lose the certainty that cover provides.