Industry Interview - Mike Lalouette

Financial Adviser Mike Lalouette has first-hand experience of the importance of income protection.

Even though Mike explained the affordability and necessity of income protection cover, a close family member decided against taking out this kind of policy. A few months later, she was involved in a serious car accident that meant an ICU stay, a broken collar bone, and over two months’ off work. For a commission-earning medical representative with only one month’s paid sick leave, this translated into serious financial difficulty during an already stressful time. It is stories like these that make Mike adamant that all working individuals need Income Protection.

1. How long have you been working as a Financial Adviser?
With over 40 years’ experience in the industry, I’ve been an independent financial adviser for 13 years.

2. Where are you based? 
Empangeni, Richards Bay

3. Do you believe that Income Protection is an ‘essential’ insurance?
Yes. Accidents happen every day. If you have an accident and fall ill and can’t work, will you be able to pay your bills? Maybe for the first month, if your company offers paid sick leave, but what if you are off work for longer? That could have some serious financial consequences.

4. Why do you recommend FMI’s Income Protection offering to your clients?
FMI’s product is a good one – Income Protection is their speciality and they offer a complete disability solution.