The life insurance firm DeadHappy has announced that it “cannot accept” new life insurance customers at the moment.
The firm, known for its controversial adverts including one featuring murderer Harold Shipman, announced: “Our insurance partners have told us we can’t accept new life insurance customers at the moment.
“We wish it was different, we believe it should be different, but unfortunately not everyone agrees.”
However, the firm clarified the policies of existing customers would continue to be protected.
Release Freedom broker and director, Simon Bridgland, said: “With maverick advertising, DeadHappy have proved that pushing the boundaries of decency too far will be fatal to any business.
“Consumers voiced their anger very clearly in the short space of time that the business had a pulse.
“Now that their insurance partners have distanced themselves by demanding a stop to new business, DeadHappy are the ones flatlining.”
Chess Mortgages founder, Bob Singh, said while the closure is sad for the employees involved, it is also a “lesson to all business owners” who fail to recognise the fine line between humour and bad taste in their advertising.
Additionally, Rowley Turton director, Scott Gallacher, added that the closure reaffirms the “timeless truth” that life insurance is sold not bought.
“As a financial planner, I witness firsthand how many overlook the importance of insurance until the real-life implications of unforeseen events.
“Though lifestyle financial planning, I aim to make the case for protection by demonstrating its tangible impact on financial well-being.”
Opposing opinions
However, Protection 1st head of protection, Dave Corbett, disagreed with others views on the company, saying: “I liked the shock tactic advertising used by DeadHappy. I’d take that any day over the more banal and dour messaging that litters social media.”
Although Corbett recognised that he is “in the minority” in this opinion.
He added that, for him, the real issue is “more to do with the formulaic advice through technology”.
“Protection planning is for the long term and I don’t think these gimmicky tech solutions drive good behaviours with the end client,” Corbett explained.
Additionally, Richard Jennings Mortgage Services founder and managing director, Richard Jennings, said that, while DeadHappy’s adverts were “close to the line”, they aimed to take a serious product and make it more lighthearted to prompt discussion.
“Whilst not the exact route I would travel, anything that gets the general public to address the insurance gap has to be commended for at least raising awareness,” he said.
DeadHappy has been contacted for comment.
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