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Category | Remuneration

Latest Poll – Life Insurance Framework Update

As the life insurance industry forges head-long into uncharted territory next year, we’d like to know where you stand after twelve months into the three-year Life Insurance Framework reform transition period. (more…)

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5 · December 18, 2018 in Compliance & Regulation, Remuneration  

AMP Life Announces Closing Date for New Business

AMP Life has confirmed the closing date for new business into its AMP Elevate range but has indicated it will continue to accept new applications from advice clients who pay premiums via one of AMP’s platforms. (more…)

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0 · December 14, 2018 in Company News, Products, Remuneration, Services  

Seeing More Clients Will Not Save Risk Advice – ClearView

Risk advisers are unlikely to survive under the LIF changes by selling more insurance or seeing more clients and should consider expanding their services or implementing a mixed fee and commission model, according to ClearView. (more…)

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11 · December 4, 2018 in Compliance & Regulation, Products, Remuneration, Services  

Risk Commissions Will Remain – Advisers

The majority of advisers believe risk commissions will not be consigned to history. (more…)

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2 · November 20, 2018 in Compliance & Regulation, Polls, Remuneration  

Latest Poll – The Future of Risk Commissions

Questions stemming from the Insurance Round of the Banking Royal Commission, and the responses they have generated, has prompted our latest poll. (more…)

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7 · November 13, 2018 in Compliance & Regulation, Polls, Remuneration  

Revised FSC Life Code to Cover All Distribution Channels

The Financial Services Council (FSC) has released a draft of the second version of its Life Insurance Code of Practice (LICP) which it intends will apply to all distributors of the products of a life insurer. (more…)

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0 · November 13, 2018 in Associations, Claims, Compliance & Regulation, Products, Remuneration, Services, Underwriting  

FSC Supports Commission Retention For Advisers

The Financial Services Council (FSC) has thrown its support behind life insurance advisers recommending that no further changes be made to life insurance commissions beyond those currently taking place under the Life Insurance Framework (LIF). (more…)

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3 · November 9, 2018 in Associations, Compliance & Regulation, Remuneration  

Insurance Commission Not Under Review Until 2021: ASIC

ASIC has told the Financial Services Royal Commission that it will not seek any changes to life insurance commissions to at least 2021 and that any sudden ban on commissions would negatively impact consumers. (more…)

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2 · November 8, 2018 in Associations, Compliance & Regulation, Products, Remuneration  

Removal of Commissions Would Damage Insurance System

The complete removal of life insurance commissions in Australia would inflict significant damage on the life insurance system that would be difficult to reverse, the AFA has claimed. (more…)

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30 · November 6, 2018 in Associations, Compliance & Regulation, Remuneration  

Bank Push to Remove Trails Will Not Include Life Insurance

Efforts by Australia’s banks to end grandfathered payments and trail commission for financial advisers will not include life insurance commissions. (more…)

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3 · October 16, 2018 in Associations, Compliance & Regulation, Products, Remuneration, Services