December 18, 2018
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…)
Category | Remuneration
AMP Life Announces Closing Date for New Business
December 14, 2018
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…)
Seeing More Clients Will Not Save Risk Advice – ClearView
December 4, 2018
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…)
Risk Commissions Will Remain – Advisers
November 20, 2018
The majority of advisers believe risk commissions will not be consigned to history. (more…)
Latest Poll – The Future of Risk Commissions
November 13, 2018
Questions stemming from the Insurance Round of the Banking Royal Commission, and the responses they have generated, has prompted our latest poll. (more…)
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
0 · November 13, 2018 in Associations, Claims, Compliance & Regulation, Products, Remuneration, Services, Underwriting
FSC Supports Commission Retention For Advisers
November 9, 2018
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…)
Insurance Commission Not Under Review Until 2021: ASIC
November 8, 2018
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
2 · November 8, 2018 in Associations, Compliance & Regulation, Products, Remuneration
Removal of Commissions Would Damage Insurance System
November 6, 2018
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…)
Bank Push to Remove Trails Will Not Include Life Insurance
October 16, 2018
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
3 · October 16, 2018 in Associations, Compliance & Regulation, Products, Remuneration, Services
