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Polls Archive

What is the most significant factor preventing a greater take-up of life insurance by Australian consumers?

  • Adverse consumer attitudes towards life insurance and/or financial advice (44%)
  • General economic conditions and affordability (29%)
  • Other issue(s) (10%)
  • Product complexity - it's just too difficult (9%)
  • Life companies failing to learn from the lessons of the past (7%)
  • Adviser remuneration issues, including churning (1%)
  • Not sure (0%)

Start Date: March 17, 2015 @ 11:20 am
End Date: March 30, 2015 @ 7:47 am

In order to improve the public perception of advisers, the word 'commission' should be replaced by a new term, such as 'adviser service fee'

  • Agree (63%)
  • Disagree (33%)
  • Not sure (4%)

Start Date: February 24, 2015 @ 1:25 pm
End Date: March 17, 2015 @ 11:25 am

If risk commissions were banned, what would you do?

  • Leave the industry (43%)
  • Charge a fee for risk advice services (29%)
  • Stop advising on risk and deliver investment and super advice only (14%)
  • Not sure (10%)
  • It wouldn't have any impact on my business (4%)

Start Date: February 10, 2015 @ 4:20 pm
End Date: February 24, 2015 @ 1:25 pm

What is your most preferred choice of the five remuneration alternatives outlined in the interim report of the Life Insurance and Advice Working Group?

  • Current hybrid commissions (73%)
  • Level commissions plus fees (10%)
  • Modified hybrid commissions (9%)
  • Level commissions only (7%)
  • Funded level commissions (1%)

Start Date: January 13, 2015 @ 2:14 pm
End Date: February 10, 2015 @ 4:19 pm

What is the most important initiative you would advocate in response to the call for the industry to move to level commissions only for life insurance advice?

  • Retain upfront commissions but black-list serial churners (36%)
  • Support a move to hybrid and level commissions only (33%)
  • Retain upfront commissions but restrict to level commissions only for replacement business (12%)
  • Support a move to level commissions only (7%)
  • None of the above (6%)
  • Go further and ban all life insurance commissions (4%)
  • Move to a commission model based on quality of business (2%)

Start Date: December 9, 2014 @ 4:38 pm
End Date: January 13, 2015 @ 2:28 pm