Polls Archive

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

Which of the proposed FoFA amendments would have contributed most to allowing you to better serve your clients?

  • No single amendment - the main issue is the added cost of delivering advice (36%)
  • Removal of opt-in requirements (29%)
  • Removal of the final, catch-all (safe harbour) step in the best interests duty (11%)
  • Allowing 'grandfathering' of renewal commissions for advisers switching licensees (10%)
  • Removal of the requirement for retrospective Fee Disclosure Statements (9%)
  • None of the above (3%)
  • Allowing ‘general advice’ to be exempted from the definition of conflicted remuneration (2%)

Start Date: November 25, 2014 @ 3:18 pm
End Date: December 9, 2014 @ 4:50 pm

The growing complexity of retail life insurance products creates more problems than it solves

  • Agree (73%)
  • Disagree (24%)
  • Not sure (3%)

Start Date: November 11, 2014 @ 4:06 pm
End Date: November 25, 2014 @ 3:32 pm

Should the life insurance sector consider banning upfront commissions on replacement life insurance business?

  • No (60%)
  • Yes (34%)
  • Not sure (6%)

Start Date: October 14, 2014 @ 2:42 pm
End Date: November 11, 2014 @ 7:37 pm