Monthly Archives: January 2020
AMP Called On to Waive Adviser Debt
AMP is being called on to waive debts for those financial planners facing AMP-imposed reduced buyback values and is urged to formally commit to mediation as it moves to exit up to 250 financial...
ClearView to Cease Agreed Value IP in Line With APRA Timeframe
ClearView Wealth has announced it will discontinue the sale of Agreed Value income protection insurance contracts from 31 March 2020.
The insurer made this announcement in an ASX trading update, in which it states it...
Fees Versus Commissions
New research suggests many Australians would prefer to pay an upfront fee for life insurance advice if this translated into lower premiums over the lifetime of the policy. Reflecting on this finding, CoreData’s Kristen...
High Cost of Living May Be Harmful for Under-Insured Australians – Integrity Life
Integrity Life has warned that the high cost of living in the latest CPI data, which recorded an overall year-on-year increase to December 2019, may have particularly harmful consequences for under-insured Australians.
The insurer says...
FASEA December Adviser Exam Results See 86%+ Pass Rate
FASEA has released the results from the third Financial Advisers Exam held in December 2019 in which more than 86 percent of candidates passed the exam.
This compares with more than 90 percent passing the...
Financial Ombudsman Warns Against Insurance Middlemen
The Australian Financial Complaints Authority (AFCA) has warned people affected by recent natural disasters, against signing up with insurance middlemen in the hope of progressing their claims.
AFCA Chief Operating Officer, Justin Untersteiner, says in...
Fees for Risk Advice Not Realistic – Poll
Advisers have been generally united in shooting down the notion that Australian consumers may be open to the idea of paying fees for life insurance advice.
Our poll results to date and the comments we've...
Retail Risk Sales Continue to Head South
Individual lump sum and income protection insurance sales are continuing their downward trend, according to latest data released by Plan For Life.
In the year ending September 2019, PFL reports individual lump sum new business...
MDRT to Donate US$50,000 to Bushfire Relief
Million Dollar Round Table (MDRT) and the MDRT Foundation are committing to a joint gift of US$50,000 to help to mitigate the impact of the bushfires with US$25,000 going to the Australian Red Cross...
How Understanding Preventative Health Can Help You Provide Better Financial Advice
TAL’s Dr Sally Phillips emphasises the value of preventative health measures in this article. Her message reflects the evolving nature of life company narratives in 2020, which extend well beyond simply insuring a policy...