Recent industry lobbying saw a delegation of representatives from the Choice & Access to Life Insurance (CALI) group meet with politicians from both sides of Parliament to talk about the life insurance market and the challenges being faced.
The CALI group comprises Zurich, TAL, AIA Australia and MLC Life Insurance along with the FSC, the FPA and the AFA.
A statement from the AFA says its General Manager of Policy and Professionalism Phil Anderson, joined the delegation and it notes that one of the key objectives of the CALI group “…is the retention of the option for clients to choose to pay for their life insurance advice through commissions”.
“This is an objective where we are all on the same page,” the statement says.
It adds that CALI has commissioned research by NMG Consulting and prepared a white paper that is being used to explain the importance of life insurance and to outline the expectations of the community (see: Under-insurance Will Worsen, Advice Harder to Access).
“This research is expressing the view that Life Insurance is a Community Good, and that the policy settings need to do more to promote access.”
The statement adds that it’s important to proactively lobby politicians in advance of the release of the ASIC LIF 2021 Review report, which is expected to be provided to the Government at the end of next year.
I think the crowd has spoken – even a dead cat bounces.
Comments are closed.