Latest Poll – Is the Tide Turning?

Our latest poll asks you to consider whether things may (or may not) be turning around for the life insurance advice sector.

Over the last year, thousands of dedicated advisers have put the cue in the rack when it comes to delivering life insurance advice or to delivering any advice at all, either because it’s become too hard to make risk advice commercially viable or because the adviser exam and/or minimum education standards have been a factor in their decision whether to continue.

This is a bleak reality which has emerged in recent times, where there are no winners – not least of which include the mums and dads market of middle Australia, so many of whom desperately need life insurance and financial advice services and so few of whom, it appears, are accessing that quality, affordable advice solution that would serve them in a meaningful way.

Has the bottom been reached yet? Probably not. But are there signs the tide is indeed turning for the risk advice sector?

…the politicians and law-makers may finally listening – actually listening

Michelle Levy’s support for the retention of risk commissions (see: Retain Risk Commissions – QoA Review) may at least form one building block on the road to recovery for the sector, while other advisers – some of whom may have developed a sense of cynicism over the journey, have told Riskinfo they think that the politicians and law-makers may finally listening – actually listening – to the arguments being advocated by the life insurance sector during the course of the last 12 months.

At the moment, times are tough for many who work within the life insurance advice sector, including advisers, their support team, dealer groups as well as insurers seeing their new business sales continuing to fall and ultimately the end user – the consumer – who isn’t being reached.

But what do you see tomorrow? Are you now more optimistic that there’s light at the end of the tunnel for the sector? Cast your vote and let us know your thoughts – either way – and we’ll report back next week…