- Disagree (66%)
- Agree (26%)
- Not sure (8%)
Our latest poll result suggests a strong majority of the adviser community are far from keen on life companies delivering limited advice directly to policy holders. It also indicates that advisers’ thinking on the issue may have hardened somewhat since September 2023 when we posed the same question.
As we go to press, 65% of respondents to our latest poll disagreed with life insurance companies being permitted to deliver advice directly to their policy holders, while 26% agreed with the proposition and 9% were unsure.
…in a September 2023 poll, 58% disagreed with life companies delivering limited advice and 37% agreed it was okay…
When we first posed the question in a September 2023 poll, 58% disagreed with life companies delivering limited advice and 37% agreed it was okay, indicating advisers’ thinking on the issue may have hardened in the nine months between our two polls.
We re-posed this poll question in the light of more discussion around the prospect of life company-employed ‘qualified advisers’ delivering limited advice.
CALI has also released its position on the minimum education qualifications it believes should attach to qualified advisers employed by life companies (see: CALI Confirms Minimum Qualification Position).
The move to allow insurers, together with super funds and banks, to soon have the mandated capacity to employ staff to provide limited personal advice to policy holders, members and customers respectively, is borne from one of the recommendations made in the final report of Michelle Levy’s Quality of Advice Review.
Our poll is open for another week and we’d welcome your thoughts…
