{"id":77995,"date":"2025-07-08T19:09:44","date_gmt":"2025-07-08T08:09:44","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=77995"},"modified":"2025-07-15T11:45:15","modified_gmt":"2025-07-15T00:45:15","slug":"strong-support-for-change-to-lif-commission-structure","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/07\/08\/strong-support-for-change-to-lif-commission-structure\/","title":{"rendered":"Strong Support for Change to LIF Commission Structure"},"content":{"rendered":"<div id=\"polls-348\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Do you support a revised LIF remuneration model which includes a minimum commission payment designed to allow more risk advice to be delivered to Australians on low-middle incomes?<\/strong><\/div><div id=\"polls-348-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Yes <small>(84%)<\/small><div class=\"pollbar\" style=\"width: 84%\" title=\"Yes (84% | 198 Votes)\"><\/div><\/li>\n\t\t<li>No <small>(9%)<\/small><div class=\"pollbar\" style=\"width: 9%\" title=\"No (9% | 21 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(7%)<\/small><div class=\"pollbar\" style=\"width: 7%\" title=\"Not sure (7% | 17 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_348_nonce\" name=\"wp-polls-nonce\" value=\"cffcdcf9e8\" \/>\n<\/div>\n\n<p>Advisers have sent a strong message in support of a proposition to restructure the LIF commission caps.<\/p>\n<p>As we go to print, 82% of those voting in our latest poll agree with <strong>John Trowbridge&#8217;s<\/strong> call for the law-makers to set a minimum commission level intended to result in greater access to life insurance coverage for younger and lower-income Australians (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2025\/06\/30\/renewed-call-to-review-lif-commission-structure-trowbridge\/\" target=\"_blank\" rel=\"noopener\">Renewed Call to Review LIF Commission Structure<\/a>).<\/p>\n<p>This clear result comes as no surprise, as the outcome would be a win\/win for advisers and what would become a larger pool of potential clients for whom they could provide advice.<\/p>\n<p>What&#8217;s not as clear is how the life companies might respond to implementing such a model, where the equation of the incoming premium being paid by the younger or lower-middle income policy holder and the minimum commission paid to the adviser &#8211; say $2,500 &#8211; may not be one which puts a smile on the face of the actuaries.<\/p>\n<p>&#8230;And as has been the case for those arguing that any increase to commission caps would likely be accompanied by upward pressure on premium rates, it&#8217;s reasonable that such an argument might also be applied to John Trowbridge&#8217;s minimum commission proposal.<\/p>\n<p>Whatever the merits of Trowbridge&#8217;s proposition &#8211; and that of FAAA GM Policy <strong>Phil Anderson&#8217;s<\/strong> call to raise commission caps to 80\/20 &#8211; surely the time has arrived for the Government and Treasury to have this conversation with the sector. In fact, this conversation is past due.<\/p>\n<p>Our poll remains open for another week and as always, we welcome your thoughts&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers have sent a strong message in support of a proposition to restructure the LIF commission caps. As we go to print, 82% of those voting in our latest poll agree with John Trowbridge&#8217;s call for the law-makers to set a minimum commission level intended to result in greater access to life insurance coverage for [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":77997,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49,270],"tags":[],"class_list":{"0":"post-77995","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"category-polls","9":"category-remuneration"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/77995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=77995"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/77995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/77997"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=77995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=77995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=77995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}