Hi Churner, I think you misunderstand what they are talking about - they are not saying "we've got these clients in old legacy products so let's wind them up and leave the client in the lurch". They want to wind up the products but transfer the existing policyholders to newer/better products. These old products have very complex tax structures that the FSC members want the Government to be flexible on when winding them up. It's a win win, the client gets a modern product and the insurer reduces costs by moving from outdated products and systems.
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