This could work. However it should not be sold under general advice without the requirement to adhere to the Best Interests Duty. Companies such as Real Insurance and Insurance Line need to be disbanded or restricted to Life Insurance only as they are JUNK INSURANCE.
Realistically insurances should only be sold by third parties who have to ability to compare diffferent insurance products from a range of prividers who are obligated to work in the Best Interests of the client.
Just get rid of all the red tape. It is ridiculous that an insurance sales rep can sell his/her companie's policies without having to have any formal qualifications, ongoing CPD points, no need to do an SOA or adhere to the Best Interests Duty, when a financial adviser needs to be university qualified as well and has to adhere to all the above simply to increase the sum insured for one of their clients.
Best Interests Duty for all insurance sales!!!!!!!!!!!
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