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You are mostly correct. However there is no way to service 80% of customers under the full advice process for insurances only. There needs to be some mid ground. Such as it can be sold under limited advice which offers choice of products/providers and adheres to the best interests duty. Sales by tied agents need to be banned as this does not offer choice or act in the best interests of clients. GA for all insurance sales should be banned as soon as there is any human interaction.