Have your say on the LIF
Just a week out from the Association of Financial Advisers (AFA) conference in Canberra, the Life Insurance Framework (LIF) and other risk-related issues are continuing to be significant issues for advisers.
Money Management is surveying its readers to determine their attitudes on key questions confronting the life/risk sector, including the LIF and the insurer code of conduct which has been developed by the FSC.
You can participate in the survey here: http://fluidsurveys.com/surveys/cirruswealth/money-management-2016-life…
The results of the survey will be released at breakfast event to be held in Sydney on 27 October where a panel of senior spokesmen, including insurer chief executives and risk advisers will debate the issues. Tickets to the breakfast can be secured here.
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Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Planning Association of Australia.
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers.
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market and risk adviser numbers.
