IOOF launches insurance panel
IOOF has partnered with three retail insurers in a bid to broaden the choice offered through its Pursuit channel.
From today, clients with IOOF Pursuit accounts will have access to AIA Australia's Priority Protection, TAL's Accelerated Protection and Zurich's Wealth Protection products via a new panel.
Commenting on the launch, IOOF general manager of distribution, Renato Moto, said the products were selected to offer flexibility to advisers and their clients, with longer benefit periods, higher lump sums and access to non-super offerings.
He said hoped the move would help tackle underinsurance.
"With underinsurance a major issue facing Australians, allowing advisers to provide their clients with insurance advice that is tailored specifically to their needs is more important than ever."
Recommended for you
The Federal Court has dismissed a conflicted remuneration case brought by ASIC against the director of life insurance distributor Freedom Group, where Bali holidays and Vespa purchases were among sales incentives.
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.
