Labor ready to listen on life/risk commissions
The Federal Opposition has foreshadowed supporting changes to insurance inside superannuation to overcome unintended consequences.
As well, it has indicated a willingness to listen to planner arguments around commissions in the context of the Life Insurance Framework (LIF).
Addressing the Financial Services Council (FSC) Insurance Summit, Opposition Financial Services spokesman, Stephen Jones argued that it was possible to fix problems with respect to insurance inside super without changing the overall policy thrust.
He said that there was a willingness to look at some of the undesirable consequences with a view to making the policy work better.
On life advice commissions he said that while Labor accepted the prima facie argument against commissions it was open to be being persuaded on the merits of the issue.
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