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Weekly Life Insurance News Roundup

November 12th, 2012 | Posted by Editor in News

AIA Australia improves adviser quoting and app tool
AIA Australia has revamped its online quoting and application tool eApp Express for advisers in direct response to adviser feedback. It’s understood that eApp Express – which lets advisers electronically lodge life insurance quotes and applications – has been designed to cater for the growing numbers who working via new platforms and browsers including tablets, laptops, notebooks and ultrabooks.

Adviser: Why I left AMP
This financial advice practice owner reveals why he decided to leave the comfort of a major institution and go it alone.
Speaking at the AFA National Conference, Phil Campbell from Edplan – which services the teacher market – explained that he started as a life insurance agent back in 1983, and managed to build the practice up to a value of $2m by the year 2000.

Choosing the right insurance
HAVING life insurance is an important financial safeguard for our family and loved ones if the unexpected occurs. While discussing life insurance can be a sensitive topic, without some planning for the unexpected it could be incredibly difficult for many families to maintain their current standard of living.

APRA concerned about direct life sales
The Australian Prudential Regulation Authority (APRA) has used its annual report to express concern around directly-marketed life insurance, saying many concepts are unproven and the market is becoming crowded. The regulator’s annual report, released on Friday, points to the fact that the direct marketing of life insurance has blossomed with the emergence of new distribution channels.

Life commission clawback forced on advisers: Synchron
Life insurance companies, through their association with the Financial Services Council, are working together to form an anti-competitive remuneration model for financial advisers, said independent dealer group Synchron. Synchron, which has previously threatened to take the Financial Services Council (FSC) to the Australian Competition & Consumer Commission, has hit out again, saying it would support a new model for adviser remuneration if it were driven by competitive forces.

This material is not intended to constitute personal advice, and must not be relied on as such. This information has been prepared without taking into account your objectives, financial circumstances or needs. Before making a decision based on this material, you should consider the appropriateness of this material having regard to your own objectives financial circumstances and needs. You should consider obtaining independent advice before making any decision.

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