Future of Risk Insurance Advice

The ‘Future of Risk Insurance Advice’ aims to develop long-term policy solutions for the risk advice industry.

Damien Mu, CEO of one of Australia’s biggest life insurance companies, AIA Australia, said disallowing commissions would force good quality, independent advisers out of the industry, leading to poorer outcomes for consumers. This had been demonstrated in the UK, he said, where life insurance can only be paid for via a fixed fee.

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