This session explores the complexities of replacing life insurance, TPD, and trauma cover, with a strong focus on advisers’ best interest duties. It highlights that decisions should not be based on price alone, but must consider policy expiries, terminal illness definitions, and additional features such as financial planning benefits, funeral advancements, wellbeing programs, and loyalty bonuses. The video also compares older legacy policies that often contained unique benefits, reminding advisers to document both advantages and disadvantages when recommending replacements
Accreditation Points Allocation:
0.25 Regulatory Compliance and Consumer Protection
0.25 Professionalism and Ethics