Policy ownership, a simple concept?
It seems it's not. And given the time and dialogue, I need to name names on this issue.
I wrote in an earlier article that I had discovered a bank was systemically administering policies in a way that is both contrary to industry understanding and the law.
Frankly, a basic level five core paper, everyone is complaining about doing, outlines it really clearly.
The policy owner controls and is the beneficiary of the policy.
"The owner of a life insurance...MORE»
As confusion reigns and opinions are strong, is it all a bit much?Thursday, October 31st, 8:07AM
There are so many options for advisers under the new regime; licensing, coming under a licence, packing it in, or working for a bank or insurer. Jon-Paul Hale says the answer is quite simple. MORE» |
What is the advice risk?Monday, October 21st, 7:00AM
You could be forgiven for keeping your head down, servicing clients and paying the bills. And frankly, we all need to be doing that. MORE» |
To FAP or not to FAP, that is the question
There is plenty of ongoing discussion in the market around this question but should we also be asking – who owns the clients?
MORE»Finally, a breath that suggests it's not all about the advisers and their advice
As an insurance adviser, one of the challenges with the rhetoric that has been thrown around over the last few years, you could be forgiven for thinking we're the new whipping post.
MORE»The willful ignorance of a miopic point of view
Sounds angry and somewhat is. It comes from constantly being told that commission-based sales people, especially life insurance advisers, are bottom-feeding scum of the earth.
MORE»More work needs to be done on policy ownership
Getting the ownership of life insurance policies right is critical; but one bank has no idea, Jon-Paul Hale says.
MORE»Chicken Little and the falling sky
It’s been said to me before, J-P how about looking at the glass being half full? Funny thing is the human brain is naturally a bit pessimistic, 60/40% if the studies I’ve read on the subject are right.
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