Articles tagged with 'Jon-Paul Hale'
CPI, it's simple, right?
10 October 2024 - Most reading this in context of insurance would agree.
Appalling agency application processes
3 October 2024 - You'd think that with all the talk about licensing and managing advisers, insurers would have gotten their act together and sorted their systems to account for and address the various demands of their business and the new rules. Nope!
Be clear in explaining unfunded medicines
26 September 2024 - Jon-Paul Hale says when an adviser is talking to clients about medical insurance, they need to be very clear about how unfunded medicines are covered.
The messed up world of income protection structures
14 September 2024 - You may have noticed that we now have to age 70 as an option for the payment term on income protection.
The two-year wait advice problem
9 September 2024 - From time to time, I come across a particular advice situation that looks good on the surface but has some serious outcome risks for clients.
Should we be advocating self-serve?
2 September 2024 - This question is a bit of a dichotomy: Self-serve helps us manage our workload and focus on the stuff of being an adviser, but at the same time, self-serve directly reduces some of the value we provide.
The positive that we do
9 August 2024 - Many people reading my articles might think I'm grumpy and cynical, and sure, what you see here usually points out some problem or issue.
The Case for Simple Life
1 August 2024 - I talked about the case for Golden Life, which is one for life coverage and funeral planning. This is about the other benefits, risks, and needs.
When to use a Golden Life policy and changes that could be made
27 June 2024 - Funeral plans are no longer a viable product, mainly because they have been deemed unreasonable contracts. One alternative is a Golden Life policy. Jon-Paul Hale explains.
Unfunded medicines - You don't know it as well as you think
13 June 2024 - If you're involved in medical insurance, you will be familiar with coverage for unfunded medicines on most new medical policies.
Time for a new commission model
27 May 2024 - Adviser Jon-Paul Hale says it's time to review how commission is paid when clients move to a new adviser.
Servicing and Commissions
15 May 2024 - One issue the FMA has discussed is policy replacement and servicing commissions, which would remove the incentive for advisers to replace cover and get paid for the work they do.
Digital Docs more stuff...
22 April 2024 - Following my lengthy epistles on digital documents and management systems, I've been investigating this from the legal perspective.
Digital document ~~security~~ insecurity
16 April 2024 - Following on from my outline of the problem of digital document insecurity, I’m exploring how we can all improve this so we’re protecting clients and not unwittingly propagating fraud.
Digital Signatures and Fraud
28 March 2024 - As many of you will have noted, lately, we've seen a distinct shift in providers' approach to document sign-off with digital signature systems.
Appalling insurance industry service levels
15 March 2024 - Adviser Jon- Paul Hale reckons insurance company service levels have dropped to an appallingly low level across the industry.
If you dive into the weeds, then expect to drown in the swamp, eventually
1 March 2024 - Back in August 2023, Chatterbox responded with some pertinent thoughts, and I'm expanding on it.
Nominated beneficiaries and estate processes
27 January 2024 - We've seen the various discussions on nominated beneficiaries and the withdrawal of this with Partners Life some years ago.
Smoker or non-smoker? Are you sure?
25 November 2023 - Recently, I've had an interesting discovery with a client coming of age on their parent's policy, and they were transitioned to their own cover on smoking rates without any input or questions from the client.
Passbacks - How do they work?
15 November 2023 - Jon Paul-Hale looks into the issue of passbacks, and how they work.
Attestations, qualifications, and just general tick boxing
13 October 2023 - One of the goals of the new rules is to improve confidence in the market; another is to increase access to advice for the New Zealand consumer.
Privacy - Do we really understand it?
10 October 2023 - I've talked about the privacy act and client information protection in the past, and it seems to fall on deaf ears.
Authority Documents - What’s too far?
4 October 2023 - Recently, I've seen some pushback from providers wanting their documents for authority purposes, which is painful.
Let's talk about trust
25 September 2023 - My comments in my article on insurers not trusting advisers seem to have hit a chord. Not so much in comments but contact from providers.
Providers need to do the right thing when nobody is watching
21 September 2023 - A meme floating around says, "Integrity is doing the right thing; even when no-one is looking."
Burning down the house
9 September 2023 - Some will look at my recent antics as akin to burning the place down. My response, if I have to!
We may be trusted advisers to our clients, but insurers don't trust us
4 September 2023 - There, I said it. I've been skirting this topic for a few months, and it's finally come to a head.
Review of Loadings and Exclusions
8 August 2023 - Continuing my journey in the weeds on existing business servicing; policy terms. More specifically, reviewing policy terms for existing clients.
New law - new rules
13 July 2023 - You may have noted that I sometimes have a penchant for controversial comments. This isn't just to be contentious around the changes we have to deal with; it's to raise awareness of changes to how we are expected to work with the new rules.
The single biggest challenge with existing policies
30 May 2023 - The single biggest challenge with existing policies would be passbacks.
New Regime, New Thinking
16 May 2023 - One of the challenges we are all going to face is retiring. The recent regulation changes have put some focus on this for many and have resulted in accelerated retirement as a result.
Where in the Code is this?
4 May 2023 - I've had a client with a hard time with an accident injury, and they have little in the way of support.
Things advisers should be doing at claim time
28 March 2023 - It pays to be involved with clients at claim time and understand your policy wordings; I have been astounded over the years, despite product accreditation, about the number of advisers that just don't know their policy wordings. We need to do better.
When really does a life insurance policy start?
17 March 2023 - Jon-Paul Hale picked apart the disclosure requirements for clients in his last article. But one thing that struck him, and a few colleagues, was one simple fact. When does a policy actually start?
Specificity and Policy Wordings
15 March 2023 - We're heading into the final stretch where everyone should have their licensing and education requirements done; I'm not going to dwell on this, other than to say well done for getting it sorted and continuing your journey with this great industry!
What’s the choice?
22 February 2023 - Given that life advisers are now required to play both sides of the client relationship, which side prevails?
How are you treating your 18-21-year-olds?
23 January 2023 - This may come across as a little esoteric and doing obscene things to spiders, but stick with me.
Privacy is the issue no one is talking about
17 August 2022 - I'll get this out upfront; this is an issue that's not an issue until it is an issue, which will be the current view of many.
Vocational Retraining - Does it work?
1 July 2022 - When it comes to disability, having income protection is essential, but what about when recovery is challenging and returning to work isn’t easy to impossible?
Vax chat hits a raw nerve - advisers can do better
30 November 2021 - It seems a recent article on Covid-19 and underwriting the unvaccinated hit a raw nerve with some readers, and the responses across the Good Returns site raised an eyebrow or two.
Covid vaccination status a watching brief for NZ insurers
25 November 2021 - New Zealand life insurers are keeping a close eye on developments regarding the vaccination status of their clients but say it's too early to make any policy or underwriting decisions.
Unvaccinated may face higher premiums
15 November 2021 - Kiwi life and health insurers have some big decisions to make about how they plan to cover those who choose not to get vaccinated against Covid-19.
Covid puts pressure on premiums
2 November 2021 - Where is this Covid thing going to take us with health and life insurance?
Business as usual after Cigna sell-off
21 October 2021 - The surprise sale of Cigna Corporation's life insurance business to global giant Chubb should not make much difference to its New Zealand operation say those in the industry.
Full licencing - what does it look like?
21 September 2021 - Now the dust from March is settling and advisers have got their heads around most of what is required, it's time to start pushing forward with getting full licensing done.
Death by 10,000 paper cuts
7 September 2021 - The advice industry is undergoing much change, and you could be forgiven if you hadn't noticed what's happening to our brethren - mortgage advisers.
Policy Servicing: What to do now and how is Covid changing things
24 August 2021 - We well know that calling the provider, it doesn't matter who or what discipline, the chance of getting a 100% accurate answer is unlikely.
Income protection: Why taxable losses are not the right advice
3 August 2021 - Frankly, there are only two reasons loss of earnings, agreed or indemnity, is sold over agreed value - the commission is more, and the work required is less than doing non-taxable agreed.
The FSPR is moving in directions we haven’t discussed
20 July 2021 - The industry has been watching the ups and downs of the Financial Service Providers Register (FSPR) like a hawk, and it seems we are finding the data somewhat less helpful than we anticipated.
Complaints and the problem with professional indemnity insurance
22 June 2021 - We've all seen the renewals for various PI schemes starting to be published and it would be fair to say people are experiencing a bit of shock.
Educating the educated - Code Standards 6, 7, 8 and 9
8 June 2021 - Yes, it is somewhat of a minefield and the further down the rabbit hole you go the less sense it makes.
Keeping up - but not with the Kardashians
27 May 2021 - Education is one area we need to spend more time on than we have previously budgeted and considered, although we all knew it was coming.
Slow to adapt and fixed in our ways - the problems with life cover
17 May 2021 - I think there's an awful lot of "we do it this way because we have always done it this way" going on in the life insurance industry right now.
It's time to get serious about advice
4 May 2021 - I was challenged the other day when I was told, "you have to stop thinking about financial planning as being something unrelated to life insurance advice".
If in doubt - disclose
19 April 2021 - How's that strange new world looking, different or much the same?
Have you been thinking enough about qualifications?
6 April 2021 - Welcome to the New World, the most significant piece of financial legislation enacted in New Zealand, and it's an amendment Act.
Client servicing is a big issue under the new rules
22 March 2021 - Jon-Paul Hale reckons the way advisers "service" clients under the obligations of the new financial advice regime is going to be challenging.
Getting cross over Cancer cover
22 March 2021 - Jon-Paul Hale's recent column on Southern Cross Cancer Cover Plus got the company, well, cross. Here's the latest.
Guaranteed medical cover policy wordings
23 February 2021 - Jon-Paul Hale on the future security of insurance cover, unacceptable levels of risk for clients and sneaky exclusions to be wary of.
Pros and cons with life policy structures
2 January 2021 - In a continuation from his earlier article Jon-Paul Hale discusses the different policy structures and where the fishhooks lie.
'Bullying' banking conduct
4 December 2020 - Advocating for your client is a fundamental aspect of being an adviser – even if that means making yourself "a pain in the arse", writes Jon-Paul Hale.
Does liability for advice stop when clients are sold?
13 November 2020 - Jon-Paul Hale questions whether an adviser, under the new regime, will still be responsible for the advice given after selling a book of clients to another adviser/FAP.
Should you stay, or should you go?
8 September 2020 - There still seems to be a delay in some advisers getting their transitional licence – insurance adviser Jon-Paul Hale with a follow-up to his article Tied Agency 2.0.
Level five isn't the big issue for advisers; It's something else
2 September 2020 - Insurance adviser Jon-Paul Hale says advisers are getting hung up on level five qualifications, when the real issues they should be focusing on are much bigger.
Tied Agency 2.0 – spelt out
5 August 2020 - Jon-Paul Hale on why you need to get your transitional licence sorted asap.
Some sense with regulation
27 July 2020 - Recent discussion papers show "sense is prevailing" says Jon-Paul Hale.
Partners Life market changes
16 July 2020 - Jon-Paul Hale with his critique of the Partners Life commentary and what to watch when considering replacement business.
To FAP or not to FAP, the update
30 June 2020 - Jon-Paul Hale on licensing, commission structure changes and the benefits of dealer groups.
The Covid edition
29 May 2020 - The future is bright for those focused on the right outcomes for clients says Jon-Paul Hale.
Putting the case for income protection
25 February 2020 - The concluding part of Jon-Paul Hale's IP series; reducing cover levels will increase pressure on the already strained public health system.
Good customer outcomes, where did this term come from?
18 February 2020 - Sorry team, I think I introduced it. Driving good customer outcomes has been a piece of language I have been using for a good 3-4 years when no one else was.
Health system not helping income protection claims
12 February 2020 - Jon-Paul Hale's third of four articles on income protection; recent critique of the length and motivation for IP claims and how public health and IP don't collide well.
Immigrants have differing view of income protection
3 February 2020 - In the second part of his series on income protection sustainability, Jon-Paul Hale says there is a cultural side to claims which is overlooked in research.
Income protection sustainable or just more noise?
22 January 2020 - The future of income protection insurance is likely to come under more scrutiny this year. In the first of a four-part series Jon-Paul Hale takes aim at some claims made by Partners Life.
My wildly unhelpful prediction …
12 December 2019 - I said to a colleague about two months ago that based on the 2010 change, 90% of advisers will miss the June 2020 deadline. They disagreed – they may well be right – I hope they are.
Policy ownership, a simple concept?
7 November 2019 - It seems it's not. And given the time and dialogue, I need to name names on this issue.
As confusion reigns and opinions are strong, is it all a bit much?
31 October 2019 - 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.
What is the advice risk?
21 October 2019 - You could be forgiven for keeping your head down, servicing clients and paying the bills. And frankly, we all need to be doing that.
To FAP or not to FAP, that is the question
3 October 2019 - There is plenty of ongoing discussion in the market around this question but should we also be asking – who owns the clients?
Finally, a breath that suggests it's not all about the advisers and their advice
1 October 2019 - 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.
The willful ignorance of a miopic point of view
10 September 2019 - 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 work needs to be done on policy ownership
30 August 2019 - Getting the ownership of life insurance policies right is critical; but one bank has no idea, Jon-Paul Hale says.
Partners: Nominated beneficiaries too much of a grey area
28 August 2019 - Partners Life’s confirmation that it will not accept nominated beneficiary requests is about ensuring advisers don't put themselves in a position where their guidance could prove incorrect, its managing director says.
Chicken Little and the falling sky
12 August 2019 - 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.
Southern Cross – service or not?
26 July 2019 - Jon-Paul Hale gives his take on what Southern Cross's change to trail commissions means for advisers.
Advisers slam Southern Cross commission change
24 July 2019 - Advisers are unimpressed by Southern Cross’s move to limit trail commission.
Ideal client outcomes
23 July 2019 - There seems to be a renewed amount of noise on what an ideal client outcome looks like. And to be frank, I haven’t seen or heard a definition of one that is clear, concise, and simple.
Our new code
24 June 2019 - We've had plenty of commentary on the code, suffice to say the general feeling has been it is simpler more straightforward.
KiwiSaver and risk, how far out of bounds are we?
10 June 2019 - I ask the question, as I have through the consultation process, as I still don’t have clarity on the connection between the FMA guidance on general advice on KiwiSaver and the new rules that will apply to us.
Commissions - upfront and pendulum
5 June 2019 - The discussion on high trails and lower upfronts, while this is quite aspirational, frankly it is somewhat of a misnomer.
Givealittle no competition for insurance
29 May 2019 - Fundraising sites are more likely to serve as a reminder of the importance of insurance than to take its place, local industry commentators say.
Advisers put in hours of unpaid work
22 May 2019 - We've had a great couple of pages from Naomi and Partners Life on commissions, and it has been excellent to see an insurer standing up and speaking out on this issue surrounding advisers and their livelihoods. Not many are.
What is retrospective risk?
6 May 2019 - Any review work you do as an insurance adviser that does not address the suitability risk of past advice, is potentially going to bring that into focus as today's advice issue for you.
Rules set to get a lot tougher for many advisers
29 April 2019 - I finished off before Easter talking about the health and safety experience, which is something we have been watching and involved with at some level.
Part 2: FSLAB & FADC and what it means for us RFAs
23 April 2019 - In the second part of his commentary on the recent FADC case, adviser Jon-Paul Hale says the requirements expected of advisers is likely to cause havoc.
FADC case shows RFAs face big challenges under new laws
11 April 2019 - While it has been no surprise with the passing of FSLAB, we now have confirmation that the light at the end of the tunnel is, in fact, the oncoming train.
Churn keeps coming up in discussions, everywhere. In the insurers, with advisers, and with regulators.
25 March 2019 - Churn: The movement of cover form one provider to another for the sole benefit of the adviser and what they earn
Conduct and culture, the bits we should be talking about
11 March 2019 - From the comments around the industry in the last couple of weeks, the commission thing has been and has always been a red herring.
Chatter about churn and commission
4 March 2019 - Given the latest chatter about commission, I thought dusting this off was appropriate now.
Commission: The gun that needs to be in the right hands
25 February 2019 - Commission, it's like a gun, it's neither good nor evil until it is put in the hands of a human.
Rough start to the year
18 February 2019 - We've had a reasonably rough start to the year with reporting and political tub-thumping. Between the Reserve Bank report, the Australian Royal Commission report, and the governments on both side of the Tasman, it's fair to say Financial Services has had a rough time.
Insurance conduct report shows lack of understanding: Adviser
4 February 2019 - We have a report from the Reserve Bank about the insurance industry, and it's pretty rough, but it's misguided. Adviser Jon-Paul Hale explains why.
Pipeline of new advisers could be stopped
1 February 2019 - A crackdown on high upfront insurance commissions could cut off the number of new advisers coming into financial services, it has been warned.
How organised are you?
21 January 2019 - After a nice summer break, it's time to start thinking about dusting the pen off for the new year.
2018, more time will tell
1 January 2019 - It’s been an interesting year and one that suggests there has been a level of change we’ve not seen in our industry for some time.
So what are you going to do differently?
3 December 2018 - So here we are, the countdown to Christmas is upon us and the year in the rear view is almost complete.
Servicing, company agencies and the legislation
19 November 2018 - Geoff Annuls weighed into the servicing debate a couple of days ago, and while a reasonable article, failed to cover a few pertinent points.
Tackling a biggie…
5 November 2018 - Adviser Churn, is it churn, beneficial rearrangement or just plain old advice?
Code of Conduct and CWG submissions
26 October 2018 - We now have The Code of conduct for us released for feedback, and feedback you need to provide. Take the time and respond.
How do you get started with moving forward
22 October 2018 - Ok, so if you have been following we’ve talked independence, industry and dealer groups.
The Dealer Group
8 October 2018 - Picking up from my previous article where we need to look to set the bar somewhere around where an AFA is practising, so how do you do this and run a business?
The week that was
1 October 2018 - It was an interesting last week in the news, and there are few things that touch on what we do as insurance advisors.
Are you getting the support you need?
25 September 2018 - I ask this question as there is a pertinent perspective from this with what we will need to be dealing with in the next couple of years. Unless you have been living under a rock, you’ll know regulation changes are coming; this isn’t about what that’s about.
The lost advisers
10 September 2018 - No, they're not hiding, but they have been left out of much of the general discussion on the regulation changes coming.
Insurance conduct regulation's missing piece
29 August 2018 - More oversight is needed of insurance companies’ conduct, to fill a gap in regulation of the New Zealand market, one commentator says.
Who is being served?
27 August 2018 - No, not are you being served, who is being served?
Six-step process
30 July 2018 - Now that you've seen a bit of what I'm thinking, you're getting the idea I'm looking to challenge the status quo somewhat.
