AFS Licensing & FSR

AFS Licensing & FSR

Life Insurance Advice

This workshop, conducted by the independent experts appointed by ASIC in relation to Report 413, outlines the essentials of financial product advice and specifically in relation to life insurance advice.  The workshop has been structured to directly address the concerns expressed in ASIC Report 413: Review of retail life insurance advice.  

Benefits of the course

  • learn to provide advice that avoids the pitfalls we’ve seen first-hand as lawyers, acting for AFS licensees, involved in enforceable undertakings, conducting licensee reviews and reading thousands of SOAs!
  • training is conducted by legal practitioners who provide legal and compliance services to a wide range of AFS licence holders and who have had extensive experience in life insurance litigation and FOS disputes, and are also experienced trainers;
  • consideration of the impact of ASIC’s Retail Life Insurance Advice Report on advisory businesses;
  • strategies for providing better advice to clients, compliant licensees and advisers, reducing the risk of complaints, litigation or regulatory action;
  • participants will receive a detailed manual with a range of activities to illustrate concepts and issues (this workshop is highly interactive where ‘death by PowerPoint” will not occur!);
  • share your experiences and challenges with other industry participants; and
  • suggested CPD allocation – 7 points.

Who should do this course?

  • life insurance advisers
  • financial advisers
  • compliance staff
  • advice analysts
  • AFSL Responsible Managers
  • para-planners

Course content

  • particular characteristics of life insurance law and contracts
  • ASIC Report 413: Review of retail life insurance advice
  • scoping of life insurance advice
  • providing strategic life insurance advice
  • SOA content requirements
  • replacement product advice
  • review of key life insurance cases
  • life insurance inside/outside superannuation

Course activities

  • workshops
  • simulated adviser-client interviews
  • life insurance file audit
  • needs analysis

What have people said about our Life Insurance Advice course?

  • "What I particularly liked about the programme was the relevance to my role and how it will assist me in my work." Shelley Hurley (Australian  Unity)
  • "There was plenty of interaction with relevant industry examples." Nguyet McFedtridge (Doquile Perrett Meade Financial Services)
  • "The training was relevant to my role and the programme will assist me to update SOA templates.  Tim, Grant and Katherine were very personable.  I would like to send more staff to this course." Verina Faraday (Doquile Perrett Meade Financial Services)