Life Insurers Aim for Harmony with Financial Advisers

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Council of Australian Life Insurers (CALI) has reaffirmed that their primary focus is not to compete with financial advisers but to enhance the existing services in the life insurance sector.

Christine Cupitt, the Chief Executive of CALI, asserted during a Senate Economics Legislation Committee hearing that the distinction between life insurers' advice and financial advisers’ roles will be maintained and clarified.

"Our goal is to supplement the crucial and invaluable work done by financial advisers rather than obstruct it," Cupitt shared with the committee.

She elaborated on CALI's collaboration with the Federal Government, emphasizing the need for legislative frameworks that would permit life insurers to dispense straightforward product-specific advice to customers upon request.

"Naturally, this should be governed by stringent constraints and robust consumer protections," Cupitt added.

Cupitt stressed the importance of not diverting potential customers who call their service centers with basic questions, pointing out that delivering simple and direct answers is an essential element of customer service.

"For clients presenting more complex needs, life insurers will continue to refer them to financial planners capable of offering comprehensive advice, including product comparisons across the market," Cupitt said.

Christine Cupitt’s statements, as reported by Financial Standard, clarify that while the CALI seeks to provide fundamental, product-specific guidance to customers, they have no intentions of encroaching on the advisory space traditionally held by financial advisers.

Published:Saturday, 15th Jun 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Nutrien Ag Solutions Tops Roy Morgan's Trusted Agribusiness Survey

27 Nov 2025: Paige Estritori

In a significant development within the Australian agricultural sector, Nutrien Ag Solutions has been recognised as the nation's most trusted agribusiness, according to the latest Roy Morgan survey. This marks the first time Nutrien has achieved this distinction, overtaking Elders, a longstanding leader in the industry. - read more

Australian Sheep Industry's $139.8 Million Transition Plan in Full Swing

27 Nov 2025: Paige Estritori

The Australian sheep industry is making significant strides in its $139.8 million transition plan, aimed at modernising and strengthening the sector. Recent weeks have seen the release of several grant programs under the Sheep Industry Transition Assistance Package (SITAP), providing much-needed support to farmers and associated businesses. - read more

PGA of Western Australia Back on Track After Financial Turmoil

27 Nov 2025: Paige Estritori

The Pastoralists and Graziers Association of Western Australia (PGA) has successfully navigated a period of financial uncertainty, emerging stronger after addressing internal financial irregularities. The organisation's commitment to transparency and effective management has been pivotal in restoring confidence among its members and the broader agricultural community. - read more

Rising Insurance Premiums Pose Financial Challenges for Australian Farmers

27 Nov 2025: Paige Estritori

Australian farmers are currently facing significant financial challenges due to a sharp increase in insurance premiums. Reports indicate that some farmers have experienced a 20% rise in premiums over the past year, a trend largely attributed to the escalating risks associated with climate change. This surge in costs is prompting a concerning number of farmers to reconsider their insurance coverage, with some opting to forgo it entirely, thereby exposing themselves to substantial financial risk. - read more

Click for more Insurance News

Business Insurance Articles

The Essential Guide to Liability Insurance for Freelancers

Liability insurance is a type of coverage designed to protect you from claims arising out of injuries or damages to other people or property. For freelancers, who often juggle multiple projects and clients, liability insurance can offer a safety net that reduces financial risk and instability. - read more

How to Assess Your Risk Exposure and Select the Right Indemnity Coverage

Professional indemnity insurance stands as a pivotal safeguard for Australian professionals navigating the intricacies of liability in their work life. This form of insurance is designed to protect professionals against legal costs and claims for damages arising from acts, omissions, or breaches of professional duty in the course of their practice. Whether it's due to an honest mistake or an unforeseen error, the ramifications of such professional oversights can be financially crippling. - read more

How to Choose the Right Public Liability Insurance for Your Business

Public liability insurance is a key consideration for business owners in Australia. This type of insurance helps protect businesses against claims made by third parties for injuries or property damage. But what exactly does it do? In simple terms, public liability insurance covers legal costs and expenses, as well as any damages awarded, if your business is found liable for an incident. - read more

The Impact of Environmental Liability on Australian Business Operations

In today's ever-evolving business landscape, the significance of environmental sustainability and legal accountability is increasingly paramount. Australian enterprises, in particular, are encountering a growing need to understand and manage environmental liability. This reality not only influences corporate image but also carries substantial financial and legal ramifications. - read more

Start Here !

Knowledgebase

Insurance Policy Excess:
The amount you will have to contribute when you make a claim.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.