413 life, TPD, trauma & income insurance (the basics, self-insuring, using an adviser or DIY + more) part 1
Dev Raga Personal Finance
Navigating the Complexities of Insurance Advisory
This chapter explores the critical role of specialized financial advisors in offering personalized insurance advice and managing policies, contrasting the risks of relying on direct insurance ads. It delves into the landscape of insurance companies in Australia, the challenges faced by advisors post-government commission rate changes, and the impact on client insurance accessibility. The discussion also highlights the compensation structure for advisors, the high rate of claims paid out in Australia, and the evolving dynamics in the insurance industry to protect super funds and ensure policy sustainability.
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