FMA puts advisers on notice over replacement life insurance sales

Tue, 28 Jun 2016

By Paul McBeth June 29 (BusinessDesk) - The Financial Markets Authority is keeping a close watch on the small group of financial advisers selling large volumes of replacement life insurance, which could be driving up the cost for consumers. The market watchdog found 1,100 'high volume' advisers with more than 100 active life insurance policies on their books, and of those, 200 advisers were deemed to have a high level of replacement life insurance business - when an existing policy is switched for another. That subset earned almost 50 pe...

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