Webinar Replay - Proposed APRA changes to Retail Income Protection (Metlife)
- it's still IP, just not as you know it...
This is a recording of the Webinar that Jeff Scott from Metlife delivered on behalf of The Advice Movement on the 4th of June, 2020. Below is just some of what we covered in the Webinar:
With a global pandemic taking centre stage in the virtual offices of Financial Advisers around Australia, it is easy to understand how issues impacting the industry could pass by without much focus or attention. Whilst some of those issues were discussed around the board tables and Zoom rooms of product providers and dealt with in uniform fashion (see grandfathered remuneration), one issue in particular had the potential to cause long term ramifications not only to the way products are designed - but potentially to the way Insurance advice is provided forever more.
In this power packed session - brought to you by Metlife and delivered by the man with more letters after his name, than actual letters in the alphabet - Dr Jeffrey Scott (PhD CFP, SSA, FTI and many more) - we will explore the proposed APRA measures for Retail Income Protection policies (Individual Disability Income Insurance – IDII) and what their purpose is.
Delivered in smooth Canadian tones, Dr Jeff will enlighten us all about the 10 proposals provided by APRA together with the rationale behind their recommendations, and the possible consequences to both existing and new retail income protection clients.
"Just Jeff" - as he likes to be known when he is officiating international Ice Hockey games - has instructed me that this session MUST set a record for Q&A amongst our AM Family, because YOU are the most future focused adviser community in Australia... and with that comes the responsibility of exploring the long term impacts of these proposed changes to your clients and your business.
Dr Jeff needs our help to come up with solutions that give hope there will still be an Income Protection market within our industry for you to provide advice to, for our clients of today and tomorrow.
Jeff has worked for over 25 years in the insurance industry. He's a regular media commentator on the topics of insurance, superannuation, pensions and finance. He has conducted over 1,000 presentations in 13 countries including the 2017 and 2010 MDRT. Jeffrey has lectured at the UTS (Investment and Financial Planning) and UNSW (Taxation, Superannuation and Insurance). He created the first terminal illness benefit for life insurance products in Australia, helped develop lump sum income protection benefits, and introduced full income replacement coverage.
Jeff is a CFP (FPA), SMSF Specialist Adviser (SMSF Association), Fellow of the Taxation Institute of Australia, Bachelor of Mathematics (U of Waterloo), DipFP (FPA/Deakin), Master of Arts (UTS), Master of Education (UTS), Grad Dip of Advanced Taxation (UNSW), Master of Taxation Law (UTS), and Doctor of Philosophy in Taxation (UNSW) In his spare time, Jeff's officiated 134 test matches for the International Ice Hockey Federation (IIHF).
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