Choice and access to life insurance

The Choice and Access to Life Insurance (CALI) campaign successfully convinced the Federal Government to include in the wide-ranging Treasury review of financial sector advice, access to advice on life insurance.

Australian Life Insurance providers were united in their concern that a Hayne Royal Commission recommendation could put life insurance out of reach for ordinary Australians.  The Royal Commission recommended that the Government commission ASIC to review the LIF reforms to ongoing payment of graduated commissions in 2021-implying that policy holders should pay up front fees.

H/Advisors APA recommended and implemented a sector-wide approach with an integrated government relations/public relations campaign – the Choice and Access to Life Insurance (CALI) campaign.

On April 21, 2021 Minister Hume announced that the ASIC Review would not proceed and instead Treasury in 2022 would review quality of advice, under insurance and maintaining access to affordable and quality advice.

The CALI campaign was backed by Zurich, TAL, AIA Australia and MLC Life Insurance, as well as peak bodies the Financial Services Council (FSC), Financial Planning Association of Australia (FPA), and Association of Financial Advisers (AFA).

The campaign commissioned research including a report from NMG and undertook engagement with regulators, consumers, and other stakeholders.