While it may surprise some to know that the original concept of life insurance can be traced back millennia to ancient times, there is no doubt the life insurance industry plays a vital role by providing financial protection when people need it most.

Recently, your FSC team intently watched the Senate live stream as divisions were called for a critical piece of reform to superannuation – Minister Jane Hume’s 'Your Super, Your Choice' bill enabling every Australian to choose a superannuation fund. 

Advocacy by the FSC, along with the Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) – to ASIC and the Federal Government has secured valuable clarity on the parameters for electronic renewals of Ongoing Fee Arrangements (OFAs).

Now that the hurly-burly’s done and the battle is lost and won, what is the outcome for fees and costs disclosure?

The FSC recently announced that the Investment Board Committee had been reconstituted into the Fund Management Board Committee (FMBC), which is supported by the Investment Expert Group (IEG).

Online attendees at this week’s FSC Life Insurance Summit heard numerous industry leaders discuss the substantial challenges facing the life insurance sector.

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