FMA life insurance report will feed into government Financial Advisers Act review.
Study of sales practices in life insurance finds clear link between customer churn and sales incentives.
The boss of Fidelity Life admits his company is taking a risk on its new commission structure but says it will be better for the company, its clients and its advisers long-term.
Fidelity Life has unveiled a new payment structure for its insurance advisers and it is designed to incentivise renewals over up-front commissions.
Chief executive Milton Jennings said the main changes to the remuneration structure were the rise in existing renewals and the spread of commission payments over six years.