A Technical Framework for the Replacement of Life Insurance Policies

This course delves into a comparative analysis of the advantages and drawbacks of contemporary retail insurance products against discontinued ones, referred to as legacy products. It explores distinctive benefits and features exclusive to certain legacy insurance products alongside their advantages and disadvantages.

When assessing the replacement of a client’s existing life insurance policies, ASIC applies a key test: would a prudent adviser reasonably expect the client to be in a better position by following the advice?

In this two-part series, respected industry expert David Spiteri examines the comparative strengths and limitations of modern retail insurance products versus discontinued legacy products.

Through practical insights and real-world analysis, the series explores unique features and benefits still found in certain legacy policies, alongside where these products may offer advantages and where modern solutions may be better suited. This program supports advisers in making well-informed, client-focused recommendations aligned with regulatory expectations.

Total 1.25 CPD Hours

David Spiteri

Founder, Life Tech Assist

David Spiteri, has an extensive background in the life insurance industry, with over 35 years of experience. 

He has held national roles in major licensees and worked as an insurance adviser for more than a decade. Life Tech Assist is committed to ensuring that everyday Australians receive sufficient life insurance coverage and the right advice from their financial planners.

Life Tech Assist and Knowledge Shop have come together to help members with specialist insurance advice and assistance.