8 July 2021 - Outcome of consultation on deferred sales model for add on insurance products

Consistent with recommendation 4.3 of the Financial Services Royal Commission, on 10 December 2020 the Government passed laws that introduced a deferred sales model for add on insurance. The legislation provided for regulations to exempt a class of add-on insurance products where it would not be appropriate that they be captured by the deferred sales model.

Consultation has now concluded on the need for any limited class exemptions to be provided.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.