NobleOak launches SMSF initiative
Specialist life insurer NobleOak has announced the launch of a new product aimed at the self-managed superannuation funds (SMSF) market.
It said the product, SMSF Direct Life, would be sold via credit unions and non-bank lenders. It is aimed at helping SMSF trustees manage the insurance requirements inherent in regulations flowing from the Government's Stronger Super legislation.
NobleOak said the product would be launched early next month and was designed to offer flexible and affordable life cover for those people managing their own superannuation funds.
The company said the product could be adapted to suit the needs of trustees and members at each stage of life to ensure they had the most effective level of cover.
NobleOak chief executive Anthony Brown said he believed SMSF Direct Life would emerge as the best life insurance product for SMSFs on the market.
"The launch of this product is a timely," he said. "The change in the legislation highlights the importance of addressing under-insurance in Australia."
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
