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What Has Been Added To The Store In The Last 60 Days?
Now Incorporating Top Downloaded Items In The Last 30 Days

We have made it easier than ever for you to find what has recently been added to the store. This is a moving feast as it depends on the frequency of new content added. Each item listed below will also appear in the relevant section associated with it or via search in the top right-hand corner. We've now added the top most downloaded items if this type of thing interests you.

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Lightbulb Idea IconQUICK TIP: To find content quickly, use SEARCH [above right] with quotation marks e.g. "Estate Planning"; "Trauma"; "Claims", etc.


Meeting Agenda Checklist Template NEW
Agenda template for licensee senior management or adviser meeting with representatives from life insurers This template is a good starting point for running your meeting efficiently and ensuring you are in control of the meeting. This is suitable for licensee senior management running a relationship / service delivery review meeting OR advisers hosting a BDM support meeting. As they say, time is money. We recommend you try using this agenda template as the basis for your next meeting.
A BMI Guide - Insurer BMI Loading Thresholds (updated) NEW
Which Weigh Will We Go? - An essential reference guide to keep handy. (updated V2 - 07.2020) Which Weigh Will We Go? is a tool that helps you to decide from which insurer it might be best to obtain a pre-assessment of your client’s BMI rating. It describes what medical tests each insurer requires at what BMI threshold and, further, what additional terms it might apply to an application for insurance. This tool won't be the only factor you take into account, but it is a very useful part of your strategy for the client’s protection provider selection. The most convenient way to flag if an insurer may have concerns is firstly to calculate your client’s BMI and this is the tool for this.
Life Insurance Code of Practice - Annual Ind Data & Comp Report 2018−19 NEW
The Report provides a snapshot of the life insurance industry and its compliance with the Life Insurance Code of Practice (the Code) for the year. It is based on aggregated data sourced directly from Code subscribers together with compliance data from the Committee’s compliance monitoring work.
Contributions Cap Checklist 20/21
Whether you are a life risk specialist or wholistic adviser, it is critical for you to be proactive and protect your clients using this essential fact-finding and annual review calculator (updated for F/Y 2020/21). This calculator and checklist will assist you to determine how much your client/s can contribute as salary sacrifice or as personal deductible contributions to avoid an excess concessional contribution for the 2020/21 financial year. Your client/s may be left exposed to potential ATO penalties if you do not check on their behalf. This calculator SHOULD form part of your standard advice procedures.
Managing Submission Process: eApp Completion Checklist
Either adviser or staff will be conducting the eApp with the client, so this checklist will pick up any peripheral requirements prior to submission. This template aids efficiency and avoids time delays. Use this checklist template for every new business case... and your staff can then use this form to check the application prior to submission online. A soft copy (PDF) of this form can then be filed with your copy of the application as a record of those actions. Errors result in time delays and delays have a dollar cost consequence.
FASEA Education Pathways Explained
Here is a quick-view summary of the new education requirements for all Australian financial advisers prescribed by The Financial Adviser Standards and Ethics Authority (FASEA). [Note deadline changes: extension of 12 months for the exam from 1 Jan 2021 to 1 Jan 2022, and an extension of 24 months for the education standard from 1 Jan 2024 to 1 Jan 2026.]
RR Issue 192 - A time-bomb - Are your agreed value IP clients endorsed?
The Risk Store is flagging that a critical component of the income protection [IP] application and/or review process may be being unintentionally missed by some advisers. How many of your agreed value IP clients are endorsed? Do you know? This issue may not apply or be relevant to your business right now but could be in the future. Be proactive. Not reactive. Download this Risk Read to make sure. It includes 5 proactive steps your business needs to take. The new section called Tips & Tidbits dismisses the often quoted belief clients will absolutely pay a service fee for life risk advice. They will but only if you change the language used and re-frame the discussion from offering a product solution to an outcome solution e.g. planning their estate and/or business succession. We give some insights this.
Advice Process Guide: Stage 16 - Claims Assistance Process
Claims Assistance Process: supporting the client throughout the claim. There are 4 different entry points into a claim for you as adviser. Initial procedures are listed depending on how you become involved, then standard ongoing support and assistance procedures are listed for after the initial responses. If you provide any amount of life risk advice, you and your staff need to understand the correct way to assist with a claim...consistently. This guide will help get you started or improve your existing process.
Insurance Contracts Act 1984
Updated 13 March 2019 (latest Issue) This is a compilation of the Insurance Contracts Act 1984 that shows the text of the law as amended and in force on 13 March 2019 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Life Insurance Act 1995
Updated 18 February 2020 (latest Issue) This is a compilation of the Life Insurance Act 1995 that shows the text of the law as amended and in force on 18 February 2020 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Top 10 Cancers Claims
The Financial Services Council (FSC)(Australia) in association with KPMG has released new life insurance claims data highlighting Australia’s ten most claimed cancers. Source: FSC/KPMG data for the year to 30 June 2019 – claims rate per 100,000 people insured for Retail and Group Life Insurance.
RR Issue 191 - Best Interests – Top 5 Compliance Issues
We’ve been reviewing life risk advice in client files for compliance with Safe Harbour/Best Interests, for about two years now. Our own learnings about tackling the challenges in interpreting best interests may be useful in your day-to-day, so we’ve compiled the top 5 repeat issues arising in our experience. The 'Topics & Tidbits' section titled ' Overweight & undercharged - prepare your clients' is an essential short read on the obesity epidemic.
Latest Risk Read 192 - Are your agreed value IP clients endorsed?
A potential time-bomb bomb - Are your agreed value IP clients endorsed? + Fees for 'insurance'? No way, José! The Risk Store is flagging that a critical component of the income protection [IP] application and/or review process may be being unintentionally missed by some advisers. This issue may not apply or be relevant to your business right now but could be in the future. It may be worth you reading on as well as considering forwarding on to any colleagues you feel may benefit from this information. Be proactive. Not reactive. Click to login and be taken directly to the full article (Associate, Professional & Corporate members only)
Client Endorsed Income Protection Notification Letter
This essential time-saving client-friendly email template is designed to inform your existing agreed value income protection clients their agreed value benefit amount isn’t currently endorsed or guaranteed by their insurer and you will now facilitate getting this rectified with their assistance. Includes a separate detailed explanation on why this is important for the client and the practice.
The Legal Hub - Online Estate + Succession Planning Legal Service
Looking for an estate planning legal service for your clients? The Legal Hub connects and co-ordinates professional advisers with leading law firms to deliver estate and business succession planning for their clients. This service is FREE for advisers. Your clients will benefit from timely and affordable legal advice. The Legal Hub does not provide advice rather it’s the central point of contact and co-ordination for an adviser to access our member law firms who provide their services via our secured website www.thelegalhub.com.au
CATScan - An Independent Client Survey Tool
Would you like to get up-to-date client feedback on your business service performance? If you believe your clients are your greatest asset (as well as your most important critics) why wouldn’t you want to know how satisfied they are with your service offer and where you can improve? The Risk Store recommends CATScan as an affordable independent client survey facility, conducted by Business Health on behalf of the practice. Click for more info. Please quote TRS-CATSCAN with your enquiry.
The Estate Planner - A Web-Based Diagnostic For Advisers
Is your business seeking to transition from commissions-for-product to a fees-for-advice model by incorporating estate planning into your risk advice process? Then the Risk Store recommends you check out 'The Estate Planner' by Business Health. An innovative and very affordable subscription-based web-based diagnostic designed to help your clients better understand their estate planning situation, while also providing new opportunities for you. Click for more info. Please quote TRS-ESTATEPLANNER with your enquiry.
Future Ready 8 - Insights Into The 'Health' & 'Future' Of Australian Practices
Executive Summary of Business Health's latest analysis which has been drawn from over 200 firms who undertook their HealthCheck diagnostic over the past two years – during one of the most tumultuous times for advisers, licensees and providers alike. While, for some, the findings won’t come as any major surprise, most will nevertheless find the picture painted somewhat confronting. Established and entrenched views and attitudes are being seriously challenged like never before! Login to download this summary or for the complete picture, enquire to purchase this insightful report in full from Business Health: service@businesshealth.com.au
Mortgage Broker Referral Client Introduction Letter
This client introduction letter template is ideal for advisers (wealth as well as risk specialists) who are about to embark on a referral partnership arrangement with a mortgage broker or even for those who currently have an established arrangement in place. Either way, initially it's likely you'll need to email the client referred to you by the broker (as well as probably phoning them). The need to concisely position your service/s in a way a consumer can understand is important to facilitate client engagement.
Approved Product Lies - ClearView White Paper
This ClearView Life commissioned ‘white paper’ was reported on in The Australian and various financial press at the end of October 2019. The Risk Store is making this paper available for ALL our members (free and paid) because we believe some of you may find it informative.
Child Permanent Dependency Needs - What This Looks Like Diagram
Timeline of expected needs - what does this look like financially? Advisers / Paraplanners need to take into consideration the timeline of expected needs and the financial requirements for a dependent child having to calculate parents’ death sums insured to cater for the needs of the child while facilitating the estate plan e.g. disability trust (testamentary). This diagram is useful in assisting the Adviser / Paraplanner establishing the need and being a great visual aid when discussing the potential need with your client.
Needs Analysis Ownership Guide - Income Protection
An adviser / Paraplanning needs analysis quick-reference guide presenting 4 ways of owning income protection including: > Ownership Strategy > Pros > Cons > Counter Indicators
Income Protection - Ownership Guide
An adviser / Paraplanning quick-reference guide presenting 4 ways of owning income protection including: > Ownership Strategy > Pros > Cons > Counter Indicators
The Awesome Guide to File Notes Checklist (significantly updated V3)
This is our significantly updated awesome guide to file notes - version 3. This guide has evolved over many years; some elements reflect court case outcomes and so are very relevant to 'best practice' goals. We trust these will serve the following purposes for you: 1. Give you a 'checklist' by which to assess your current methodology of file noting (Inc. AFCA’s top 10 tips) 2. Enhance your current note headings to enable / remind you to capture often-forgotten points that could be important 3. Or just get you started with a file note methodology if you have none right now 4. Add some standard record-keeping around the actions that you take post-file noting
Risk Planning For 21st Century Parents
Specifically written for the no-kids-yet adult kids and their parents type clients. This article will address the extent of life risk issues to look out for and to manage, with these two breeds of client. After reading this article you should be able to: - Explain the underwriting process in the context of guaranteed future insurability in an obesity-affected world - Develop strategic skills in the use of level premium policy structuring for younger ages of client - Conduct meaningful discussions regarding the ‘boomerang’ and 'Mum & Dad Bank' phenomena and their impact on financial security of parents - Present associated supportable ‘best interests’ strategies in an educative manner to clients. Includes case studies and tips.
Counting Child Cancer Hidden Costs News Article + Study Summary
We reproduced this news article from The Sydney Morning Herald so you can save this to show your clients when discussing child insurance (trauma) cover. It also includes an academic study summary on parental depressive symptomsand childhood cancer: the importance of financial difficulties. When Christine Urban’s son, Magnus, was diagnosed with cancer when he was 12, she said it threw the family into emotional turmoil. But it was the unexpected, hidden costs that came along with his treatment that were “absolutely horrendous”.
Helpline: Family Succession Planning
Family Succession Planning: This helpline Q&A is a family farming succession situation that is not uncommon. The adviser seeking our guidance was on the right track but perhaps overcomplicating the end solution required. We offered a more simpler, less costly (for the client) alternative. Read and learn...
2019 Claims Paid Statistics By Product Type NEW
These stats are no longer collected and published by The Risk Store. After 11 years and publishing our final stats in 2017 (for the previous 2016 calendar year), we were forced into making a commercial decision to cease work on these reports. We still have claims paid stats available from 2006 through to 2016 via our Industry Stats section on this website.


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