Beware poor risk insurance advice

SMSF technical expert and columnist for The Australian newspaper
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ASIC has said that risk insurance and poor advice seem to go hand-in-hand.

Peter Kell, one of ASIC’s Assistant Commissioners, recently said that many of the cases of poor or defective advice that ASIC reviews involve risk insurance products, such as death, permanent or temporary disability and trauma insurances.

This represents a good wake-up call for SMSF trustees.

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