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TMCNet: APRA concerned about direct life sales

[November 22, 2012]

APRA concerned about direct life sales

Nov 22, 2012 (Money Management - ABIX via COMTEX) -- The Australian Prudential Regulation Authority (APRA) is worried about the growth in direct marketing of life insurance. APRA's annual report notes life insurance products are being directly promoted to consumers via TV and internet marketing, and through call centres. APRA noted that the cost of some of the products being sold in such a fashion is quite expensive, and that the growth in such products could harm the overall profitability of the life insurance sector.
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Publication Date: 22 November 2012 AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

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