Specialist issuer, Austock Life, with an insurance bond book of $600 million says that the re-emerging insurance bond market is set for a further growth spurt due to the introduction of lifetime caps for non-concessional contributions no matter who wins the election.
Largest BDM team for one product: insurance bonds
As the leading player in the insurance bond market, Austock Life has built the biggest sole focus BDM force in Australia covering just insurance bonds and their strategy-based financial planning applications.
“We have eight BDMs on the road covering all states and a strong back office to assist them and over 150 dealer groups that we currently work with. Austock Life has has seen a 20% increase in Financial Planners dealing with us over the last year.
“The big support team is necessary when considered in light of us consistently adding over 20 new advisers for the first time each month. New advisers, typically start with our ChildBuilder Bonds, then move to writing our main Imputation Bond platform as they capitalise on the opportunities across their client base.
“I think that our strategy-based applications for Bonds will be at the forefront of The Big Superannuation Re-think,” said Tony Gobbo, National Sales Manager, Austock Life.
Upgraded adviser portal in place to support advisers
The portal for advisers to view client information on insurance bonds to manage clients’ insurance bond portfolios has been upgraded.
- Live data feed for day-to-day transactions on all client portfolios
- Performance Analytics
- Simplified calculators, case studies + other adviser support tools
What are insurance bonds being used for?
Austock Life is constantly researching and evaluating options for advisers with specific client needs and this is leading to a broader usage of bonds beyond their traditional savings and tax arbitrage roles.
“Funding a future event (wedding, home deposit, trip) and using insurance bonds to solve issues in Estate Planning is growing in popularity. Wherever you need to quarantine income from an individual, insurance bonds are an ideal vehicle for advisers. The issues around creating certainty in Estate Planning and executing inter-generational transfers of wealth are further opportunities for our bond.
“We see a growing need for providing support to advisers who are either evaluating insurance bonds for the first time in client financial plans or are returning to an old favourite education funding/estate planning tool to assist clients,” said Mr Gobbo.
Media enquiries:
Tony Gobbo
National Sales Manager
Austock Life
t: (03) 8601-2080
m: 0419 746 595
tony.gobbo@austock.com
www.austocklife.com