And I should have taken you to the dot point above that which was that they had told Ms Coleman that they wanted to make sure their family was secure: anything unplanned happen to either of us. …should ?Yes. And the outcome of the discussions is summarised by Ms Coleman as follows: You make sure you have adequate levels of insurance cover now you have a new daughter as you want to ensure your family is supported financially if either of you were to suffer an unfortunate event. As a result, we will review your current insurance needs and ensure you have appropriate levels of cover through a competitive insurance provider. ?Yes. And then at 0121, the page I took you to earlier with the date of birth of the child, there’s some information about the two clients there which was redacted out of the personal details box but you have that information in front of you?Yes. And we can see that the clients were a young couple. The male was a tradesperson?Yes. And the female had listed her occupation as home duties?Yes. And you can see that the combined net income of the couple I see that has not been – redacted out is $73,000 towards the bottom of the page?Yes, I can see that. – And at 0133, we come to the Recommendations, and there is a recommendation next to Super Ownership on the left-hand side? Do you see that?Yes, I can see that. Continuing: We recommend your life, TPD and income protection insurance be owned by the trustee of the AIA Master Trust and paid for with annual rollovers. ?Yes. And at the table at the foot of the page we can see Ms Coleman’s advice in respect of the male client?Yes. We will just wait for that table to come up onto the screen. Ms Coleman recommended that the male client replace each of his existing insurances but with policies with the same level of cover?Well, it’s actually this table is can be – – somewhat confusing. What has actually happened is earlier in the document the adviser has set out current level of cover
And I should have taken you to the dot point above that which was that they had told Ms Coleman that they wanted to make sure their family was secure: …should anything unplanned happen to either of us. ?Yes. And the outcome of the discussions is summarised by Ms Coleman as follows: You make sure you have adequate levels of insurance cover now you have a new daughter as you want to ensure your family is supported financially if either of you were to suffer an unfortunate event. As a result, we will review your current insurance needs and ensure you have appropriate levels of cover through a competitive insurance provider. ?Yes. And then at 0121, the page I took you to earlier with the date of birth of the child, there’s some information about the two clients there which was redacted out of the personal details box but you have that information in front of you?Yes. And we can see that the clients were a young couple. The male was a tradesperson?Yes. And the female had listed her occupation as home duties?Yes. And you can see that the combined net income of the couple – I see that has not been redacted out – is $73,000 towards the bottom of the page?Yes, I can see that. And at 0133, we come to the Recommendations, and there is a recommendation next to Super Ownership on the left-hand side? Do you see that?Yes, I can see that. Continuing: We recommend your life, TPD and income protection insurance be owned by the trustee of the AIA Master Trust and paid for with annual rollovers. ?Yes. And at the table at the foot of the page we can see Ms Coleman’s advice in respect of the male client?Yes. We will just wait for that table to come up onto the screen. Ms Coleman recommended that the male client replace each of his existing insurances but with policies with the same level of cover?Well, it’s actually – this table is – can be somewhat confusing. What has actually happened is earlier in the document the adviser has set out current level of cover
transcript-23-april-2018.docx