JetSki Insurance Online :: News
SHARE

Share this news item!

CALI Advocates for Reforms to Bridge Financial Advice Gap for Young Australians

CALI Advocates for Reforms to Bridge Financial Advice Gap for Young Australians

CALI Advocates for Reforms to Bridge Financial Advice Gap for Young Australians?w=400
The Council of Australian Life Insurers (CALI) has highlighted a significant gap in access to affordable, professional life insurance advice among young Australians.
A recent study conducted by CALI reveals that only 11% of 18-to-34-year-olds obtain formal financial guidance, with the majority relying instead on advice from informal and often inaccurate sources such as friends, family, social media, and online forums.

Despite nearly half of the respondents expressing a desire for professional advice, especially personalised guidance tailored to their individual financial needs and circumstances, a significant portion turn to unverified channels. This trend underscores the importance of offering accessible, targeted advice for Australians at various life stages. According to CALI's CEO Christine Cupitt, the necessity of affordable, specialised support is vital for the younger generation, who are eager to make informed financial decisions but find professional services beyond reach.

Three primary life events prompt the youth to consider life insurance: changes in financial circumstances, witnessing a family member's health issues, or experiencing personal health challenges. Christine Cupitt noted that these pivotal moments drive individuals to reevaluate their financial safety net. However, lacking access to qualified advisers, young Australians often resort to assembling their financial strategies through informal sources, potentially jeopardising their financial stability.

CALI's findings from 2024 further suggest that young Australians stand to significantly influence the growth of life insurance in the financial advice sector in the coming years. This is propelled by factors such as the intergenerational transfer of wealth, larger mortgage commitments, a dwindling adviser workforce, and increasing dependency on referral networks.

The introduction of a new adviser class by the Federal Government could potentially widen access to professional advice and clear the path for individuals aspiring to join the advice industry. Christine Cupitt agrees, saying, "Younger Australians deserve the support that aligns with their financial ambitions and the peace of mind for their future. Although we appreciate the Government's dedication to reform, immediate action is crucial to bridging the current gap between the demand and supply of financial advice." Ensuring broader access to professional advice is critical as the industry adapts to evolving financial landscapes and demographic needs.

Published:Monday, 4th Aug 2025
Source: Paige Estritori

Share this news item:

Insurance News

Broker Ordered to Compensate Client for Uninsured Fire Losses Broker Ordered to Compensate Client for Uninsured Fire Losses
15 Aug 2025: Paige Estritori

A recent ruling mandates an insurance broker to pay nearly $300,000 in compensation to a client after an insurer, QBE, declined a fire claim and cancelled the policy due to nondisclosures. The fire, which occurred in October 2022, severely damaged the commercial premises. QBE asserted that they would have denied coverage had they known about asbestos on the property, among other unreported issues. - read more
Insurance Claim Denied Due to Evidence of Multiple Collisions Insurance Claim Denied Due to Evidence of Multiple Collisions
14 Aug 2025: Paige Estritori

An insurance dispute arose when a driver was refused coverage for car damage after evidence showed involvement in multiple collisions, contrary to her claim. Initially, the woman filed a claim with Hollard Insurance, stating her car had collided once with another vehicle. However, the situation took a turn when forensic data from in-car technology revealed two separate impacts occurring 11 minutes apart. - read more
ASIC Considers Action as Professional Indemnity Insurance Transparency Falls Short ASIC Considers Action as Professional Indemnity Insurance Transparency Falls Short
12 Aug 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has voiced apprehension about the transparency of professional indemnity (PI) insurance amongst holders of the Australian Financial Services Licence (AFSLs). This concern arises from a recent market overview conducted to analyze PI insurance for AFSLs offering personal advice to retail clients. - read more
Traveller Triumphs in Insurance Dispute Over Unexpected Medical Detour Traveller Triumphs in Insurance Dispute Over Unexpected Medical Detour
11 Aug 2025: Paige Estritori

A savvy traveller has successfully challenged an insurance decision after having to make an impromptu stay in London due to a medical emergency. This came after the man needed urgent medical attention following a cat bite he sustained in Albania, which sent him to the UK capital for essential treatment. - read more
Revolutionising Life Insurance: Digital PMARs and Next-Gen Underwriting Revolutionising Life Insurance: Digital PMARs and Next-Gen Underwriting
11 Aug 2025: Paige Estritori

In the age of instant digital services, where everything from basic necessities to luxury items can be delivered in a blink, the life insurance sector in Australia is poised for a transformative change. Historically plagued by lengthy processing times, the sector faces a persistent underinsurance gap, with over a million Australians lacking adequate life protection. The introduction of a digital Personal Medical Attendant Report (PMAR) by Acenda, formerly MLC Life, marks a significant stride towards addressing this challenge. - read more


Jetski Insurance Articles

Jet Ski Insurance: The Pros and Cons of Using a Specialist Broker Jet Ski Insurance: The Pros and Cons of Using a Specialist Broker
A specialist jet ski insurance broker is a professional who specializes in providing insurance coverage for individuals who own jet skis. These brokers have extensive knowledge of the insurance needs of jet ski owners and can help you find the ideal policy that meets your unique requirements. - read more
Essential Tips for Choosing the Right Jet Ski Insurance Plan in Australia Essential Tips for Choosing the Right Jet Ski Insurance Plan in Australia
For many Australians, a jet ski is a source of exhilarating aquatic adventures and cherished memories with family and friends. As much as jet ski ownership brings joy and excitement, it carries inherent risks and responsibilities. One crucial aspect of responsible ownership is ensuring that you are adequately protected with the right jet ski insurance coverage. - read more
DIY Jet Ski Maintenance: Simple Steps to Keep Your Watercraft in Top Shape DIY Jet Ski Maintenance: Simple Steps to Keep Your Watercraft in Top Shape
The thrill of slicing through the waves on a Jet Ski holds a special allure for many Aussies. But as any seasoned rider will tell you, the key to uninterrupted fun on the water lies in consistent maintenance. Not only does this ensure your Jet Ski remains in peak condition, but it also extends its life, enhances safety, and can save you a bundle on potential repairs. - read more
Top Mistakes to Avoid When Comparing Jet Ski Insurance in Australia Top Mistakes to Avoid When Comparing Jet Ski Insurance in Australia
Embracing the Australian lifestyle often involves making the most of the surrounding waters, and there's hardly a more exhilarating way to do so than aboard a jet ski. Owning one offers a unique blend of adventure and excitement as you skip over the waves at thrilling speeds. The sense of freedom that comes with piloting your own jet ski is unmatched, making it a favored weekend activity for thrill-seekers and water sports enthusiasts alike. - read more
Protecting Your Jetski Against Theft: Tips and Tricks Protecting Your Jetski Against Theft: Tips and Tricks
Owning a jet ski provides endless hours of fun and excitement, but it’s important to note that these thrill-seeking vessels are a prime target for thieves. According to statistics, jet ski theft in Australia has been on the rise in recent years, with many people falling victim to these crimes. Unfortunately, theft of your beloved watercraft could happen any time, but there are measures you can take to safeguard your asset. - read more


Your free JetSki insurance quote comparison starts here!
First Name:
Postcode:

All quotes are provided free (via our secure server) and without obligation. We respect your privacy.

Knowledgebase
Insurance Deductible:
That part of an insurance claim that must be paid by an insured person before the the balance is paid by the insurer.

Quick Links: | Jet Ski Insurance | Jet Ski Insurance Quotes | Personal Watercraft Insurance | PWC Insurance Australia | Cheap Jet Ski Insurance | Comprehensive Jet Ski Insurance | Jet Ski Liability Insurance | Third Party Jet Ski Insurance | Insurance For Seadoo | Insurance For Yamaha Jet Ski | Best Jet Ski Insurance Australia
This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.
IMPORTANT: We are neither authorised nor licensed to provide finance or finance products. We do not recommend any specific financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party, qualified intermediaries with whom you can deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third part to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs.