General Advice is becoming a more prominent part of the life insurance landscape, with advisers and licensees increasingly using the model to engage consumers who may not access — or be able to access — Personal Advice.

The General Advice framework provides a structured, compliant way to educate clients about life insurance without stepping into personalised recommendations.

At Consilium Advice Australia, we support advisers who want to operate within this framework, ensuring every interaction is professional, compliant and client‑focused.

How General Advice Works

Under the Corporations Act, General Advice is financial product advice that does not take into account a client’s objectives, financial situation or needs. Instead, advisers focus on helping clients understand:

• What life insurance is
• The types of cover available
• How each type works
• Common considerations when thinking about cover levels
• Differences between insurers and product structures

In order for clients to make informed decisions on their insurance needs.

Why General Advice Matters

General Advice plays a critical role in improving access to life insurance by:

• Providing clear, factual education to clients on life insurance products
• Supporting clients who may not need or be able to access Personal Advice
• Reducing complexity and barriers to engagement
• Helping Australians make informed decisions
• Addressing the national underinsurance challenge

General Advice shifts the adviser’s focus from documentation and research for product recommendations to direct client engagement — explaining concepts, answering questions and improving understanding.

General Advice vs Personal Advice

Two models. Two purposes. One shared goal: better consumer outcomes and more insured Australians.

General Advice does not trigger Personal Advice obligations such as best interests duty or Statements of Advice, but it remains subject to strict conduct, disclosure and supervision requirements. The emphasis is on clarity, accuracy and consumer understanding within a well‑governed framework.

General Advice and Personal Advice serve different purposes but work best together. General Advice raises awareness and supports simpler needs, while Personal Advice remains essential for clients requiring tailored recommendations and ongoing review.

As the industry continues to address underinsurance and accessibility challenges, General Advice is expected to play an increasingly important role in helping Australians understand their options and take meaningful steps to protect themselves and their families.

Ready to learn more about the General Advice model? Contact us