iExtend has appointed Wes King as Distribution Manager in Western Australia, expanding its national footprint and extending the co-ownership offer to more Australians to provide an alternative to cancelling their life insurance for no benefit.
King is the first locally-based resource in Western Australia and will work with financial advisers and their clients in the region. His appointment reflects increased demand for iExtend and the service it provides Australians questioning the value of their life insurance.
King brings extensive experience to the newly created role, a career-long professional in financial services spanning more than 25 years working with insurance providers and licensees. Most recently King was Business Partnerships Manager at Resolutions Life and prior to this, he spent time with Integrity Life, Guardian Advice and OnePath where he was a Senior BDM for six years.
iExtend Head of Distribution Protip DasGupta commented, “We are excited to be expanding our team with Wes’s appointment on the west coast, a reflection of the momentum which iExtend is continuing to build in the market and with financial advisers over the past two years, particularly since the acquisition of our retail licence earlier this year.”
In a report commissioned by the Council of Australian Life Insurers (CALI), more than two-thirds (68%) found Australian workers are concerned that the cost-of-living pressures will impact their ability to afford life insurance in the future. Further, 23% would consider cancelling their life insurance cover if affordability was to become an issue.1
iExtend considers policies where the policyholder has already committed to fully or partially cancelling their term life insurance cover. By entering an iExtend Life Co-Ownership Arrangement, Australians can retain an original share of their term-life policy, with iExtend paying all the premiums on the co-owed policy.
In July this year iExtend was granted its Australian Financial Services License by the Australian Securities and Investments Commission, marking a significant development in the business’s history and growth. Following this, iExtend embarked on a national licensing roadshow with its risk adviser network, the iExchange Forum and will have a strong presence at the FAAA National Congress in Brisbane in November.
“iExtend is building good support in the Australian market, an output of the strong and valuable relationships financial advisers has with their clients,” said DasGupta. “We do not take this support for granted and are committed to providing financial advisers with what they need to look after their clients.”
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