Michael Hull
iExtend has appointed Michael Hull as Chief Operating Officer to enhance its operational frameworks and to ensure compliance and regulatory standards and customer excellence continue to be delivered as the business grows.
Michael brings an extensive and broad business background to the role, having spent more than two decades in equity markets where he worked as a trader before moving into management roles and international appointments.
In this period of his career, Michael held senior appointments at BT Australia, Merrill Lynch and ANZ where he was the Head of Trading. Following this experience, Michael ran a successful franchise, working with Australian families to provide a technology-delivered education solution.
iExtend CEO David Sarkis said Michael joins the iExtend team at a crucial time in the business’s growth trajectory.
“Since iExtend gained its AFSL last year, iExtend has further cemented its place in the financial services industry as a provider of choice to life insurance policyholders who have decided to either cancel or reduce their cover and have experienced a health change.”
He added: “We want to ensure our methodology and procedures continue to deliver high rates of compliance and regulatory adherence and we look forward to Michael facilitating future business growth built on these strong foundations.”
iExtend was launched more than three years ago, providing Australians who were seeking to cancel or reduce their life insurance cover and had a change in health, with another choice.
Over the past 12 months, market conditions including cost of living crisis, interest rate uncertainty and rising premiums, have driven more Australians to question the value of their life insurance and to view it as a liability rather than an asset.
“We want to instil confidence and value into life insurance by providing Australians with another option to cancelling or reducing their cover after a change in health,” said Sarkis.
For more information on this media release, please contact:
Fiona Harris
MOB: 0466 012 434
Email: [email protected]
About iExtend
iExtend exists to address the gap in the life insurance market for policyholders cancelling their life insurance. Backed by a major family office, iExtend collaborates with advisers and market-leading service providers such as Perpetual, to further support the development and growth of the business. iExtend presents its offering under its AFSL. IExtend does not provide personal advice on existing life insurance or the cancelation decision, this remains with financial advisers who retain the servicing adviser relationship.
Summary of the iExtend Offer
iExtend offers a no-additional-cost life insurance retention option for Australians to retain some cover for their beneficiaries. 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. While cancelling a life policy will save policyholders the costs of further premiums, the value of all past premium payments will be lost, and any potential future benefits can no longer be relied upon.
iExtend provides an opportunity for policyholders to maintain some of their original cover after they have determined to cancel. iExtend will only consider policies where the policyholder has already committed to fully or partially cancelling their term-life insurance cover.
Finally, iExtend is a private company offering life insurance policyholders the opportunity to retain some value that would otherwise be lost when cancelling by acquiring interests in life insurance policies through a Life Co-ownership Arrangement. iExtend does not intend to provide, nor does it provide, financial, legal, or personal advice of any kind, including to its co-owners, other than of a general nature regarding the Life Co-ownership Arrangement and within the terms the iExtend AFSL.
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