Life insurance policy extender iExtend has gained its AFSL after ASIC accepted a court enforceable undertaking from the business to apply for a license earlier this year.
The business said the ASFL broadens the scope of its offering, and with the appropriate authorisation for iExtend personnel to provide general advice, there is now greater scope to support a referral and introduction relationship to the iExtend offering.
iExtend offers to pay people’s life insurance premiums in exchange for a portion of the benefit if a claim is made by entering into a co-ownership deed with policy holders, giving the chance to extend policies that might have to be cancelled because the client can no longer afford to pay for the premium.