moneyblog

Fighting obesity and saving lives

With a growing issue of child obesity, the Chilean Government implemented several preventative measures in 2016. The government:

• Banned advertising unhealthy foods to children
• Prohibited unhealthy foods being sold in and around schools
• Included bold labels on packaging

The new regime increased consumer awareness, ensured that Chile reduced the number of premature deaths that occurred each year as a result of obesity as well as ensuring that national healthcare costs wouldn’t skyrocket as a result the increased rate of obesity.

I am not sure if Chile's policy decisions are the right ones, but it is a challenge to us to consider what we need to do. New Zealand has a problem with obesity. Compared to Chile, our situation is much worse. Chile is about the 60th most obese country with an average BMI of 26.8, compared to New Zealand at 28th most obese country with an average BMI of 27.9. Although obesity is listed as only the fifth largest cause of deaths by risk factor (see below) it is also strongly correlated with high blood pressure and high blood sugar - often diet being a common cause of all three. 

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Australia: another study shows people are better off with advice

According to anew report issued by Russell Investments in Australia states that financial advisers add at least 4.4% or more every year to clients - and a total of about $560,000 better off overall. Rather than see this as another shot-fired in the 'active' versus 'passive' debate, I prefer to focus on the behavioural aspects that financial advisers bring to the relationship - that applies to risk management, to insurance, to home loans advice, and debt repayment, and holistic financial advice. Readers will know that I am made keen on technical aspects of our industry: policy comparison especially, but also financial performance, price, underwriting, and digital advice. All these matter, but the central territory for advice is helping clients change. 

The study worked with a number of advisers from US, Canada and Australia for the past 20 years and identified five key areas of financial advice in the report: annual rebalancing, preventing behavioural mistakes, planning and additional wealth management services and tax-smart investing. Click here to read more. 

 

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Quality Product Research Limited Updates

The new research datbase V118 has just been uploaded onto Quotemonster with a few rating changes as outlined below:

• Partners Life new policy documents dated 5 /12/ 2018 for all products
• Pinnacle Life's Funeral Cover new policy wording
• Nib new rating for serious illness wording
• Westpac remediation for Life and Trauma
• Onepath updated policy wording v 4.4
• Co-op Bank life new policy wording for Life and Trauma

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