The FMA has this new page of advice to consumers on replacement. Link.
The first thing to note is that this is very ‘pro-advice’. The premise of the page is that the consumer should get advice on insurance replacement, and that advice is essentially the best way to overcome the risks of replacement. Including suggestions which advisers may find useful when faced with, say, an inability to get good information on an existing policy.
The second is that they are very clear about the consumer’s obligations in the replacement process – honesty.
Finally they also make it clear to consumers the kinds of incentives that advisers may enjoy for replacing a policy – listing commission, and types of soft commissions as well.