iExtend expands into WA with latest appointment

iExtend has announced the appointment of Wes King as distribution manager in Western Australia, a newly created role and the firm’s first locally based representative in the state.

King has more than 25 years of experience in financial services and prior to joining iExtend, held a number of senior positions across the industry. Most recently, he was the business partnership manager at Resolution Life Australia for more than four years and was the state manager in WA at Integrity Life before that.

Speaking on the announcement, iExtend head of distribution Protip DasGupta said the firm is pleased to be expanding its reach as they welcome King to the team.

“We are excited to be expanding our team with Wes’ 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,” DasGupta said.

“iExtend is building good support in the Australian market, an output of the strong and valuable relationships financial advisers has with their clients.

“We do not take this support for granted and are committed to providing financial advisers with what they need to look after their clients.”

Earlier this year, the Australian Securities and Investments Commission granted iExtend an Australian Financial Services License (AFSL).

Upon the July announcement, the firm said the decision would allow it to expand its service offerings and “provide financial advisers with stronger support to help their clients with insurances that would otherwise be abandoned by them”.

Launched in 2021, iExtend offers Australians who have determined to cancel their life insurance policies, either wholly or in part, the opportunity to maintain some cover through its co-ownership arrangement wherein it acquires interest in the policy, takes on some of the ongoing responsibility for premiums, and entitles the firm to a portion of any subsequent claims.

Highlighting the concerns from Australians regarding life insurance cover, a report by the Council of Australian Life Insurers released in August found that almost one in seven (68 per cent) Australian workers were concerned about their ability to afford their life insurance as a result of cost-of-living pressures, while another 23 per cent said they would consider cancelling their life insurance cover if affordability became an issue.