An intermediary which wishes to provide advice to consumers on a PRSA issued by a life assurance company must be authorised as which?

• A. Investment intermediary only
• B. Investment and insurance
• C. All three
• D. Insurance intermediary only

Answer: (D)

PRSA is a life assurance product, so advising on it falls under insurance mediation. When a consumer seeks guidance about a PRSA issued by a life assurance company, the regulatory framework treats the activity as insurance-related advice, meaning the adviser must hold authorisation as an insurance intermediary. Investment intermediary authorisation covers advice on investments like funds or securities, not on life assurance contracts, and having both is not required here. While a PRSA may involve underlying investments, the regulatory focus for advising on the retirement product itself remains within insurance mediation. Hence the appropriate authorisation is as an insurance intermediary only.