Bank employees want to deliver service to their customers instead of being under constant pressure to sell, the FSU believes.

The Australian Securities and Investments Commission (ASIC) has warned advisers against seeking to switch clients into new life/risk policies to beat the commission caps and clawbacks applying as a result of the Life Insurance Framework (LIF).

ASIC deputy chairman, Peter Kell issued the warning stating that ASIC would be undertaking surveillances on the issue.

The commissions caps and clawback applying to the LIF will come into effect from 1 January, next year.