AMP's insurance business has launched a Life Insurance Framework (LIF) resource hub featuring a range of tools to help advisers prepare for the legislation taking effect from 1 January 2018.

Advisers can assess their LIF readiness with a cashflow modeller that allows advisers to consider the impact different remuneration structures could have on their business. The resource hub also features video tutorials.

AMP's Director Insurance Proposition Greg Johnson said by providing the appropriate resources, tools and insights, the online hub will help advisers understand implications of the LIF reforms and help them take the necessary steps to transition their business.

"AMP is focussed on supporting advisers with the tools they need so they can continue to drive good outcomes for their customers," Mr Johnson said.

The cashflow modeller allows advisers to compare current cashflow and capital valuation with future projections and understand how adjusting key financial levers could influence the health of their business.

Mr Johnson said: "We know advisers are experiencing a huge amount of change as the insurance industry adjusts to a new operating environment, and they need the right support and resources to continue to service the diverse and changing insurance needs of their customers."

The launch of the resource hub follows a range of LIF readiness activities for AMP aligned advisers. Licensee support has included professional development master classes, legislative updates and specialised training for practice staff and will be followed by webinar training next month.

This includes a practice diagnostic tool to help aligned advisers uncover areas of their business that may need attention. It provides an action plan so they have clear steps to prepare their practice.

Mr Johnson added: "Helping advisers to manage and drive sustainable businesses is vital to ensuring our industry continues to make insurance accessible to as many people as possible."