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Last year on the ABC Morning Breakfast program during the ABC Royal Commission feeding frenzy, the co-host, Madeline Morris proceeded to inform their millions of viewers that having more than one superannuation fund was not appropriate and if you had multiple super funds that all included Life Insurance cover, that it was ridiculous because "you could only ever claim on one policy anyway " !!!!!!!!
It was very clear at that point her co-host Michael Rowland knew full well that she was entirely incorrect and appeared uneasy with Madeline's misinformed rant about multiple super funds, insurance cover etc.
She then continued by saying this as Madeline was a bit worked up.
" Well, there is no point at all in having more than one Life Insurance policy, because you only die once " !!!!!!!
This was immediately followed by continued "general advice " about people having to consolidate their super funds into only one fund without any comment at all regarding automatic acceptance terms on group insurance under super or consideration of a persons financial needs or health status etc etc etc.
And get this.....Madeline Morris freely admitted she had had multiple super funds over time and had no idea about most of them.
Madeline Morris has also been charged with presenting the finance report!!!!! on the ABC Morning Breakfast program, in addition to the Fact Check segment !!!!
So, how is it that a completely uninformed journalist who knows next to nothing about superannuation or insurance is able to blurt out incorrect information to hundreds of thousands, if not millions of people and its ok?
How long would an adviser last on air if they did the same thing ?
The many so called " financial commentators" or " money coaches" who have regular segments on national television or radio should be subject to exactly the same scrutiny in the provision of general advice.
Suffice it to say that Madeline Morris was not on the program the next day.