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LIFE INSURANCE
Life/Risk
The Financial Services Council has issued a new Life Insurance Code of Practice for life insurers, introducing 50 additional consumer protections....
Life/Risk
Commission should continue to be offered on insurance advice, according to The Advisers Association, and current commission rates are too low which was causing advisers t...
Life/Risk
Further changes to life insurance commission caps could see up to 87% of financial advisers stop providing standalone risk insurance advice, according to ClearView resear...
Financial planning
NEOS and MLC Life Insurance have released their Encompass Protection retail life insurance offering designed in response to the increasing cost of providing risk advice....
Financial planning
With the Quality of Advice Review happening this year, one of ClearView’s regulatory priorities is that there be no further changes to risk commissions, an area flagged f...
Financial planning
In an unprecedented move, the corporate regulator has launched multiple civil penalty proceedings again the bank for matters including fee-for-no-service for deceased cus...
Life/Risk
Despite some improvements in risk product profits, group lump sum and group disability income insurance made losses over the year to September. ...
Life/Risk
While only making up 2% of total complaints received by the Australian Financial Complaints Authority, life insurance complaint handling time has almost doubled in two ye...
Life/Risk
Life insurers which use blanket exclusions on the basis of mental health should be subject to a regulatory review as they could deter people from seeking treatment. ...
Financial planning
Due to the level of personal information required for investment and superannuation advice, general advice only works for risk advice, while the corporate regulator confi...
Life/Risk
With risk advisers leaving in droves DEXX&R believes there is opportunity for life insurers to set up their own dealer groups as long as they have an open approved produc...
Features
The life insurance industry’s losses have stemmed mostly from unsustainable income protection products, Jassmyn Goh writes, but will the new products help end bad habits?...
Life/Risk
Financial Services Council superannuation and life insurance members will be prohibited from the use of exclusions and restrictive disability definitions because a super ...
Life/Risk
Income protection complaints accounted for the most complaints in regards to life insurance during FY2020-21, especially when it came to the calculation of benefits for b...
Tools & guides
When it comes to divorce and separation, Alex Koodrin examines why it is important to talk with clients about the implications for life insurance sooner rather than later...
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...