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Showing 1 - 10 of 146 results for "Underinsurance"

A third of Aussies want life insurance advice: Research

CHLOE WALKER  |  THURSDAY, 7 DEC 2023
... they obtain it at a younger age (25%). "There is a clear unmet financial advice need in Australia and a growing underinsurance problem that is leaving people unprotected when times get tough," Cupitt said. "Almost one in two Australians say the main ...

HESTA pushes for gig worker super entitlements

ANDREW MCKEAN  |  MONDAY, 29 MAY 2023
... proportion of Australian workers who do not have life insurance cover. In turn, this would increase the degree of underinsurance in the Australian community and the consequential burden on the social security system," an ASFA report said. More recently ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... level of protection from people falsely claiming when they have a known medical issue," it added. With the growing underinsurance challenges in Australia, HCF Life said it feels it is in the best interests of consumers to have direct access to affordable ...

Poor financial literacy worsens underinsurance problem

KARREN VERGARA  |  TUESDAY, 28 FEB 2023
Australia's poor level of financial literacy is potentially making the underinsurance problem worse and puts women further behind, according to MetLife. The life insurer looked at the impact of financial literacy on Australians' financial health ...

QAR could see 12% increase in insured Aussies

CHLOE WALKER  |  THURSDAY, 20 OCT 2022
... policies and new business, even with these changes in place, it is expected to take at least 10 years to address the underinsurance gap, it said. In response to the research, FSC chief executive Blake Briggs said that the government has a rare opportunity ...

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... working," the association said. "This statistic alone is enough to demonstrate that Australia has a problem with underinsurance." The AFA concluded by saying it welcomed the Quality of Advice Review consultation process and the open debate on how to ...

AIST, MetLife tackle underinsurance issue

KARREN VERGARA  |  TUESDAY, 8 FEB 2022
... Superannuation Trustees have joined forces to raise awareness about the importance of group insurance in a bid to tackle the underinsurance problem. AIST chief executive Eva Scheerlinck told Financial Standard that this partnership will ensure profit-to-member ...

Lying rife in life insurance applications

ANNABELLE DICKSON  |  FRIDAY, 9 JUL 2021
... Life Insurance report aims to increase customer engagement. As a part of the research, Rice Warner showed that underinsurance costs the government $57 million for life insurance and $1.26 billion for TPD; people without life cover or who are underinsured ...

Life insurance drives economy: Research

ANNABELLE DICKSON  |  TUESDAY, 6 JUL 2021
... government's largest budget item was social security and welfare at 33.9%. Rice Warner research also showed that underinsurance costs the government $57 million for life insurance and $1.26 billion for TPD;people without life cover or who are underinsured ...

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... for further analysis in the context of the Quality of Advice Review," Hume said. Treasury will keep the issue of underinsurance and access to affordable advice front of mind in analysing the data. Hume said the move will remove the duplication of work ...
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