ASIC shines spotlight on insurance adviceBY DARREN SNYDER | THURSDAY, 25 JAN 2018 1:04PMAmong the 200 financial planning client files reviewed by ASIC, 10% were considered to have serious concerns over life insurance arrangements. Related News |
Editor's Choice
Jo Townsend named chief executive of NZ Super
One of Australia's most experienced superannuation executives will take the helm of New Zealand's sovereign wealth fund, following Matt Whineray's departure late last year.
QMV Legal folds, managing partner to launch new firm
Novigi will wind up QMV Legal as its managing partner Jonathan Steffanoni embarks on launching a new specialist superannuation law firm.
Best super fund products revealed
The best superannuation fund products, based on factors such as investment performance, insurance, fees, and organisational strength, have been named.
Platinum bleeds $1.4bn in outflows
Platinum Investment Management flags it will lose at least $1.4 billion as a partial redemption from institutional clients over the next month, translating to an $18 million hit to revenue.
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
So ASIC are comparing the pair are they? It looks like they are comparing a VW combi to a V8 Super car. It appears that the cover is going from a default Indemnity contract with default cover with a 2 year benefit period after a 90 day waiting period to an agreed value, 30 day wait to age 65 with a policy that is outside super, meaning that there are other benefits that the VW policy cant offer. The new policy may be tax deductible too, meaning that it is more tax effective than reported by ASIC. Does ASIC not know the difference between a policy inside super has less benefits than a policy outside super and...the policy inside super will only pay up to 75% of the pre-disability income, whereas the Agreed policy will pay up to the agreed value regardless if employed or not, for a full disability claim. Again we are all guilty and sentenced to death before we can defend ourselves first.