Financial Standard Comments - PC disability insurance final report released The Productivity Commission has released its final report into the Disability Care and Support review and re-affirmed its recommendations that the government should establish fully-funded social insurance schemes to commence in 2015. https://www.financialstandard.com.au/feed/latest?story=12197975 Wed, 10 Aug 2011 14:04:43 +1000 Wed, 10 Aug 2011 14:04:43 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Sue Laing | the risk store () We couldn't agree more with the government that the private sector has too little penetration. Has it not occurred to the government, however, that part of the massive cost of this scheme could be funded more efficiently by giving tax deductions for individual TPD cover, as they do for income protection? (but for different underlying reasons?)
Could they not at least consider this? Then we could expect to exponentially increase the take-up of private funding, that by its nature will not be subject to a raft of likely tests and hurdles and proofs that we can expect to apply to eligibility under a publicly funded scheme.
Has the FSC any intention of proposing the involvement of the private retail insurance sector in honing the solutions?
This will naturally only assist those who become disabled after birth and in fact mostly those for whom disability occurs in adulthood, not any congenital or birth related disabilities. But it would be a partial funding solution, good for the population who do like to be self-sufficient and cost-saving for the government.
So FSC - how and when are we participating?

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]]> Sue Laing | the risk store () Wed, 10 Aug 2011 14:04:43 +1000