Financial Standard Comments - Direct insurance taints consumer views on life insurance Bad experiences with direct life insurance companies are tainting consumers' views of life insurance in general, according to Synchron director John Prossor. https://www.financialstandard.com.au/feed/latest?story=37637490 Tue, 04 Feb 2014 15:46:30 +1100 Tue, 04 Feb 2014 15:46:30 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Terry Hannagan (Wealthmasters Financial Services) So, lets get some examples of these "bad experiences" (it was after all only a matter of time) out in the public domain to educate regarding the dangers of not taking advice for such an important matter. Might be a bet tricky enlisting the support/interest of commercial TV!

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]]> Terry Hannagan (Wealthmasters Financial Services) Tue, 04 Feb 2014 15:46:30 +1100 Comment by Brian Sadler (Benwest Investment Services)

The direct sale of insurance policies, without underwriting prior to acceptance, is simply a 'premium grab' by the underlying insurer who is generally one of the large life companies. They can lower premiums with the knowledge that a large number of claims will not be paid due to non-disclosure.

What a disgrace to the insurance industry, and what immeasurable harm to the profession, and what potential harm to those honest Mum's and Dad's who think their families are protected.

Shame

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]]> Brian Sadler (Benwest Investment Services) Thu, 13 Feb 2014 14:13:32 +1100