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Cost of group insurance declinesBY KARREN VERGARA | TUESDAY, 8 JUN 2021 12:22PM
Despite the spate of superannuation funds increasing the cost of cover, new Rainmaker analysis shows group insurance premiums fell by 7% to a four-year low of $8.7 billion.
Read more: Rainmaker, ASIC, TAL, MetLife, MySuper
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AIA Australia's newly launched advice business has named a chief executive to lead its efforts, as the life insurer brings some Commonwealth Financial Planning advisers into the fold.
Yesterday's Standing Committee hearings on financial advice suggested the corporate regulator and industry superannuation funds are the only ones benefiting from increasing costs.
The superannuation startup geared at self-employed workers is looking to raise $1.5 million, as it sets it sights on 60,000 members in five years.
The Australian Financial Complaints Authority (AFCA) has made changes to its procedures to weed out complaints where the consumer didn't really suffer any financial harm.
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