Direct insurance taints consumer views on life insuranceBY LAURA MILLAN | TUESDAY, 4 FEB 2014 12:15PMBad experiences with direct life insurance companies are tainting consumers' views of life insurance in general, according to Synchron director John Prossor. Related News |
Editor's Choice
ARK Invest awards local distribution mandate
Cathie Wood's ARK Investment Management has chosen Associate Global Partners (AGP) to help distribute its venture capital strategy to Australian wholesale investors.
APRA names new deputy chairs
The Australian Prudential Regulation Authority (APRA) has welcomed the appointment of two new deputy chairs, with current board member Therese McCarthy Hockey and former assistant treasurer David Bradbury set to join the regulator's leadership.
MySuper provides consistent returns for members: Rainmaker
New data from Rainmaker Information found MySuper or default options continued to deliver consistent performances and returns for Australians, despite periods of uncertainty.
Australian Unity names new wealth chief
Australian Unity has named the successor of Esther Kerr, who departed the organisation last year.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
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!
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