Rice Warner warns of massive TPD underinsuranceBY JAMES FERNYHOUGH | TUESDAY, 3 DEC 2013 11:35AMUnderinsurance in life, income protection and total and permanent disability (TPD) cover is costing the government more than $1.5 billion a year, according to a new report by Rice Warner. Related News |
Editor's Choice
Australian Retirement Trust people chief to depart
|Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.
SSGA loses $2.4bn in two months
|State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.
AFCA seeks industry feedback on approaches
|The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.
Apex, ACA partner to broaden client services
|Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.
Further Reading
Sponsored by | Know the facts about lifetime annuitiesSaving for a happy retirement is Australia's #1 financial goal. Learn how LifeIncome can deliver more income, certainty, & choice. |
Products
Featured Profile
Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
Might be time to review the insurance companies so that they do not limit the amount of TPD to be the same or lower than life cover within Super funds.
A typically self-interested report, yet again trying to scare people into buying more insurance. It is not "underinsurance" if the person decides (a) to take accept the risk of not being insured (with the financial upside of no premiums if, in the more than likely outcome, there are no claimable events) and (b) a persons decides to self-insure rather than buy a policy from an insurer.