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Showing 91 - 100 of 525 results for "Income protection"

Underinsurance gap worsens: Research

KARREN VERGARA  |  FRIDAY, 20 NOV 2020
... end of 2018. "Although we will see product innovation as insurers respond to APRA's intervention on retail income protection products, it will be challenging to completely reverse this trend," the report read. Rice Warner recommends the life insurance ...

Industry fund names new group insurer

JAMIE WILLIAMSON  |  THURSDAY, 19 NOV 2020
... decrease. There will be different amounts of default death and TPD cover for members under 25 years of age, and income protection (IP) will better align with member salaries - the value of IP units will change to cover a salary of up to $1000 per unit. ...

Super fund increases premiums

KARREN VERGARA  |  WEDNESDAY, 18 NOV 2020
... is changing the cost of insurance across the board at the turn of the New Year. Most QSuper members will see income protection cover go up 31%, while death and total and permanent disability (TPD) cover will increase between 40-45% from 1 January 2021. ...

Club Plus announces insurance changes

ELIZABETH MCARTHUR  |  MONDAY, 16 NOV 2020
... insurer OnePath. From 1 January 2021, members will see premiums on death, total and permanent disability and income protection cover reduce. Club Plus is also removing the insurance administration charge for insured members. The reductions are different ...

Sunsuper ups TPD premiums

KARREN VERGARA  |  WEDNESDAY, 11 NOV 2020
... get insurance. Many members will also see premium reductions, especially for death cover and, in some cases, income protection cover, chief financial officer Jason Sommer said. "As a profit-for-members fund, we only increase insurance premiums as a last ...

Insurers must shape up on mental health: TAL

ELIZABETH MCARTHUR  |  THURSDAY, 5 NOV 2020
... types. For TPD the average amount paid for mental health claims is almost 65% higher than the other claim. In income protection, mental health claims are 70% larger than other claim types. The higher claims cost could be due to differences in occupation ...

Life insurers recognised for innovation

KARREN VERGARA  |  TUESDAY, 3 NOV 2020
... the TPD Award (My Protection Plan - TPD Option Rider), the Customer Service Award for Life Companies and the Income Protection Award (My Protection Plan - IP Cover). TAL took home the Term Life Award (Lifetime Protection). The new Debt Insurance Award ...

Legacy AMP Life policyholders take premium hit

ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
Some retail AMP Life customers received a steep premium increase on their income protection policies recently. Customers in a legacy product from the life insurer were notified by letter or email that following a review of premiums, they would be paying ...

QInsure ramps up claims technology

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
... which integrated and automated the workflow for claims across life, total and permanent disability (TPD), and income protection. Some of the functionalities included calculating payments automatically. Another is the Financial Services Council's ...

ClearView seeks to raise at least $40m

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
... market conditions this year. The material life insurance industry suffered losses of around $1.23 billion on income protection portfolios in the year to 30 June 2020. In addition, ClearView said it expects COVID-19 impacts will further drive a decline ...