Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 111 - 120 of 524 results for "income protection"

AMP, BT and CBA to face class action

ELIZABETH MCARTHUR  |  FRIDAY, 31 JUL 2020
... commenced against AMP Life Limited. Shine is alleging that BT and CBA also sold customers overpriced in-house life, income protection and total and permanent disability insurance but so far proceedings have only been filed against AMP. "We argue all ...

Life insurance needs to prove value

ANNABELLE DICKSON  |  WEDNESDAY, 29 JUL 2020
... million covers, 90% of lodged claims were paid and the highest cause of claim was mental health at 25%. For income protection/disability income there were 5.8 million covers in force, 95% of lodged claims were paid and the highest cause of claim was ...

FSC reveals life insurance data

ELIZA BAVIN  |  TUESDAY, 28 JUL 2020
Cancer is still the biggest killer of both men and women, while women are more likely to claim income protection for mental health reasons, according to the Financial Services Council. The FSC said it is using Life Insurance Awareness week as an opportunity ...

Super fund COVID-19 requirements to remain

ANNABELLE DICKSON  |  THURSDAY, 23 JUL 2020
... Protecting Your Super reforms. For the monthly reports, APRA clarified the monthly benefit is to be reported for income protection insurance claims rather than the value of the claim and that the claim duration refers to the time period between receipt ...

Qantas Super awards insurance mandate

ELIZA BAVIN  |  WEDNESDAY, 8 JUL 2020
... for standard/basic cover and voluntary cover from 1 August 2020. The fund added there will also be changes to income protection cover while members are on leave without pay from 1 August 2020. In December last year, Qantas Super said it has mandated ...

Industry fund ups insurance premiums

HARRISON WORLEY  |  THURSDAY, 25 JUN 2020
... cost $0.69. Currently, the same member would be charged $1.06 for combined cover and 0.62 for death only cover. Income protection cover is also more expensive, with a member turning 45 at their next birthday charged, $131.78 for a 30 day waiting period ...

Is a market turning point around the corner?

HARRISON WORLEY  |  WEDNESDAY, 10 JUN 2020
... require a change in the "current narrow narrative as economies cyclically recover and stimulus switches from income protection to investment". "Given the extreme level of multiple dispersion, tomorrow's market leaders are most likely to be misunderstood ...

Life insurance activity rises: MetLife

ELIZA BAVIN  |  TUESDAY, 9 JUN 2020
... Since the outbreak of COVID-19, MetLife said it has experienced a marked increase in enquiries for life and income protection insurance. "While it's encouraging to see so many Australians, particularly those in the younger age bracket, take active steps ...

Industry fund swaps insurers

KANIKA SOOD  |  WEDNESDAY, 6 MAY 2020
... changes to death and TPD cover. The change builds from September last year when Energy Super transitioned its income protection from MLC to OnePath. The fund said costs for some members will go up. There are no changes for defined benefit members. "Since ...

Risk advisers under fire

ELIZABETH MCARTHUR  |  THURSDAY, 23 APR 2020
... group total and permanent disability insurance was 85%, compared to 45% on retail policies. "It also shows that income protection through super led to just 33.7 disputes per 100,000 people insured, compared to retail income protection policies, which ...