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Showing 131 - 140 of 523 results for "Income Protection"

How to ensure clients will pay higher fees

ELIZABETH MCARTHUR  |  FRIDAY, 28 FEB 2020
... challenges advisers will face during what he referred to as a transition phase. The banning of agreed value income protection from 1 April 2020, banning of grandfathered commissions from 31 December 2020, new annual renewal obligation starting this year ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... against TAL, for allegedly breaching the ASIC Act, Corporations Act and Insurance Contracts Acts in avoiding an income protection claim in 2014. One case, ASIC said, is currently being considered by the Commonwealth Director of Public Prosecutions for ...

CommInsure income protection off the menu

ELIZABETH MCARTHUR  |  TUESDAY, 18 FEB 2020
... came together under a Joint Cooperation Agreement in November 2019. AIA's Priority Protection will now be the income protection offering for the joint insurers. Priority Protection will now have an involuntary unemployment benefit, which is a CommInsure ...

Industry fund bumps up premiums

JAMIE WILLIAMSON  |  FRIDAY, 14 FEB 2020
... $0.34. Despite the changes to cost, the amount of cover remains the same throughout, VicSuper said. The cost of income protection is also going up, with increases between 19.83% and 20.13% depending on the member's age, occupation category and level ...

AIA income protection premiums jump

ELIZABETH MCARTHUR  |  FRIDAY, 14 FEB 2020
Premiums for retail income protection policies with insurer AIA have climbed substantially over the last two years. One AIA Priority Protection policy sighted by Financial Standard had a 27% increase from 2018 to 2019 and then a 32% increase from 2019 ...

HESTA hikes default insurance cover

KANIKA SOOD  |  THURSDAY, 13 FEB 2020
... eligible members automatically receive upon signing up unless they make a choice -- includes two units of the income protection (IP) to age 67 and two units of death cover to age 75. It does not include total permanent disability cover (TPD). Effective ...

AMP faces fresh class action

ALLY SELBY  |  WEDNESDAY, 12 FEB 2020
... The class action is open to anyone who obtained an AMP Flexible Lifetime Policy (including death, TPD, trauma, income protection and business protection insurance) from 2013 onwards from AMP Financial Planning, Charter Financial Planning or Hillross ...

What people really think about life commissions

ELIZABETH MCARTHUR  |  TUESDAY, 21 JAN 2020
... ASIC data shows on life policies bought through financial advisers 96% of death claims are paid out, 95% of income protection claims and 87% of total and permanent disability claims.

Free advice for bushfire victims

ELIZA BAVIN  |  MONDAY, 13 JAN 2020
... loan repayments, a one-off three month waiver form paying AMP life, total and permanent disability, trauma, income protection and business expenses insurance premiums. The package also includes the earl release of superannuation funds to help with expenses ...

MLC Life Insurance under review

ELIZA BAVIN  |  TUESDAY, 7 JAN 2020
Australia's life insurance industry is facing deteriorating profitability in relation to income protection products, according to MLC Life Insurance owner Nippon Life. The Japan-based majority shareholder of MLC Life purchased the business off National ...