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Showing 171 - 180 of 994 results for "Premiums"

Cbus, Media Super set merger date

JAMIE WILLIAMSON  |  WEDNESDAY, 23 FEB 2022
... still below the MySuper average of 1.08%, coming in at 0.91%. Meanwhile, most members will see a 2% decrease in insurance premiums. Where a 40-year-old member may have paid $1 a week for $85,294 in death and TPD cover under Media Super's existing ...

Advised clients' major concerns in 2022

KARREN VERGARA  |  FRIDAY, 28 JAN 2022
... advisers - and it is currently the most difficult conversation taking place between them. Life insurers are increasing their premiums across the board and within 12 months or 18 months, push through a second rate increase. Premiums are skyrocketing by ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... within their superannuation where their insurance cover had lapsed. Statewide was found to have overcharged insurance premiums of at least $2.5 million to some fund members. Statewide also failed to report these issues within10 days of becoming aware ...

Media Super apologises for major calculator error

JAMIE WILLIAMSON  |  THURSDAY, 6 JAN 2022
... projected super balances and how long a balance may last based on, among other things, assumed administration fees, insurance premiums and investment returns. According to the apology sent by Media Super, the fund realised in September 2021 that the ...

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR  |  THURSDAY, 2 DEC 2021
... six matters filed related to charging fees to deceased customers; distributing duplicate insurance policies and seeking premiums from customers without a policy; charging superannuation members insurance premiums that included a commission despite them ...

ASIC files numerous cases against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 30 NOV 2021
... six matters filed relate to charging fees to deceased customers; distributing duplicate insurance policies and seeking premiums from customers without a policy; charging superannuation members insurance premiums that included a commission despite them ...

Industry fund cuts premiums

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
A $2 billion industry fund has reduced its insurance premiums by more than 17%. REI Super informed members premium rates will decrease by 17.5% for income protection and 3.3% for death and total and permanent disability (TPD) insurance. "We continuously ...

QSuper faces class action over excess premiums

JAMIE WILLIAMSON  |  THURSDAY, 25 NOV 2021
... Lawyers has filed the action in the Federal Court against QSuper, saying the fund changed life insurance policies and premiums on 1 July 2016 in a move that saw white collar members charged as though they were in roles with greater risk. According to ...

Risk inflows marginally recover

ANNABELLE DICKSON  |  FRIDAY, 19 NOV 2021
... ClearView (23.7%) and MLC (13.7). The statistics come after the life insurance industry said the increase in life insurance premiums over the last few years are a problem that needs to be fixed rather than a trend. Speaking on a panel at the Association ...

MLC to face court over insurance failures

JAMIE WILLIAMSON  |  FRIDAY, 19 NOV 2021
... $17.5 million in financial harm to more than 260,000 customers. The financial harm came in the way of unpaid benefits, premiums being charged without notice and underpaid refunds. ASIC alleges that from 1999 to November 2020, MLC failed to pay a life ...