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Showing 181 - 190 of 380 results for "Insurance premiums"

Super fund slashes fees, switches administrator

KARREN VERGARA  |  WEDNESDAY, 21 NOV 2018
A $5.5 billion superannuation fund scrapped several fees, discounted its insurance premiums and changed administrators. EISS Super announced several changes that took effect from 1 October 2018 affecting its superannuation, pension, retirement scheme ...

Royal Commission hits Westpac cash earnings

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
... group described its business growth as sound, with loan growth up 4%, average funds also rising 4% and life insurance premiums 20% higher. "While we have more work to do, we are dealing decisively with known issues. We have lifted our productivity target ...

An insight into AFCA workload

DARREN SNYDER  |  TUESDAY, 30 OCT 2018
... in Q3 2018, about one-quarter (24.4%) were for death benefit distribution. This was followed by deduction of insurance premiums (9.6%) and fees and charges (5.7%). This order matches the types of complaints the tribunal received during the quarter.

Productivity Commission counters group insurance research

KARREN VERGARA  |  MONDAY, 29 OCT 2018
... security payments, primarily Disability Support Pension (DSP) payments. Additionally, super balances eroded by insurance premiums lead to greater Age Pension payments for some members. Taking tax implications into account, the Commission said insurance ...

Industry fund drops life premiums, pension fees

JAMIE WILLIAMSON  |  THURSDAY, 18 OCT 2018
A $1.5 billion industry superannuation fund is reducing select insurance premiums after renegotiating its group insurance mandate. It also slashed the administration fee on its pension account. Under a new group cover deal with MetLife, REI Super has ...

AMP defends charging dead clients

HARRISON WORLEY  |  THURSDAY, 4 OCT 2018
... customers in a submission to the financial services Royal Commission. The wealth manager continued to deduct life insurance premiums from a deceased customer, even after AMP has been notified of their death, as revealed in the sixth round of the Commission. ...

Choice members worse off in retirement: Research

KARREN VERGARA  |  TUESDAY, 18 SEP 2018
... in super fees in the 12 months to 30 June 2018, rising 10% on the prior corresponding period (this excluded insurance premiums and additional advice fees). Across all products, the average fee stood at 1.23% compared to 1.16% in 2017. The average MySuper ...

AMP defaulted members as smokers: Royal Commission

KARREN VERGARA  |  MONDAY, 17 SEP 2018
... pointed out that under ASIC regulatory guide 529, trustees cannot presume that members smoke in determining their insurance premiums. "There are low levels of smoking in the community, with only 14.5% of adults being daily smokers. In these circumstances ...

Life insurers admit to misconduct: Royal Commission

HARRISON WORLEY  |  MONDAY, 10 SEP 2018
... between 2014 and 2018, 26% of the ANZ Financial Planning APL consisted of OnePath products, yet 88% of new insurance premiums paid in 2014 were paid in respect of OnePath products. Driving home the point, Orr said a quarter of the life insurance products ...

Insurance in super code weak: ASIC

KARREN VERGARA  |  MONDAY, 10 SEP 2018
... defaulted members as 'smokers' when transferring them to different sections of the same fund, resulting in higher insurance premiums. All trustees have now agreed to discontinue this practice, ASIC said. While the regulator acknowledged the industry's ...