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Showing 251 - 260 of 994 results for "Premiums"

ASIC explores value for money in default group insurance

ELIZABETH MCARTHUR  |  MONDAY, 14 DEC 2020
... estimated that super members with default insurance will be paid up to 79 cents in claims for each dollar of insurance premiums they were charged over the six-year period to FY 2018-19. "Many Australians hold life insurance through their super fund. ...

Vision Super increases premiums

ELIZABETH MCARTHUR  |  TUESDAY, 8 DEC 2020
Vision Super and its group insurer MLC Life have increased the cost of insurance premiums by 17.8%. The $10.3 billion industry fund said that MLC Life had determined the 17.8% increase was required to continue to cover the cost of providing insurance ...

ASIC to improve default insurance

KARREN VERGARA  |  FRIDAY, 4 DEC 2020
... found a high proportion of members are generally defaulted in the highest-risk occupation category and end up paying high premiums. On average, members categorised in the highest-risk occupation pay almost double than those in the lowest-risk category. ...

Industry fund names new group insurer

JAMIE WILLIAMSON  |  THURSDAY, 19 NOV 2020
... AIA, commencing January 1. Under the new arrangement, the cost of unitised death and TPD cover will change to age-based premiums. As a result, some members may see an increase to their premiums, while others may see theirs decrease. There will be different ...

Super fund increases premiums

KARREN VERGARA  |  WEDNESDAY, 18 NOV 2020
... member for example, covered for death, TPD, and income protection earning $75,000 per year can expect an increase in total premiums of about $8.92 per week. "As a profit-for-members fund, we don't increase premiums unless we absolutely have to," the ...

Club Plus announces insurance changes

ELIZABETH MCARTHUR  |  MONDAY, 16 NOV 2020
... announced significant changes to its insurance offering with group 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 ...

Sunsuper ups TPD premiums

KARREN VERGARA  |  WEDNESDAY, 11 NOV 2020
Sunsuper will increase premiums for total and permanent disability insurance from 1 January 2021. This is the first increase for Sunsuper members since 2014. A 35-year-old female with default cover for example, will pay an additional $0.52 per week ...

Westpac profits down on AUSTRAC fine

ANNABELLE DICKSON  |  MONDAY, 2 NOV 2020
... margins and higher compliance costs. Insurance recorded a net loss of $480 million due to bushfires, storms and lower premiums, while Westpac Pacific recorded $11 million cash profit down $58 million over the year. Westpac recorded positive results for ...

Rest increases admin fees

JAMIE WILLIAMSON  |  MONDAY, 26 OCT 2020
... their administration fees go up next month and will no longer see the benefit of tax deductions related to insurance premiums. Rest has notified members their admin fees will rise from November 28, from $1.30 per week plus 0.10% to $1.50 per week plus ...

Legacy AMP Life policyholders take premium hit

ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
... 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 more from December 18. One customer's premiums on an income protection policy increased from ...