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Showing 11 - 20 of 68 results for "Disability Income"

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
... cover, while around 7.7 million had total permanent disability (TPD) cover, and about 3.9 million had temporary disability income replacement insurance through group insurance arrangements in superannuation. The total value of insurance cover amounts ...

ClearView enhances ClearChoice products

CASSANDRA BALDINI  |  MONDAY, 27 MAR 2023
... clarity for both customers and advisers. Clients on the top level of IP cover will now also be paid 70% of pre-disability income until their cover expires, meaning 70% of clients can continue through to age 65. In addition, the Income Support Booster ...

CareSuper changes TPD definition, extends cover

ANDREW MCKEAN  |  TUESDAY, 14 MAR 2023
... they will not be eligible for the extended death cover. The super fund is also increasing the maximum level pre-disability income for income protection cover. The maximum pre-disability income replacement will be increased from 85% to 87% of their pre-disability ...

Don't call it a comeback: APRA on IDII

CHLOE WALKER  |  TUESDAY, 10 JAN 2023
There may well be a light at the end of the individual disability income insurance (IDII) tunnel, but there's still a way to travel before the end is reached, according to APRA. Analysis of data to September 2022 shows IDII enjoyed a run of favourable ...

Insurers are 'fishing' for non-disclosures: ASIC

ANDREW MCKEAN  |  FRIDAY, 2 SEP 2022
An ASIC review of individual disability income insurance claims has determined that more work is needed by insurers to ensure customers are protected from unfair practices. ASIC has longstanding concerns about the potential consumer harm resulting from ...

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... the AFA called it a nonsensical suggestion. APRA data shows that there are 5.2 million Australians who have disability income insurance, the AFA cited. "This means that 38.5% out of 13.5 million working Australians have disability income insurance. A ...

APRA suspends IDII work, "disappointed" in industry

ELIZABETH MCARTHUR  |  FRIDAY, 25 MAR 2022
APRA has suspended its work on individual disability income insurance, which was causing huge losses to insurance companies, expressing disappointment in the industry's response. The regulator first announced it was intervening on IDII products in 2019 ...

APRA hones in on post-retirement products

KARREN VERGARA  |  TUESDAY, 23 NOV 2021
... of products are coming to market - another chicken and egg-type impasse." Rowell highlighted how individual disability income insurance products have resulted in disastrous outcomes for consumers and insurers. She does not want to see super trustees ...

ClearView launches risk product suite

KARREN VERGARA  |  THURSDAY, 23 SEP 2021
... regulators. ClearChoice Income Protection offers two base structures: IP and IP Flex. IP pays up to 60% of pre-disability income to age 65, while IP Flex, pays up to 70% of pre-disability income for the first two years of a claim. This can be extended ...

IDII pitfalls advisers should avoid

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Financial advisers must beware the pitfalls of problematic individual disability income insurance products and avoid circumstances that could land them in trouble with the financial complaints body. As part of a panel of experts at the Association of ...