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Showing 11 - 20 of 47 results for "disability income insurance"

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... 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 disturbing ...

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
... 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 designing ...

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 ...

Higher premiums a problem, not a trend: AFA

ANNABELLE DICKSON  |  TUESDAY, 21 SEP 2021
... time we all must collectively come together to get this right because income protection insurance or disability income insurance in particular is that is the core risk management tool consumers use to protect their most important asset - their ability ...

Actuaries Institute unveils IDII recommendations

KARREN VERGARA  |  MONDAY, 24 MAY 2021
The Actuaries Institute has released sweeping recommendations to help fix the individual disability income insurance (IDII) sector that is currently at "risk of failure". The final recommendations follow a 12 month-review, led by an appointed Actuaries ...

APRA extends IDII overhaul deadline

KARREN VERGARA  |  THURSDAY, 13 MAY 2021
... APRA has given life insurers another year to have the policy contract term measure for individual disability income insurance (IDII) in full force by 1 October 2022. The prudential regulator has acknowledged the challenges life insurers are facing, expressing ...

Adviser-led TPD claim admittance rates fall

KANIKA SOOD  |  TUESDAY, 20 APR 2021
... data published by APRA and ASIC included death, total and permanent disability (TPD), trauma, and disability income insurance (DII) among others. It listed their admittance rates and claims paid out ratios for four channels (individual advised, individual ...

Risk inflows stay flat

ANNABELLE DICKSON  |  WEDNESDAY, 3 FEB 2021
... Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit in individual ...

Life insurance performance plummets

ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit in individual ...