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| | | Financial advisers across Australia now play a greater role in supporting clients through life insurance claims, with almost 80% of advisers saying it's a key part of their offering. TAL commissioned The Value of Financial Advisers at Claim Time to ... |
| | | | ... only received 100 complaints about the same issue in FY21. Interestingly, complaints about the same issue in the life insurance sector also increased significantly. Complaints about interpretation of product terms and conditions rose from 45 to 234 ... |
| | | | ... desperately need it," the AFA stated. Choice has made recommendations related to adviser remuneration, including banning life insurance commissions and asset-based fees. Choice claims that life insurance commissions "create a perverse incentive for advisers ... |
| | | | ... diligence as a director. The firms, which sold life, funeral and accidental injury insurance issued by St Andrew's Life Insurance, were labelled one of the "most egregious" by ASIC in 2018 when it came to poor sales practices in regional and remote communities. ... |
| | | | ... previously served as Zurich Financial Services' risk chief, overseeing all elements of the business including life insurance and superannuation. "I'm delighted to welcome Jane to MLC Life Insurance. She is a seasoned and experienced chief risk ... |
| | | | MLC Life Insurance has made improvements to its Income Assure and Income Assure+ products following adviser feedback. As a response to cost-of-living pressures, MLC has afforded customers the option to 'inflation proof' their cover to ensure ... |
| | | | ... are in the final stages of executing." As previously reported by Financial Standard, AMP began its exit of the life insurance business last year flagging that it would divest the company's $524 million stake in Resolution Life. As part of this divestment ... |
| | | | AMP has called for the federal government to review life insurance model fees and caps placed on financial advisers, warning the current climate will lead to an underinsured population. The wealth manager picked at old wounds in its submission to the ... |
| | | | The latest iteration of the Life Insurance Code of Practice features more than 50 new consumer protections, including a ban on blanket mental health exclusions and greater limits on surveillance. The updated Code follows consultation with industry ... |
| | | | Australia's life insurance industry will soon have a new peak body, the Council of Australian Life Insurers (CALI). Expected to launch later this year, CALI is the brainchild of a collective of life insurers who believe it is now time for the sector ... |
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