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Showing 21 - 30 of 525 results for "Income protection"

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
... superannuation fund after being cold called to do so. Mr. M failed to consider the client's life, TPD and income protection policy in the prior super fund when recommending the switch in the SoA. Furthermore, Mr. M recommended a high-growth investment ...

TelstraSuper introduces new option, drops premiums

JAMIE WILLIAMSON  |  MONDAY, 26 JUN 2023
TelstraSuper is making changes to its investment menu, while also decreasing income protection premiums for members. The $25 billion corporate fund is introducing a new option for accumulation and TTR members from next month, the Moderate investment ...

ESSSuper reduces admin fees, renews insurance mandate

JAMIE WILLIAMSON  |  MONDAY, 5 JUN 2023
... of Daily Work (ADW) definition or mental illness TPD definition. Meanwhile, some of the changes being made to income protection cover include extending the recurrent disability definition from six months to one year before the waiting period applies ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. At the time, MLC provided income protection cover through policies that contained a term under which the insurer promised to pay a 'Rehabilitation Bonus Benefit' ...

Australian Retirement Trust reduces fees, ups premiums

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... male members, standard death and TPD Assist premiums will increase an average of 26.6%. Those with optional income protection cover will see an increase of 15.1%. For female members, death and TPD premiums will rise by an average 28.2%, and those with ...

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
... coverage. In 2021, over 10,000 death benefit insurance claims totalling $1.4 billion were paid, and more than 19,000 income protection claims were paid. Also, around 16,000 TPD benefit payments were made from superannuation funds amounting to over $2.2 ...

AustralianSuper to decrease premiums

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
... AustralianSuper's insured members will receive a premium reduction across death, total and permanent disability, and some income protection policies from May 27. The weekly cost of death cover will drop by an average of 13%, while the cost of TPD will ...

ClearView enhances ClearChoice products

CASSANDRA BALDINI  |  MONDAY, 27 MAR 2023
... insurance product range, ClearView ClearChoice. Among the changes, ClearView is simplifying product names across the income protection (IP) range to increase clarity for both customers and advisers. Clients on the top level of IP cover will now also ...

Regulators prioritise emerging areas of risk

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
... insurance offerings to members, which is much more user-friendly. She said: "Some also included a death, TPD, and income protection claims guide to help members, that's all good stuff." However, there is still room for improvement. "We do think that ...

Still work to be done on group insurance: ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2023
... enhancing their offerings. Across the funds reviewed, three million accounts had death and TPD cover and 800,000 had income protection cover. Primarily, ASIC looked at whether members were receiving better value from their insurance, whether claims handling ...