Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 912 results for "Premiums"

TAL, AIA dominate group life market

ANDREW MCKEAN  |  WEDNESDAY, 19 APR 2023
... Australia. TAL leads the life insurance market, boasting a 40.4% market share, insuring 3.9 million lives with annual premiums totalling $830 million. The sum insured under TAL policies is $843 billion. AIA boasts a 29.5% market share, providing life ...

AIA launches retail rewards program

KARREN VERGARA  |  TUESDAY, 18 APR 2023
... part of AIA Vitality to be eligible for the incentive. Eligible customers will be rewarded a 2.5% discount on lump sum premiums for the life of the policy and a discount of up to 17% on some bundled products. Healthier Life Reward forms part of AIA's ...

AustralianSuper to decrease premiums

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
... protection cover, those with a benefit payment period of up to two years and a 60-day waiting period will see their weekly premiums drop by 12%, on average. However, most members with a benefit payment period of up to two years and a 30-day waiting period ...

BT to wind up Retirement Wrap

JAMIE WILLIAMSON  |  FRIDAY, 24 MAR 2023
... added. Asgard Independence Plan Division Two was the subject of Federal Court proceedings brought by ASIC over insurance premiums that were charged to close to 10,000 members, through to 2020. The issue was the premiums included commissions which were ...

Virgin Money Super ups premiums

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2023
Virgin Money Super is increasing insurance premiums on death and TPD cover from April 22. Members have been notified that premium rates per week, per unit of death only cover will increase from $0.41 to $0.55. For death and TPD will increase from $0.67 ...

New relief for reissued life policies

KARREN VERGARA  |  MONDAY, 20 MAR 2023
... issued before 5 October 2021. Insurers also reissue policies to reinstate a policy that has lapsed for the non-payment of premiums (a common and standard industry practice) or to fix administrative errors. ASIC said the relief will reduce the regulatory ...

ASIC bans Queensland adviser

ANDREW MCKEAN  |  WEDNESDAY, 15 MAR 2023
... comparison tables that were false or misleading. He understated the potential insurance costs despite knowing the insurance premiums would likely be higher once insurance advice was provided. Allen was self-licensed under Global Pacific Solutions Group ...

Rising interest rates tank life insurer performance

KARREN VERGARA  |  WEDNESDAY, 15 MAR 2023
... individual risk income increased 5% year on year to $3.2 billion. Any additional revenue life insurers earn from investing premiums in fixed interest have been wiped out as a result of rising interest rates. According to ARPA, the industry made a loss ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... Abood said. "This is a significant impost on advisers who already face increased costs from the unfrozen ASIC levy, PI premiums and the increased costs all businesses are facing in the current high inflation environment." As previously reported by Financial ...

Advice complaints decelerate: AFCA

KARREN VERGARA  |  WEDNESDAY, 8 MAR 2023
... and over insurance. "[Our] insurance area also raised concerns about people's understanding of, for example, level premiums, how they operate and how they go up. Sometimes that sort of dispute might be against both the insurer and the adviser themselves," ...