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Showing 81 - 90 of 519 results for "Income Protection"

MLC Life Insurance raises $650 million

KANIKA SOOD  |  WEDNESDAY, 6 JAN 2021
... of the insurer. The $120 million debt was subscribed to by Nippon alone. "The increase in claims payments of income protection products and others is an industry-wide challenge in Australia. As such, MLC Life has been working to raise premiums and promote ...

AIA to launch income protection product

KARREN VERGARA  |  WEDNESDAY, 16 DEC 2020
AIA Australia is launching a more affordable, simplistic income protection product in early 2021. IP CORE pays a monthly benefit for total or partial disability as a result of injury or sickness that satisfies a material and substantial duties definition. ...

Retail fund ups premiums

ELIZABETH MCARTHUR  |  TUESDAY, 15 DEC 2020
A retail superannuation fund will increase premiums on income protection policies from 2021. Living Super, ING's super offering, will up income protection premiums by 23% from 8 January 2021. "Our focus is to provide a great value product with competitive ...

PPS Mutual transforms underwriting process

ANNABELLE DICKSON  |  TUESDAY, 8 DEC 2020
... mutual insurer has removed the "quick check medical requirement" for prospective members under 35 who are seeking income protection of $15,000 per month. Members of all ages are no longer required to test for Hepatitis B, Hepatitis C and HIV when applying ...

Underinsurance gap worsens: Research

KARREN VERGARA  |  FRIDAY, 20 NOV 2020
... end of 2018. "Although we will see product innovation as insurers respond to APRA's intervention on retail income protection products, it will be challenging to completely reverse this trend," the report read. Rice Warner recommends the life insurance ...

Industry fund names new group insurer

JAMIE WILLIAMSON  |  THURSDAY, 19 NOV 2020
... decrease. There will be different amounts of default death and TPD cover for members under 25 years of age, and income protection (IP) will better align with member salaries - the value of IP units will change to cover a salary of up to $1000 per unit. ...

Super fund increases premiums

KARREN VERGARA  |  WEDNESDAY, 18 NOV 2020
... is changing the cost of insurance across the board at the turn of the New Year. Most QSuper members will see income protection cover go up 31%, while death and total and permanent disability (TPD) cover will increase between 40-45% from 1 January 2021. ...

Club Plus announces insurance changes

ELIZABETH MCARTHUR  |  MONDAY, 16 NOV 2020
... insurer OnePath. From 1 January 2021, members will see premiums on death, total and permanent disability and income protection cover reduce. Club Plus is also removing the insurance administration charge for insured members. The reductions are different ...

Sunsuper ups TPD premiums

KARREN VERGARA  |  WEDNESDAY, 11 NOV 2020
... get insurance. Many members will also see premium reductions, especially for death cover and, in some cases, income protection cover, chief financial officer Jason Sommer said. "As a profit-for-members fund, we only increase insurance premiums as a last ...

Insurers must shape up on mental health: TAL

ELIZABETH MCARTHUR  |  THURSDAY, 5 NOV 2020
... types. For TPD the average amount paid for mental health claims is almost 65% higher than the other claim. In income protection, mental health claims are 70% larger than other claim types. The higher claims cost could be due to differences in occupation ...