Australians are grossly underinsured for income protection, sparking a $304 billion insurance gap that could leave tens of thousands of people in a lurch if they suffered permanent disablement.
The New South Wales Supreme Court has upheld an insurer’s decision to decline a TPD claim because the claimant was capable of working in an alternative occupation.
Ever been awoken by these words or shouted them at a bed partner? Whether or not we realise it, most people snore at some point. But sometimes it’s more than a night-time nuisance to forget the morning after and requires medical investigation. In fact, chronic snoring may be associated with a sleep-related breathing disorder, such as sleep apnoea.
Life insurers have employed a specialist financial services consultant to examine the industry’s outlook as it faces the dual blow of a surge in claims and an increase in the number of consumers cancelling policies.
While insurance is traditionally a very difficult area to price, more and more
firms are starting to implement a fee-based offer
"At the beginning of October the life insurance industry witnessed the release by ASIC of a damning report into the provision of retail life insurance advice. But there's more to the report than the headlined bad news. Riskinfo's Senior Journalist, Emily Saint-Smith, takes a deeper look into ASIC's insurance investigation and the learnings for the industry…"
"The cost of private health insurance keeps going up, with the federal government approving an average price rise of 6.2 per cent for private health cover from this month, on the back of a 5.6 per cent rise in 2013."
"We like to gather updated information at regular intervals to ensure we are in touch with what’s current within the industry. So much has changed in the advice landscape since 2012, and it’s been interesting to review and update how advisers are now pricing their advice."
"It's important to fully appreciate the pros and cons of using a fund as the vehicle holding life insurances before deciding how best to structure them for individual circumstance."
"A widow and her two young sons are suing a building company for compensation after a four-metre wall collapsed and killed a tradesman on a Melbourne worksite."
"The first (larger) number indicates the pressure in the arteries as the heart squeezes out blood during each beat. It is called the systolic blood pressure."
"Life insurance payouts at TAL increased by 12.3% to $948 million during 2014."
"Litigious lawyers are being blamed for a big round of premium increases that are almost doubling the cost of life insurance, disability cover and income protection policies for millions of members of superannuation schemes."
"Have you ever stopped to think what would happen to your family if you were to pass away unexpectedly?"
The Abbott government and the $44 billion life insurance industry are on the cusp of announcing a significant agreement to overhaul a sector riddled with conflicts of interest.