Consumer groups join drafting process for life code
21 March 2016
The Financial Services Council has added two consumer groups to its discussions on the life insurance code of practice…
Life Insurance
Life discontinuance rates stay on downward trend
21 March 2016
Individual lump sum life insurance discontinuances have fallen further, reaching an attrition rate of 14% last year, according to new data from research house Dexx&r…
Canstar hails NobleOak and ANZ direct income protection
21 March 2016
NobleOak and ANZ’s direct income protection products have been awarded five stars by consumer ratings group Canstar…
Customers, advisers make most of TAL wellbeing program
21 March 2016
Life insurer TAL says more than 70% of new policies have benefitted from discounts under its wellbeing program, launched in December…
FPA charity bike ride heads west
21 March 2016
The Financial Planning Association’s Future2 foundation will hold its annual cycle fundraiser in WA this year…
FSC recognises life industry achievers
21 March 2016
MLC Chief Underwriter Fiona Guscott won the Financial Services Council’s industry pioneer award at the Annual Life Insurance Awards last week…
ClearView chief slams life insurance code
14 March 2016
The new life insurance code of conduct will not be approved by the Australian Securities and Investments Commission, despite some Financial Services Council members requesting the step…
CommInsure scandal leads to further ASIC scrutiny
14 March 2016
The life industry is facing another Australian Securities and Investments Commission review in light of the CommInsure allegations…
Framework bill is flawed, says leading adviser
14 March 2016
The current Life Insurance Framework Bill is flawed because it doesn’t include the recent changes to the best-interests duty, former Association of Financial Advisers President Michael Nowak says…
Choice backs adviser reform, but demands total commission ban
14 March 2016
Consumer advocate Choice has called for the Life Insurance Framework Bill to pass without alteration, arguing it is “an improvement on the status quo” in life insurance advice…
Removing stamp duty from commission calculations poses problem: AFA
14 March 2016
The Association of Financial Advisers agrees with stamp duty on life insurance policies being included in commission calculations, but says some issues will need to be addressed…
AIOFP slams direct insurers’ payout rates
14 March 2016
Direct life insurers are guaranteeing cover at the point of claim rather than when policies are sold, the Association of Independently Owned Financial Professionals says…
AMP holds lead in retail life premium
14 March 2016
AMP has held its leading position in the individual lump sum and income protection markets despite losing share, according to new life cover premium inflow data from Plan For Life…
Life reforms will drive up costs, deter consumers: NIBA
14 March 2016
Proposed changes to life insurance advice remuneration under the Corporations Amendment Bill may cost consumers, the National Insurance Brokers Association says…
FPA supports life framework legislation
14 March 2016
The Financial Planning Association has backed the proposed Life Insurance Framework legislation…
FSC admits commission-only advisers will find it hard under new rules
14 March 2016
The Financial Services Council says the Life Insurance Framework Bill has been “carefully designed to minimise the impact on small business”…
AFA spruiks advisers’ value in life insurance
14 March 2016
The Association of Financial Advisers has come out in strong defence of the role of advisers in the life insurance market…
ASIC to publish life regulations next month
14 March 2016
The Australian Securities and Investments Commission will release its legal framework for the life insurance industry next month, before it takes effect on July 1…
Milestone for financial planning software provider
14 March 2016
Financial planning software provider AdviserLogic has seen $91 billion of life insurance under advice on its systems during the past decade…
Senate committee adds life industry to advice review
07 March 2016
The Senate has voted to include the life insurance industry in terms of reference for its review of financial advice…