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Life Insurance

Bill could cost 1.6 million their life cover

28 October 2019

About 1.6 million people are likely to lose life cover by 2021 because of the Putting Members’ Interests First bill, which makes insurance opt-in for low-balance super accounts and young members...

Adviser groups lash 'confusing' FASEA ethics code

28 October 2019

Both the Association of Financial Advisers and the Financial Planning Association say the ethics guidance produced by the Financial Adviser Standards and Ethics Authority is confusing and out of touch with current laws...

Call to ban approved product lists

28 October 2019

Life insurance approved product lists should be banned by the regulator, according to a new paper commissioned by ClearView...

TAL launches online claims hub

28 October 2019

TAL has launched a digital claims platform to support and educate policyholders through a claims process. It will complement the TAL claims team...

Fidelity profits down in claims rise

28 October 2019

The underlying profit of New Zealand insurer Fidelity Life has fallen to $NZ13.6 million from $NZ19.2 million last year, amid a multi-million dollar increase in net claims...

ClearView fills senior ranks

28 October 2019

ClearView has appointed Judilyn Beaumont to the dual role of General Counsel and Company Secretary...

TPD cover 'is essentially junk insurance'

21 October 2019

A scathing report into Total and Permanent Disability insurance has found the sector riddled with industry-wide problems in design and claims-handling processes that have left it little better than junk insurance...

ASIC chases information on grandfathering

21 October 2019

The Australian Securities and Investments Commission is asking product providers for information about their grandfathered commissions arrangements in the lead up to the ban in January 2021...

Relief: regulator defers advisers’ compliance obligations

21 October 2019

The Australian Securities and Investments Commission will provide regulatory relief for advisers from current compliance scheme obligations, following the Government decision to establish a single disciplinary body for the sector...

Challenger still fighting domestic annuities slump

21 October 2019

Challenger’s total life net flows have jumped $766 million over the first quarter of the financial year, thanks to a strong performance in Japanese annuities and other life sales. The overseas performance contributed 5.2% growth to their life book, offsetting disappointing results at home...

MetLife staff take the oath

21 October 2019

More than 40% of MetLife staff have taken the Banking and Finance Oath to help rebuild the industry’s reputation, the insurer says...

AFA life awards coming up

21 October 2019

The Association of Financial Advisers will present its annual Life Company of the Year and Consumer Choice Awards next month...

FPA names finalists for awards

21 October 2019

The Financial Planning Association has named finalists across six different categories for its annual FPA Awards...

Industry hits out at Canberra over new disciplinary body

14 October 2019

The Government’s decision to set up a disciplinary system for financial advisers appears to have blindsided the industry, which had been preparing for the launch of its own monitoring scheme on January 1...

ASIC expects to release TPD findings this month

14 October 2019

The Australian Securities and Investments Commission expects to release this month its findings on the industry’s handling of total and permanent disability claims, a spokesman told insuranceNEWS.com.au today...

ASIC bans adviser for 7 years

14 October 2019

The Australian Securities and Investments Commission has banned a Queensland-based financial adviser for seven years for inappropriate insurance advice...