Category | Products

New Life Insurance Sales Buck Two Year Downward Trend

Sales of individual Death, TPD and Trauma insurance have bucked a long-running trend of decreases with an increase 2.2% per annum for the year to the end of March 2017, according to the latest Life Analysis Report released by DEXX&R. (more…)

Continue Reading
0 · June 23, 2017 in Products  
iStock-153766099

Vertically Integrated Insurers Overlooking Policy Holders

The mutual life insurance model will continue to attract interest from advisers and consumers who feel they are being overlooked by listed insurers who are more focused on shareholders, the head of PPS Mutual has claimed. (more…)

Continue Reading
0 · June 20, 2017 in General, Products  
iStock-466423096

APL Fees Paid by Insurers are ‘Modest’

Life insurers are paying up to $200 per adviser per annum to provide education and training on products on a licensee’s approved product list (APL), with this figure being described as ‘modest’ by Zurich Financial Services. (more…)

Continue Reading
1 · June 16, 2017 in Dealer Groups, Products  

Life Insurance Should Play Greater Role in Protecting Retirees

The life insurance sector can increase its role in protecting the savings of older and retired people smoothing the decumulation phase and providing care and support for unexpected health shocks, according to a report from a major reinsurer. (more…)

Continue Reading
1 · June 13, 2017 in Products  
iStock-531686850

Advisers to Receive Fees for myOwn Health Insurance Referrals

AIA Australia has revealed further details of its private health insurance product roll-out including a 20 percent referral fee for advisers whose clients go on to purchase the product . (more…)

Continue Reading
0 · June 8, 2017 in Company News, Products, Remuneration  
iStock-176816093

Annual Life Insurance Claims Pass $9 Billion for First Time

The life insurance sector has continued to reach record levels of claims being paid with new data revealing claims payments during 2016 passed the $9 billion mark for the first time. (more…)

Continue Reading
7 · June 6, 2017 in Claims, Products  
iStock-498048538

Insurance Comparison Websites Offering Inadequate Advice

Life insurance price comparison websites (PCWs) are providing inadequate information to consumers and often promote price over features, according to research and consultancy group Rice Warner. (more…)

Continue Reading
4 · June 6, 2017 in Products, Services  
iStock-543081358

AMP Releases Enhancements to Elevate

AMP has announced a number of enhancements to its Elevate product including using superannuation to pay for income protection plans and allowing policy holders to buy back into a life policy up to a year after a claim. (more…)

Continue Reading
0 · June 6, 2017 in Products  

ASIC Releases Commission and Clawback Instrument

ASIC has released the regulatory instrument which will set the commission caps and claw-back arrangements under the Life Insurance Framework (LIF) reforms. (more…)

Continue Reading
0 · June 5, 2017 in Claims, Compliance & Regulation, Products, Remuneration  

ASIC Releases New Sample SoA for Life Insurance

ASIC has released a new sample Statement of Advice (SoA) for life insurance which highlights prominent and upfront disclosure of commissions while omitting a range of disclaimers and warnings. (more…)

Continue Reading
3 · May 31, 2017 in Compliance & Regulation, Products, Remuneration