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Reprice Group Life Based on Dependents – Rice Warner

Group life insurance should be repriced to take into consideration the financial needs of members instead of being based on default sums, according to industry consultant group Rice Warner. (more…)

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2 · August 15, 2017 in Products, Superannuation  
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AIA Makes Changes to Premium Rates

AIA Australia has introduced a large sum insured discount and reduced premiums on some policies for new business written under its Priority Protection and Priority Protection for Platform Investors (PPPI) products. (more…)

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5 · August 7, 2017 in Company News, Products  

PPS Mutual Increases Benefits Indexation

Mutual life insurance group PPS Mutual has indexed its policy benefits at three times the level of inflation stating this position was more consistent with the salary growth of the professional services sector that it covers. (more…)

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1 · August 4, 2017 in Company News, Products  
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Leave SoA Commission Details Alone – AFA

The AFA has recommended that life insurance commissions should not be displayed at the start of Statements of Advice (SoA) stating that to do so would present them out of context to the advice being provided. (more…)

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20 · August 1, 2017 in Compliance & Regulation, Products, Remuneration  

News in Brief

Evalesco Shifts Licensee AIA Australia Health Insurance Brand Open for Business ASIC Accepts Enforceable Undertaking from Findex (more…)

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0 · August 1, 2017 in Compliance & Regulation, Dealer Groups, Products  

Government to Simplify Group Life Opt-Out

The Federal Government will ease the process for consumers to opt out of group life insurance schemes with the current arrangements being labelled ‘ridiculous’ by the Minister for Revenue and Financial Services, Kelly O’Dwyer. (more…)

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0 · July 24, 2017 in Products, Superannuation  
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OneCare Launches Real Time Pre-Assessment Tool

ANZ Wealth has launched a life insurance pre-assessment tool for its OneCare range of products that will identify loading and exclusions for a range of pre-existing medical conditions. (more…)

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0 · July 17, 2017 in Company News, Products, Technology  
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Inflows Remain Steady But Sales Flatten

Overall life insurance risk premium inflows have continued to grow modestly at just over 2% for the year to the end of March but overall risk sales have declined after a heavy fall in group risk business, according to according to data released by Strategic Insight. (more…)

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0 · July 10, 2017 in Products  

Emerging Markets Driving Global Insurance Growth

Global growth in life insurance premiums has continued to grow during 2016 but slowed compared to the previous year due to slower growth in advanced and developing economies, according to a report from reinsurer, Swiss Re. (more…)

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0 · July 7, 2017 in General, Products  

ANZ Wealth Videos Aim to Simplify Insurance for Clients

ANZ Wealth has released a series of educational videos for use by customers of advisers that are designed to help them better understand their insurance cover. (more…)

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4 · June 27, 2017 in Products, Soft Skills, Superannuation, Training