Category | Superannuation

ASIC Bans Adviser Over False Insurance Information

ASIC has banned a former Guardian FP adviser for seven years after he provided false information on insurance application forms sent to superannuation funds. (more…)

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0 · June 23, 2017 in Compliance & Regulation, Remuneration, Superannuation  

MetLife Campaigns to Lift Profile of Group Life

MetLife Australia will promote the benefits of group insurance inside superannuation and is seeking assistance from superannuation fund trustees to join its awareness campaign. (more…)

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0 · May 30, 2017 in Company News, Products, Superannuation  

Group Life Sector Pushes for Better Data Reporting

Industry bodies representing the group superannuation sector, including the FSC, have released guidance to their members on how to collect group insurance data claiming it would improve the pricing and sustainability of the group life market. (more…)

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0 · March 14, 2017 in Associations, Superannuation  

NAB Super Trustee Hit Over Insurance Advice Fees

ASIC has taken action against the superannuation trustee of NAB – NULIS Nominees – after it made changes to death and TPD insurances which resulted in 220,000 customers being charged advice fees without receiving advice. (more…)

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0 · February 2, 2017 in Claims, Company News, Products, Superannuation  

Future of Lump Sum TPD Under a Cloud

The viability of lump sum TPD payments from group life insurance is under review with questions raised around the adequacy of the payments and their usefulness to claimants, consultancy group Rice Warner has claimed. (more…)

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2 · January 13, 2017 in Claims, General, Superannuation  
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TPD Claims Review Finds No Problems at BTFG

BT Financial Group (BTFG) has reported that an external review of 141 denied Total and Permanent Disability (TPD) claims has found the group acted appropriately and no claim had been incorrectly denied. (more…)

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0 · January 9, 2017 in Claims, Company News, Compliance & Regulation, Products, Superannuation  

Group Life Profitability Hampered by Bad Press

The group insurance market has returned to profitability but recovery is being hampered by efforts to repair problems areas in the sector, according to an assessment released by risk management consultants Marsh. (more…)

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0 · December 9, 2016 in Superannuation  

Small Business Owners Unprepared for Income Loss

Less than 20% of small and medium enterprise (SME) owners have sufficient insurance and financial planning strategies in place to fund their livelihood and living expenses for longer than a week in the event of their unplanned absence. (more…)

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0 · November 21, 2016 in General, Remuneration, Services, Superannuation  

AIA Enhances Online Claims for Super Fund Members

AIA has enhanced its online claims functionality in an effort to reduce delays around the assessment of claims made by employees covered by group life policies. (more…)

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0 · November 11, 2016 in Claims, Company News, Superannuation  

Group Income Protection Potentially a Second-Rate Product

Income protection insurance offered within a group life scheme runs the risk of being a second-rate product due to inadequate lengths and levels of cover, according to research group Rice Warner. (more…)

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3 · November 8, 2016 in Products, Superannuation