Universal Proposal Forms? Poll
Our latest poll stems from key issues discussed at the recent AIA Australia Round Table in relation to the myriad of red tape, roadblocks and inefficiencies preventing advisers and advice practices from growing more...
Thousands of Advisers Urged to Check Their FAR Listing
More than 3,000 advisers have yet to confirm they meet the qualifications standard to continue offering personal advice to retail clients in the new year.
This week ASIC urged all advisers to check the accuracy...
Insurance Activation Error Costs Rest $37,000
Retail Employees Superannuation Pty Ltd (Rest) has paid more than $37,000 to ASIC after the firm inadvertently activated insurance cover for more than 2,000 members.
From June 2024 to January 2025, Rest issued annual statements...
AFS Licence Cancelled
ASIC has cancelled the AFS licence of Lief Pty Ltd for failing to hold AFCA membership as required by law.
ASIC also found the Queensland-based firm failed to comply with its financial reporting obligations and...
Resolution Life Launches Cover Adjustment Tool
In a move designed to facilitate the management of in-force policies, Resolution Life Australia has introduced two new initiatives to give customers flexibility in altering their insurance cover.
The insurer, which predominantly operates a sinking-lid...
‘Mix ‘n’ Match’ TPD Option from Acenda
TPD Severity is a new add-on from Acenda that allows advisers to tailor their clients' existing TPD policy to suit their needs. The option uses established medical impairment benchmarks to assess the degree and...
Push for New Class of Adviser
Life insurers should be able to give policyholders quicker, simpler service on basic life-insurance matters. That was the general consensus of panellists taking part in the recent AIA Australia Round Table, who also agreed...
TPD Payments Designed for Life, Gone in Three Years
Almost two-thirds of people who received a lump-sum TPD payment – that was designed to support them for life – spent it within three years. The finding was highlighted by Acenda’s Partner Education Manager...
Encompass Updates Product Offer
A range of updates and changes have been made to Encompass Protection range, covering life, TPD, IP, and critical illness.
Among the changes, which took effect from 26 September, are that the firm’s maximum sum...
Consultation Opens on Genetic Testing Legislation
Draft legislation to ban the use of adverse genetic test results in life insurance underwriting has been released for consultation.
Minister for Financial Services, Daniel Mulino, says publication follows consultation with community members, medical practitioners...