AIA Life announces the following range of updates to help clients purchase insurance within super. Purchasing income protection insurance is made easy through appropriate cover level payments through superannuation. This means greater insurance purchase flexibility for clients. Self-employed individuals representing the biggest percentage in growth opportunity will benefit. Employees without employer superannuation support need no…
Elevate insurance enhancements offer flexible and accessible insurance solutions. Flexibility and accessibility are two important factors that make life insurance solutions work and this is what is made available to our clients through enhanced insurance solutions. Mining Industry – Income protection – Extended benefit period for certain mining jobs – Increased maximum monthly benefit amount…
The following are the changes in the Federal Budget as announced last week. We see these changes in the concessional super contributions caps and contribution taxes likely to affect some of our clients. Higher contributions tax for very high income earners The tax concession on contributions of earners of over $300,000 will go down from…
Asteron Life Complete Income Protection Plus was recently awarded a perfect score of 100 by IRESS, the only product in the market to receive such a high rating. A number of factors contributed to this score, including the flexibility of Asteron Life’s income protection products and a few additional features and benefits that set them…
A draft version of the latest guidelines for MySuper legislation was released this week. The guidelines detail recommendations for a number of aspects of insurance and intra-fund advice, including clarification of commissions and payments for advisors, particularly in the field of group insurance. In the area of insurance, according to the new guidelines, MySuper trustees…
The number of Australians with life insurance coverage through superannuation has increased while there was a drop for the same number of people with stand-alone coverage, potentially worsening the insurance gap. In 2006, the Financial Services Council said a similar study showed an increase in the number of Australians with superannuation life insurance coverage from…
