After changes made in March and May, MLC Insurance of the National Australia Bank has made more changes in its offerings and has introduced RiskFirst Rapid. The product aims to… – Address needs for further income protection premium savings – Allow quick coverage On top of this, an additional 20% savings on…
Dennis Jones CFP, the Principal of Beacon Wealth and Christopher Cachia CFP, the Principal of CCA Financial Planners (CCA Fp) have been friends and work colleagues since 1996. Dennis and Chris have attended many conferences and technical workshops together over the last twelve years and in February this year completed the Stanford University Leadership…
The last quarter of 2012 financial year saw a great number of life insurance complaints filed at the Superannuation Complaints Tribunal. Telephone complaints coming from fund members totaled 2809 while the number of written complaints reached 627. Summary of complaints with decisions by both fund trustees and insurers upheld by the SCT: In…
At the Association of Super Funds of Australia event, Deputy Chair Ross Jones acknowledged that APRA’s initial position that restricts benefits offered to coverage acquired through life insurance was stiff. When selecting an insurer, licensees were asked to check not only insurance level premiums but all insurance arrangements aspects prior to selecting an insurer. The…
During Sydney’s AIA Australian Group Insurance Summit, result of polled 32 executives from 26 retail and industry funds and related consultancies was disclosed. It showed that over 50% of Australian superannuation funds will offer default income protection for MySuper. Representatives from BT Financial Group, REST Industry Super, Rice Warner Actuaries and Chant West responded differently…
AIA Australia said a poll result showed slow adoption of life insurance within self-managed super fund. The survey of over 400 financial advisers that included accountants, brokers and advisers said SMSF trustees’ “knowledge gap on life insurance” was the reason. About 45% of respondents said less number of clients had life insurance within SMSF and…
