Income protection is important but where is the policy best held – inside or outside superannuation? The answer depends on several factors such as the needs of each individual. Note that in an income protection… Cover structures inside or outside super are with tax deductibility benefits. Inside or outside super, taxes are applied on…
Research house Dexx&r’s financial year report data for 2012 showed growth in life insurance premiums. The report showed an increase of 37.6% to $2.64 billion for new annual premiums for the year. Other growth reports are as follow: Group life insurance rose up to 96% on last year to $1 billion, the biggest…
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…
