Demand is increasing for simple trauma products with cheaper premiums, Fidelity Life boss Milton Jennings says.
Premiums have increased as claims soared and insurers face larger tax bills.
Policy definitions have widened, leading to significant claims payouts for trauma and income protection policies. Grandfathering provisions on income tax for life insurers run out at the end of June this year.
“It will be challenging to get premium increases through to cover that tax increase,” Jennings said...MORE»
Thursday, January 15th, 6:00AM
An independent body similar to the Commission for Financial Capability should be set up to address health funding issues, the Health Funds Association says.MORE»
Monday, January 5th, 6:00AM
New solvency standards for life insurance business will make things tougher for those that rely on reinsurance to write new business.MORE»
Desperation likely drives advisers to commit tombstoning fraud, Partners Life boss Naomi Ballantyne says.MORE»
There are claims that changing commission models will not address concerns about churn on either side of the Tasman.MORE»
The man behind the merger of Guardian Trust and Perpetual Trust is causing waves in Australia with a site that pays commissions to customers rather than advisers, and essentially encourages churn.MORE»
OnePath Life has introduced two new income protection covers and a new redundancy cover to meet adviser and consumer demand.MORE»