Life insurance gap beginning to close in Australia

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New report from Rice Warner reveals increasing levels of personal insurance Australia’s life insurance gap has reduced over the last six years, according to a new report from Rice Warner Actuaries. As at June 2010, the overall level of underinsurance is $669 bn to meet the subsistence needs of families and dependants after death, which compares […]

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The changing face of the risk environment

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Direct Risk the big winner as industry ‘comes of age’ According to Rice Warner Actuaries’ latest Direct Life Insurance Report, Australia’s direct life market has experienced growth over the past year that has seen it ‘come of age’. The report reveals a dramatically changing landscape that features new, more sophisticated marketing, wider public acceptance, multi-channel […]

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SPAA positive on most FOFA reforms

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SPAA is pleased the Government is considering scaled advice to replace the accountants’ exemption but disappointed risk commissions have been dealt with separately inside and outside of super. The Self Managed Super Fund Professionals’ Association (SPAA) has today welcomed the announcement of the detail of the Federal Government’s Future of Financial Advice (FOFA) reforms which seek to improve the […]

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AIA Australia makes new product enhancements

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In response to adviser feedback, leading independent life insurance specialist, AIA Australia, has launched a suite of innovative product enhancements to its Priority Protection product, as well as a new range of free life support and counselling services for policyholders. Product enhancements include premium discounts for qualifying clients, potential tax benefits and an advanced crisis […]

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CommInsure and Tower share line honours in AFA/Plan For Life 2010 Life Company of the Year Awards

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Two insurers have shared line honours in the prestigious AFA/Plan for Life 2010 Life Company of the Year Awards (the Awards). At the Awards presentation in Sydney today, CommInsure and Tower were both named winners of the Platinum Risk Insurer of the Year Award.  CommInsure also took out the Service Quality and Investment Bond Award […]

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AMP Planner Protection Poll: It’s not just the horses who have blinkers on this spring

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With the Spring Racing Carnival in full swing, AMP research finds Australians still have blinkers on when it comes to the importance of insurance. The AMP Planner Protection Poll found that consumer awareness of the need to protect against trauma and price sensitivity are the two primary issues impacting the uptake of trauma insurance in […]

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New training program to boost AMP’s life insurance capabilities

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AMP today unveiled a new training program to boost specialist expertise in life insurance across the company. AMP, in conjunction with the Australian and New Zealand Institute of Insurance and Finance (The Institute), has developed the Certificate IV in Life Insurance training program. The program is designed to increase knowledge and skills of AMP staff […]

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New report reveals Australians are seriously underinsured

First- time ever figures: Over one in five working age parents will die, become seriously ill or injured, new research shows • Personal underinsurance expected to cost the government $1.3 billion over 10 years • The typical Australian family will lose half (in some cases more) of its income if a parent dies or is […]

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