Justin Delaney

Zurich Financial Services Australia (Zurich) has hosted its fourth bi-annual Mental Health Roundtable, attended by key clinical and civil society representatives to discuss trends surrounding mental health diagnosis, treatment and resilience, including the evolving role of life insurance. 

Attendees were presented with new Zurich analysis which quantifies the projected rise and impact of mental health conditions in six countries, including Australia, by 2030.

An in-depth discussion was then facilitated to explore principles and ideas for the reform of disability insurance products, with a view to specifically address current design limitations and unintended consequences for those with mental health conditions.

Justin Delaney, Chief Executive Officer, Zurich said: “After the government, life insurance is the largest financial safety net for Australians with mental health conditions. Our data shows that prevalence is rising, which is putting significant pressure on individuals and their quality of life, informal and formal support networks, and the broader economy.”

“Disability insurance products are an important part of this financial safety net, however, the suitability of these products for people with mental health conditions has become increasingly challenging.”

“As we seek to innovate these products, we recognise the importance of doing so collaboratively. Our recent Roundtable was a great opportunity to collectively explore product re-design possibilities, and understand how any proposed changes could integrate with, or impact, other parts of the mental health ecosystem,” Mr Delaney said. 

Jennifer Keyes, Head of Product Innovation and Mental Fitness Impact, Gotcha4Life said: “Discussions like these are important because they help ensure the needs of people experiencing mental health challenges remain at the centre of any service design or decision-making, and that those decisions are informed by expertise and perspectives from across the mental health ecosystem.”

Michael Marthick, Director of Insurance, Spectrum.Life ANZ said: “Disability insurance has a unique reach into the lives of Australians experiencing mental health conditions. Used well, that’s a platform for genuine support – not just financial protection. Roundtables like this are how we move from good intentions to practical reform.”

Catherine Day, Advisor, It Pays to Care said: “Thank you to Zurich for opening up an important discussion about mental health challenges in Australia through the Roundtable discussion. It provided a valuable opportunity for a diverse group of people to challenge the status quo, share perspectives, and explore new approaches.”

Since its last Mental Health Roundtable in November 2025, Zurich has:

• Introduced a new social support rehab program for claimants who are vulnerable or have a mental health condition;
• Commenced a pilot using a leading mental health telemedicine provider to improve efficiency and specialist access for claimants requiring a psychiatric opinion; and
• Committed to a chronic pain management program pilot which addresses mental health as a pain modifier.

The fourth Zurich Mental Health Roundtable, held in May 2026, was attended by representatives from the Royal Australian and New Zealand College of Psychiatrists, Lifeline Australia, SANE Australia, Gotcha4Life, This Way Up, Bupa, Spectrum.Life and It Pays to Care.

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L to R: Rob Vitnell, Daniel Musumeci, Damien Jones

Australian Financial Risk Management (AFRM), a specialist risk-only life insurance advice firm, has reached the milestone of managing over $400 million in life insurance claims paid to clients. The achievement comes from their scale and expertise in risk, built from almost 30 years in business.

Rob Vitnell, Managing Director and Adviser, said: “This milestone is a reminder of the many families we’ve supported when they needed it most. In their darkest times, we’ve been there to help navigate the complexities of life insurance. Our scale and expertise in life insurance is unique as it is our sole focus.”

Daniel Musumeci, Executive Director and Senior Adviser, added: “Risk advice works best when we collaborate with referral partners, particularly financial planners. Outsourcing allows our partners to focus on what they do best, whilst clients receive the best outcomes delivered by a team of specialists.”

Latest figures from the Council of Australian Life Insurers (CALI) noted only 185 risk only advisers across Australia, underscoring the lack of experts in the industry.

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Thomas Lillelund

Despite seeming predictable in hindsight, Black Swans are unexpected or unforeseen events that are highly disruptive and economically damaging. Examples include the 9/11 attacks of 2001 in the US, the 2008 global financial crisis, and the Covid-19 pandemic. Allianz Research estimates cumulative global GDP losses from the pandemic between 2020 and 2023 to be in the region of US$12trn.In addition to the huge financial and business costs, such events typically have long-lasting implications, resulting in geopolitical and societal shifts that continue many years after the initial event.

According to new Allianz Risk Barometer analysis, more than half of the 3,000+ respondents (51%) identify a global supply chain paralysis due to a geopolitical conflict as the most plausible Black Swan scenario globally which could impact their company in the next five years. Fear of a global internet outage ranks second (47%) which reflects the increasing awareness of cyber and artificial intelligence (AI) risks among business leaders.

Respondents in Asia Pacific also identified a global supply chain paralysis and global internet outrage as the two most plausible Black Swan scenarios; the former is ranked first in China and Hong Kong, Singapore, and South Korea, while the latter is ranked first in Australia, India, Japan, Malaysia, and Thailand.

Allianz Commercial CEO Thomas Lillelund comments: “Although Black Swan events are not seen to be immediately likely, these rare, high-impact scenarios are perceived as increasingly plausible and should be considered by executive boards given their potential consequences. Growing interconnectivity across both physical and digital supply chains means disruptions now cascade much faster and can turn into major losses. In today’s fragmented geopolitical environment, companies must double down on resilience and integrated risk management to ride out the next perfect storm.”

Geopolitics is a key driver for Black Swans
Given the current geopolitical environment, it is no surprise that supply chain paralysis resulting from a geopolitical conflict is regarded as the most plausible Black Swan scenario. The threats of tariffs, trade wars and protectionism, as well as disruption to supply chains and shipping caused by regional conflicts in the Middle East and Russia / Ukraine are at the top of every board agenda. Allianz Research estimates that cumulative GDP losses over a two-year horizon triggered by a global supply chain disruption on the scale of the war in Ukraine could total US$1.5trn. In fact, political-related risks stand out as a leading potential trigger for Black Swan events, according to respondents. Mass social unrest and political instability is regarded as the fourth most plausible scenario globally (29%) and is a top three risk in the Americas (31%) and Africa and the Middle East (41%) regions, as well as in France (42%), for example. A sudden collapse of a major financial institution or a sovereign debt crisis, leading to a global liquidity crisis and severe market volatility ranks third (30%).

Interconnectivity and interdependency of both physical and digital supply chains are potentially increasing vulnerability at a time of geopolitical uncertainty, rapid advances in technology, and climate change. Businesses and global supply chains are also more vulnerable to Black Swan events due to growing concentrations of economic activity reliant on a limited number of critical suppliers and products in areas like AI and digital services, semiconductors, rare earth processors and transition technologies.

Company size influences risk perception
Global supply chain paralysis due to a geopolitical conflict halting the movement of goods and raw materials ranks top for both large (>US$500mn annual revenue, 55% of responses) and mid-sized companies (US$100mn+ to US$500mn, 52%). In contrast, smaller companies (<USS$100mn) are most concerned about the impact of a global internet outage (45%), which is the #2 scenario for larger and mid-sized businesses. The third most plausible Black Swan for mid-sized and smaller companies is the sudden collapse of a major financial institution, while larger companies are more concerned about the risk of simultaneous climate disaster and energy grid failure, such as a heatwave triggering wildfires and widespread blackouts. Multinational enterprises have the advantages of bigger budgets and more diversified portfolios and therefore feel they are better prepared to mitigate the risks of an event such as a major internet outage than their smaller and medium-sized counterparts.

“Awareness of Black Swans and the need to build resilience has increased in recent years, but businesses can never fully prepare for rare high impact events such as a global outage or an unforeseen climate-related catastrophe. Building organizational agility, fostering a risk-aware culture and developing scalable response plans for a range of scenarios remain the most practical steps to best prepare for Black Swan events. Insurers can play a critical role in helping businesses strengthen their resilience in areas such as cyber risk and support more informed decisions when assessing and selecting critical suppliers,” says Michael Bruch, Global Head of Risk Consulting Advisory Services, Allianz Commercial.

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Gavin Teichner

TAL has updated its flagship retail product, Accelerated Protection, including the launch of the TPD Support Option, a new approach in the Australian life insurance market. The insurer has also strengthened Income Protection for self-employed customers, delivering added support during a claim.  

Gavin Teichner, TAL Chief Executive – Individual Life, said the changes reflected TAL’s commitment to evolving product design in line with changing customer needs, clinical insights and financial adviser feedback.

“Our focus is on ensuring TAL’s products reflect how Australians live and work today and deliver genuine value. We’ve taken an evidence-based approach with these changes to Accelerated Protection to ensure meaningful support for those who need it, while maintaining value for all our customers.”

Introducing TAL’s TPD Support Option, designed around real customer health journeys

TAL recognises that every customer’s recovery is unique. Developed through extensive research and consultation with customers, advisers, GPs and specialist clinicians, the TPD Support Option has been designed specifically for certain mental health, chronic fatigue and functional conditions where recovery outcomes can vary significantly.

Customers who choose this option receive 20% of their sum insured each year for claims involving these conditions, provided they continue to meet the TPD criteria at annual review. This flexible structure provides ongoing financial support during recovery, with the certainty that if they’re unable to return to work, they’ll receive their full sum insured over time. Claims for all other health conditions are paid as a full lump sum.

During their claim, customers can also access tailored health programs through TAL Health for Life to support their recovery.

“The TPD Support Option recognises that recovery is rarely straightforward. Some people can return to work with the right support and treatment, while others, unfortunately, cannot. Its flexible approach helps people through their recovery journey while maintaining strong financial protection for those permanently unable to work,” said Mr Teichner.

Supporting self-employed customers when an illness or injury affects their work

Recognising that self-employed Australians face unique challenges when they can’t work, TAL has introduced two improvements to Income Protection to better support business continuity during illness or injury. Key updates include redesigned offsets for ongoing income, and updated waiting period rules that allow customers to undertake limited administrative tasks during the waiting period without affecting their eligibility.

These changes reflect the realities of business ownership, giving self-employed customers greater confidence that their cover will support them through recovery and help to keep their business running.

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Despite the challenges, this remains a profession defined by purpose, resilience and an enduring commitment to clients

The irony isn’t lost on anyone. The people who help Australians prepare for life’s worst shocks are themselves battling to survive.

Between rising levies, endless paperwork, and fewer peers to share the load, many risk advisers are wondering if the profession they’ve built their lives around still has a future.

And that matters – because when life throws its worst at people, through illness, injury, or loss of income, good advice can be the difference between resilience and ruin. The FAAA Value of Advice Index 2025^[1] proves it: 96% of advised Australians felt more confident through turbulent times thanks to their adviser.

That’s why, despite the pressure, there still lies a chance to rebuild – to design a system that rewards integrity, supports sustainability and still protects the clients who rely on advice when life goes sideways. Because, without a strong, sustainable risk-advice profession, that consumer safety net frays. The challenge, and opportunity, is to rebalance the system, so advisers can run viable businesses and keep doing what they do best – ensuring Australians are supported when life doesn’t go to plan.

Getting the balance right on regulation

Reform has done a lot to rebuild trust in financial advice – and rightly so. But for many risk advisers, the economic fallout of that progress hasn’t been shared evenly.

Smaller, risk-focused practices often face the same levies as large, diversified firms. A one-size-fits-all approach sounds simple on paper but drives up costs, squeezes margins, and makes advice less accessible for clients who need it most, while forcing already-stretched businesses to absorb the impact.

The two key levies – ASIC and the Compensation Scheme of Last Resort (CSLR) – illustrate the challenge. The ASIC levy has more than doubled^[2] from around $900 to $2,300 per adviser. The new CSLR levy has grown from $20 million in its first year to $67 million this year^[3], with further increases projected as investment-related claims rise. These costs are shared across all advisers, even though most compensation claims stem from investment products rather than life-insurance advice.

The intent behind both levies is sound: maintain consumer confidence and protect clients from misconduct. The opportunity now is to make them more proportionate. Tailored levies and streamlined compliance could support a fairer model, recognising the lower risk profile of pure risk advisers. That kind of fine-tuning would help preserve diversity in advice businesses without diluting consumer safeguards.

And for advisers, contributing to discussions about how levies could be better calibrated for their specialisations, is an opportunity to help shape reform in a way that directly impacts their businesses.

Revitalising the talent pipeline

While regulation remains one of the biggest hurdles for the advice profession, an equally urgent challenge is attracting and retaining the next generation of advisers. Adviser numbers have fallen from 26,000 to about 15,000 nationwide,^[4] with few new entrants choosing risk advice as a career.

Education reform has boosted professional credibility but created practical barriers. The professional-year model is costly for small firms, which invest in training only to see new advisers leave for higher-paying roles. Meanwhile, degree requirements have prompted many experienced and strategically skilled risk advisers – often in their 50s and 60s – to exit the industry.

That exodus has taken more than numbers with it. It’s stripped the profession of lived experience – the mentors who once guided new entrants through the real human side of advice. Risk advice isn’t just about products or premiums; it’s about empathy and judgement – understanding family needs and knowing when to have the right conversations. It’s a profession that requires the kind of wisdom that comes only from sitting across the table from clients in tough moments, not in lecture halls.

To rebuild the pipeline, we need education pathways that reflect industry realities – practical, risk-specific training supported by structured mentoring. A dedicated diploma-level qualification, with hands-on learning, would attract new talent and give experienced advisers a meaningful way to pass on their craft. The Government’s Delivering Better Financial Outcomes (DBFO) legislation provides a clear opportunity to act. If the Government can create a new class of adviser under the DBFO reforms, it should equally recognise risk insurance specialists as a distinct and essential professional category.

Supporting commercial sustainability

Sustainability isn’t just about people or policy; it’s about economics.

Rising compliance costs, shrinking commissions, and heavier review obligations have made it harder for many advisers to run profitable businesses. Annual reviews, often triggered by premium adjustments and regulatory expectations, now consume as much time as writing new business.

These trends underline the need to rebalance the economics of quality advice.

Reviewing commission structures, streamlining clawback rules, and leveraging smarter technology could free advisers to focus on clients. Insurers and licensees can help by sharing data, improving claims efficiency and collaborating on practical solutions that make advice delivery smoother and more sustainable.

For advisers, focusing on operational efficiency – adopting digital systems, automating review workflows, and collaborating more closely with product partners – offers tangible ways to strengthen profitability without compromising service.

An industry-led initiative to reframe risk advice

After years of headlines focused on misconduct, reform and red tape, it’s time for the conversation about advice to change. For too long, media coverage has focused on the failures of a few rather than the value delivered by the many. The industry has spent a decade rebuilding trust – but restoring perception requires just as much attention.

As an industry, we’ve never collectively told our story. In 2024 alone, life insurers paid out more than $2.2 billion^[5] in mental-health claims, with total and permanent disability (TPD) claims accounting for nearly one-third of all payouts – yet few Australians know it.

And that’s just one category.

Across all types of life insurance, billions more are paid out each year to help families stay in their homes, keep small businesses afloat and prevent financial hardship when tragedy strikes. Without that support, the burden would inevitably fall on government safety nets – a point often lost in public debate about regulation and reform.

Life insurance remains misunderstood, too often seen as discretionary rather than essential. Other sectors have successfully reshaped public sentiment through coordinated messaging – the pork industry’s “Put some pork on your fork” campaign turned a discretionary product into an everyday staple. The same thinking could transform how Australians view risk advice.

A national, industry-led advertising campaign – uniting advisers, licensees, insurers and associations – could reframe life insurance as a core part of every household’s financial safety net. It would balance years of negative coverage with a message of purpose and impact, showing that professional advice isn’t a sales function but a safeguard that keeps families financially secure when life goes wrong.

A profession worth recognising

Despite the challenges, this remains a profession defined by purpose, resilience and an enduring commitment to clients – one that deserves recognition. Celebrating those who serve under pressure, through initiatives such as industry awards and adviser storytelling, helps keep the profession visible, inspire confidence, and attract new talent.

But recognition must go hand in hand with reframing. The same campaign that rebuilds public trust can also restore professional pride – showing advisers that their work is not just regulated, but respected; not just necessary but valued.

For advisers, the opportunity is to shape a profession that protects Australians and sustains meaningful careers. With fairer levies, practical education pathways and smarter compliance, advisers can focus less on red tape and more on what truly counts – helping people through life’s hardest moments.

Together, regulators, insurers, licensees and advisers can build a profession that stands as a cornerstone of national financial resilience.

By Sue Laing, Technical Director at The Risk Store Consulting and Steve Murray, Managing Director at Catalyst Compliance

———–

Notes:
[1] https://faaa.au/value-of-advice-research/
[2] https://www.asic.gov.au/about-asic/news-centre/news-items/asic-releases-estimated-industry-funding-levies-for-2024-25/
[3] https://cslr.org.au/cslr-releases-fy2026-revised-levy-estimate/
[4] https://www.asic.gov.au/about-asic/news-centre/news-items/asic-urges-immediate-action-from-financial-advisers-as-deadline-approaches/?utm_source
[5] https://cali.org.au/mental-ill-health-is-straining-australias-safety-net/

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Aaron Newman

Life insurer TAL has further expanded access to its popular ‘TAL Health Sense’ Plus discount to encourage more Australians to take preventative health action.

Now, eligible customers renewing their TAL income protection policies issued under a PDS and Policy Document dated on or after 24 September 2021 can earn a 5% premium discount by completing a simple preventative health check every two years.

Earlier this year, TAL added new IP policies to the preventative health discount program.

Ongoing improvements to TAL Health Sense Plus reflect TAL’s focus on providing customers with more value and making life insurance easier to access and engage with. Customers have shown they value these changes. Since BMI requirements were removed in 2024, the number of successful applications for the discount has more than doubled, year on year. 

Since it launched in 2019, TAL Health Sense Plus has helped over 20,000 customers become more informed about their health and made their cover more affordable.

Aaron Newman, General Manager, Individual Life Product at TAL, said: “TAL Health Sense Plus has already helped thousands of Australians take meaningful steps toward understanding their health while accessing more affordable insurance. Extending the benefit to existing policies reinforces our commitment to providing long-term value to our customers.”

“This change gives advisers another way to help clients keep their cover and deepen the trusted role they play in their lives.”

“Whether the customer has purchased the policy through an adviser or directly from TAL, obtaining the discount is easy. A customer simply confirms they’ve completed a routine preventative health check to unlock the discount – no paperwork or results are required.”

TAL Health Sense Plus is part of the life insurer’s ‘Health for Life’ program, which supports Australians to live healthier lives through preventative health awareness and action. In the last financial year, Health for Life delivered targeted health services, including screening tools and mental health support, to over 260,000 Australians.

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Gerard Kerr

Acenda has unveiled an innovative new Total Permanent Disability (TPD) Severity insurance benefit that provides more flexibility, clarity and choice for Australians who are unable to work due to severe injury or illness.

Traditional TPD insurance provides a payment in the event someone becomes totally and permanently disabled and can never work again in either their own or any occupation.

Acenda’s new TPD Severity option offers customers more flexibility and choice and sits alongside the existing TPD options. This allows advisers to tailor cover to their clients’ individual needs by mixing and matching the levels of TPD Severity with the customer’s preferred level of other TPD cover.

Gerard Kerr, Chief Executive, Individual Insurance for Acenda, said the enhanced benefit had been designed with input from advisers  and reflects the evolving needs of Australians, including a need for greater stability in the cost of TPD insurance.

“TPD insurance provides Australians with valuable financial protection in the event of serious illness or injury. However, the way we work, recover and diagnose medical conditions have evolved significantly since TPD insurance was first established many decades ago and our products haven’t evolved with them,” he said.

“As an industry we need to step up and provide alternative TPD solutions to advisers and their clients to ensure they can continue to access this valuable disability cover that meets that need. We’ve worked closely with advisers to design a solution that reflects the realities of modern medicine and employment, while helping more Australians access meaningful, affordable protection.

“Acenda is taking the lead with the launch of our new TPD Severity option, which provides customers with greater options in structuring TPD cover, complementing our existing any and own offerings and bringing greater affordability to more Australians.”

The launch comes amid a surge in TPD claims in recent years, particularly for musculoskeletal and mental health conditions. Between 2018 and 2023, Acenda reported a 166 per cent increase in retail TPD claims for musculoskeletal conditions. During the same period, Acenda reported a 171 per cent increase in retail TPD claims for mental illness.

These conditions can vary significantly in their level of severity and while they can be long-term and permanent, they can also be episodic with a longer period of recovery and difficult to assess under traditional TPD definitions.

This consistent rise in claims over recent years has also resulted in higher TPD premiums across the industry, making cover increasingly unaffordable for many Australians and further threatening ongoing access to this valuable disability cover.

TPD Severity uses established medical impairment benchmarks to assess the degree and permanence of disability, for both physical and mental health conditions, bringing greater objectivity and consistency to the claims process.

“TPD Severity provides customers and advisers with more clarity and consistency when making a claim by using established medical benchmarks to assess the severity and permanency of an injury or illness,” Mr Kerr said.

“We will work with advisers to ensure they are supported in recommending the best options for their customers through comprehensive education and resources.

“TPD Severity is a modern solution to a modern problem, delivering customers more affordable premiums while still offering access to meaningful protection that gives Australians the confidence to take life on.”

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Alex Homer

TAL has unveiled its new brand platform, ‘Life Takes Guts – Protecting it should be easy’, reflecting its mission to make life insurance easier and more accessible.

The refreshed approach celebrates the courage people show when faced with different challenges, and positions life insurance as supporting their resilience.

TAL is addressing feedback that many people find life insurance complex and difficult to connect with, particularly younger Australians, who often view it only as death cover and therefore less relevant to their stage of life.

TAL Chief Customer and Brand Officer, Alex Homer, said: “Life Takes Guts’ is about celebrating the strength Australians show every day as they face life’s challenges and reinforcing that we stand with them.”

“We’re here to make life insurance the easy part of building a resilient life, supporting people through life’s moments and providing a safety net when needed.”

Making life insurance easier

“Australians want to feel in control of their future, yet life insurance can sometimes seem complex and easy to put off,” said Mr Homer.

“We’re focused on making every customer experience easier – giving people confidence with control. This means accessible products they understand, great service, and above all, genuine support and care when making a claim.”

TAL is also simplifying how it talks about life insurance, using two clear categories: Living Insurance, covering Income Protection, Critical Illness and Total and Permanent Disability benefits to support recovery after a health setback; and Life Insurance, which provides a lump sum payment if a customer passes away or is diagnosed with a terminal illness.

Making life insurance more relevant

Despite rising underinsurance levels, TAL research found that many younger Australians think life insurance is only about death cover, and something they don’t need to worry about until later. However, 74% of claims TAL paid in its last financial year were Living Insurance benefits, supporting recovery after an accident or illness, which can happen at any age.

“We want to start a conversation with young people and people who may not think life insurance is for them,” said Mr Homer.

“When you think about losing the ability to earn an income, to pay your bills, or support your family, it’s clear this is a product of value.”

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Aaron Newman

Leading life insurer TAL has announced the expansion of its TAL Health Sense Plus program to include Income Protection, enabling advisers to offer more clients better value cover through a simple preventative health engagement.

From 8 August 2025, eligible new Income Protection policies submitted via TAL’s adviser platform (TAC) will automatically receive a 5% TAL Health Sense Plus discount for the first two years of the policy. From October 2025, the offer will be extended to eligible existing TAL customers who will be contacted directly.

This enhancement builds on TAL’s broader Health for Life program and reflects its continued investment in delivering personalised, sustainable solutions that support long-term engagement and improved health outcomes.

Aaron Newman, General Manager Individual Life Product at TAL, said: “This is a logical and strategic evolution of TAL Health Sense Plus. By expanding the benefit to Income Protection, we’re reinforcing TAL’s commitment to embedding wellbeing into product design and giving advisers another opportunity to support customer retention and product value.”

“The process is simple – no paperwork or test results are required. All TAL needs is confirmation that a routine health check has taken place. It’s a streamlined way to reward proactive health engagement, with minimal additional workload for advisers and their clients.”

The TAL Health Sense Plus discount supports preventative health by encouraging customers to undergo routine health screening, such as a GP check-up or an appropriate national screening test, which are an effective step toward identifying potential health issues early.

Dr Priya Chagan, General Manager Health Services at TAL, said: “Preventative screening is one of the simplest, most effective ways to detect or even prevent conditions such as cancer, diabetes and heart disease.

“By embedding preventative health into TAL’s insurance offerings, we’re building enduring relationships with our customers, helping them understand the value of their insurance while encouraging them to take proactive steps to protect their health. Our goal is to reduce barriers to preventative care and make it easier for customers to prioritise their health.”

This enhancement is the latest in TAL’s continued investment in TAL Health Sense Plus, part of its broader Health for Life program, which helps Australians live better, longer and healthier lives by encouraging proactive engagement with their health.

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Christine Cupitt

The Council of Australian Life Insurers (CALI) wants the Federal Government to legislate without delay to ban the use of genetic test results in insurance underwriting.

After nearly two years of collaboration between Australia’s life insurers, the Federal Government, and other stakeholders, CALI welcomes the Government’s recommitment to legislate the ban, saying decisive action is urgently needed.

“Australians need certainty. No one should be deterred from taking genetic tests that help them to better manage their health,” said CALI CEO Christine Cupitt.

“Life insurers want to support Australians to manage their health in a preventative way and recognise that genetic testing plays an important part in empowering them to do so.

“Australians want the Government to legislate, and so does our industry. We need legislation to remove uncertainty in the community.”

Australia’s life insurers have long supported the responsible use of genetic testing to help Australians take charge of their health. In 2019, insurers introduced a mandatory industry standard to restrict the use of genetic test results in underwriting.

“A lot has changed since our industry standard was introduced. Given the advancements in the science and accessibility of genetic testing, now is the time for the Government to act and legislate,” Ms Cupitt said.

The industry has welcomed the recommitment to include a five-year review, which will be essential to ensure the law keeps up to date with the ever-evolving genetic testing landscape.

All of CALI’s members recognise that genetic testing can play an important role in giving people peace of mind and supporting them to reduce potential health risks.

Background

The majority of Australians have obtained their cover without ever having to disclose the results of a genetic test. Australia’s life insurers have never, and would never, require someone to take a genetic test for the purposes of underwriting. Any suggestion otherwise is simply incorrect.

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