InsuranceLine launches new income protection product

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InsuranceLine, Australia’s largest direct insurance provider has launched Income Protection Plus, a product which promises to bring simplicity, flexibility and affordability to the Australian income protection market.  The new product called Income Protection Plus will offer applicants the choice of a Rate Saver or Time Saver plans. The Rate Saver product is designed for people […]

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Insurance Schmexperts

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Just as it seemed the life of a financial adviser would return to mind-numbing dullness after the FoFA brouhaha, the Experts Schmexperts have re-appeared with more great ideas.  What a relief! I was concerned that I would not have anything more to worry about other than focus on my clients, helping them to navigate the […]

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Equity market volatility drives more planners to risk advice

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Risk advice is increasingly important to planners’ businesses, with more now advising on it than ever recorded in the eight years of this study’s history, according to a new report released last week from leading wealth researcher Investment Trends. The June 2012 Investment Trends Planner Risk Report is an in-depth study of Australian financial planners […]

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AMP’s new wealth protection offer reflects a changing world

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AMP has announced the addition of a range of enhancements and new product features to its award-winning insurance offer, Flexible Lifetime Protection (FLP). AMP’s Head of Product On-sale for Retail Wealth Protection John Ashton said changing work patterns, family structures and business practices, as well as ever improving medical care, means insurance solutions need to […]

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Half Yearly Life Insurance Bulletin for December 2011

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The Half Yearly Life Insurance Bulletin provides an aggregated summary of the life insurance industry for the financial years ended in a 12-month reference period. It also contains a range of data items for each individual entity, including profit and loss, balance sheet and solvency information. To read the Bulletin, click here.

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MoneySmart says check your insurance cover

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ASIC’s consumer website, MoneySmart, is encouraging people to check they have appropriate insurance cover. The Bureau of Meteorology predicts a high risk of tropical cyclones this summer . The long-term average is twelve cyclones each season. There is also the ever-present risk of bushfires. ASIC’s Senior Executive Leader Financial Literacy, Delia Rickard said, ‘To check […]

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Technology, education, analytics to drive growth in wholesale insurance market

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A new report from independent financial services consultancy Rice Warner predicts strong growth for the wholesale insurance market over the next 15 years. According to Richard Weatherhead, Director and Head of Life Insurance at Rice Warner, this growth will emanate from individual member increases in cover rather than increases to default cover levels. “The growth […]

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Millions of workers to lose access to advice if commissions banned in group risk

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The Government’s re-think on a commissions ban on life insurance within superannuation must extend to group risk, or millions of Australian workers will lose the affordable access they currently have to life insurance advice within their corporate superannuation plans, according to the Corporate Super Specialist Alliance (CSSA). The Minister for Financial Services and Superannuation, Bill […]

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Insurance needs change on retirement

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Recent discussion about the so-called ‘de facto death duty’ levied on superannuation payouts to non-dependants, which includes payouts on life insurance held in super, highlights that pre-retirees should reassess how insurance is held and what cover is needed, says Mr Michael Hutton, head of wealth management at accountants and advisors HLB Mann Judd Sydney. “There […]

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Institute of Actuaries calls for temporary national flood insurance pool

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The Institute of Actuaries of Australia (the Institute) today called for the creation of a temporary national insurance pool to subsidise premiums for high flood risk properties and to fund financial incentives for mitigation actions until mitigation strategies can reduce flood risks in the system to an acceptable level. Commenting on its submission to the […]

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