Investors without financial advisers make bad decisions
Only 45% of the middle class would seek financial advice for complex decisions, yet two-thirds have made at least one “really bad financial decision” – costing them thousands. The federation’s report found that most middle class respondents rate their ability as “excellent” or “good” to make decisions on a wide variety of financial issues, while 63% rated highly their ability to save for retirement, and 66% rated highly their ability to purchase life insurance (66%).
Insurers key to stamping out churn: Summers
The solution to Australia’s insurance churn issue is in the hands of life companies, according to the former chair of My Adviser. Australia’s life insurance providers must develop a new generation of fee-for-service insurance products and adopt a stringent replacement of product protocol if the practice of churning is to be stamped out, an industry executive has said.
Hard knock life? Trauma Insurance
IT IS one of the ironies of life that we take care to insure against unlikely events, yet ignore protecting ourselves from some of the most common and serious illnesses that can occur. Fortunately, there is now insurance available that pays a lump sum on the diagnosis of a serious illness – trauma insurance.