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Weekly Life Insurance News Roundup

February 25th, 2013 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

SMSFs need insuring… or do they?
Despite legislation being introduced late last year in an attempt to boost the life insurance quota of SMSFs, hundreds of thousands of Australians managing their own super continue to risk their retirement nest-egg. The legislation was introduced in response to the Cooper Review, which found that fewer than 13% of SMSFs had insurance. It required trustees of SMSFs to indicate that they’ve considered life insurance for members of the fund.

Clive Levinthal leaves ClearView
Clive Levinthal has left ClearView and accepted a chief executive officer position at Experien Insurance Services.

Under-insurance gap a kiwi problem too
New Zealanders are under-insured by about $650 million and face serious financial risk in the event an income earner dies or suffers serious illness.
The findings are part of a two-year research project commissioned by the Financial Services Council (FSC) and undertaken by Massey University which examined levels of cover for permanent disability, income protection, trauma and life cover.
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Weekly Life Insurance News Roundup

February 18th, 2013 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Euro brokers feel the heat from direct insurer
Direct insurers continue to take large bites out of insurance sales with more than 40 per cent of motor or household policies purchased online across six European countries – France, Germany, Italy, Poland, Spain and the UK.

ClearView makes $561,000 loss
ClearView has made a $561,000 first half loss, mainly due to costs related to CCP Bidco’s takeover of the financial services company. The company, which also provides superannuation and life insurance, announced that it had made a net loss of $561,000 million for the six months to December 31, down from a $12.2 million profit in the previous corresponding period.
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Weekly Life Insurance News Roundup

February 11th, 2013 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Life insurance an opportunity for planners
The TAL Australian Financial Protection Index questioned more than 1200 Australians on how they view their life insurance, with a score from 0 to 100 – where 100 indicates they have adequate coverage in life, illness, disability and income protection insurance. The figures from the report were released yesterday.

Trinity dux became world expert on life insurance
Lawrence Cohn played a leading role in the insurance industry in Australia and internationally with the council of the Australian Insurance Institute, and as chairman of the executive committee of the Life Offices’ Association of Australia. From 1970 to 1985 he represented the Australian actuarial profession on the council of the International Actuarial Association and in 1982 he was elected vice-president of the Faculty of Actuaries in Scotland, the only Australian to hold that office.

Weekly Life Insurance News Roundup

February 4th, 2013 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Dig for detail to stay safe
Income protection insurance covers you for injury and illness, but what about job loss?

Superannuation rules have changed again
THE superannuation rules have been changed yet again – this time to require trustees of self managed super funds to consider insurance for their members as part of the fund’s investment strategy.

TAL’s Affinia hires for growth plans
Life insurance group TAL’s new risk business Affinia has hired three regional managers to spearhead growth plans, it said yesterday.

The risks of buying finance products online
ONLINE shopping is booming but what are the risks of buying financial products online? When buying financial products online, the biggest risk is that we don’t always know what we need and nor do we always recognise that lack of knowledge. Take life insurance as an example.
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