Life Insurance Blog

Weekly Life Insurance News Roundup

April 16th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Financial advisers want more help with social media
Financial advisers are keen to further embrace social media but many would like more training in how best to use it, according to a recent Zurich Australia survey. There may not be a full appreciation of the kind of apps that are already out there, which includes information or note gathering apps, sales tools, calculators, and life insurance quoting apps.

Ask Noel
If a husband and wife die together and leave the contents of a large superannuation to be divided among various relatives, what sort of tax would the government impose on super funds left to the beneficiaries? What is the best way to minimise this tax?

A financial future to safeguard everyone
When the Future of Financial Advice legislation comes into effect there will be two classes of investors in Australia, those with old money and those with new. People with old money will have to make it work harder as their returns will continue to be eroded by commissions. Those with new money will have their investment returns protected by FOFA.

Weekly Life Insurance News Roundup

April 9th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Apple rules limit innovation
Recently minted financial services business ClearView had wanted to put a link to its website on its recently released mobile app. But Apple, which hosts the app on iTunes, wanted to take a clip of the ticket on any insurance that was then sold.

MLC in medical partnership
MLC has entered into a partnership with Australian medical software provider, Zedmed to launch Practice Management Essentials. The insurance module powered by MLC is the third module of Practice Management Essentials developed by Zedmed. The module illustrates the benefits of aligning processes between insurers and the medical industry so that life insurance applications and claim assessments are managed with greater timeliness, efficiency and accuracy to better service patients.

Total and Permanent Disability Insurance

April 4th, 2012 | Posted by Editor in Articles - (Comments Off on Total and Permanent Disability Insurance)

Total and Permanent Disability insurance also known as TPD insurance is a type of Life insurance product offered by insurance companies to Australian residents. The purpose of Total and Permanent Disability insurance is to provide financial support to the insured and their family members in the event the insured person suffers an illness or injury that renders that person totally and permanently disabled.

Weekly Life Insurance News Roundup

April 2nd, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Get ready for ‘FoFA on steroids’ if you’re an accountant and adviser
The Accounting Professional and Ethical Standards Board (APESB) plans to forge ahead and introduce a new mandatory standard ‘APES 230 Financial Advisory Services’ once the dust settles surrounding FoFA.

ASIC survey results strengthen need for FoFA reforms
Just days after the reforms’ passage, the Australian Securities and Investments Commission released its anonymous “shadow shopping” survey of financial planners, and its lacklustre results highlighted the need for improved financial advice.