Life Insurance Blog

Weekly Life Insurance News Roundup

September 24th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

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.

Do I need Life Insurance?

September 20th, 2012 | Posted by Editor in Articles - (Comments Off on Do I need Life Insurance?)

In most cases yes, many of us do not realise how affordable Life Insurance has become. The intention to sell your assets including your home and investments in the event you should die or become ill or injured should be a thing of the past.

Weekly Life Insurance News Roundup

September 17th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

OnePath’s Trauma Premier a winner for offering plenty of choices
When competitors ‘zig’, OnePath tends to ‘zag’ and it has worked for the company once again, with its Trauma Premier cover getting the top spot in this year’s Money Management/Dexx&r Adviser Choice Risk Award for trauma products.

Brokers: how to solve our public perception crisis
Three leading Australian insurance brokers tell Insurance Business how to tackle the public perception problem that insurance brokers are simply not to be trusted…

Does My Business Need Key Person Protection?

September 10th, 2012 | Posted by Editor in Articles - (Comments Off on Does My Business Need Key Person Protection?)

If you run a business then chances are that you are well aware that your employees are your biggest asset. Irrespective of the size of your company, the people who work for you are precious since they manage the show and take care of various things for you. If you have found an employee or a few employees that have a higher level of competence than the others then you may notice increased profits and an improved customer relationship with important clients. In such cases, you should take care of this employee or employees since doing this can in turn ensure that your business runs smoothly at all times.

Weekly Life Insurance News Roundup

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

How brokers can solve Australia’s underinsurance problem
Small businesses in Australia remain woefully under-insured, with the latest research unveiling the shocking extent that many firms have insufficient or no cover in vital areas. How can brokers reverse this trend?

Zurich weighs into clawback debate
Insurance heavyweight Zurich has set out its position on the FSC’s controversial clawback plans, and its views may offer some hope to financial advisers.

Risk advisers facing an opt-in dilemma
The opt-in requirement will touch the day-to-day operations of risk advisers who have switched to some form of fee remuneration model, writes Sue Laing. With the passing of the Future of Financial Advice legislation amendments now behind us and implementation less than 12 months away, many life risk advisers will soon be tackling an important decision. Over the past several years there has been strong encouragement for commission-based models to transition to fee-based, or fee and commission-based, advice.

Weekly Life Insurance News Roundup

September 3rd, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Suncorp consolidates on IT Building Blocks
Suncorp is ramping up work on a second modernisation program after bedding down its three-year Building Blocks program ahead of schedule. Building Blocks aimed to simplify Suncorp’s banking and insurance businesses by removing duplicate CRM, HR, finance, claims, and pricing systems with an annual savings target of $235 million from 2013. Pancino said the company planned to consolidate 14 insurance policy mainframe systems into one, while re-engineering platforms to support a 2.5-year-old push to drive more life insurance sales through direct channels.

Why insurance is critical when SMSFs borrow to buy property
Damian Revell explains the importance of insuring the members when a SMSF borrows to buy property and assesses the policy ownership options. Many self-managed super funds (SMSFs) that have used a Limited Recourse Borrowing Arrangement (LRBA) to acquire a property have little or no other assets in the fund.

Crescent Capital lifts bid for ClearView to 55c a share
AUSTRALIAN private equity firm Crescent Capital Partners today lifted its $245 million takeover offer for listed financial services firm ClearView Wealth, a person familiar with the matter said.