Changing face of insuranceBY OLIVIA SARAH-LE LACHEUR | FRIDAY, 2 FEB 2018 2:38PM The pace of change in Australia's income protection (IP) offering has gathered significant steam in recent years. For advisers who have been in the industry for a while now, you ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Inheritance dissatisfaction an advice opportunity: Report
Most high-net-worth (HNW) inheritors are unhappy with how they have used their inherited capital, presenting an opportunity for financial advisers.
Link Wealth acquires boutique advice firm
Link Wealth's national expansion is continuing to progress, acquiring financial advice firm Xponential Advisory a few months after taking a majority stake in Sky Advisers.
AIOFP, FAAA encouraged by first meeting with Mulino
Following their inaugural meeting with new financial services minister Daniel Mulino, the Association of Independently Owned Financial Professionals (AIOFP) and Financial Advice Association Australia (FAAA) feel enthused about the impact he will have on the profession.
Aged care reforms pushed to November
The government is delaying the implementation of the new Aged Care Act until November 1 following widespread concerns that stakeholders weren't given enough time to prepare.
Further Reading
Cover Story
Moving mountains
MAGDELINE JACOVIDES
FOUNDER AND FINANCIAL ADVISER
MAZI WEALTH
FOUNDER AND FINANCIAL ADVISER
MAZI WEALTH
On top of running a successful practice, Mazi Wealth founder Deline Jacovides is a fierce advocate for closing the superannuation gender gap and has built a highly popular social media presence that takes financial literacy to the next level. She tells Karren Vergara where her passion comes from and how she integrates it all with family life.
Expert Feed
The need to achieve real scale in advice - and serve all Australians
One of the great social challenges in financial services today is the millions of everyday Australians who want and need financial guidance but cannot ...
Are US assets becoming less desirable?
There has been so much commentary, including by us, on the twists and turns of US trade policy - notwithstanding the latest 90-day truce with China - ...
Listed private equity: A strategic opportunity amid global market dislocation
The sharp escalation in global trade tensions in 2025 has injected a fresh layer of volatility into capital markets.
How to manage the rise of 'early' inheritances
For decades, financial advice around wealth transfers has largely focused on estate planning and the distribution of assets after death. However, a significant ...
I think there is a con in place. Insurers are very reluctant to separate income protection losses in retail from those in group super.
Insurers please separate the actual losses. Insurers should get out of non-underwritten group income protection before they scream IP losses. Otherwise retail clients and their advisers will lose whatever trust is left.
I agree with the previous comment. There is a very real difference between what I would term a "proper contract" (full fact find, S.O.A, full advice, properly underwritten and adviser support at claim). Rather than "the do you want IP? - sign here contracts", and oh and by the way we will underwrite at claim time. Often sold or marketed by the same insurer.
Yes, the above comments are worthwhile. We do know however that we in Australia have among the very best income protection policies available. Those in the UK and the US offer nowhere near as many ancillary benefits as we do. For instance, often waiting period are not less than 3 months and benefit payments periods to age 65 aren't as readily available as they are here. If our clients want those they'll realise these come at a price.