Is the TPD claims process creating additional harm?BY REBECCA SCARRABELOTTI | FRIDAY, 21 MAR 2025 12:40PM While most of us breathed a sigh of relief as the worst-case scenario for Tropical Cyclone Alfred didn't materialise, insurance has been on the minds of many of us. If your home ... 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've heard that rationale expressed before. It seems to go along with the inherent delays in accepting medical evidence on TPD claims. Since LIF was introduced seven years ago, we've watched insurers struggle with a 60% reduction in genuine new business into their pools and then attempt to recover that lost revenue by "gouging" legacy products and introducing that misleading and deceptive device known as Duration Based Pricing, apparently without any meaningful examination from either ASIC or Apra.
Slowing up TPD claims is just another method of slowing up outflows in the face of a significant decrease in premium inflows.Restoring commissions to pre-LIF levels will encourage more advisers to write risk because as we speak it is not worth our while. Nothing else will increase new business premium inflows like re-introducingto a capacity for advisers to actually make a profit advising on life risk.
Replacing an SOA with an equally cumbersome CAR is not going to cut the mustard