Insurance

Insurance Articles

Bankruptcy, life insurance and superannuation

ALEXIS KOODRIN | Comments | FRIDAY, 14 JAN 2022

If your client base includes business owners, chances are you have turned your mind to what might happen to their superannuation and proceeds from life insurance policies should their circumstances drastically ... ... Read more

The distribution of life insurance in Australia

MICHAEL MULHOLLAND | Comments | FRIDAY, 17 SEP 2021

MetLife Australia undertakes an annual Understanding the Adviser-Client Relationship Report, which explores the attitudes, behaviours and expectations of current and potential advice clients to help ... Read more

Insurance cover available through superannuation

AMY LEWIS | Comments | FRIDAY, 13 AUG 2021

Superannuation funds typically offer three types of insurance to members. How age makes a difference to superannuation insurance If a member is over 25, most superannuation funds automatically provide ... ... Read more

Insurance companies are changing the rules

RUSSELL CAIN | Comments | FRIDAY, 14 MAY 2021

You might have read in the news of the Australian Prudential Regulation Authority (APRA) changes coming to income protection insurance contracts. APRA has announced a significant shakeup to income protection ... ... Read more

Adding youth to an old problem

CARLY VAN DEN AKKER , MICHAEL RENNY | Comments | WEDNESDAY, 10 FEB 2021

One of the emerging risks raised in this year's Swiss Re SONAR New emerging risk insights report (SONAR report) is 'mental health among the young'. The SONAR report explored how the impact ... ... Read more

Insurance advice for business clients

CRISSY DEMANUELE | Comments | FRIDAY, 4 DEC 2020

Running a business means taking all sorts of risks, many of which can be difficult to control: economic ups and downs, increased competition and changing consumer behaviour, to name a few. However, one ... ... Read more

TPD inside and outside super

JEFFREY SCOTT | Comments | FRIDAY, 5 FEB 2021

Advisers are often asked whether or not a client should own their total and permanent disability (TPD) policy individually (self-owned) or have it structured via a superannuation fund where they are ... Read more

TPD claims within super

ANDREW REYNOLDS | Comments | FRIDAY, 15 MAY 2020

An unintended consequence of the Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (PYSP Act) that came into effect on 1 July 2019 means that many total and permanent disability ... ... Read more

Men's health and life insurance

RACHEL LEONG | Comments | THURSDAY, 5 DEC 2019

Annual events such as Movember highlight the need to consider the various insurance policies that can protect clients against the financial impacts of serious diseases most commonly affecting men, such ... ... Read more

Providing insurance advice to divorcees

RACHEL LEONG | Comments | FRIDAY, 8 NOV 2019

Approaching a difficult topic Some may consider raising the topic of life insurance during a divorce as bad timing, however, it is an important conversation to have because the splitting of finances ... Read more

Time for action

ANDRES WEBERSINKE | Comments | FRIDAY, 11 OCT 2019

Individual disability income insurance (DII or income protection) is a key insurance product for consumers. It offers essential financial protection when income falls away due to sickness or injury but ... ... Read more

A guide to business insurance

JAMES MCFARLAND | Comments | FRIDAY, 19 JUL 2019

In over 30 years of business Stanford Brown has gained extensive experience partnering with small to medium sized business owners. As small business owners ourselves, we understand that the business ... Read more

Advice culture and remuneration

GREG MARTIN | Comments | FRIDAY, 28 JUN 2019

The psychology behind good and bad advice We are all motivated reasoners and our motivation is rarely simply financial. Life insurance commissions, much like Satan and the universe, are too frequently ... ... Read more

Income protection and the economic cycle

GREG MARTIN | Comments | FRIDAY, 1 MAR 2019

Discontent is engulfing the retail income protection insurance sector. This is not surprising given income protection claims have doubled in the last ten years. The steep trajectory of claims costs is ... ... Read more

Disruption in insurance

DANIEL BIONDI , PAUL CRONIN | Comments | FRIDAY, 14 SEP 2018

Insurance has long been viewed as a relatively stable offering within the financial services sector. Traditionally, people paid their premiums on a regular basis with monies invested for long term gains. ... Read more

Life insurance in Australia (Part 2)

NOBLEOAK LIFE INSURANCE | Comments | FRIDAY, 2 MAR 2018

The traditional decision making models of 'needs awareness', 'information search', through to the 'purchase decision' is fast becoming outdated in the new era of digital consumption. ... Read more

Life insurance in Australia

NOBLEOAK LIFE INSURANCE | Comments | FRIDAY, 23 FEB 2018

For the second year running, NobleOak has commissioned research to identify customer trends and behaviour in the life insurance and wider financial services industries. Surveying over 1,000 Australians ... ... Read more

Genetics: A testing time for insurers?

JESSICA CHEN , ALAN DOBLE | Comments | FRIDAY, 10 NOV 2017

Genetic Testing and Insurance Knowledge of the implications of genetics on human health has continued to evolve rapidly since the first mapping of the human genome was completed around the start of this ... ... Read more

Part II - Life insurance: The case for change

ANZ WEALTH | Comments | FRIDAY, 3 NOV 2017

Focusing on health and wellbeing THE CHANGING FACE OF WELLBEING New technologies and social trends are redefining approaches to healthy living and inspiring an upsurge of interest in personal wellbeing. ... Read more

Part I - Life insurance: The case for change

ANZ WEALTH | Comments | FRIDAY, 27 OCT 2017

Trust in insurance has been eroded PUBLIC CONFIDENCE IN LIFE INSURANCE HAS DECLINED Over the past few years, a spate of highly publicised incidents of mis-selling and controversial claims decisions have ... ... Read more

Super reform: implications for holding life cover through super

STUART SHEARY | Comments | FRIDAY, 22 SEP 2017

The recent super reform changes makes it an opportune time to revisit how life cover in super should be funded as well as how it should be paid to eligible beneficiaries from super upon death. From 1 ... ... Read more

Life Insurance Megatrends: 10 trends reshaping the industry

DAVID LOADER | Comments | FRIDAY, 13 JAN 2017

Life insurance plays a vital role in the modern life, supporting people during difficult time. But despite the social good that stems from it, the industry has a less than flattering public image and ... ... Read more

Tax considerations for owning TPD policies inside or outside superannuation

RAHUL SINGH | Comments | FRIDAY, 14 OCT 2016

Prior to 1 July 2014, when considering total and permanent disablement (TPD) insurance, advisers typically considered the advantages and disadvantages of owning the cover inside or outside superannuation ... ... Read more

Life Company of the Year Awards

DARREN SNYDER | Comments | FRIDAY, 4 MAR 2016

The Art Gallery of New South Wales was the scene of this year's gala dinner for the PFL/AFA PFL/AFA Life Company of the Year for 2015. ... Read more

The art of underwriting in the automated age

DARREN O'CONNELL | Comments | TUESDAY, 3 NOV 2015

This edition of the Suncorp Group's Insurance Insights white paper series will argue that human judgement and intuition is still as important as it ever has been in driving positive underwriting ... Read more

The advice challenge - Understanding what clients value

REBECCA SHEILS , ADAM TUCKER | Comments | THURSDAY, 11 DEC 2014

For advice to be truly effective, advisers must become proficient at identifying which segment their clients fall into and then know how to deliver on the unique needs of each segment. ... Read more

Insurance Product Replacement Advice - A Case in Point

TREVOR HARRIS | Comments | THURSDAY, 10 JUL 2014

his court case is something all risk writers and financial planners should acquaint themselves with. The human story behind the case also appeared on the ABC program 'Four Corners' on 5th May 2014 in ... ... Read more

Apathy to action

JOHN BROGDEN , DAMIEN GREEN | Comments | THURSDAY, 10 JUL 2014

To motivate behavioural change, insurers need to create tangible triggers: events or rewards, not fear and peace of mind. They need to use important life stages to make people think about protecting ... Read more

Insurance and superannuation: are you prepared?

JEFFREY SCOTT | Comments | TUESDAY, 25 MAR 2014

Insurance in superannuation will have significant changes over the next 12 months and we examine carefully three of these changes to help you prepare for them. ... Read more

Using trauma proceeds to top up income protection

STEPHEN MILLER | Comments | WEDNESDAY, 3 APR 2013

There is scope to use a trauma policy to pay an NCIS under the temporary incapacity condition of release. ... Read more

Business insurance trust

ALEXIS KOODRIN | Comments | WEDNESDAY, 3 APR 2013

The use of business insurance trusts has a number of commercial advantages over conventional structures, including potential substantial cost savings ... Read more

Business Insurance Trust

ALEXIS KOODRIN | Comments | TUESDAY, 15 JAN 2013

The use of business insurance trusts has a number of commercial advantages over conventional structures, including potential substantial cost savings. ... Read more

Weathering the storm – The Australian dollar in a post – GFC world

ROGER BRIDGES | Comments | THURSDAY, 1 MAR 2012

The global financial crisis (GFC) may have proved to be a turning point for the Australian economy and the way the Australian dollar (AUD) trades in the future. In this paper, Roger Bridges discusses ... ... Read more

Squeezing the lemon: driving insurance profits in the new investment landscape

GRAHAM HARMAN | Comments | THURSDAY, 1 MAR 2012

This paper looks at ways to "squeeze the lemon", and to work your asset portfolio harder. We clarify the mechanisms by which developments in security markets can impact an insurance company; ... ... Read more

Guaranteed future insurability options

ANQING LIN | Comments | MONDAY, 5 DEC 2011

Life insurers in Australia typically offer a guaranteed future insurability (GFI) feature as part of their lump sum risk product range. This papers discusses the emphasis is on the mortality risk, the ... ... Read more

Trends in Mental and Nervous Disorder Claims

MARCUS CHENG | Comments | MONDAY, 5 DEC 2011

This paper assesses the current state of the life insurance market in Australia and looks at the different factors that impact on an individual's life insurance, in addition to how insurance serves ... ... Read more

Income Protection in Super – what are the advice issues?

JONATHAN DE FRIES | Comments | MONDAY, 5 DEC 2011

There's some debate and concern in financial advice circles about holding income protection insurance (IP) inside super. Following a favourable tax change in 2007, the issues have gradually intensified ... ... Read more

Economic cycles, financial shocks and life insurance

YONG JIAN KHOO | Comments | THURSDAY, 17 NOV 2011

Life insurance serves various purposes, such as mitigating the financial impact of adverse events such as death or disablement; providing a means of private savings; and for funding retirement. Clearly ... ... Read more

Risking everything

RICHARD KLIPIN | Comments | THURSDAY, 17 NOV 2011

The focus of the Risking Everything research, conducted by CoreData on behalf of the Association of Financial Advisers, is to investigate in a more detailed way how Australian consumers are addressing ... ... Read more

Life insurance through super - optimising clients' incomes

TIM SANDERSON | Comments | MONDAY, 1 AUG 2011

This paper, Life insurance through super - optimising clients' incomes, examines considerations for an adviser when assessing life insurance within the superannuation. Tim Sanderson, Colonial ... ... Read more

Insurance in Superannuation – A potentially dangerous opportunity

STEPHEN GRAHAM | Comments | MONDAY, 27 SEP 2010

According to recent Lifewise / NATSEM research, 95 per cent of Australian families don't have adequate insurance cover. This dramatic level of underinsurance provides a significant opportunity ... Read more

When insurance cover unearths unexpected 'value-add'

MARK STORY | Comments | MONDAY, 27 SEP 2010

What comes first, the insurance cover or the underlying business succession strategy? As Melbourne-based company directors discovered by default - no business should have one without the other. With ... Read more

Insights into the Australian Life Insurance Sector

PHILIP FOURIE | Comments | SUNDAY, 10 MAY 2009

In an attempt to better understand the Australian life insurance sector, Fintechnix identified 28 thought leaders in the sector and asked them to share their views on the issues affecting their industry. ... Read more

The Insurance Opportunity

MARK PATTERSON | Comments | THURSDAY, 14 JAN 2010

Once upon a time, insurance lived in the realm of specialist risk advisers only. Today, through innovation, new technologies and necessity, insurance products have evolved and are simpler to understand ... ... Read more

Insurance Bond Master Funds

ROSS HIGGINS | Comments | SATURDAY, 10 JAN 2009

When Ross Higgins joined Austock, he was asked to develop a new type of Insurance Bond. As Ross points out the Insurance Bond market has been moribund for many years because, "the Life Industry failed ... ... Read more

What does your Income Protection Policy Offset Clause say?

HELEN MENTIPLAY , PETER RIDDELL | Comments | SATURDAY, 10 JAN 2009

Helen Mentiplay and Peter Riddell are lawyers at TurksLegal. In this paper they explore the implications on income protection policies of a 2008 NSW Supreme Court case (Carolyn Philips (née Durrand) ... ... Read more

Key person insurance: Who needs it?

MARC FABRIS | Comments | TUESDAY, 1 JAN 2008

Ask the average small business owner whether they insure their key people and they'll probably look at you blankly. That's because less than half will have ever even heard of the cover and only ... ... Read more

Professional indemnity insurance, internal compliance and AR agreements

JIM BULLING | Comments | TUESDAY, 1 JAN 2008

During bear market periods, anyone in the business of giving financial advice is in a position of greater risk from clients who end up with disappointing outcomes. Often this is a case of individuals ... ... Read more

Protecting a small business using insurance

JONATHAN DE FRIES | Comments | FRIDAY, 22 MAY 2009

Jon de Fries argues that "well-structured business insurance helps keep your business functioning and protects the value of your business in the case of unplanned events." His paper points out the chronic ... ... Read more

The insurer's claims management dilemma

ALEX WAGNER | Comments | FRIDAY, 22 MAY 2009

Alex Wagner is the claims manager at Zurich. In this paper Alex shows that insurers assess claims under the spotlight of two competing objectives - the need to assess claims quickly because of potential ... ... Read more

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Advice firm rebrands, scores own AFSL KARREN VERGARA The move to self-licensing continues to grow as a Victoria-based advice practice scored its own AFSL after operating under a dealer group for 13 years.	Advice industry loses 800 over New Year period KARREN VERGARA The exit of 807 advisers during the Christmas and New Year break leaves the total population close to dipping below the 18,000 mark.

Most paraplanners will not become financial advisers KARREN VERGARA Despite popular belief, an overwhelming number of paraplanners do not intend to pursue a career as a financial adviser, a new report reveals.	Dramatic growth in non-aligned advisers: Research KARREN VERGARA Financial advisers tilted towards the non-aligned sector at an unprecedented rate during 2021, a new report suggests.

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