![]() | Why life insurance is a necessity in tough times With household budgets under pressure ... and consumer confidence weak, many families are wondering whether life insurance is worth the expense. Or maybe it is something they can do without? - read more
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![]() | Understanding the Differences: Income Protection vs Total and Permanent Disability Insurance Income protection insurance is a type of policy that provides financial support to individuals who are unable to work due to an illness or injury. The insurance company will pay a portion of the policyholder's earnings, which can be used to cover everyday living expenses and bills. This type of insurance is different from total and permanent disability insurance (TPD) in a few key ways. - read more
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![]() | DIY Review Checklist for your Income Protection Insurance If you have an income protection insurance plan already - or are thinking about buying one, then you need to be aware that these policies require regular maintenance and careful scrutiny to ensure that they adequately meet your needs. Unfortunately, many people purchase income protection insurance policies only to find out about their shortcomings at claim time. - read more
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![]() | Life Insurance: How much is enough? When considering life insurance, you're planning and preparing for an event that most of us would rather not think about. But life insurance represents a critical step in managing your personal finances and ensuring your family's well-being. - read more
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![]() | Income protection insurance It's trite but true to say that, for most people, their most valuable asset is their ability to earn an income. But how relevant is income insurance to most Australians? - read more
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![]() | Flood victims receive $6 million in compensation from insurance companies following complaints 27 Jan 2023: .financialservicesonline.com.au The recent flood disasters in Victoria and New South Wales have resulted in nearly $6 million in compensation to policyholders affected by the floods, according to the Australian Financial Complaints Authority (AFCA). Data from the AFCA revealed that 1,064 flood-related complaints were recorded as of December 31, with the majority of complaints related to home building insurance (74%) and home contents insurance (9%). - read more |
![]() | Suncorp's AAMI and GIO fined for breaches of internal review timeframes 27 Jan 2023: .financialservicesonline.com.au The New South Wales State Insurance Regulatory Authority (SIRA) has recently imposed a fine of $100,000 on Suncorp's compulsory third party (CTP) brands AAMI and GIO for failing to meet their internal review timeline obligations. This marks the first time that a civil penalty has been imposed on CTP insurers under the Motor Accident Injuries Act. - read more |
![]() | Undisclosed debt agreement results in rejected insurance claim 25 May 2022: . A motorist lost her insurance claim dispute after failing to disclose a debt agreement while renewing her insurance policy. - read more |
![]() | Australian home insurance in crisis? 19 May 2022: . Warmer temperatures linked to climate change are likely to make home insurance unaffordable for over 500,000 homeowners in Australia by 2030, according to a report from the Climate Council. - read more |
![]() | AFCA finds MLC failed to give proper notice of rate increases 19 May 2022: . A dispute ruling against MLC, the Australian Financial Complaints Authority (AFCA) found that the company did not give adequate notice when it raised the critical illness premiums of a policyholder. - read more |