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|Loss of income insurance: Case Study |
Rebecca is a single, self-employed graphic designer who works from home. Aged in her mid-30s, she has monthly commitments of a mortgage and car payments and the usual living expenses. - read more
|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
|Who Needs Disability Insurance?|
If you are like most people on this planet, you are not financially free. You would not be able to stop working and still support yourself and your family from your financial resources. Your continued ability to work to earn an income would therefore be one of your greatest assets. - read more
|How Much Life Insurance Do I Need?|
There are many different reasons to purchase life insurance (generation skipping tax, estate plan, estate preservation, surviving spouse needs, planning for your children's future and more). There is no right amount of life insurance, but here are some guidelines that might help you decide how much life insurance you need. - read more
|Life Insurance for Millennials: Why It's Essential.|
As a millennial, you may believe that you're young, healthy, and have plenty of time to prepare for the future. However, it's essential to understand that life is unpredictable, and unexpected events can occur at any time. This is why it's essential to consider life insurance, particularly if you have financial responsibilities, dependents, or both. - read more
|AFCA Criticizes Insurance Industry Over Delayed Dispute Resolution|
20 Mar 2023: .financialservicesonline.com.au
The Australian Financial Complaints Authority (AFCA) has expressed its deep concern on the rising complaint numbers and poor industry response, leading to significant dispute resolution delays. The CEO and Chief Ombudsman, David Locke, warned that complaint numbers could reach 100,000 in the current financial year, an increase from 72,358 in the previous year. The surge in complaint numbers resulted from natural catastrophes, complaints about claims handling and an increase in banking sector-related scams. - read more
|The Importance of Weather-Related Insurance Coverage for Australian Homeowners|
20 Mar 2023: .financialservicesonline.com.au
As the weather in southern Australia continues to be a hot topic, homeowners are reminded of the importance of reviewing their insurance coverage. With bushfire warnings being issued due to extreme heat and wind, it's crucial to ensure that your insurance coverage includes weather-related risks. - read more
|Cyber Liability Insurance: A Must-Have for SMEs in the Digital Age.|
16 Mar 2023: .financialservicesonline.com.au
Small and medium-sized enterprises (SMEs) in Australia should take cyber liability insurance more seriously, according to Jane Mason, head of product, channels and risk at insurance brokerage and consultancy BizCover. Cybercrime incidents in Australia are on the rise, occurring every seven minutes on average during FY22, one minute faster than the previous year. - read more
|Life insurance industry hit hard by $6.6 billion investment losses|
10 Mar 2023: .financialservicesonline.com.au
The Australian Prudential Regulation Authority (APRA) has released its latest industry update, revealing a significant slump in net profit after tax for the life industry in Australia. The industry suffered a 59.3% decrease in net profit after tax to $500 million for the year ending December, primarily due to investment losses of approximately $6.6 billion. - read more
|Strengthening Cyber Security: A Fundamental Priority for Australia|
07 Mar 2023: .financialservicesonline.com.au
The Australian Government is currently soliciting feedback until mid-April for the creation of a 2023-2030 Australian Cyber Security Strategy. The move comes after a roundtable discussion led by Prime Minister Anthony Albanese, who aims to make Australia “the most cyber secure nation.” - read more