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Insurance News

Regulatory Bodies Demand Clarity on Duration-Based Insurance Premiums Regulatory Bodies Demand Clarity on Duration-Based Insurance Premiums
06 Jun 2025: Paige Estritori

Australia’s leading financial regulators, the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA), have raised concerns regarding the practice of duration-based pricing in life insurance products. They have emphasised the need for insurers to improve transparency, ensuring that consumers are fully informed about the long-term costs associated with initial premium discounts. - read more
Young Driver Left Uncovered Due to Policy Misstep Young Driver Left Uncovered Due to Policy Misstep
05 Jun 2025: Paige Estritori

A policyholder faces a denied claim after inadvertently excluding his newly licensed 21-year-old son from his car insurance policy, highlighting a common oversight in age-specific exclusions. Following a collision involving his son, who recently earned his licence, Hollard Insurance declined the claim based on policy terms that excluded drivers under 25, unless accompanied by a qualified adult. - read more
NSW Floods Highlight Critical Insurability Crisis NSW Floods Highlight Critical Insurability Crisis
05 Jun 2025: Paige Estritori

Recently, New South Wales has been severely affected by major floods, with damages to around 10,000 homes and businesses. The Insurance Council of Australia has already received over 6,000 claims from the Mid North Coast and Hunter regions, while countless families face displacement as their homes become uninhabitable. - read more
Ride-Share Driver Prevails in Insurance Dispute Over Vehicle Use Ride-Share Driver Prevails in Insurance Dispute Over Vehicle Use
04 Jun 2025: Paige Estritori

A ride-share driver recently won a significant claim dispute against an insurer that initially denied his claim following a traffic accident. The Australian Financial Complaints Authority (AFCA) sided with the driver, determining that Auto & General could not prove he misrepresented his vehicle use when purchasing his insurance policy. - read more
Streamlining Life Insurance: New Digital Questionnaire Initiative Launched Streamlining Life Insurance: New Digital Questionnaire Initiative Launched
04 Jun 2025: Paige Estritori

In a groundbreaking development for the Australian life insurance sector, a new digital initiative promises to simplify the process of providing medical information for life insurance applications. The collaboration between Acenda, formerly known as MLC Life, and EQ Pathology introduces “smart” digital questionnaires to streamline data collection. - read more
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Life Insurance Articles

Income Safety Net: How to Choose the Right Income Protection for Your Lifestyle Income Safety Net: How to Choose the Right Income Protection for Your Lifestyle
In the face of life's unpredictable twists and turns, few things are as disconcerting as the possibility of suddenly losing your ability to earn an income due to illness. Such events are often unexpected and can have significant financial repercussions that interrupt not only your flow of daily life but also compromise your future plans. - read more
From Illness to Injury: Understanding the Scope of Income Protection Insurance From Illness to Injury: Understanding the Scope of Income Protection Insurance
In the uncertain times we face today, where both health and economic climates are unpredictable, safeguarding your financial stability becomes paramount. This is where income protection insurance steps in as an essential safety net. For many Australian families, it's the buffer that ensures life's financial commitments are met, even when ability to work is compromised. - read more
How Accidental Income Protection Insurance Can Provide Peace of Mind How Accidental Income Protection Insurance Can Provide Peace of Mind
Accidental income protection insurance is a type of policy that provides financial support if you are unable to work due to an accident. Unlike regular income protection insurance, which can cover illnesses and injuries, this specific insurance focuses solely on accidents. - read more
Income Protection Insurance: Understanding Waiting Periods and Benefit Periods Income Protection Insurance: Understanding Waiting Periods and Benefit Periods
Income protection insurance is a financial product designed to support individuals in the event that they are unable to work due to illness or injury. This type of insurance provides a regular income, helping to replace a portion of lost earnings and meet daily living expenses. Virtually anyone earning an income, especially those with financial dependents or significant debts, should consider the peace of mind that income protection can offer. - read more
How to Compare Income Protection Policies When You Have a Medical History How to Compare Income Protection Policies When You Have a Medical History
In today's ever-changing world, financial security is a cornerstone of peace of mind, particularly for Australians grappling with medical histories. Income protection insurance emerges as a pivotal solution, safeguarding not only the individual’s fiscal health but the well-being of their dependents. This introduction explores the nuances of income protection insurance and its particular significance for those with pre-existing medical conditions. - read more
Finding Accidental Coverage When Comprehensive Income Protection Isn't an Option Finding Accidental Coverage When Comprehensive Income Protection Isn't an Option
Income protection is an integral part of maintaining your financial security, especially in the event that unforeseen illnesses or injuries prevent you from working. Enabling you to receive a percentage of your regular income, this type of insurance provides a safety net, ensuring that you can continue to cover your living expenses and financial obligations whilst recovering. - read more
Combining Financial Security and Affordability: Income Protection for Australians Explained Combining Financial Security and Affordability: Income Protection for Australians Explained
Financial security is a cornerstone of peace of mind, particularly when life is known for its unpredictability. This introductory section sheds light on the vital nature of income protection insurance and its role in safeguarding Australians' financial well-being. Ensuring continual financial inflow during times of illness or injury not only offers stability but also protects one's standard of living. - read more
Separating Fact from Fiction: The Myths of Income Insurance Revealed Separating Fact from Fiction: The Myths of Income Insurance Revealed
Have you ever thought about how you would manage financially if you couldn't work due to an illness or injury? Income protection insurance is designed to replace a significant portion of your income if you find yourself unable to earn for an extended period. It's an essential safety net, providing peace of mind and financial stability during times of uncertainty. - read more
Income Protection vs. Life Insurance: What's Best for You? Income Protection vs. Life Insurance: What's Best for You?
Financial protection is an essential aspect of sound financial planning. It ensures that you and your family are safeguarded against unexpected events that could lead to financial hardship. Two common types of financial protection are income protection insurance and life insurance. - read more
How to Compare Income Protection Insurance for Self-Employed Australians How to Compare Income Protection Insurance for Self-Employed Australians
For self-employed Australians, the financial stability provided by consistent income is the backbone of both personal and business success. Unlike traditional employees, who might have access to sick leave or employer-sponsored disability benefits, self-employed individuals are solely responsible for their financial security in the event of illness or injury. This is where income protection insurance steps in as a crucial safeguard. - read more


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Insurance broker:
An agent acting on behalf of the insured (not the insurance company) who negotiates the terms and cover provided by the insurer in the insurance policy.