With all the changes in the insurance and financial advice industry we thought it was important to keep you updated.Life and income insurance in Australia is fundamentally changing!
Collectively the insurance industry lost $2.5 billion in the last two years largely due to unforeseen claims in income protection.
Claims for mental health are skyrocketing.
Premium rates across the industry for income protection, trauma and TPD are on the rise.
The regulator expressed concern some time ago about pricing and in 2020 stepped in to change what insures can offer.