A common question we are receiving is ‘are we covered if we suffer a side-effect from the Covid-19 vaccine?’ Seven of Australia’s largest life insurers are joining forces in support of Australia’s Covid-19 vaccine program. The insurers involved are: AIA Australia ClearView MetLife MLC Life Insurance Resolution Life (acquired AMP Life in July 2020) TAL … Read more
Zurich’s move to support COVID-19 vaccinations Zurich is giving COVID-19 vaccination protection for life insurance customers at no extra cost Zurich is giving COVID-19 vaccination protection at no extra cost to everyone insured under an eligible life insurance policy. An additional amount will be paid to customers who can claim under their insurance because of … Read more
Income Protection Contract Term Extension Income Protection Contract Term – APRA Gives Insurers One Year Extension The corporate regulator (APRA) has given life insurers another year to find a workable solution around applying maximum five-year terms for income protection insurance contracts. The change expected to come into effect from 1 October 2021 has now been … Read more
Upcoming Changes To Individual Income Protection Policies The Australian Prudential Regulation Authority (APRA) has continued its intervention into the Life Insurance industry due to heavy losses incurred from Income Protection policies. Life insurers have lost a combined $3.4 billion over the past 5 years through the sale of Income Protection products to individuals. One major … Read more
No More Agreed Value Income Protection Policies In April 2020, we saw a major change hit the Life Insurance Industry. The Australian Prudential Regulation Authority (APRA) decided to intervene after $3.4 billion plus of losses imposed by insurers from Income Protection products over the proceeding 5 years. APRA’s concerns were over the sustainability of Income … Read more
MICORAH Pty Ltd (AFSL 230219)
Trading as MSB Financial Consultants
2022 © MSB Financial Consultants | Website Designed by Screwloose Digital Hosted by Screwloose IT