Australian life industry performance in downward spiral

The Australian life insurance industry‚Äôs performance is in a downward spiral, regulator APRA’S latest data show. A $19bn increase in overall CY19 revenue on CY18, mainly driven by a favourable investment market, was offset by a $17.8bn rise in total expenses and $1.8bn increase in tax expense.

Choice’s TPD junk policy claim based on old data, ignores code of practice improvements: FSC

Financial Services Council (FSC) has refuted consumer advocate Choice’s and its partner advocate Super Consumers Australia’s (SCA) super figures and their claim total and permanent disability (TPD) policies in super are nothing but junk, saying Choice’s figures are based on out-of-date 2016-17 data that ignore “significant” improvements after the Life Insurance Code of Practice came into force.