ANZ launches OneView mobile access
ANZ Wealth has announced that advisers can now access the OneView Life portal through a mobile device.
AMP launches LIF diagnostic tool
AMP has released a diagnostic tool as part of its LIF recourse hub that aims to help advisers identify areas of business that need attention, and provide a plan on how to prepare their practice for the LIF legislation on 1 January 2018. A number of video tutorials have also been released addressing topics such as target markets, value propositions, and pricing and revenue models.
REST adapts new life insurance model
REST Industry Super has made changes to some of their policies. New members will be able to maintain long-term income protection cover and pay up to 25 per cent less for default life insurance. REST members under the age of 18 will have default life insurance cover removed, but will be supported by an enhanced life-stage insurance offer that can be adjusted according to age. REST has also reduced death and total and permanent disablement premiums for members 18 to 34 years, but long-term income protection will remain unchanged for all members.
HESTA announces life insurance changes
HESTA is enhancing its life insurance offerings by boosting income protection cover to include lump sum provisions to provide eligible members with cash. HESTA has also increased the monthly income protection benefit by 12 per cent.
New life insurer for Vision Super
Vision Super has welcomed MLC Life Insurance as their new provider of life insurance cover to their members for death, income protection, and permanent disablement.
Non-aligned advisers granted access to AMP assessment tool
AMP has released its diagnostic tool that measures how ready advisers are for LIF legislation to advisers outside the aligned advice network.
Mental health focus expanded by TAL
TAL is extending the mental health resources provided to customers in conjunction with the Black Dog Institute and the University of Sydney. TAL’s Health Services Team and academics from the University of Sydney are now examining alternative risk predictors of mental health disorders to provide better care and services to those with mental health claims in future.
BT supports external rehabilitation
BT Financial Group has spent $1.6 million over the past 12 months as part of an external rehabilitation support program designed to return claimants to the level of health they were at before the claim.
AFA consumer magazine
A consumer-focussed magazine has been launched by the Association of Financial Advisers (AFA) on the back of its Your Best Interests (YBI) web and video series. The magazine will be distributed electronically every month.
Advice firm formed by ex-Moneywise pair
Former Moneywise executives Paul Mann and Catherine Navarro co-founded True Direction Financial. The new financial advice firm will focus on providing bespoke services to private clients and the corporate market.
Leadership academy launch by Zurich
NextGen Leadership Academy has been launched by Zurich with the aim of nurturing the next generation of broker leaders.
PJC reporting date extended
The Parliamentary Joint Committee (PJC) will release the final report on the inquiry into the life insurance industry three months after the commencement of the Life Insurance Framework regime. The report will be released on 31 March 2018.
NAB and ANZ cover investigation costs
NAB and ANZ will pay tens of millions each to ASIC to cover the cost of the investigation over the banks’ participation in the bank bill swap rate.
Guidance for FSCP release
Regulatory guidance has been released for the newly-established Financial Services and Credit Panel (FSCP) by ASIC. The guide sets out principles and processes of the FSCP, covering which important matters that will be referred to it to deal with.
ASIC to appoint liquidator to Benchmark Private Wealth Group
ASIC has obtained orders from the Supreme Court of Queensland to appoint Michael McCann as a provisional liquidator to the Benchmark Private Wealth Group. ASIC applied for these orders due to concern solvency concerns about the companies and the management from their director, Liam Young.