LIFE INSURANCE REFORMS

A recent report by Australian Securities & Investments Commission has found “significant shortcomings” with how claims are addressed in relation to life insurance.  A report in The Australian reveals the claims and success rates across insurance claims to be staggering.

“A claim on life insurance that was sold “directly” through an insurance website had a 71 per cent higher chance of being denied compared with a policy sold through an adviser. Group insurance claims, sold through superannuation, were 14 per cent more likely to be denied than a claim on an advised policy.”   The Australian

For more information regarding Business or Personal Insurance Advice or for any financial planning advice, contact Liberum Financial on 3233 6470. For more on the report – head to the original article dated 24/11/2016 in The Australian HERE

The information provided is general in nature and does not take into account your particular investment objectives, financial situation or insurance needs; we therefore recommend you seek advice tailored to your individual circumstances before making any specific decisions.  Liberum Financial and its advisers are Authorised Representatives of Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306 Australia Credit Licence No 357306 trading as Fortnum Financial Advisers.

Credit Source Original article:  http://www.theaustralian.com.au/business/financial-services/life-insurance-reforms-cause-stir-in-industry/news-story/d02a0cf1f3281e32754cb2d09d165592