Australian life insurers have been urged to step up and improve support for customers experiencing domestic violence amid warnings that perpetrators are using life insurance policies to financially abuse victims.
Superannuation,and insurance inside super,are caught in a tangled web of rules that many people don’t know about until they’re trapped too.
ASIC believes the scale of alleged failings at $94-billion super fund Cbus are a broader industry issue,and it’s flagged there could be more “enforcement action to follow”.
People who undergo genetic testing for medical purposes will never be obliged to share their results with insurers,and insurers will not be allowed to ask.
Concerns about how life insurance deals with genetic testing are deterring people from getting important tests. Even the industry welcomes government intervention.
Hundreds of thousands of workers continue to be owed super – and it could have more dire consequences than having less money in retirement.
Cherelle Bailey is one of a growing number of Australians facing long delays to claim death benefits and insurance from super funds.
Three insurance firms have been penalised for using “high-pressure tactics” and a former managing director banned from managing corporations for five years.
The regulator says HCF Life’s policies suggest a consumer could be denied coverage for a pre-existing condition even if they didn’t know they had it when taking out cover.
You must examine your situation and ask yourself how your family would get on if you died,became disabled or came down with a critical illness.