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Life Insurance News

Nippon Life purchases 80% of MLC

Japan’s largest life insurance company, Nippon Life, has entered into a deal with National Australia Bank to buy 80% of the MLC life insurance business for $2.4 billion. NAB will retain the remaining 20% of the business. The new partnership is expected to take effect…

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TAL & Zurich win top Canstar Awards

Every year Canstar produces their Star Ratings Report for the Life insurance industry.  It is a mammoth research project comparing the policies offered by 13 insurance companies for term life, trauma, TPD and income protection cover. The results for 2015 have TAL and Zurich taking…

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AIA named ANZIIF Life Company of the Year

Winners of the 12th Annual Australian Insurance Industry Awards have been announced by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF). AIA Australia received the award for Life Insurance Company of the Year, making this the third time in the last four…

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Children are top reason for buying insurance

A recent study has shown that the main trigger for taking out life insurance is having children. The survey of 1500 Australians conducted by Asteron Life asked consumers to nominate life events which would prompt them to take out life insurance or income protection.  The…

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New Redundancy Insurance Policy Launched

A new standalone redundancy policy has been launched to fill a gap left by traditional income protection and loan protection policies. Recent analysis by the Weekend Australian on 25th April 2015 revealed 1.2 million Australian workers did not expect to be with their current employer…

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Survey shows Insurance valued but not taken up

Recent research undertaken by insurer TAL has highlighted that while Australians rate the importance of life insurance highly this is not matched by their take-up of this insurance. While 79% of those surveyed rated life insurance, including TPD, income protection and trauma insurance, as important…

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High number of SMSFs have no life insurance

Research conducted by Plan for Life has reported that 84 per cent of SMSF members aged 18 to 64 years do not hold any life insurance. This is in spite of government legislation which imposes an obligation on trustees to consider insurance for their members….

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