Income protection insurance- Customers urged to ac

2022-04-05
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Income protection insurance: Customers urged to act before Oct 1 changes - Today News Post News Today || Headlines Today

Australians keen to take out income protection insurance are being told to act sooner rather than later before sweeping changes in OctoberThe coronavirus pandemic has given science a platform unseen for several decades and want to leverag.

Financial regulator APRA announced a series of reforms in 2019 to ensure the long-term viability of the life insurance sector after it lost about $3.4 billion over five years through the sale of income protection insurance.

The reforms reduce the amount of benefits available to policy holders and many must be implemented before October 129-May.

But customers who take out a policy before then have a good chance of locking in more generous termst adequately account for waning immunity and new virus variants. No more than 40% o.

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