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Insurance News
| Understanding AustralianSuper's Income Protection Reduction 16 Apr 2026: Paige Estritori AustralianSuper, one of Australia's largest superannuation funds, has announced a significant change to its default income protection insurance. Effective from 28 February 2026, the fund will reduce the default income protection cover to $1,000 per month. This adjustment aims to align insurance coverage with members' actual income levels and prevent over-insurance, which can erode retirement savings. - read more |
| CareSuper Enhances Income Protection Benefits for Members 16 Apr 2026: Paige Estritori CareSuper has announced an enhancement to its income protection insurance offerings. Starting 1 April 2026, members can apply for income protection cover up to 87% of their current income, including up to 12% super contributions. This is an increase from the previous limit of 85% of income, which included up to 10% super contributions. - read more |
| APRA Enhances Capital Requirements for Sovereign Insurance Australia 16 Apr 2026: Paige Estritori The Australian Prudential Regulation Authority (APRA) has recently mandated an additional capital requirement of $2 million for Sovereign Insurance Australia Pty Ltd. This directive is part of APRA's ongoing efforts to bolster the financial stability and resilience of insurers operating within Australia. - read more |
| Europ Assistance Australia Enters Market with APRA's Approval 16 Apr 2026: Paige Estritori The Australian Prudential Regulation Authority (APRA) has granted a new general insurance licence to Europ Assistance Australia, marking the company's official entry into the Australian insurance market. This development introduces additional competition and diversity within the sector. - read more |
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Life Insurance Articles
| Covering the Unexpected: A Guide to Trauma Insurance for Australian Families Trauma insurance, also known as critical illness insurance, is a type of coverage that provides a lump sum payment in the event that the insured suffers from a critical illness or injury. Unlike health insurance, which covers medical expenses, trauma insurance is designed to provide financial protection by helping to cover the additional costs associated with recovery from a severe illness or injury. - read more
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| How to Compare Income Protection Policies When You Have a Medical History In today's ever-changing world, financial security is a cornerstone of peace of mind, particularly for Australians grappling with medical histories. Income protection insurance emerges as a pivotal solution, safeguarding not only the individual’s fiscal health but the well-being of their dependents. This introduction explores the nuances of income protection insurance and its particular significance for those with pre-existing medical conditions. - read more
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| How Life Insurance and Estate Planning Work Together for Your Benefit For many Australian families, the concept of estate planning might evoke imagery of vast wealth and complex legal documents, reserved for the very affluent. However, this misconception overshadows the universal importance of having an estate plan, which at its core, is about ensuring your loved ones are cared for and your wishes are honored upon your passing—even if you don't consider yourself wealthy. - read more
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| How to Choose the Right Income Protection Insurance as a Freelancer Income protection insurance is a type of coverage designed to replace a portion of your income if you're unable to work due to illness or injury. It's an incredibly vital form of insurance for freelancers, who may not have the same safety nets as traditional employees, such as paid sick leave or disability benefits. - read more
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Knowledgebase
Grace Period:
A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.
A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.