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Could a Simple Fix Save Australians from Loyalty Taxes?

Could a Simple Fix Save Australians from Loyalty Taxes?

A “loyalty tax” occurs when discounts are offered to new customers while longer-term customers pay more. Often this involves increasing premiums at the first and subsequent renewals. As the NSW government’s Insurance Monitor, charged with making sure insurance companies do not charge unreasonably high prices or mislead policy holders, I have had my office research the prevalence of loyalty t... read more>
Does Your Loyalty Cost You

Does Your Loyalty Cost You

From July 1 there’s a major change in insurance – last year’s premium for home and contents, and for cars, must be displayed on premium renewal notices. Using my powers under NSW legislation, and after a battle lasting several years, I have required this. Seeing the writing on the wall, all insurers and major brands have implemented this charge nationally, affecting almost 10 million hou... read more>
Are You Aware of the Upcoming Life Insurance Changes?

Are You Aware of the Upcoming Life Insurance Changes?

If there’s one important area we can be guilty of overlooking, even avoiding, more than our superannuation and that’s life insurance.  And when that life cover is included within your super it’s easy to naively assume both the payouts will be sufficient and premiums good value. With luck and judgement that might be the case but the costs of life cover are going up, we are all getting ... read more>
July 1 Superannuation Changes That Could Cost You Dearly

July 1 Superannuation Changes That Could Cost You Dearly

Would you open and read a letter if it could save you or your loved ones in the event of a serious accident or worse? I like to think I’d bother, even if it came from my super fund, but most don’t agree as figures around a massive alert being sent out about changes to life insurance have shown. Australian Super sent out notifications to 220,000 members affected by the July 1 changes w... read more>
Flu season is nothing to sneeze at

Flu season is nothing to sneeze at

Has the evil winter witch cast her ugly lurgy spell upon you yet?  Touch wood right now if it hasn’t. For the rest of us, you don’t need to tune into the nightly news bulletins to realise this year is one of the worst flu seasons in recent memory. In fact, you or a loved one is probably clutching for the Kleenex now as you read this. 2017 has seen a record number of influenza cases ... read more>