- AustralianSuper Announces Reduction in Default Income Protection Cover
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.
- AIA Australia Introduces Enhancements to Priority Protection Insurance
AIA Australia has recently updated its Priority Protection life insurance suite, introducing changes designed to simplify discounts, enhance policy clarity, and support premium affordability. These enhancements, effective from 9 November 2025, reflect AIA's commitment to providing value-driven solutions for policyholders.
- Rising Insurance Costs Impact Australian Retirees' Financial Stability
Recent reports have highlighted a concerning trend affecting Australian retirees: the escalating cost of insurance premiums is placing significant financial strain on individuals living on fixed incomes. Over the past five years, the average cost of home insurance in Australia has increased by 51%, according to analytics firm Finity.
- AIA Australia's Latest Enhancements to Priority Protection Insurance
AIA Australia has recently updated its Priority Protection life insurance suite, introducing changes designed to simplify discounts, enhance policy clarity, and support premium affordability. These enhancements, effective from 9 November 2025, reflect AIA's commitment to providing value-driven solutions for policyholders.
- Australia's Life Insurance Coverage Falls Short of Global Standards
Recent findings from a survey conducted by Zurich and the University of Oxford reveal that Australia has one of the lowest life insurance penetration rates globally. The study indicates that only 27% of Australians have income protection insurance, and 25% possess life insurance coverage.
- Zurich's Pioneering Women's Health Benefit in Income Protection
Zurich has introduced a groundbreaking Women's Health Benefit within its Corporate Care Income Protection product, marking the first dedicated corporate income protection benefit in Australia designed specifically for female health conditions and events.
- Navigating Rising Premiums and Cybersecurity Risks in Australia's Insurance Sector
As we progress through 2026, Australia's insurance industry is grappling with significant challenges that are reshaping the landscape for both insurers and policyholders. Two primary concerns have emerged at the forefront: the affordability of premiums and the escalating threat of cyber incidents.
- New Legislation Prohibits Life Insurers from Using Genetic Test Results
The Australian government has enacted legislation prohibiting life insurers from using the results of genetic tests to refuse coverage or increase premiums. This landmark decision aims to eliminate genetic discrimination and encourage individuals to undergo potentially life-saving genetic testing without fear of financial repercussions.
- AIA Australia Introduces Enhancements to Priority Protection Life Insurance
AIA Australia has announced significant updates to its Priority Protection life insurance suite, effective from 9 November 2025. These enhancements are designed to simplify discounts, improve policy clarity, and support premium affordability for policyholders.
- Decline in Life and Income Protection Insurance Premiums Benefits Australians
Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024.
- AustralianSuper Announces Reduction in Default Income Protection Cover
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.
- APRA Postpones Changes to Individual Disability Income Insurance Policy Terms
The Australian Prudential Regulation Authority (APRA) has announced a suspension of the planned changes to individual disability income insurance (IDII) policy contract terms.
- AFCA Upholds Policyholder's Income Protection Benefits Against Zurich
The Australian Financial Complaints Authority (AFCA) has recently ruled against Zurich Insurance, instructing the insurer to maintain the current income protection benefits for a policyholder after an 11-year delay in proposing a reduction. This decision underscores the critical importance of timely and transparent communication between insurers and their clients.
- Neos Recognized as Leading Income Protection Insurer in 2025
In the 2025 Life Insurance Awards presented by Money Magazine, Neos has been honored as the top provider in the Income Protection Insurance category. This accolade reflects Neos's commitment to delivering comprehensive and reliable income protection solutions to Australians.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks.
- Surge in Mental Health Claims Puts Pressure on Australia's Insurance Industry
Australia's insurance sector is facing unprecedented challenges as mental health conditions have become the leading cause of total and permanent disability (TPD) claims. Recent data from the Council of Australian Life Insurers (CALI) reveals that mental health issues now account for nearly one-third of all TPD claims paid out.
- Rest Super Faces Class Action Over Alleged Wrongful Deduction of Income Protection Premiums
Shine Lawyers has initiated class action proceedings in the Federal Court against Rest Superannuation, alleging that the fund wrongfully deducted income protection premiums from members' accounts between December 2008 and June 2019. The lawsuit claims that up to 500,000 Rest members may have been affected by these deductions.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a strategic move to enhance the value of its offerings, TAL has announced the expansion of its Health Sense Plus program to encompass income protection insurance. This initiative, effective from 8 August 2025, aims to incentivise proactive health management among policyholders by providing premium discounts.
- Rising Mental Health Claims Reshape Australia's Insurance Landscape
Australia's insurance sector is experiencing a significant shift as mental health conditions become the predominant cause of total and permanent disability (TPD) claims.
- APRA Calls for Reforms in Income Protection Insurance Sector
The Australian Prudential Regulation Authority (APRA) has raised concerns about the sustainability of income protection insurance, following industry losses amounting to $2.5 billion over five years. APRA has urged life insurers to implement reforms to enhance the viability of these products and ensure they continue to meet policyholders' needs.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks.
- New Legislation Prohibits Life Insurers from Using Genetic Test Results
The Australian government has enacted legislation prohibiting life insurers from using the results of genetic tests to refuse coverage or increase premiums. This landmark decision aims to eliminate genetic discrimination and encourage individuals to undergo potentially life-saving genetic testing without fear of financial repercussions.
- Calls for Super Funds to Accelerate Mental Health Insurance Claims Processing
Consumer advocates are raising concerns over significant delays in processing mental health-related insurance claims by Australian superannuation funds. As mental health conditions become a leading cause of total and permanent disability (TPD) claims, the efficiency of claim processing has come under scrutiny.
- Australian Super's Claim Delays Raise Concerns Among Members
Australian Super, one of the nation's largest superannuation funds, is facing criticism over significant delays in processing insurance claims, particularly those related to income protection and total and permanent disability (TPD). Members have reported prolonged waiting periods, leading to financial hardships and uncertainty.
- Australian Life Insurers Report Significant Profit Increase in June 2025 Quarter
The Australian life insurance sector has reported a substantial after-tax profit of $360 million for the June 2025 quarter, marking a significant increase from the $116 million recorded in the same period the previous year.
- Rising Mental Health Claims Impact Australian Life Insurance Industry
The Australian life insurance industry is witnessing a significant surge in mental health-related claims, reflecting broader societal challenges and increasing awareness of mental health issues. AIA Australia, a leading life insurer, has reported that mental health claims now account for 23% of its total claims, up from 15% in 2014.
- Decline in Australian Life and Income Protection Insurance Premiums
Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024.
- Australian Life Insurance Premiums Set for 1.7% Growth in 2025
According to a recent report by Swiss Re, Australia's life insurance market is projected to experience a 1.7% real growth in premiums in 2025. This anticipated increase is attributed to easing cost-of-living pressures and the repricing of disability income policies.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivize proactive health management by offering premium discounts to clients who engage in preventive health checks.
- Rising Mental Health Claims Reshape Australia's Insurance Landscape
The Australian insurance industry is witnessing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims.
- Australian General Insurers Achieve $6 Billion Profit Amid Fewer Natural Disasters
In a remarkable turnaround, Australian general insurers have reported a combined profit of $6.1 billion over the past year. This substantial increase is attributed to a period of relative calm in natural catastrophes and robust investment returns.
- Australian Life Insurers Under Review for Mental Health Exclusion Practices
Recent findings have revealed that certain Australian life insurers continue to implement blanket exclusions for mental health conditions, a practice that contravenes the industry's code of practice. This has raised significant concerns about the fairness and legality of such exclusions.
- Surge in Mental Health Claims Reshapes Australia's Insurance Landscape
Australia's insurance industry is experiencing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims.
- Australian Insurance Premiums See Notable Decrease
Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks.
- Decline in Life and Income Protection Insurance Premiums Benefits Australians
Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024.
- TAL's Health Sense Plus Now Covers Income Protection Policies
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks.
- AFCA Criticises TAL for Unfair Termination of Income Protection Benefits
The Australian Financial Complaints Authority (AFCA) has recently ruled against TAL, a prominent life insurer, for terminating a policyholder's income protection benefits without prior notice. This decision underscores the critical importance of procedural fairness in the management of insurance claims.
- Actuaries Institute Highlights Financial Strain of Mental Illness on Insurance Systems
The Actuaries Institute has issued a call for immediate action to address the escalating financial strain that mental illness is placing on Australia's insurance and compensation systems.
- Fitch Ratings Anticipates Continued Premium Increases in Australian Insurance Sector
Fitch Ratings has projected that Australian insurers will continue to implement premium increases, with gross written premiums expected to grow by mid to high single digits. This forecast is driven by the need to offset rising claims and increased allowances for natural hazards.
- TelstraSuper Announces Decrease in Income Protection Insurance Premiums
TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members. Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing.
- Australian Income Protection Insurance Sales Experience Downturn
Recent data from Plan For Life indicates a sharp decline in individual income protection insurance sales in Australia, with new risk income sales experiencing an 8.3% downturn in the year ending September 2024. This contrasts with previous periods of growth, highlighting shifting dynamics within the insurance market.
- Surge in Mental Health Claims Reshapes Australia's Insurance Landscape
Australia's insurance industry is experiencing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims.
- Australian Super's Claim Delays Raise Concerns Among Members
Australian Super, one of the nation's largest superannuation funds, is facing criticism over significant delays in processing insurance claims, particularly those related to income protection and total and permanent disability (TPD). Members have reported prolonged waiting periods, leading to financial hardships and uncertainty.
- New Legislation Prohibits Life Insurers from Using Genetic Test Results
The Australian government has enacted legislation prohibiting life insurers from using the results of genetic tests to refuse coverage or increase premiums. This landmark decision aims to eliminate genetic discrimination and encourage individuals to undergo potentially life-saving genetic testing without fear of financial repercussions.
- TAL's $4.7 Billion Payout Reflects Rising Insurance Claims in Australia
Leading Australian life insurer TAL has reported a substantial $4.7 billion in life insurance claims paid over the 12 months ending March 31, 2025. This figure underscores the significant role life insurers play in providing financial support to Australians during challenging times.
- Encompass Protection Recognized as Best Income Protection Provider in 2025
Encompass Protection has been honored with the Income Protection Insurance Award at the 2025 Money Magazine Life Insurance Awards. This accolade reflects the company's commitment to providing exceptional coverage and service to Australians seeking income protection solutions.
- Rising Mental Health Claims Reshape Australia's Insurance Landscape
Australia's insurance sector is experiencing a significant shift as mental health conditions become the predominant cause of total and permanent disability (TPD) claims.
- Surge in Mental Health Claims Puts Pressure on Australia's Insurance Industry
Australia's life insurance sector is facing unprecedented challenges as mental health conditions have become the leading cause of total and permanent disability (TPD) claims. Recent data from the Council of Australian Life Insurers (CALI) reveals that mental health issues now account for nearly one-third of all TPD claims paid out.
- Rest Super Faces Class Action Over Alleged Wrongful Deduction of Income Protection Premiums
Shine Lawyers has initiated class action proceedings in the Federal Court against Rest Superannuation, alleging that the fund wrongfully deducted income protection premiums from members' accounts between December 2008 and June 2019. The lawsuit claims that up to 500,000 Rest members may have been affected by these deductions.
