Thursday, 10 March 2016

Commsinsure Life insurance scandal

Comminsure has been in the news for treating life insurance policy holders poorly and for serious misgivings in their policy definitions and claims processes. See article attached below - this article highlights that for many Australians they will only have life insurance via their superannuation fund and many will not even know that they have it. It is important to know that often it is not your superannuation fund that is the insurance provider and that they will outsource this to a 3rd party life insurer such as Comminsure:

It is vital, if you have dependents that rely on you for their financial well-being, that you have some level of life insurance cover to provide for them in the event that you are unable to. Moreover, it is even more important that the life insurance cover that you have in place pays out when it comes time to claim. This is the truest test of the quality on a life insurance policy and is the most important reason that you should engage a financial adviser when choosing your life insurance provider. The following article outlines the role that a financial adviser plays when you are considering your life insurance needs:

This is the link for the ABC Four corners news program that highlighted the poor conduct at Comminsure: ABC I-View

If it has been a while since you reviewed your life insurance policies and you’re unsure what your covered for OR whether you are covered at all then contact my office on 02-84130327 for a free appointment to go over your existing policies and life insurance needs.

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