A perennial challenge in making life insurance well understood and embraced by the public is the perceived gap between the promise and what is ultimately delivered when it comes time to claim. This session explored the gaps and how a more universal approach or innovations in terms can help to reduce complexity.
- How does group insurance sit alongside other worker compensation schemes?
- How do we make sure consumers understand the risks when part-time or unemployed?
- Would enforcing the voluntary code improve member outcomes?
Xavier O’Halloran, Director, Super Consumers Australia
MODERATOR: Stewart Hawkins, contributing editor, Investment Magazine
Are funds doing enough to properly explain what their insurance offering is to members?
- Yes: There is enough information already disseminated to members by most funds
- Neutral: The information is available but it should be made simpler
- No: The system is too complex and needs to be simplified.