disabled

Industry View

Too ill to be disabled?

Whenever definitions in a total and permanent disability (TPD) insurance policy are amended to reduce premiums it’s certain the change will cost someone something. The question for trustees is whether the cost will be paid fairly and by the correct parties. One approach currently in favour with insurers is to insert a clause into policies […]
Insurance

Discovering dignity

“How can invalidity claims be managed – applying strict, legalistic definitions – and yet reduce anxiety and defuse anger as such processes provoke?” I addressed this question at the recent Conexus Financial Group Insurance Summit, where I explored how I reviewed an invalidity-claims process for a public sector super fund, leading to a halving of […]
Investment Strategy

REST’s group insurance revolution: death and TPD separated

Industry fund REST Super revolutionised its insurance offering in December by unhooking death cover from total and permanent disability (TPD), coming closer than any fund has thus far to solving the problem of creating a default cover to suit a diverse membership. REST’s chief executive Damian Hill described the fund’s redesign of its insurance offering […]
Investment Strategy

REST’s group insurance revolution: death and TPD separated

Industry fund REST Super revolutionised its insurance offering in December by unhooking death cover from total and permanent disability (TPD), coming closer than any fund has thus far to solving the problem of creating a default cover to suit a diverse membership. REST’s chief executive Damian Hill described the fund’s redesign of its insurance offering […]