Income Insurance Australia :: Podcasts

Income Insurance Australia Weekly News insights

Each week, we sift the Australian income protection landscape: policy and regulation updates, insurer moves, claim trends, and workplace risk stories. Get clear, plain-English takeaways, myth-busting context, and what changing rules may mean for employees, sole traders, and gig workers. It’s a trustworthy, industry-specific news wrap to keep your household income know-how sharp without the jargon. Expect concise interviews and pointers to credible sources so you can stay prepared.

This Week:

This week: an interim review of the Life Insurance Code proposes tougher claims‑handling rules, clearer premium change disclosure, and stronger sanctions, with mental health a key focus. The government opened consultations to ban deducting advice fees from super when switching, add a potential five‑day cooling‑off period, and crack down on lead generators. AIA launched short form underwriting to transfer eligible group cover into retail on platform, helping members keep life, TPD and income protection when consolidating super. Listeners are urged to review mental‑health terms, waiting and benefit periods, and confirm what happens to insurance before switching super.

Read Full Transcript:

Hello and welcome to Income Insurance Australia Weekly News insights, Im Paige Estritori, and its Sunday, 12 April 2026. First up, the interim review of the Life Insurance Code of Practice landed this week. It proposes tighter claims‑handling standards, clearer disclosure when premiums change, and stronger sanctions for breaches. Mental health is a major focus, with debate over how standard policies should treat mental‑health conditions. Feedback is open until 8 May, with a final report due by 30 June. If you rely on income protection, nows a good time to check your policys mental‑health terms, waiting period, and benefit period so cover lines up with your work and cash‑flow needs. Next up, the government has put fresh reforms on the table to curb poor super switching practices. Proposals include banning advice fees being deducted from your super when the advice recommends a switch, a possible five‑day cooling‑off period for switching, and a crackdown on lead generators and cold calls. Consultations run until 22 May. For anyone with default insurance inside super, take a pause before moving funds. Confirm what happens to your death, TPD, or income protection cover, and how youll pay any advice fees. Meanwhile, a new transfer pathway aims to make it easier to keep your insurance when you consolidate super. AIA Australia has introduced short form underwriting to move eligible group cover into a retail policy on platform. If youre under 55 and already hold life, TPD and income protection, you may be able to transfer with a four‑question personal statement, subject to limits of about $350,000 for life and TPD and $5,000 a month for income protection. This is designed to help avoid losing cover because of low balances or inactive accounts. If youre rolling super, ask whether a transfer like this is available, and make sure the limits, waiting period, and benefit period fit your income and occupation. Thats the wrap. For clear, tailored help comparing income protection and making sure your cover keeps pace with your life, visit income-insurance.com.au.

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