Sat, 14th Dec 2024

In this week's Insurance News Wrap, it was revealed that term life insurance accounted for 41% of consumer complaints received by the Australian Securities and Investments Commission. A couple also successfully claimed insurance after their car was stolen despite leaving the ignition key in the car. A report from TAL, a life insurance provider, indicates claims related to mental health have outstripped those for physical ailments. Moreover, TAL is now providing psychological assessments and health services to clients. The podcast also highlighted the controversial practice of "product phoenixing" in the health insurance sector and the possible legislative action against it. The episode concluded emphasising consumer grievances, mental health matters, and regulatory accountability in the insurance sector.