Personal Insurance Price Rises

With increased pressure facing the Life Insurance industry, have you reviewed the suitability of your personal insurance policies?

Over the last 3 years the Life Insurance Industry has been under significant pressure in terms of claims. The claims have come as a result of a number of factors including:

  • No Win No Fee Solicitors writing to all previous claimants to review and potentially claim insurance within superannuation.
  • An increase in mental health related claims.
  • Default Superannuation Funds having previously given insurance without medical questions.

As a result of claims, it has led to a general increase in Life and Disability Insurance Premiums

In reviewing whether an Insurance Policy is still suitable there are a number of factors that clients need to consider, including:

  • Change in personal circumstances
  • Insurance Policy Quality
  • Future Projected Premiums
  • Future Insurability

Hamilton Morello have three Financial Planners; Nick, Ryan and Sandy, whom are all experienced all delivering personal Insurance Advice to clients.