Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated March 2026 In early 2026, Terry — a computer technician based in New South Wales — received an annual renewal notice from AIA showing his life and TPD insurance premiums increasing from $5,637 to $7,885 per annum: a jump of $2,248, or 39.9%, in a single year. Terry holds $2,600,000 of life cover and $1,700,000 of TPD cover, both inside his self-managed superannuation fund (SMSF). Both pol

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | March 2026 Australia's life insurance industry operates under one of the most robust regulatory frameworks of any financial sector in the country. In the 2024–25 financial year, 97.2% of advised death cover claims were paid. Income protection claims on advised retail policies were accepted at 94.4%. The system, on the whole, works — and understanding why it works matters more to policyholders tha

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Last updated: 13 March 2026 Under the Life Insurance Code of Practice (Council of Australian Life Insurers, 2021) and the Insurance Contracts Act 1984 (Cth), Australian life insurance policyholders have access to five key regulatory protections: (1) the right to seek a written explanation for any premium increase, as required under the Life Insurance Code of Practice (CALI, 2021); (2) the right t