income protection Phil Thompson income protection Phil Thompson

Four upcoming income protection changes you should know about

Current income protection products are generous, and as a result, insurance companies are losing money. APRA (The insurance regulator) has stepped in to create rules to make insurance policies taken out after 1 October 2021 more sustainable. This means that insurance policies taken out before 1 October 2021 are likely to be better quality policies than covers taken out after the changes.

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