Some New Zealand Disability Stats
Australian Life Insurance Stats on the Rise

Life Insurance Policy 'Churn' Still a Problem

Last year the Sydney Morning Herald reported that life insurance policy churn is still a problem in Australia.

With rising commission payments, increasing lapse rates and unnecessary product enhancements aimed at encouraging advisers to switch their clients are undermining life insurers' attempts to stop churning, say advisers and ­product providers.

A number of insurers claim that lapse rates had risen to about 19% because of economic pressures, rising premium and competitors grabbing market share.

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