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Below are significant news alerts for Australian Small Business OwnersSapience Financial wisdom knot outline

Significant changes are being imposed by the government regulator Australia Prudential Regulation Authority (APRA) for all new Income Protection insurance policies

  • From April 2020 Life Insurance companies can no longer offer new Agreed Value Income Protection policies. This is just one of many new changes being imposed by the government regulator APRA.

Implications for existing Sapience clients:

  • Existing Sapience clients with pre-existing Agreed Value Income Protection insurance policies in force, will not be affected in any way.

Additional information

  • You can read more about the legislation on the APRA websites here.
  • You can read more about the practical effects of this change in our Blog here.

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