Cancer patients 'taking advantage' of life insurance
A SENIOR analyst with the Commonwealth Bank's insurance arm has accused some cancer patients of "taking advantage" of life insurance by setting up policies soon before they die.
Speaking at an Association of Superannuation Funds of Australia luncheon in Brisbane last week, Annette Torrington, a senior product manager with CommInsure, a subsidiary of the Commonwealth Bank, left some attendees "appalled" over some of the examples used to make her points.
Talking to about 200 Queensland super fund and insurance representatives about challenges faced by the industry, Ms Torrington was said to have spoken about cancer patients taking advantage of generous policy conditions by taking out life insurance policies which did not rely on medical checks before dying.
Another client with mental health issues was said to have made a career out of claiming from his income protection policies.
Media representatives for Commonwealth repeatedly told Fairfax Media Ms Torrington's comments had been "taken out of context" but refused to elaborate.