RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%

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Example Interest Rates: Home Loan Variable: 5.38% (6.14%*) • Home Loan Fixed: 5.44% (6.26%*) • Fixed: 5.44% (6.26%*) • Variable: 5.38% (6.14%*) • Investment IO: 5.69% (6.52%*) • Investment PI: 5.49% (5.98%*)

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6.8 – The Head of Insurance for REST Superannuation testifies at the Banking Royal Commission

Views 21 Likes 0 Dislikes 0 Published January 1, 2021, 7:19 am

Lachlan Ross, the head of insurance delivery services at industry super fund REST, is being questioned over REST handing back an insurance payout to global insurance company AIA rather than passing it on to a paraplegic because she had not notified the fund that she had ceased working, as well as another REST member who suffered post-traumatic stress disorder stemming from multiple stab wounds and was also denied a payment because his balance fell below A$3,000.

Recorded on 14 and 17 September 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

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Martin is the Managing Director of BeliefMedia Pty Limited, and Australia's leading Finance Marketing Specialist. He is supported by a team of Australia's finest. Read more about Marty here.

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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. [ Example Credit Guide Link ]

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Video Archive

6.8 – The Head of Insurance for REST Superannuation testifies at the Banking Royal Commission

Like this article?

Martin Khoury

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