Insurance

Potential payday for purchasers of Tower book

Monday 9th of July 2018

Foundation bought Tower Life's remaining life business for $36 million in 2014.

There are 41,000 policyholders, who have been contacted about the plan and its effect on their whole-of-life policies. Some were sold in the 1970s and 1980s.  

Foundation Life has built up substantial assets from policyholders' premiums. If the plan goes ahead, its seven shareholders could re...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.