Category | Superannuation

Top Tips From Integrity Life Over PYSP Life Insurance Changes

Integrity Life has weighed into the impending Protecting Your Superannuation Package (PYSP) reform commentary, issuing its top tips to help super fund members prepare for the reforms. (more…)

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0 · June 10, 2019 in Company News, General, Superannuation  

AIA Campaign to Protect Life Cover in Super

AIA Australia has joined forces with two of its superannuation partners to launch a national public awareness campaign intended to alert Australians to their potential loss of life insurance cover brought about by impending changes to superannuation laws. (more…)

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2 · June 3, 2019 in Company News, General, Superannuation  

Advisers Cautioned on Potential Insurance Cancellations Inside Super

The AFA has alerted its members to the possibility that some of their clients’ life insurance policies inside superannuation funds may start to be cancelled from as early as 1 July this year. (more…)

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5 · May 27, 2019 in Associations, Compliance & Regulation, Superannuation  

Move Towards Universal Insurance Definitions in MySuper

The Government is seeking industry consultation on the prospect of mandating universal insurance definitions, terms and exclusions within MySuper products. (more…)

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1 · March 31, 2019 in Compliance & Regulation, Products, Superannuation  

NEOS Introduces Online Alteration Capability

NEOS Life has launched an online alteration capability to its services and in its first phase will provide the ability for advisers to transfer the ownership of an existing policy inside, or outside of superannuation, using the same application process as for new business. (more…)

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0 · December 11, 2018 in Products, Services, Superannuation, Technology, Underwriting  

AIA Asks Senators to Reconsider Group Life Opt-In

AIA Australia has written to Senators asking them to reconsider moves by the Federal Government to make group life insurance inside super an opt-in arrangement for people aged under 25. (more…)

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0 · November 13, 2018 in Compliance & Regulation, Products, Superannuation  

AMP Deducted Premiums From Deceased Policy Holders

AMP has told the Banking Royal Commission that it deducted life insurance premiums from the superannuation accounts of people who have died, even when notified of the person’s death, and repaid the premiums from the death benefit. (more…)

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· September 17, 2018 in Compliance & Regulation, Products, Services, Superannuation  

Royal Commission Will Not Examine Life Insurance Advice

Financial advice related to life insurance will not be examined during the current round of hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)

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1 · September 10, 2018 in Claims, Compliance & Regulation, Products, Remuneration, Services, Superannuation  

Group Life Code of Practice Too Weak to be Effective

The current voluntary code of practice covering life insurance inside superannuation is too weak at present to be effective and should be made mandatory for all superannuation trustees, according to ASIC. (more…)

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0 · September 7, 2018 in Compliance & Regulation, Superannuation  

MetLife Australia Launches Claims Platform

MetLife Australia has released a digital life insurance claims platform which it has launched with a public offer industry fund in South Australia. (more…)

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0 · August 28, 2018 in Services, Superannuation