Category | Superannuation

Group Life to Become Opt-In for All Younger Members

All group life insurance will be offered on an opt-in basis for members under the age of 25 as part of new Federal Budget measures to prevent the erosion of superannuation balances by insurance premiums. (more…)

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0 · May 8, 2018 in Superannuation  

Super Trustees Urged to Adopt Life Insurance Code

The deputy chair of the life insurance regulator has called on superannuation trustees to adopt the Insurance in Super Working Group (ISWG) Code of Practice well ahead of its 2021 final adoption date. (more…)

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1 · March 13, 2018 in Compliance & Regulation, Superannuation  

Super Fund to Reduce Premiums by $100 Million

AustralianSuper will reduce risk insurance premiums for its members by up to 20 per cent and reduce the overall levels of premiums paid by $100 million over the next financial year. (more…)

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7 · February 16, 2018 in Products, Superannuation  

Super Fund Removes Insurance From New Product Offering

AustralianSuper has removed default life insurance from a new superannuation product that will be available to short term employees, in an effort to avoid erosion of fund balances due to insurance premiums. (more…)

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0 · January 16, 2018 in Company News, Products, Superannuation  

Adviser Receives EU Over Insurance Switching Advice

ASIC has accepted an enforceable undertaking (EU) from a NSW adviser after it found he switched insurance and superannuation for clients without considering their current arrangements. (more…)

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0 · December 19, 2017 in Compliance & Regulation, Superannuation  

Advice Leading Trigger for Review of Insurance Inside Super

Financial advice has been found to be the leading cause of people taking action to review their life insurance inside a superannuation fund, according to research conducted by MetLife. (more…)

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1 · December 12, 2017 in Services, Superannuation  

News in Brief

ASIC Imposes Conditions on MyPlanner Licence; TAL Offers Insurance Education to Super Funds; Life Announces First Roll-Out of Group Life Platform (more…)

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0 · December 5, 2017 in Compliance & Regulation, Products, Superannuation  

News in Brief

ANZ Wealth Insurance Portal Goes Mobile; MLC Life Named as Super Fund Insurer (more…)

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0 · November 21, 2017 in Company News, Superannuation, Technology  

Life Insurance Inquiry Reporting Date Extended Again

The Parliamentary Joint Committee (PJC) Inquiry into the Life Insurance Industry will now release its final report in early December after it was granted a second extension to its reporting date by the Senate. (more…)

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0 · October 24, 2017 in Claims, Compliance & Regulation, Products, Superannuation, Underwriting  

Super Fund Code to Cap Premium Prices

Super funds offering life insurance will be required to stop deducting premiums after a member’s contributions cease, and cap premiums in line with the earnings of members, according to a new draft Code of Practice. (more…)

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0 · September 21, 2017 in Associations, Products, Superannuation