- Yes (70%)
- No (19%)
- Not sure (11%)
During a week in which the Government has signalled its intention to reduce tax concessions for those holding more than $3 million in their superannuation funds, it seems advisers remain concerned about the future role that life insurance will play in the super sector.
As we go to print, more than seven in 10 advisers (73%) have concerns about the lack of reference to life insurance or protection in the Government’s ‘objective of superannuation’ discussion paper.
While it’s not part of the main debate currently raging over what appears to represent a philosophical shift in the nature and purpose of superannuation in this country, the lack of reference to, or acknowledgement of, the critically important role of life insurance inside the superannuation environment has more than raised the eyebrows of many in the financial advice sector.
As we reflected last week, CALI’s statement in support of the role played by life insurance inside super, released immediately following that of the objective of superannuation consultation paper, appears to suggest the new life insurance peak body holds similar concerns to those who have voted in this pole. And the question remains as to whether these concerns are misplaced or whether they will be proven to be correct (see also: Insurance in Super Critical to a Dignified Retirement – CALI).
Our poll remains open for another week and we welcome your thoughts…
