POWERED BY MOMENTUM MEDIA
Equipsuper lowers insurance premiums
Equipsuper announced it is lowering premiums for most of its members bar a few corporate plans.
Equip Personal members will benefit most, as their premiums are slashed by 23 per cent for death and total and permanent disablement (TDP) cover, and 17 per cent on salary continuance cover.
Most of Equip's corporate membership received a cut on death and TDP and/or salary continuance premiums.
The fund's chief executive officer Danielle Press said the reductions come after a thorough examination of the fund's member needs and behaviours on insurance and its relationship with Equip's primary underwriter, Hannover Life Re of Australasia.
"To have reduced our premiums without having to compromise the overall features and benefits of our cover is an outstanding outcome for our members given the plethora of bad news on insurance premiums announced in recent months by other funds," Press said.
She added insurance is an important "differentiator" for Equip in the age of MySuper and helps retain members as they change jobs.
Recommended for you
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TAL has launched a digital solution TAL Connect for its superannuation fund partners that links super and insurance for members, with Aware Super as its launch partner.
The Federal Court has ruled in favour of QSuper regarding non-payment of a total and permanent disablement benefit to a member.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment