Industry superannuation fund, Intrust Super has reduced the premium rates on its life and total disability insurance by seven per cent.
The fund said the new rates will take effect from 1 January 2018 and will be locked in for the next three years.
Intrust Super chief executive, Brendan O’Farrell, said reducing insurance premiums would boost the retirement savings of participating members.
“We are so pleased to have been able to achieve this fantastic outcome again for members. Being able to reduce the income protection premiums in October was a great result. But to also reduce the premiums for our Group Life cover as well, is such an outstanding outcome for our members,” O’Farrell said.
“It is so important to not only protect our members and their families, but also their super balances. Intrust Super continues to work hard to deliver insurance that meets our members’ needs on a cost, coverage and accessibility basis.”
