Telstra Super upgrades insurance
Telstra Super has announced further enhancements to its insurance offer, enabling eligible members to increase their level of insurance cover for specified life event occurrences without the need to provide medical evidence.
Members can also now apply to customise their income protection cover benefit and waiting periods, the fund stated.
Under the new life events cover, eligible members of Telstra Super Personal Plus, Telstra Super Corporate Plus and Sensis Super Plus can apply for additional death or death and total and permanent disablement (TPD) cover upon the occurrence of a specified 'life event' which impacts the member's personal or financial situation.
These include the birth or adoption of a child, marriage or the registration of a recognised relationship (including same sex relationships), divorce or the cessation of a recognised relationship, and a new mortgage or home upgrades for a primary residence.
The latest upgrades represent the sixth enhancement the fund has negotiated with its group insurer, Tower, this financial year, and are part of an ongoing process to negotiate better insurance deals for its members, a fund spokesperson said.
Telstra Super's position as the country's largest corporate fund helped provide a platform from which to negotiate better terms, and the fund would be aiming to announce further upgrades in the near future, the fund stated.
Recommended for you
The insurance company has joined this year’s awards as a principal partner.
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
3
DomaCom DFS Mortgage
67.30 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
