Telstra Super has announced increased insurance cover for retail members.
Eligible Telstra Super Personal Plus members will now receive age-based total and permanent disablement (TPD) cover for 92 cents per week, without having to supply medical information.
For members leaving employment with Telstra and transferring to Telstra Super Personal Plus, the cover will be retained without reapplication. Eligible retail members will also receive a 25 per cent increase in death cover.
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.