Care in bed with Comminsure
Large professional services fund Care Super has moved to upgrade its insurance offering to members via a new arrangement with Comminsure.
Care announced in early June that it had retained to provide death, total and permanent disablement (TPD) cover and income protection cover following an extensive tender process facilitated by .
Care chief executive said that under the new arrangements, Care members who currently have death and TPD insurance cover on a unitised basis will see an increase in their level of cover from July 1.
Lander said members on standard unitised cover could now switch to fixed cover so that their cover does not reduce as they age.
“In addition, we will offer new members a choice of insurance packages upon joining the fund, including income protection cover without going through underwriting.”
Lander said that, to address the under-insurance issue, there had been a small increase in the premium payable, however the benefit levels secured far outweighed the increase.
AUTHOR
Mike Taylor
Recommended for you
Australia’s average superannuation balance has climbed to a record high, with women’s savings share rising and reliance on the age pension falling.
APRA has softened several governance reform proposals following extensive consultation with banks, insurers and super funds across Australia.
The super fund’s CEO has confirmed he will finish his role in 2026.
New data shows millions of Australians have little idea how their super funds have performed over the past year.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 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(%)
