Intrust Super has broken new ground on the insurance front by moving to offer self-employed members an income protection package.
The new income protection product, PayGuard, has been available to self-employed members of the fund since last month.
Commenting on the move, Intrust chief executive Brendan O’Farrell said teaming the fund's specially designed superannuation product for the self employed with the opportunity to take up income protection insurance made for a perfectly match offered.
“We understand that self-employed people place a particularly high priority on protecting their income in the event of sickness or injury, so extending PayGuard to Select Super members was really demand driven,” O’Farrell said.
Introducing reforms for strengthening simpler and faster claims handling and better servicing for First Nations members are critical priorities, according to the Super Members Council.
The Commonwealth Bank has warned that uncapped superannuation concessions may be “unsustainable” and has called for the introduction of a superannuation cap.
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).