POWERED BY MOMENTUM MEDIA
ACSRF updates insurance offering
The Australian Catholic Superannuation & Retirement Fund (ACSRF) has introduced changes to its insurance offering for members to provide greater benefits and flexibility without increasing premiums.
ACSRF chief executive Greg Cantor said: “Australia is one of the most underinsured countries in the developed world. We hope these changes will have a positive effect in helping to reduce the size of this problem.”
The dollar value for each unit of death and total and permanent disablement cover has now increased between 8 and 28 per cent, depending on age, with the cost per unit remaining the same. Members are able to choose either age-based unitised or fixed rate cover, which has also been extended from age 65 to 70.
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
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
