IOOF ups insurance for personal superannuation members

14 July 2011
| By Ashleigh McIntyre |
image
image
expand image

IOOF has enhanced its platform insurance offering in partnership with TAL Life, which will provide improvements to group life and income protection for personal superannuation members.

General manager of distribution Renato Mota said members in IOOF’s key target markets will be better off under the changes, particularly in the areas of death and total and permanent disability (TPD) coverage. In these areas, both the entry and expiry age has been extended to 75.

IOOF has also introduced new features and benefits, such as life events cover which will allow members to increase their death and TPD or income protection cover in the event of their marriage, the birth of a child, divorce or taking out a mortgage.

The changes will be applicable to new members or existing members who open new cover on or after 15 July, 2011. Where members had insurance prior cover to this date, the changes will be applicable from 1 December, 2011.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 22 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 22 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 23 hours ago