TWUSUPER has extended its insurance mandate with CommInsure for a further three years, with improved cover for members.
Members will now receive more total and permanent disablement (TPD) cover, with basic TPD cover increased from one to two units. Members will also have the option to further increase both their death and TPD cover from the current two units to three.
The deal encompasses other improvements, including the introduction of lifetime event cover, a loyalty bonus, improved TPD definitions and maximum cover levels, CommInsure stated.
TWUSUPER chief executive Bill McMillin said the changes will offer fund members better value and greater cover, enabling members and their families to be better protected.
The winners have been announced for the 2025 Super Fund of the Year Awards, held in Melbourne on 26 November.
Australian Ethical Superannuation has seen additional licence conditions imposed on it by APRA over the fund’s expenditure management.
The fund has strengthened its leadership team with three appointments to drive its next phase of growth and innovation.
ASIC and APRA have warned many trustees have failed to meaningfully improve retirement strategies despite the retirement income covenant being in place for three years.