Move to opt-in life insurance for young members is welcome

By Daryl Dixon
Updated October 15 2017 - 9:43am, first published September 28 2017 - 12:40am

Responding to concerns that compulsory life and disability group insurance coverage eats away small superannuation balances, the largest industry super fund AustralianSuper has introduced an opt-in policy for new members aged under 25. Instead of receiving automatic coverage in their default fund, these new members will only be covered for death and total and permanent disablement if they choose to be.

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