AustSuper denies member exploitation of group insuranceBY JAMES FERNYHOUGH | WEDNESDAY, 27 NOV 2013 12:40PMAustralianSuper chief executive Ian Silk has denied that 'automatic acceptance' to the fund's group life insurance offering is being exploited. Related News |
Editor's Choice
NovaPort Capital team calls it a day
|The team at small caps manager NovaPort Capital have decided to hang up their boots.
Industry fund merger postponed
|Mine Super and TWUSUPER have reported "significant progress" towards their merger, but it has been pushed back.
Fidelity shutters, delists funds
|Fidelity International is terminating an international fixed interest strategy that failed to scale, as well as delisting a managed fund.
Super funds to solve the housing crisis?
|Association of Superannuation Funds of Australia (ASFA) chief executive Mary Delahunty said at the Australian Shareholders' Association Conference yesterday that addressing the supply side of the housing crisis requires an infusion of private capital.
Products
Expert Feed
Why advisers should consider offering general insurance to HNW clients
I have read many articles over the years about servicing high-net-worth (HNW) clients in the financial services industry.
The role of AI in financial planning: Insights from the US
Ever since ChatGPT burst onto the scene late last year, generative AI has been front and centre of business discussions and financial planning, just like ...
Considerations when nominating a charity for your super upon death
There has been a lot of talk lately about the upcoming great wealth transfer, and you might be wondering where charities fit into all this.
The end of free money
With institutional investors prudently reassessing their risks in current market conditions and seeking safe havens in alternatives such as secured private ...
Featured Profile
Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
Having previously made contact with Australian Super and TAL in relation to their insurance, neither seemed to have an answer when it comes to pre-existing conditions. On being told to read the PDS, it appears that all pre existing conditions are not covered.
Check out the joint Directorships of Australian Super and TAL when the AAL's were negotiated (just Google up !)
I find it increasingly of interest that people who do not run businesses make some sort of smart comments about how they are being run. In this case Australian Super's CEO Ian Silk has made his case quite clearly that it is not an issue for his trustee's. So whomever has this view had better put up some evidence or go away.
It is the same nonsense that runs around the industry about which company is doing what and experience what in terms of claims. It is all about past underwriting quality and what group business is on the books at what rate. These are all pragmatic business decisions that result in outcomes.
Both TAL and other life companies will make their own decisions without the uniformed views of the Commentariat.