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 |
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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.