TelstraSuper Announces Decrease in Income Protection Insurance Premiums
TelstraSuper Announces Decrease in Income Protection Insurance Premiums
0
TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members.
Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing.
The primary driver behind this reduction is the improved historical claims experience among TelstraSuper's members, particularly older female members. Fiona LaGreca, TelstraSuper's Head of Insurance and Claims, emphasized the fund's commitment to providing affordable premiums, allowing members to allocate more funds towards their retirement while maintaining excellent coverage.
In addition to the reduction in income protection premiums, TelstraSuper has maintained competitive rates on default death and total & permanent disablement (TPD) insurance cover. These rates were negotiated with MLC Life Insurance in 2020, resulting in an 8% decrease, and are set to remain competitive until 30 June 2026.
For members, this development signifies enhanced value and affordability in their insurance coverage, reinforcing the importance of regularly reviewing superannuation and insurance arrangements to ensure they align with individual needs and financial goals.
Published:Saturday, 8th Nov 2025 Source: Paige Estritori
TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members. Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing. - read more
Recent data from Plan For Life indicates a sharp decline in individual income protection insurance sales in Australia, with new risk income sales experiencing an 8.3% downturn in the year ending September 2024. This contrasts with previous periods of growth, highlighting shifting dynamics within the insurance market. - read more
In response to escalating global shipping challenges, leading broker Marsh and Lloyd's underwriter Tokio Marine Kiln have launched a pioneering business interruption insurance specifically designed for ports. This innovative product aims to mitigate the financial impact of trade disruptions caused by various factors, including geopolitical tensions and operational strikes. - read more
The International Union of Marine Insurance (IUMI) annual conference in Singapore has brought to light the critical role of artificial intelligence (AI) in transforming the marine insurance sector. Industry leaders emphasized the necessity for insurers to adopt AI technologies to effectively manage escalating risks and maintain a competitive edge. - read more
Exploring the realm of health insurance can be like navigating a labyrinth, replete with complex terms and varying policies. Among these, health fund rebates emerge as a crucial element, particularly for young Australians embarking on their journey of health coverage. Fund rebates can significantly lighten the financial burden, transforming the quest for health insurance from daunting to empowering. - read more
Welcome to our blog! For young families, securing your future often requires careful planning and prudent financial decisions. One of the most crucial steps you can take in this journey is creating a financial safety net. - read more
Financial security is pivotal for anyone striving to meet their life goals, be it owning a home, educating children, or ensuring a comfortable retirement. In Australia, where uncertainties can disrupt our best laid-out financial plans, having a safety net in place is essential. Income insurance offers just that—protection against the unforeseen events that could impact your income earning abilities. - read more
Life insurance is a cornerstone of financial planning for Aussie families, offering protection and peace of mind. But what happens when the bustling flow of life brings changes? This is where a life insurance review comes into play. A life insurance review is a thorough analysis of your existing policy to ensure it aligns with your current life circumstances and financial goals. - read more
Start Here !
Apply now for your free Insurance assessment and price comparisons!
All quotes are provided free and without obligation. We respect your
privacy.
Knowledgebase
Insurance: In law and economics, insurance is a form of risk management primarily used to hedge against the risk of potential financial loss.
