When most people hear the word superannuation, they tend to not get too excited. For many of us, ‘super’ is something to worry about far into the future. What’s more, many believe that every super fund is pretty much the same.
Different super funds will attempt to tell you they are the better choice because last year they achieved solid investment returns, or provide mandated personal insurance options. But what is it that can really differentiate a super fund going forward?
An industry super fund based in Queensland is proving to be a very attractive choice.
Intrust Super recently won Money magazine’s ‘Best Value Insurance in Super’ award for the fifth year in a row, and the 2016 Rainmaker Selecting Super ‘Personal Insurance Offering of the Year’. Having good value in insurance is critical for superannuation members because expensive insurance premiums can erode any good investment returns.
Protecting your biggest asset, your health and ability to earn an income is often overlooked. What would happen to your family if you weren’t able to return to work, or worse?
Personal insurance in superannuation is a great benefit for members who can’t afford life insurance or income protection. However, fees and benefits provided with insurance vary from fund to fund. An insurance offering with lower premiums and high cover is obviously going to benefit members and their super balances.
Intrust Super CEO, Brendan O’Farrell stated, “Winning the prestigious Money magazine award for the fifth consecutive year demonstrates Intrust Super’s continual focus on, and dedication to, the wellbeing of members.”
“Insurance is important, but it can be difficult and expensive outside of super. Not only do we have a history of strong investment performance, we’re ensuring hospitality workers, including casuals, have access to high quality personal insurance in their super. We ensure great value premiums to minimise the impact on members’ retirement savings,” O’Farrell says.
For eligible members, their super, not their back pockets, will pay for life insurance, disability cover and income protection. More importantly, it is the amount of cover the member receives for their money that has won Intrust Super their “Best Value” tag for the last five years.
Intrust Super members receive a high amount of automatic cover of life and disability cover, as well as a whopping (up to) 90 per cent of their income protected if they are unable to work due to illness or injury. Intrust Super’s ‘PayGuard’ income protection also pays super as well so the member’s retirement savings aren’t impacted.
Intrust Super’s insurance offering caters to the hospitality and tourism industries. Full-time, part-time, casual staff and staff working in Australia on visas will receive cover with Intrust Super’s insurance options. Additionally, members don’t need to ‘opt-in’ or get a health check to receive the multi-award-winning cover.
If you’re not an Intrust Super member, go to intrust.com.au or give them a call today on 132 467, and see if they are right for you.
Unless specified, all product features noted in this article apply to Intrust Super’s Core Super | MySuper product. The information contained in this article is of a general nature only, and does not take into account your individual situation, objectives and needs. You should consider the appropriateness of the general information having regard to your own situation before making any investment decision. A Product Disclosure Statement is available at intrust.com.au or call us on 132 467 for a copy. While Intrust Super has no reason to believe that this information will not provide an accurate view of the material covered, Intrust Super does not accept liability for any errors in the content of this information.
Issued by IS Industry Fund Pty Ltd | MySuper Unique Identifier: 65704511371601 | ABN: 45 010 814 623 | AFSL No: 238051 | RSE Licence No: L0001298 | Intrust Super ABN 65 704 511 371 | SPIN: HPP0100AU | RSE Registration No: R1004397