Insurance cover that reflects the individual needs and circumstances of members is at the heart of the introduction of a new product called Super Only.
Super Only is a default insurance free product that has been created to protect the accounts of people employed under the Supported Employment Services Award, short term employees working for less than six months and seasonal or intermittent employees working less than six months.
Its development recognises the fact that insurance cover may not be suitable for some members, especially those on low incomes whose accounts can be eroded by insurance premiums.
No automatic insurance upon joining means no unnecessary insurance fees coming out of those member’s super accounts, protecting them from account erosion.
If you’re interested in learning more about Super Only and its suitability for your business, contact your AustralianSuper representative.