AustralianSuper members will pay $100 million less in insurance premiums over the next financial year for the same level of insurance cover with the Fund’s insurer TAL.

Insurance premiums will decrease by an average 14% for death cover, 6% for TPD and 20% for Income Protection, following an annual premium review.

The insurance premium decreases will come into effect from May this year and reflect the Fund’s commitment to providing the insurance cover at the best possible price for members.