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Following an extensive competitive tender process, we are pleased to confirm we have reappointed TAL* as the fund’s group insurer.
Pleasingly, because of this reappointment, you, as an IOOF super member, will in most cases receive reduced premiums and some improved policy terms and conditions on your insurance cover.
We review our insurer every three years to ensure our insurance cover remains competitive and is in members’ best interests.
You don’t need to do anything. The changes will start automatically on 1 July this year.
We have written to you to explain your specific new premium rates.
Your insurance premiums are automatically updated on 1 July each year to reflect the change to your age and salary (if applicable).
We’ve worked with TAL to ensure our insurance terms remain clear and appropriate for members so you can rely on your cover if you need to make a claim.
We have made changes to some of our terms and conditions, which includes some improved terms as well as adjustments to existing conditions to ensure you receive better value for your premium.
We recommend you regularly review your insurance to ensure it continues to meet your needs. You may request an adjustment of your cover at any time.
From 1 July 2021, you can view the changes to your insurance online by logging in at www.ioof.com.au/login as well as in your next annual statement.
For a summary of the changes, refer to the IOOF Employer Super Group Life Policy and the IOOF Income Protection Policy.
If you have any questions or wish to make any changes, please speak with your financial adviser, contact our ClientFirst Team on 1800 913 118, or email firstname.lastname@example.org
*TAL Life Limited (TAL) ABN 70 050 109 450 AFSL 237848