With the July 01, 2019 deadline for the government’s controversial reforms of the $2.6 trillion super sector looming ever closer, Australia’s largest life insurer is urging the federal government to reconsider its plans to make life insurance an opt-in for all super accounts with balances under $6,000.
Brett Clark, TAL’s group CEO and managing director, said the measures mean all new super fund members would have no cover at all, and does not take into account those with jobs but with low balances.
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