We have found an interesting trend with clients that hold industry super funds. Whilst the funds themselves are generally sound and provide low cost administration they often contain hidden costs in the form of expensive insurance cover.
From 1 July 2019, new ‘Protecting Your Super’ laws come into effect. This means unless you have elected to keep your insurance within Super it could be cancelled leaving you and your family unprotected.
These rules prevent super funds from providing insurance cover to y...