Superannuation Changes - Are you at risk?

Did you know…? As of July 1st up to 3 million vulnerable Australians could be at risk of losing valuable insurance protection.

Did you know…? As of July 1st up to 3 million vulnerable Australians could be at risk of losing valuable insurance protection.

 

The government recently made changes which come into effect July 1st 2019, which may mean you lose your existing Risk insurance inside of super. If you have a low balance of under $6k or haven’t made any contributions for 16 months or more you could be at risk.

More than your home or your car, your life and ability to earn an income is your most important asset. Having Risk Insurance cover provides financial protection if you’re unable to work due to disability or illness.

For clients with medical issues - like those who we’ve assisted in the past - this can mean the ordeal of getting new cover; medical and financial underwriting, possible revised terms. It’s important to investigate now because you could lose valuable protection...cover you may never be able to get again without a loading or exclusion, if at all.

AMA Financial Services has helped and continues to help clients who hold their cover via superannuation. This protection can be the difference between keeping the life you’re comfortable with or financial ruin.

Most Australians have life insurance included in their superannuation. Do you know what kind of protection you may have inside of super to protect you and your family? There are a high number of Australians who hold this kind of Risk insurance as a safety net.

 Your automatic life insurance inside of super could be lost forever with these changes. Act now to protect your valuable default cover - why wait until it’s too late?

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