Hostplus announces insurance premium decrease and new look insurance design

Hostplus, national super fund for the hospitality, tourism, recreation and sport industries, announced it has successfully negotiated a premium decrease of 3% across its range of Death and Total & Permanent Disablement (TPD) products.

Hostplus has also made changes to its insurance product design, to provide members with a greater degree of control and flexibility of their insurance cover, following a recent renewal of its strategic partnership with leading global life insurance provider MetLife.

“Our new look insurance product will provide members with greater flexibility to tailor insurance cover to best suit their needs,” Hostplus CEO, David Elia said.

“Hostplus is proud to offer a 3% reduction in premiums to members while maintaining our current TPD definitions, at a time when many other insurance providers are increasing premiums or tightening definitions and exclusions.”

“The other good news is that our Death insurance cover has been extended from age 65 to 70, which means our members will be covered for longer.”

Changes to Death and Total & Permanent Disablement (TPD) will come into effect on 26 September 2015. There will be no changes to Fixed Insurance or Salary Continuance cover or premiums charged.

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