People may or may not be aware that significant changes are due
to come into effect from 1 July 2019, potentially affecting
millions of Australians' insurance benefits contained within
their superannuation.
While the Treasury Laws Amendment (Protecting Your
Superannuation Package) Bill 2018 effectively introduces new
laws designed by the Government to reduce scheme costs and to
protect people from paying unnecessary fees and insurance premiums,
the effects could be quite catastrophic for superannuation policy
holders if not properly considered.
Many superannuation policy holders may be unaware that they have
various types of life insurance coverage within their
superannuation.
