Treasury has released a consultation paper on its review into occupational exclusions in default insurance offered through MySuper products. The review will focus on default cover in respect of life and total and permanent disability (TPD) insurance which trustees are required to provide to MySuper members. The Government has expressed concern that occupational exclusions may result in default insurance cover not being available (or only partially available) for certain occupations that an insurer has classified as higher risk.
COMMENTS are due by 14 October 2021. [LTN 170, 3/9/21]