We all have seen those ads on TV – compare the pair – and they really are misleading in many ways stating that Industry Superannuation Funds are superior to Retail Superannuation Funds.
There is no comparison of the features and benefits of the insurance products held by each which can dramatically affect a member at claim time.
This can make those compare the pair ads very misleading.
What you’ll learn:
- (0:36) Introduction to the Retail vs. Industry Super Funds Debate
- (1:30) Disclaimer and Introduction by Chris Becks
- (2:13) Misleading Comparisons in TV Ads
- (2:38) Insurance Claims Waiting Periods
- (3:21) Impact of Waiting Periods on Financial Situations
- (4:15) Term of Insurance Cover
- (4:57) Importance of Understanding Insurance Coverage Terms
- (5:16) Own Occupation vs. Any Occupation Coverage
- (6:02) Evaluating Insurance Definitions in Super Funds
- (6:58) Key Considerations When Comparing Superannuation Funds
- Loads More…
Links and Resources:
Australian Taxation Office (ATO) – Super
Australian Prudential Regulation Authority (APRA) – Superannuation
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