News

We’re bringing our life businesses together

Bringing our life businesses together from 1 January 2012

Important news for all of our customers with either an Asteron Life Limited ABN 64 001 698 228 or Suncorp Life & Superannuation Limited ABN 87 073 979 530 (SLSL) policy.

Life insurance business transfer approval

On Wednesday 14 December 2011, the Federal Court approved our proposal to bring together the life insurance businesses of Asteron Life Limited and SLSL by transferring the Asteron Life Limited business into SLSL effective on and from 1 January 2012.

Details of the transfer
Four years ago, Asteron Life Limited became part of the Suncorp Group which includes SLSL.  As both businesses have a similar range of life insurance products, SLSL and Asteron Life Limited have agreed it makes sense economically and practically to bring our life insurance businesses together.

On and from 1 January 2012, we are transferring Asteron Life Limited’s life insurance business to SLSL by way of a Scheme under Part 9 of the Life Insurance Act 1995.

What does this mean for you?
On and from 1 January 2012, all Asteron Life policies will be administered by SLSL, rather than by Asteron Life Limited. Other than a change to the issuer of all Asteron Life policies and the relevant statutory funds, there will be no changes to your policy terms and conditions or premiums. Your every day dealings with, and communications from Asteron Life will remain the same

Click here to view the Actuarial reports and Scheme document

Need more information?

Please call 1300  682 435
Email us at policyquestions@asteron.com.au

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Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.

Asteron supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email info@fsc.org.au or visit www.fsc.org.au

© Asteron Life & Superannuation Ltd ABN 87 073 979 530 (Asteron). Registered Office, Level 16, 363 George Street, Sydney NSW 2000

Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (Asteron) is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Suncorp Portfolio Services Limited ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059 (SPSL or Trustee) is part of the Suncorp group of companies (Suncorp). SPSL is a related body corporate of Suncorp Group Limited ABN 66 145 290 124 and Suncorp-Metway Limited ABN 66 010 831 722 (Suncorp Bank) (Suncorp). This product is not a bank deposit or other bank liability of the Suncorp Bank. The obligations of the different entities of TAL and Suncorp are not guaranteed by other entities