Transition Plan to Insurance in Super Voluntary Code of Practice

Suncorp Portfolio Services Limited (we, our, us, the trustee) has adopted the Insurance in Superannuation Voluntary Code of Practice (‘the Code’), which commenced on 1 July 2018. 

We believe that adopting the Code is in the best interests of our member’s and anticipate it will lead to better outcomes for our members in relation to insurance arrangements through the super products we offer.

We already comply with some elements of the Code, and aim to comply with additional requirements in 2019, and meet all requirements by June 2021. Our Transition Plan outlines our timeline for compliance.

We are aiming to improve the insurance arrangements available to our members through the super products we offer. This includes:

  • helping members better understand the insurance available to them,
  • providing members with access to better priced insurance cover,
  • enabling members to more easily make changes to their insurance, to the extent they can be made, to suit their needs, and
  • supporting our members when they need it most – at claim time.

Our Transition Plan provides you with a timeline outlining what we will do to comply with the Code, which should help us achieve the above goals. You can read our Transition Plan here.

You can read about the background on the Insurance in Super Voluntary Code of Practice here. If you would like to know the details of the Code, you can read about it here.

Superannuation products provided under the Asteron or Asteron Life brands are issued by Suncorp Portfolio Services Limited ABN 61 063 427 958 AFSL 237905 RSE licence no L0002059 (SPSL) as trustee for Suncorp Master Trust R1056655 ABN 98 30 952 022. Insurance cover within these products is generally issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (SLSL). SPSL and SLSL are related bodies corporate and part of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of products and services provided by other Suncorp Group entities. Information provided is general advice only and does not take into account any person’s objectives, financial situation or needs. Before making any decision to acquire or continue to hold an Asteron or Asteron Life super product, please read the relevant product disclosure statement and/or documentation already provided to you containing product terms and conditions (as applicable), and speak to your financial adviser. An Asteron or Asteron Life super product is not a bank deposit or other bank liability, and may be subject to investment risk including possible delays in repayment and loss of the interest and principal invested.

Latest News

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.

2023 © TAL Services Limited is a Dai-ichi Life Group Company.

The information provided on this website is general advice only and does not take into account your individual needs, objectives or financial situation. You should consider the appropriateness of the advice, having regard to those matters, and read the relevant Product Disclosure Statement (PDS) before making a decision to purchase or continue to hold a product. The Target Market Determination (TMD), where applicable, for the product is also available.

ASTERON LIFE™ INSURANCE
TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life) is the issuer of Asteron Life™ insurance products. TAL Life is proud to have adopted 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. Read more about the Code.

‘Asteron Life’ and the Asteron Life device are registered trademarks of TAL Services Limited ABN 60 076 105 130 (TAL Services). TAL Services and TAL Life are part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). The different entities of the TAL group of companies are not responsible for, or liable in respect of, products and services provided by the other.

SUPERANNUATION
Asteron Life superannuation products are issued by LGIAsuper Trustee ABN 94 085 088 484 AFSL 230511 as trustee for LGIAsuper ABN 23 053 121 564 RSE R1000160, trading as Brighter Super (Brighter Super). Insurance and/or administration services are provided to Brighter Super by TAL Life. Brighter Super is not part of the TAL Group of companies and uses the Asteron Life brand under licence from TAL. The different entities of the Brighter Super Group and the TAL Group of companies do not guarantee, are not responsible for, or liable in respect of, products and services provided by the other.