Asteron has historically made commission payments to financial advisers who originally recommended the product. From 1 November we are ceasing these payments in line with legislative changes and will instead pass the value back to policyholders in the form of a fee reduction. We have decided to pass this benefit to all policyholders regardless of whether you had an adviser.
We have also reviewed our investment costs and, in some instances we have been able to pass on additional cost reduction to some investment options as a result of this review.
Frequently Asked Questions
When will this occur?
This change has already taken effect on 1 November 2020.
Which Asteron Products?
These changes are occurring on investment products with an account balance (such as superannuation and investment policies). These changes do not impact any investment product which was already commission free.
More Information
Overall, policyholders will benefit from these changes; however, you should seek financial advice that will consider your individual and personal circumstances. No other fees or terms and conditions are changing; all changes are outlined in this notice.
This is being passed back to policyholders mostly via fee reductions or rebates. Some specific policy types may get the benefit via other methods.
Need Help?
Phone our customer service team on 1300 652 270 Monday to Friday 8am to 6pm (AEST).
