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TelstraSuper Announces Decrease in Income Protection Insurance Premiums

What TelstraSuper's Premium Reduction Means for Members

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members.

Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing.

The primary driver behind this reduction is the improved historical claims experience among TelstraSuper's members, particularly older female members. Fiona LaGreca, TelstraSuper's Head of Insurance and Claims, emphasized the fund's commitment to providing affordable premiums, allowing members to allocate more funds towards their retirement while maintaining excellent coverage.

In addition to the reduction in income protection premiums, TelstraSuper has maintained competitive rates on default death and total & permanent disablement (TPD) insurance cover. These rates were negotiated with MLC Life Insurance in 2020, resulting in an 8% decrease, and are set to remain competitive until 30 June 2026.

For members, this development signifies enhanced value and affordability in their insurance coverage, reinforcing the importance of regularly reviewing superannuation and insurance arrangements to ensure they align with individual needs and financial goals.

Published:Saturday, 8th Nov 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

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Insurance News

TelstraSuper Announces Decrease in Income Protection Insurance Premiums

08 Nov 2025: Paige Estritori

TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members. Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing. - read more

Australian Income Protection Insurance Sales Experience Downturn

08 Nov 2025: Paige Estritori

Recent data from Plan For Life indicates a sharp decline in individual income protection insurance sales in Australia, with new risk income sales experiencing an 8.3% downturn in the year ending September 2024. This contrasts with previous periods of growth, highlighting shifting dynamics within the insurance market. - read more

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31 Oct 2025: Paige Estritori

Australia's insurance industry is experiencing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims. Recent data from the Council of Australian Life Insurers (CALI) indicates that mental health issues now account for nearly one-third of all TPD claims, marking a substantial change in the industry's claim patterns. - read more

Australian Super's Claim Delays Raise Concerns Among Members

31 Oct 2025: Paige Estritori

Australian Super, one of the nation's largest superannuation funds, is facing criticism over significant delays in processing insurance claims, particularly those related to income protection and total and permanent disability (TPD). Members have reported prolonged waiting periods, leading to financial hardships and uncertainty. - read more

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31 Oct 2025: Paige Estritori

The Australian government has enacted legislation prohibiting life insurers from using the results of genetic tests to refuse coverage or increase premiums. This landmark decision aims to eliminate genetic discrimination and encourage individuals to undergo potentially life-saving genetic testing without fear of financial repercussions. - read more

TAL's $4.7 Billion Payout Reflects Rising Insurance Claims in Australia

23 Oct 2025: Paige Estritori

Leading Australian life insurer TAL has reported a substantial $4.7 billion in life insurance claims paid over the 12 months ending March 31, 2025. This figure underscores the significant role life insurers play in providing financial support to Australians during challenging times. - read more

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