In January 2019, we introduced some changes to insurance premium arrangements in FirstChoice Wholesale Personal Super.
The following changes apply to all FirstChoice Wholesale Personal Super accounts opened before 11 June 2013:
INSURANCE COMMISSION REBATE FOR MEMBERS WITH NO FINANCIAL ADVISER
The following change applies if you have insurance cover through the fund that commenced before 1 July 2014. From January 2019, if you do not have a financial adviser linked to your account, or if you remove your financial adviser from your account after this time, you will receive an insurance commission rebate that reduces your future insurance premiums by up to 22%.
Please note: If you took out insurance through the fund after 1 July 2014, you already pay a reduced insurance premium.
ADVISER COMMISSION REBATES
Where a financial adviser is linked to your account, we may pay commissions to them from the total insurance premiums you pay. From January 2019, financial advisers have the ability to rebate some or all of the commissions they receive to you. Your financial adviser can confirm if you are able to receive any insurance commission rebates.
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Please refer to the flyer for more information.
To find out how these changes may affect you, call us on 13 13 36, or speak to your financial adviser.
Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of super, pension and investment products. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) carefully and assess whether the information is appropriate for you and consider talking to a financial adviser before making an investment decision. A PDS for Colonial First State’s products are available at colonialfirststate.com.au or by calling us on 13 13 36.