Navigator Business Super now offers its members more income protection – a longer benefit period option and a superannuation contribution facility.
Navigator Business Super now offers its members more income protection – a longer benefit period option and a superannuation contribution facility.
“We’re helping members’ ensure their financial wellbeing now – and into the future,” said Rob Donaghy, group director, products, marketing and public affairs.
“Business Super offers an income protection component that ensures the member’s income and super contributions are protected, even if they are off work for up to five years.”
He explained: “Most income protection cover under super funds is limited to a two-year maximum benefit period. Navigator Business super members, however, have access to a range of flexible, long-term cover options.”
“In addition to the two-year benefit, we can offer a five-year benefit option, or cover payable up to age 60 or 65.”
Navigator Business Super’s income protection cover can also mean extra dollars for members’ super contributions.
Rob explained: “Income protection benefits usually pay up to 75% of a member’s salary. However, Navigator Business Super members can take up to 75% of salary plus an additional 10% of pre-disability income to put towards their super contributions.
“So even if they are unable to work, members can still keep up their super contributions from their insurance benefit. They will not compromise their retirement prosperity. These new options help ensure a financially secure future,” said Rob.
-ends-
For further information please contact:
Simon Morgan
Group General Manager Public Affairs
Telephone: (03) 9829 8892
Mobile: 0407 966 632
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world's fifth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$86.8 billion, and more than A$786.2 billion of assets under management (as at 7 July 2006). The group has approximately 59,000 employees and 30 million customers worldwide.
- The information in this document reflects Navigator Australia Limited's ('Navigator') ABN 45 006 302 987 understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. A PDS is available from NULIS or your financial adviser. Applications to invest in investment product(s) through the investor directed portfolio service ("IDPS"), operated by Navigator, must be made by completing the application form attached to the applicable IDPS Guide Offer Document and Investment Allocation Authority. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.