The importance of group insurance Australia’s superannuation system stacks up well internationally. According to the OECD, our super system is broadly equitable, offers a robust safety net for pensioners, and has assets which are growing strongly as a percentage of GDP (ASFA, Australia’s super system stacks up well internationally, January 2019). As well as an income for retirement, most funds also offer their members default group life and total and permanent disability (TPD) insurance. According to Rice Warner, there are more than 13.5 million separate insurance policies held through super funds in Australia (Rice Warner, Insurance Through Superannuation 2016). But...