s 12M
In forceMeaning of superannuation‑related add‑on insurance product
Part 2ADeferred sales model exemptions
12M Meaning of superannuation‑related add‑on insurance product
A superannuation‑related add‑on insurance product is an add‑on insurance product that:
(a)
is offered or sold to a consumer in connection with the consumer acquiring, or entering into a commitment to acquire, another product or service in a registrable superannuation entity; and
(b)
provides insurance cover (whether or not the cover is restricted) in respect of one or more of the following:
(i)
the consumer’s death;
(ii)
the consumer’s total and permanent disability;
(iii)
loss of income by the consumer.
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