TOWER Talk

Welcome to the February edition of TOWER Talk.
Providing you with current information concerning TOWER, our products and the industry.
In this edition:

Super Fast Facts
Quick facts and updates on Superannuation to keep you informed. To read more, click here

Correction to some Personal Superannuation Plan (PSP) Annual Statements
An error was found for some PSP Annual statements. We have corrected statements affected. To read more click here

Review of Insurance Premium Rates for ARC
Following a review of ARC’s reinsurance arrangements, new insurance premium rates and occupational loadings will apply to both existing and new ARC Personal and ARC Corporate members from 1 April 2005. To read more, click here

Canberra Corner
For an easy to read update on the progress of legislation through parliament, click here

Correction to some Personal Superannuation Plan (PSP) Annual Statements

An error was found for some PSP Annual Statements. We have corrected the statements affected and we have written to the PSP policyholders with the corrections on 11 February.

The amendments provided correct values payable "In the event of Death" and "In the event of Total and Permanent Disablement" and revised values for "Life Cover" and "Total and Permanent Disablement Cover".

You can access copies of your client's letters on-line via the TOWER Adviser website.

Login into www.toweradviser.com.au.
Click on the "Your Business" tab on the menu, then select "Your Business Online".
Choose "Client Correspondence".
Enter the client's Policy Number.

Please contact your Service Team if you have any questions about these amendments.

Following a review of ARC’s reinsurance arrangements, new insurance premium rates and occupational loadings will apply to both existing and new ARC Personal and ARC Corporate members from 1 April 2005.
As a result of this review, insurance premiums will decrease (or insured benefit amounts will increase where fixed dollar per week premiums apply) for the majority of ARC members.
However, depending on the relative level of risk, insurance premiums will actually increase (or insured benefit amounts will decrease where fixed dollar per week premiums apply) for some members. The following letters, as applicable, are being issued to these affected members to provide the Trustee’s required 30 days’ notice of the change. Please see these letters attached:

ARC Insurance Change Notice - $ per week premium
ARC Insurance Change Notice - increase in premium for nominated sum insured

The next version of TOWERnet, which will be released in late March as part of the Risk Product update, will include new premium rates for ARC Personal insurance quotations.
The insurance quotation section within the Adviser area of the ARC website will also be updated during March to reflect the new insurance premium rates and occupational loading factors for both ARC Personal and ARC Corporate members. In the meantime, advisers should contact the Group Risk Team on (02) 9448 9179 if you have any related enquiries.

Important
If you no longer wish to receive the TOWER Talk please e-mail us at TowerTalk@au.towerlimited.com providing your full name and the email address these are being sent to.

Login to the TOWER adviser website to obtain other information on TOWER products, investments, or technical news. All current PDS's are on the site and can be printed off for sales use.



		V2 - Feb 05
		Welcome to the February edition of TOWER Talk. Providing you with current information concerning TOWER, our products and the industry. In this edition: Super Fast Facts Quick facts and updates on Superannuation to keep you informed. To read more, click here Correction to some Personal Superannuation Plan (PSP) Annual Statements An error was found for some PSP Annual statements. We have corrected statements affected. To read more click here Review of Insurance Premium Rates for ARC Following a review of ARC’s reinsurance arrangements, new insurance premium rates and occupational loadings will apply to both existing and new ARC Personal and ARC Corporate members from 1 April 2005. To read more, click here Canberra Corner For an easy to read update on the progress of legislation through parliament, click here Super Fast Facts The Government recently provided a response to the recommendations of the Senate Select Committee on Superannuation Report “Superannuation and Standards of Living in Retirement. Please click here to view the report. The Parliament of Australia have recently released a superannuation ready reckoner which provides a summary of superannuation taxation and preservation rules. Please click here to view the document. Correction to some Personal Superannuation Plan (PSP) Annual Statements An error was found for some PSP Annual Statements. We have corrected the statements affected and we have written to the PSP policyholders with the corrections on 11 February. The amendments provided correct values payable "In the event of Death" and "In the event of Total and Permanent Disablement" and revised values for "Life Cover" and "Total and Permanent Disablement Cover". You can access copies of your client's letters on-line via the TOWER Adviser website. Login into www.toweradviser.com.au. Click on the "Your Business" tab on the menu, then select "Your Business Online". Choose "Client Correspondence". Enter the client's Policy Number. Please contact your Service Team if you have any questions about these amendments. Review of Insurance Premium Rates for ARC Following a review of ARC’s reinsurance arrangements, new insurance premium rates and occupational loadings will apply to both existing and new ARC Personal and ARC Corporate members from 1 April 2005. As a result of this review, insurance premiums will decrease (or insured benefit amounts will increase where fixed dollar per week premiums apply) for the majority of ARC members. However, depending on the relative level of risk, insurance premiums will actually increase (or insured benefit amounts will decrease where fixed dollar per week premiums apply) for some members. The following letters, as applicable, are being issued to these affected members to provide the Trustee’s required 30 days’ notice of the change. Please see these letters attached: ARC Insurance Change Notice - $ per week premium ARC Insurance Change Notice - increase in premium for nominated sum insured The next version of TOWERnet, which will be released in late March as part of the Risk Product update, will include new premium rates for ARC Personal insurance quotations. The insurance quotation section within the Adviser area of the ARC website will also be updated during March to reflect the new insurance premium rates and occupational loading factors for both ARC Personal and ARC Corporate members. In the meantime, advisers should contact the Group Risk Team on (02) 9448 9179 if you have any related enquiries. Canberra Corner There are many changes made to legislation that may affect you and your clients month to month. For an easy to read update on the progress of legislation through Parliament, click here. Important If you no longer wish to receive the TOWER Talk please e-mail us at TowerTalk@au.towerlimited.com providing your full name and the email address these are being sent to. Login to the TOWER adviser website to obtain other information on TOWER products, investments, or technical news. All current PDS's are on the site and can be printed off for sales use. TOWER Australia Ltd A.B.N. 70 050 109 450 AFSL Number 237848