AMP this week announced it had made a number of enhancements to AMP Flexible Super product aimed at making it more competitive, including a new retail insurance offer.
It said the new retail insurance offer, Super Protection, would offer customers more competitive insurance premiums including death, total and permanent disability (TPD) and income protection.
Commenting on the enhanced offering, AMP director of superannuation Patricia Montague said it was important to make insurance accessible for as many people as possible.
Super Protection replaces Flexible Protection, AMP Flexible Super's existing insurance offer, although the Flexible Protection product will remain open to existing customers.
Montague said that in addition to the insurance changes, AMP Flexible Super had refreshed its investment menu, including the addition of two new actively managed market linked options, Super Easy Active Balanced and the AMP Capital Dynamic Markets Fund.
Super Easy Active Balanced is a traditional diversified fund that uses both dynamic asset allocation and strategic management to deliver lower cost active management.
The AMP Capital Dynamic Markets Fund uses dynamic asset allocation, providing a flexible investment approach that aims to balance growth and defensive assets in response to changing markets.
AMP Flexible Super will also introduce a 3 month Term Deposit, giving customers greater flexibility to pick and choose cash options to suit their needs
