The financial services firm has added insurance and investment services to its corporate super platform.
Wealth manager AMP has boosted its corporate superannuation business, SignatureSuper, adding more insurance features and a cash investment option.
The company will now provide insurance for workers in high-risk occupations through its insurance arm and has introduced flexible insurance benefits to members, including enhanced automatic acceptance limits.
"AMP previously did not look at people in high-risk occupations. Our hard-risk offer will now allow these people access to our insurance benefits," AMP Corporate Superannuation director Greg Healy said.
The firm had also separated death from the total and permanent disability definition to add more insurance flexibility, Healy said.
"Our corporate clients can now have their benefits tailored to suit their insurance needs. This will also mean we will require less information in insurance applications," he said.
SignatureSuper clients can add family members to the corporate super plan, thereby allowing them access to the insurance arrangements.
In response to market volatility, the corporate super business has also added a cash option to its investment choices. The option will invest purely in cash and will not expand into enhanced cash.
"The changes are a result of a review to our business. We are always looking to refine our offerings to our members," Healy said.
AMP would also look to develop transition-to-retirement products and was currently developing products, he said.
"As people are living longer, there will be a greater push for products that help them ease into retirement."
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