AMP has made a number of enhancements to AMP Flexible Super, its leading superannuation and retirement product, making it a more competitive and attractive product for customers saving for their retirement.

A new retail insurance offer within AMP Flexible Super, Super Protection, will offer customers more competitive insurance premiums. Super Protection includes cover for Death, Total and Permanent Disability (TPD) and income protection.

AMP Director of Superannuation Patricia Montague said it was important to make insurance accessible for as many people as possible.

"Helping more Australians secure their financial future is at the heart of AMP's values. The launch of Super Protection means customers can access insurance at a lower cost.

"We know that for most Australians, their families are their most important asset. It is important for AMP to provide customers with a competitive way to access insurance to provide them with the protection they need," Ms Montague said.

Super Protection replaces Flexible Protection, AMP Flexible Super's existing insurance offer. Flexible Protection will remain open to existing customers.

In addition to the insurance changes, AMP Flexible Super has 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.

The new investment options add to AMP Flexible Super's diverse investment menu to meet the needs of customers with different account balances, risk profiles and liquidity requirements.

Super Protection will be compliant with the incoming Superannuation Industry Supervision (SIS) reforms which take effect 1 July 2014.


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