If the beneficiaries were that interested you would think they would make sure the life insured opts in. This has been legislated, so I cant see how the funds or the insurers themselves can be held liable or be the subject of court action over this. Im sure the government would have had high level legal advice before putting the legislation through as they usually do.
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional