Amp superfunds with 100k were losing money, page-11

I agree that the customer should take some responsibility. What I’m saying is that the fees are unreasonable.

The other ABC fiasco was the 7.30 report earlier this week. A woman and her husband had separated. He died. She’s suing AMP because they won’t pay out his life insurance.

His premiums were being paid from his AMP super account, which had an initial balance of $1,700 (one thousand seven hundred). The fund was soon exhausted and AMP wrote to him seven months before his death saying that his insurance would lapse if he didn’t arrange premium payments from another source. Which he didn’t - they found the unopened envelope after his death. She says AMP should make an exception in her case, for no particular reason, and give her $280k. They can afford it, she says.