Your Insurance is now with MetLife
Along with the transfer of Christian Super members to Australian Ethical on 25 November 2022 the Group Insurer changed from Hannover to MetLife Insurance Limited.
While most of the terms of Christian Super’s previous policies with Hannover remain the same after the transfer, there are some policy changes you should be aware of, which are explained in more detail here.
Protecting you and your loved ones
Insurance helps to protect you and your loved ones in case something unexpected happens. Insurance is available to provide members and their families with financial security if unexpected difficulties are encountered. It can help protect you and your family if you die, become totally and permanently disabled, terminally ill or are temporarily unable to work due to injury or illness.
There are some benefits and advantages of having insurance through your super rather than buying it yourself outside of super, such as:
It's often cheaper
Group buying power generally means you enjoy lower premiums compared to buying insurance yourself. It can also be tax effective.
Information about the levels of cover and premiums are set out in the Insurance Guide.
Because your premiums are automatically deducted from your super account and not from your take home pay – this means you don’t have to remember to pay for it!
Fewer medical checks
We offer a default level of Death and Total & Permanent Disablement Cover and Income Protection Cover without any medical or health checks. You will however need to do some medical checks if you apply to increase your Death and Total Permanent Disablement Cover or Income Protection Cover.
*You may still be subject to some limitations if you have a pre-existing condition. These limitations are explained in our Insurance Guide.
Types of insurance we offer
Australian Ethical Super provides the following types of insurance:
Death Cover pays a lump sum in the event of death or terminal illness.
Total and Permanent Disablement (TPD) Cover pays a lump sum should you become sick or injured and are not expected to ever work again.
Income Protection (IP) provides you with a regular income should you be unable to work for a prolonged period of time due to injury or sickness.
Default insurance cover is designed to automatically provide members with a basic level of financial protection in the event of Death, TPD or loss of income due to prolonged illness or injury.
Members who are ex-Christian Super members, and received mandatory employer contributions will be provided with our automatic default cover once they are 25 and less than 67 years of age AND their account balance has reached $6,000. If you want cover before these conditions are met, you can opt-in within 180 days of joining by completing an Insurance Opt-in Form. Please note other important terms and conditions apply, such as limitations of cover.
Like Death & TPD Cover, members who are ex-Christian Super Members and receive a mandatory employer contribution will automatically receive a default level of IP insurance, offered as unitised cover once aged 25 and less than 67 AND their account balance has reached $6,000. If you want cover before these conditions are met, you can opt-in to commence cover within 180 days of joining completing an Insurance Opt-in Form. If you did not receive default IP cover automatically, you can apply for IP using the Insurance Application Form.
To help you better understand Default Cover, please refer to our FAQs and our Insurance Guide for all the terms and conditions that apply.
If you’d like insurance cover that is tailored to your personal circumstances, you can apply for additional Death only, Death and TPD or IP cover.
Please read our Insurance Guide and consider seeking financial advice before making a decision.
While Super Funds must provide Default Cover once the eligibility criteria are met, Default Cover is not compulsory and is provided on an opt-out basis. If you don’t want your Default Cover to commence once you meet the legislative conditions (aged 25 but under 67 and have an account balance of $6,000), you can contact us (by phone or email) or you can complete complete section 3 of the Insurance Choice Form to opt out of cover commencing.
For members that already hold insurance cover and want to cancel their insurance you can do this by contacting us (by phone or email) or by completing section 3 of the Insurance Choice Form. For further information about opting out or cancelling cover and how this may impact you or your beneficiaries in the future, please view our FAQ’s.
Manage your insurance
If you’d like to change or cancel your insurance cover, you can call us on 1800 021 227 to help you through the process.
Please refer to the Insurance Guide for more information about varying or cancelling your cover.
Make a claim
Step by step process on how to make an insurance claim with us.
We understand this may be a difficult time for you and your family and we are happy to help you through this process.
Choose who receives your Death Benefit
You can nominate a beneficiary to receive your Super balance and any Death Cover you may hold in the event of your passing.
Australian Ethical Super provides you with three death beneficiary options for your account. Some important legal considerations are outlined below.
- Binding death nominations - you have the choice to determine who should receive your death benefit as long as the people you nominate are classified as a dependant under superannuation law. You can complete the Binding Beneficiary Nomination form to nominate your beneficiary. Please note you need to update your binding nomination every 3 years for it to remain valid.
- Non-binding death nominations (also known as a 'preferred nomination') – As this nomination is not binding, the Trustee has the discretion to pay your money to one or more of your dependants or your legal personal representative (i.e. the executor of your estate). You can make a preferred nomination from your online account from the ‘Beneficiaries’ section.
- No death benefit nomination - your benefit will be paid at the discretion of the Trustee to one or more of your dependants and/or legal representative. It's best to read the Product Disclosure Statement to understand everything you need to know about death benefit nominations.
Regardless of which option you choose, the Trustee must ensure that your money is paid to your dependants or legal personal representative.
The cost of Default Death and TPD cover is based on your age, the amount of Default Cover and occupation group. Insurance premiums are deducted from your super account monthly. Please refer to our Insurance Guide for further information.
The cost of IP cover is based on your age, sex, the amount of Default Cover, occupation group and IP options. Insurance premiums are deducted from your super account monthly. Please refer to our Insurance Guide for further information.
Default Cover is automatically provided when you are aged 25 and less than 67 and have had an account balance of $6,000 and receive a mandatory employer contribution. If you want cover before these conditions are met you can opt in to commence cover at any time by completing an Insurance Opt-in Form.
Please consider the impact insurance has on your retirement savings.
For further details on terms and conditions, please read our Insurance Guide.
If you don’t want Default Cover to commence automatically when you reach the eligibility conditions, you can opt-out of by calling us, writing to us or by completing the Insurance Choice form.
It’s important to note once you opt-out of Default Cover, you won’t receive Default Cover in the future. This means you won’t hold insurance cover and won’t be eligible to lodge an insurance claim should you suffer an injury or illness. Please consider how this may affect your dependants including your spouse, children or anyone who is financially dependent on you.
We understand people’s circumstances change so if you require insurance in the future, you will need to apply for insurance. The acceptance of cover is subject to the insurer’s approval (special terms likes loadings or exclusions may apply). You can apply by competing the Insurance Application form.
If you’d like to cancel your existing cover, you can do this, by contacting us (by phone or email) or by completing the Insurance Choice Form.
It’s important to note once you cancel your insurance you won’t be eligible to lodge a claim should you suffer and injury or illness after the cancellation date. Please consider how this may affect your dependants including your spouse, children or anyone who is financially dependent on you.
We understand people’s circumstances change so if you require insurance in the future, you will need to apply for insurance. The acceptance of cover is subject to the insurer’s approval (special terms likes loadings or exclusions may apply). You can apply for insurance by online via the member portal or by completing the Insurance Application form.
Please note if your account is unfunded or you leave the fund, your cover will be cancelled.
If you’re a member of Australian Ethical Super, you can have more than one super account, however you cannot hold more than one insurance policy with us.
If you hold multiple super accounts with other funds, there may be limitations which precludes you from claiming under multiple policies. Please be aware of the terms and conditions of all your insurance policies so you avoid paying insurance fees that you may not be able to claim on. Consider the impact of having multiple policies on your retirement savings.
Insurance in Superannuation Voluntary Code of Practice
Australian Ethical Super has previously stated its intent to adopt the Insurance in Superannuation Voluntary Code of Practice (the Voluntary Code). The Code had been scheduled to come into effect on 1 January 2022.
Since the development of the Voluntary Code, the majority of the requirements in the code have been overtaken by legislative and regulatory reforms. In addition, many of the elements of the voluntary code have already been implemented by Australian Ethical Super to improve member experience.
For this reason, the Code Owners announced on 1 July 2021 to replace the Voluntary Code. You can see that announcement here.
Guidance on issues not covered by legislation, including on improving outcomes for vulnerable members and claims handling for members with life insurance in group superannuation, has been jointly developed by the Code Owners and Australian Ethical Super will consider this guidance in our interactions with members.
Note: The Code Owners are The Association of Superannuation Funds of Australia (ASFA), the Australian Institute of Superannuation Trustees (AIST) and the Financial Services Council (FSC).
- Plain language in member communications
- Active management of insurance claims
- Defined timing for processing of claims
- Factsheets available on our website
The Code began on 1 July 2018, and super funds have until 1 January 2022 to fully implement the new requirements.
See our transition/implementation plan below and if you would like more information, please refer to the Voluntary Code.