Opt-in to keep or start your automatic (Default) insurance with us.
Under super legislation, from 1 April 2020, your 3 units of Default Death and Total & Permanent Disablement (TPD) insurance won’t start until your account balance reaches $6,000 and you’re at least 25 years old (both of these need to happen). However, you can opt-in to have your insurance start before you’ve reached these two milestones.
NOTE: Your insurance cover will be cancelled if your super account hasn’t received any money for a continuous period of 16 months (becomes inactive). You can also opt-in to stop your insurance cover from cancelling as a result of inactivity.
If you don’t opt-in to keep your insurance and your cover ends (but you still want it), the insurer may need to assess your health in order to restart your cover – this means you may be required to go through underwriting.
REMEMBER: If there isn’t enough money in your super to cover the cost of your insurance, your cover will be cancelled. You can also cancel your cover any time if you change your mind about having insurance with us.