Insurance is available to provide members and their families with financial security if difficulties are encountered. It can help protect you and your family in the event that you die, become totally and permanently disabled, terminally ill or are temporarily unable to work due to injury or illness.
With Australian Ethical, you will be provided with insurance cover by default when you join, but it’s up to you if you’d like to keep your insurance at that level, cancel it, or apply for more.
The insurance you receive on joining Australian Ethical is subject to eligibility criteria and may be cancelled in certain circumstances, for example, if you leave the fund. Insurance for some members may exclude pre-existing illnesses, injuries or conditions, so it’s important to read the Insurance Guide and that you understand the important terms and conditions that apply.
Having the right type of insurance and the right level of insurance cover is an important part of planning for the future and protecting the finances of yourself and your family. While people insure their car and home, when it comes to personal insurance many people are under insured. Think about how you or your family might cope financially if you were not able to work either temporarily or even permanently due to illness or injury or in the event of your death.
Insurance is complex so we recommend speaking with an appropriately licensed adviser before making any decisions. Please read the Insurance Guide which explains important conditions and terms that apply to your insurance cover.
We offer insurance cover through MetLife Insurance Limited. Read our fact sheet for more information about the different types of insurance available through your super.
Australian Ethical has elected to adopt the new Insurance in Superannuation Voluntary Code of Practice (Code). Though our insurance offering already complies with many aspects of the Code, we will work hard with our providers MetLife and Mercer Administration to identify any further opportunities for improvement. Some of the key principles of the Code are:
The Code begins on 1 July 2018, and super funds have until 30 June 2021 to fully implement the new requirements.
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