AustralianSuper Select FAQs

If you’re new to AustralianSuper:

You'll receive basic insurance¹ cover arranged by your AustralianSuper Select employer once all eligibility requirements have been met. Your employer may have specific insurance arrangements based on your employment type, for example if you’re a permanent employee, or a casual or part time employee.

To find out more about your employer’s basic cover arrangements, check the AustralianSuper Select booklet for your employer when you log into your account and go to Insurance, or under the 'Insurance' tab on the AustralianSuper microsite set up for your employer. If you don’t know where to find your microsite, you can ask your employer.

If you have an existing AustralianSuper account:

You’ll automatically have your existing (non-Select) AustralianSuper account moved to AustralianSuper Select.

If you only have basic cover in your existing (non-Select) AustralianSuper account, you’ll receive the AustralianSuper Select basic cover arranged by your employer. If you have cover other than basic cover in your existing (non-Select) AustralianSuper account – that is you have age-based plus extra (fixed) cover OR total fixed cover, OR multiples of age-based cover – you’ll receive the AustralianSuper Select basic cover arranged by your employer, plus the total amount of your existing cover will be added as extra (fixed) cover.

A work rating classifies the usual activities of your job into one of three ratings: Blue Collar, White Collar or Professional. Your work rating is one factor that determines how much you pay for your insurance cover¹.

As an AustralianSuper Select member, you have an individual work rating and a category work rating.

• Your individual work rating is Blue Collar unless you’re eligible to change to White Collar or Professional and your application is approved by the Insurer. Please note that a Blue Collar work rating is the most expensive.
• Your category work rating² is unique to your AustralianSuper Select employer and it only applies while you’re employed with them. You can’t change your category work rating because it’s arranged by your employer.

The work rating we use to calculate the cost of your cover

If your individual and category work ratings are different, we’ll apply the cheaper work rating to calculate the cost of your cover. This is your applied work rating. That’s why it’s important to check your individual work rating – because while you’re with your AustralianSuper Select employer, if your individual work rating is less expensive than your category work rating, your cover will be less expensive.

To check your current individual work rating and to apply to change it online, log into your AustralianSuper account and go to Insurance.

For more on your cover in AustralianSuper Select, read the Insurance in your super guide for AustralianSuper Select members.

If you’re thinking of combining super from your other fund into AustralianSuper, it’s important to know that combining (consolidating) your super doesn’t automatically transfer any insurance¹ cover you have to AustralianSuper³.

If you want to transfer your insurance cover, you’ll need to do this before you consolidate your super with us. You should wait until you’ve received written confirmation from us that your transfer request has been accepted and your cover has started before you combine your super.

See the Applying for an insurance transfer fact sheet for important information about applying to transfer insurance. Then log into your account and go to ‘Insurance’ or complete the Insurance transfer form.

Please check whether AustralianSuper basic cover suits your needs and circumstances. You may need to tailor the cover to your needs (apply to increase or decrease the amount of cover you have), as your insurance with your other fund will stop as soon as you close that super account.

You’ll find details about your cover, the cost of it and who pays for it under the 'Insurance' tab on the AustralianSuper microsite set up for your employer.

As an AustralianSuper Select member, your employer arranges the basic insurance¹ cover⁴ that’s provided with your super account. Age and other conditions apply.

This cover provides a basic level of protection if you die or become ill or injured (age limits and other conditions apply). The cost of your basic cover will either be paid for by your employer, or you’ll pay for it yourself.

If you pay for your cover, the cost of it will be deducted monthly from your super account. Check the AustralianSuper Select booklet for your employer for details about your cover and to find out who pays for it.

You can apply to change or cancel your cover at any time. Read the Insurance in your super guide for AustralianSuper Select members to find out how.

Any cover your employer pays for will start once you’ve received an employer super contribution from your AustralianSuper Select employer, as long as you’re 15 or older and you have enough money in your super account to cover the cost of the first month of insurance  (other conditions apply).

Any basic cover you pay for will start once you’ve turned 25; and have a super balance of $6,000; and have received an employer super contribution after you meet both age and balance requirements (other conditions apply). The cost is deducted monthly from your super account, so you’ll need to have enough money in your super account to pay for your cover.

See the Insurance in your super guide for AustralianSuper Select members for more detailed information about when cover starts.

As a new member, you can apply to start your basic cover earlier once, without providing detailed health information for the Insurer¹ to consider. You’ll need to apply within 120 days from the date of your welcome letter (time limits and other conditions apply).

Eligible employees who’ve joined AustralianSuper Select receive a tailored insurance¹ cover design, agreed by your employer and AustralianSuper.

Visit the AustralianSuper microsite set up for your employer to download the Insurance in your super guide for either AustralianSuper Select or AustralianSuper plan, and the AustralianSuper Select booklet for your employer, for more about:

• basic cover (cover amounts and costs, when it’s provided automatically and how to apply),
• changing or cancelling cover, and
• transferring any existing insurance cover.

Our insurance¹ options are flexible, and you can apply to change or cancel your cover as your life and needs change.

Before you apply to change your cover you should read the Insurance in your super guide or, for AustralianSuper Select, the Insurance in your super guide for AustralianSuper Select members. It contains terms and conditions about insurance, including costs, your eligibility for cover, how much you can apply for, when cover starts and stops and limitations or exclusions.

Cancel your cover

To cancel all or part of your cover log into your account and go to Insurance or complete a Cancel your insurance form.

Before you do, there are a few important things you should think about.

If you cancel your cover:

• you or your beneficiaries won’t be able to make an insurance claim if you die, or suffer an illness or injury after the cancellation.
• you might not be able to get cover later. That's because you'll need to reapply and provide health information for the Insurer to consider.

You should consider getting financial advice to help work out if cancellation is right for you.

If you do cancel your cover, the cost of it will stop being deducted from your super account.

Change your cover

Log into your account or use the Change your insurance form to:

• start your cover
• apply for new cover
• increase your cover (maximum limits apply)
• decrease your cover
• change your cover design
• change your Income Protection benefit payment period and/or waiting period
• change your individual work rating.

Your insurance cover will continue unchanged while you’re on parental leave or leave without pay. Cover will be maintained, and insurance costs will continue to be deducted until cover ends based on the rules regarding when Death, TPD and Income Protection cover stops (e.g. lapsing, not enough funds to pay for cover). You don’t need to notify AustralianSuper of this leave.

Yes, you can apply for new cover¹ or to increase your cover once every 12 months and you’ll only need to answer a few health questions. Apply within 120 days of a life event occurring, such as getting married or divorced, having or adopting a child, or your child starting primary or secondary school.

For a full list of life events, more information about this cover and how to apply, refer to the Insurance in your super guide for members in AustralianSuper Select.

We’ll write to you if we haven’t received any type of contribution or rollover into your super account for 9, 12 and 15 months. Your cover¹ will end if we don’t receive any contributions or rollovers into your account for 16 continuous months.

You can make an election to keep your insurance cover so it doesn’t stop if your super account becomes inactive.

If you leave your AustralianSuper Select employer your super account will move from AustralianSuper Select to AustralianSuper plan. If you’re eligible, you’ll keep the same amount of cover¹ you already have when you move to AustralianSuper plan, and it will become fixed cover.

Your category work rating will no longer apply, and the cost of your cover will be based on your age, level of cover and your individual work rating.

You can apply to change your individual work rating anytime. Check if you may be eligible to apply for a White Collar or Professional individual work rating by answering a few questions. Go to australiansuper.com/WorkRatingTool

You’ll pay the cost of your total cover which will be deducted monthly from your super account.

Your Income Protection waiting period will change to 60 days if it’s 90 days with your AustralianSuper Select employer.

We’ll write to you if this happens. To learn more, see the 'Changing jobs? Take AustralianSuper with you' section in the Insurance in your super guide for AustralianSuper Select members.

1. AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
2. If you’re a Clough employee, you only have an individual work rating. You don’t have a category work rating.
3. Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice. If you wish to claim a tax deduction for personal super contributions, you must lodge a notice of intent to claim a tax deduction with your other fund before you combine your super.
4. The cover provided automatically is based on your division, age, account balance and if you are receiving employer contributions. You can apply to increase, decrease, cancel or change your cover anytime. Age limits and other conditions apply. Read the Insurance in your super guide for more information.

If you know you have super with another fund, you can consolidate your super by:

• completing the Consolidate your super form online or
• downloading and completing the Combine your super form (PDF) and emailing it back to us.

It’s important to know that combining (consolidating) your super doesn’t automatically transfer any insurance cover you have to AustralianSuper¹. If you want to transfer your insurance cover, you’ll need to do this before you consolidate your super with us. You should wait until you’ve received written confirmation from us that your transfer request has been accepted and your cover has started before you combine your super.

See the Applying for an insurance transfer fact sheet for important information about applying to transfer insurance, then log into your account and go to Insurance or complete the Insurance transfer form

1. Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice. If you wish to claim a tax deduction for personal super contributions, you must lodge a notice of intent to claim a tax deduction with your other fund before you combine your super.

Your super savings may last 20 years or more when you retire - some of the savings may even outlive you, so it’s important to let us know where you want your money to go.

It might come as a surprise, but superannuation is not automatically treated as part of your Estate. Unless you have a valid binding beneficiary nomination with AustralianSuper, we may be required to determine how to best pay out your account balance, and any life insurance benefits you have with us.

There are limits on who you can nominate, and tax implications, so it may be worth considering professional advice.

FIND OUT MORE ABOUT YOUR BENEFICIARY OPTIONS

Yes. Once you’re a member, you can set up online access via the member portal and download the AustralianSuper app in a few simple steps, to manage your super, anywhere, anytime.

When you log in to the app for the first time, you’ll need your AustralianSuper account login details. You can then follow the prompts to set up a four-digit PIN or face recognition for future logins.

To set up your online access:

• visit australiansuper.com/register. You’ll need your member number and email address.
• Once you’ve set up your online access, visit australiansuper.com/mobile to download the app for free,
• learn about the simple steps you can take to help protect your privacy and identity from theft, including multi-factor authentication, by visiting our Keeping your super safe page.

Please visit our Help & Support page or email us at as.select@australiansuper.com