Why transfer your insurance to us
You might already have cover with another super fund, an insurer or even your employer. If you’re thinking about transferring your cover to AustralianSuper, it’s important to understand the process, eligibility requirements and implications of transferring insurance before taking action.
Important considerations before you transfer
How much can you transfer
- Income Protection: Up to $20,000 a month or 85% of your salary, whichever is lower
- Total & Permanent Disablement (TPD) cover: Up to $2 million
- Death cover: Up to $2 million
Once transferred, your cover can’t exceed the maximum cover amounts, and existing conditions may apply.
Eligibility criteria
To be eligible to transfer your insurance to us:
- you must be employed (for example: full time, part time or casual) or self employed
- your current cover with us, or with your other super fund or insurer, can’t have any loadings or exclusions
- you must have never been declined insurance cover due to medical reasons
- you’ll need to provide evidence of the cover you have with your other super fund or insurer.
Confirming acceptance before cancelling other insurance
Make sure you wait for confirmation of acceptance before cancelling your existing insurance. You may be eligible to transfer your cover even if your previous super account is closed.
Exclusions, loadings and medical declines
Help and advice options before your transfer
How to transfer
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1. What you’ll need
Provide evidence of your existing cover using one of the following documents. It must be date stamped and/or issued within the last 90 days.
- last member statement from your other super fund
- screenshot or printout of your other super fund's account online
- statement from your other insurer that shows your cover amounts and types
- insurance certificate of currency.
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2. Application process
Apply via your account online or the mobile app. Or download and complete the Insurance transfer form.
If you're not a member, find out how to join.
If you don't have online access to your account, register now.
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3. Important to note
Don't cancel your existing insurance until you receive written confirmation from AustralianSuper that your transfer has been accepted.
Definitions of loadings and exclusions can be found in the Words and terms used section of the Insurance in your super guide.
The maximum amount of TPD cover is $3 million and up to $30,000 a month or 85% of your salary1 (whichever is lower) for Income Protection. There's no maximum amount for Death cover.
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4. Transfer process
The Insurer2 will make the final decision about your transfer. If accepted, you'll need to cancel the insurance cover with your other super fund or insurer within 60 days.
After your cover has been transferred
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Death and TPD cover
- You’ll receive the Death and/or Total & Permanent Disablement (TPD) cover amount you requested to transfer. This will be added to any cover you already have with us.
- The additional cover will be fixed, rounded up to the next $1,000.
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Income Protection
Your Income Protection will be fixed cover, and:
- Your cover amount will be the amount you've requested to transfer (rounded up to the next $100 a month), unless the amount you've requested to transfer is less than or equal to your existing AustralianSuper cover.
- Your cover amount with us won't change if the amount you've requested to transfer is less than or equal to your existing AustralianSuper cover.
- The waiting period and benefit payment period you've requested will be applied to your Income Protection with us (subject to any occupational exclusions).
Waiting periods
We’ll apply the waiting period you’ve requested to the Income Protection you have with us.
Benefit payment period
We’ll apply the benefit payment period you’ve requested to the Income Protection you have with us, subject to any occupational exclusions.
Applying to transfer your cover
Apply for insurance by logging into your account online.
Log into your accountDisclaimers
- Annual before-tax salary earned from your regular job(s), excluding Superannuation Guarantee (SG) contributions.
- AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Fees may apply.