Do you have insurance already?
You may already have insurance cover with another super fund. Or life insurance you’ve taken out. Your employment EBA might even include some insurance cover.
If you already have cover and you’re thinking about applying for insurance through AustralianSuper, there are a few things to think about. Do you need more cover? Who pays for the cover you already have (you or your employer)? If you pay for it, are the costs deducted from your super account or your take home pay?
If you decide you need Income Protection through AustralianSuper as well as elsewhere, you might be able to claim on both policies, so you receive one benefit at a time.
From another super fund or insurer
You can apply to transfer any existing Death, Total & Permanent Disablement (TPD) or Income Protection cover from your individual insurance or other super fund to AustralianSuper.
There are limits to how much you can transfer. Any conditions (restrictions or exclusions) that apply to the cover you’re transferring, will continue to apply after the transfer.
From another AustralianSuper account
Do you have more than one AustralianSuper account? If you do, you might be eligible to merge your accounts and any insurance you have. Call us on 1300 300 273 to talk about your options.
Applying to transfer your cover
We recommend you consider getting financial advice to help work out if transferring your insurance cover is right for you. When you’re ready, you can apply online or fill in a paper form.
AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.