Do you need to tell us you want to keep your insurance by 20 June 2019?6 Jun 2019
New legislation means some of you will need to tell us in writing if you want to keep you current insurance cover.
We recently wrote, emailed and sent an SMS to affected members to let them know.
But if you’ve not had any money go into your account in the last 16 months, this could be you.
Unless you have opted out or are not eligible, all Media Super members have insurance cover within their super account.
We recently wrote, emailed and sent an SMS to some of our members to let them know about changes to superannuation legislation called the Protecting Your Super Package and what this means for their insurance cover.
Below are some FAQs on your insurance and how you can keep your cover if you are affected.
How to keep your insurance cover
- Complete this form before 20 June 2019 OR
- Arrange for a contribution into your account before 1 July 2019.
What are the benefits of insurance within super?
Insurance through super is often more cost effective than cover outside your super. For eligible claims, insurance provides you and your loved ones with a selected amount of back-up income should you become ill, injured or die.
Need to know more about your insurance cover?
- Call our Super Helpline on 1800 640 886 or if living overseas please call +61 3 8687 1854, or
- Log in to your account to view your insurance cover with us.
Forgotten your PIN or don’t have one? You can reset it online or contact or Super Helpline on 1800 640 886 for assistance.
Please note for members living overseas: Insurance cover for members living overseas ceases after 5 years. Please see the Insurance Guide for further information and contact us if this applies to you.
What if I don't want insurance cover?
However if we don’t hear from you, and we don’t receive any more contributions into your account, your insurance cover will be stopped from 1 July 2019.
What if I change my mind and want my insurance cover back after 1 July 2019?
You may not be able to reinstate your cover without going through medical underwriting. If you change your mind after 1 July 2019, give us a call and we’ll help you through the next steps.
More information about the Protecting your Superannuation Package can be found at ASIC’s MoneySmart website.
If you have any questions please call our Super Helpline on 1800 640 886. You can reach us between 8.00am and 7.00pm (AEST/AEDT), Monday to Friday, except for national public holidays.