Important changes to insurance cover
For members in Divisions 1, 2, and 3
There are some important changes to insurance cover through Qantas Super.
Change of insurer
MetLife, a leading global insurer, will be Qantas Super’s new insurance provider from 1 July 2020. With the COVID-19 pandemic leading many insurers to review their premium rates, we negotiated with insurers to minimise premium increases for our members. When compared, MetLife’s pricing, product, and service offering were determined to be in the best interests of our members going forward.
The change of insurer does not change the terms and conditions of your current insurance policies, apart from what has been covered in this notice. Our existing insurance arrangement with MLC will end on 30 June 2020. However, if you make a claim that relates to an injury or illness which happened to you prior to 1 July 2020, it will be assessed by MLC.
Changes to insurance premiums
Insurance premiums will increase for most types of insurance cover from 1 August 2020. However, the premiums for your Standard Cover are paid for entirely by your employer. Your Standard Cover includes death, and total and permanent disablement, and income protection cover.
If you have voluntary insurance cover, or are considering applying for voluntary insurance cover, please be aware that premiums will increase for voluntary total and permanent disablement cover from 1 August 2020. Premiums for voluntary death cover will decrease from 1 August 2020.
Nobody likes price increases, and combined with the additional challenges our members are facing at this time, we understand this news will be disappointing. Please know that we have negotiated tirelessly on your behalf to keep premium increases as low as possible. You also have control over the level of voluntary insurance cover you have and can change or cancel your voluntary insurance cover at any time.
You can find the new premium rates for Voluntary Cover here.
We're here to help
To understand these changes in more detail or discuss your insurance options, you can call us on 1300 362 967 or book an appointment with a Super Adviser.