Opt in to keep your insurance
The Australian Government requires people to opt in to keep the insurance cover they have through their inactive or low-balance super account. Your account will be defined as ‘inactive’ if no contribution or rollover has been received for a continuous period of 16 months, or as a low balance account if its balance is below $6,000.
This means that members with accounts that have been inactive for 16 months or members with balances below $6,000, who have not opted in, will have their insurance cancelled.
The changes are part of new Australian Government regulations designed to preserve the super balances of members with inactive or low balance accounts for longer, by stopping the insurance premiums they pay for cover they may not need.
I want to keep my insurance
Frequently Asked Questions
These case studies are based on real-life scenarios and show the difference that insurance could make.
We're here to help
If want to learn more or need help with making a decision about your insurance, you can get simple advice over the phone or face to face. It’s included as a part of your membership so there’s no extra cost.