Insurance matching and transfers

Moving super funds and insurance shouldn’t be difficult.

You can match or transfer the amount of your existing Death & TPD or Death Only insurance and/or the amount of your existing Income Protection insurance held with another fund by following the steps below:

  1. Complete a Member Insurance Matching or Transfer Form, answering all the questions to the satisfaction of the insurer.
  2. Attach a copy of your most recent statement detailing the type and level of cover you have with your other fund (if your cover has changed since this statement, then provide evidence of the new type and levels of cover).
  3. For Death & TPD / Death Only. If relevant, attach a copy of any special acceptance terms that were agreed upon with your other fund (e.g. any restrictions, exclusions or limitations).
  4. For Income Protection. Complete a Member Income Protection Matching/Transfer Form making sure you answer all the relevant questions and attach a copy of your most recent statement detailing the type and level of cover you have with your current or other fund.

There are some limitations on the amount of matched or transferred insurance. See the further information below for what’s relevant to you.

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TPD or Death Only

You can only apply for the matching or transferring of cover if you’re under 61 and you haven’t made, or you’re not entitled to make, a claim in relation to your cover held with the other fund.

We’ll only match or transfer cover up to $1 million where it’s not subject to a premium loading. If there are any medical or lifestyle exclusions attached to the cover, these may continue to apply to your new cover. Any amount above this needs to be assessed by our insurer.

If your application is accepted, your new insurance cover will be subject to our terms and conditions. These may differ from your existing policy (policies), so please read our terms and conditions before you cancel any other policies.

We’ll provide you with a sufficient number of Fixed Premium units to ensure that the amount of insurance provided, as a minimum, matches the cover you held with your other super fund up to $1 million in Death & TPD cover.

Income Protection

You can only apply for the matching or transferring of Income Protection cover if you’re under 61 and you haven’t made - or you’re not entitled to make - a claim in relation to your cover held with the other fund. If accepted by us, this cover will replace any existing Income Protection cover you may have with us.

We’ll only match or transfer Income Protection cover where it’s not subject to a premium loading. If there are any medical or lifestyle exclusions attached to the cover, these may continue to apply to your new cover. A maximum benefit period of two or five years will apply to the matched or transferred cover.

The maximum amount of cover you can have matched or transferred is $1,400 per week, subject to total Income Protection cover being less than $1,600 per week (before tax). The waiting period for cover with the other fund must be 90 days or less.

Important: Don’t cancel your existing insurance arrangements until you’ve received confirmation in writing that we’ve accepted your application. If you don’t cancel your previous cover within 30 days of when your matched or transferred cover starts with us, then, in the event of a claim, our insurer will reduce any benefit payable under this policy by the amount of any benefit paid or payable under your previous policy.