No insurance cover? Here’s how to get it

Ever pondered how you would pay your bills if you suffered a life-changing injury or illness? Or, how your family would survive financially if you were to unexpectedly pass away? We can’t always help the curveballs life throws our way, but having insurance cover is one way we can protect what’s important to you if something was to rear it’s ugly head.  

You have access to death, total and permanent disablement (TPD) and income protection cover in your super – and it could pay in spades if you (or your loved ones) become eligible for a benefit in the future.
 

Had a look in MemberOnline and have zilch insurance? 

There could be one of 3 reasons why. 

  1. You’re under age 25 and/or have less than $6,000 in your account: these are the key eligibility criteria to receive insurance 
  2. You previously cancelled your insurance cover: in this case, you’d only be covered up to the date of cancellation 
  3. Your insurance cover was automatically cancelled: because your super balance dropped below the amount needed to pay your insurance fees, or when the age and balance requirements came into effect in 2020, or due to 16 months of account inactivity.  

Decided you need insurance cover?   

If you have financial commitments or a family who relies on you and your income, insurance cover could be a good move for you.  

“I’m not yet eligible and have never held insurance cover with CareSuper”
You can opt in for standard death and TPD insurance cover here. Insurance will kick in as long as you’ve received at least one employer contribution.

“My cover was previously cancelled” 
You can always apply for insurance cover through MemberOnline (if eligible) or by completing and returning the relevant form. Your application will be subject to a health check and our insurer’s approval.

Next steps 

Sorting your insurance is an important part of adulting and the sooner you get it in place, the more confident you can be. Here’s what to do in 5 steps.  

  1. Have a read of your relevant Insurance Guide for the full detail on your insurance options and the T&Cs
  2. Check if you have any other cover outside of CareSuper 
  3. Crunch some numbers with the Insurance calculator
  4. You’re not alone: give us a buzz if you’d like some advice about your insurance needs* 
  5. Opt in, or apply for insurance cover, in MemberOnline or via the relevant form, 

 

*Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766. 

Information correct as at 7 August 2024.