A superannuation fund may arrange life, TPD or income protection insurance for eligible members. The fund’s insurance guide and current member record determine what cover is actually in place.
The distinction that matters
A super balance does not prove that insurance is active. Eligibility, account activity, employment circumstances and policy conditions can affect the arrangement, and fund benefit-release rules may also matter.
What to check
- Current insurance amount and active status.
- Premium deductions and cessation conditions.
- Definitions, exclusions and underwriting requirements.
- What happens on a fund change or rollover.
Example to discuss
Before consolidating super accounts, obtain written details of existing insurance and any replacement acceptance conditions so the transaction does not unintentionally remove cover.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.