Understanding insurance in super

You might hold insurance through your super fund and if you do, it might be cancelled if you or your employer haven’t made a contribution for the last 16 months.

On 1 July 2019, the Government’s Protecting Your Super package introduced new laws designed to protect members from paying unnecessary fees and insurance premiums. The new laws apply indefinitely so you may be affected at some point in the future. So, it’s worth checking your insurance in super.

The easiest way to know if you’re affected is to open and read any letters, emails or SMS messages you receive from your super fund.

If you haven’t received any communication, but think you should have, reach out to your fund – they may have been trying to contact you at an old address.

You might not have to do anything, but it’s a good idea to check – your future self will thank you!

See your options

What you need to know

To help break down what’s happening and what it could mean for you, we’ve created a simple animation to take you through the changes and how to check if you’re affected.

Not sure where your super is?

Log in to MyGov and then link to the ATO where you will see all your super fund accounts

Read More

Learn more about Protecting Your Super?

Visit ASIC’s Moneysmart website

Read More