Bringing your insurance
together
Have your insurance cover and super in one place.
Consolidating your insurance
You may be able to consolidate your super or insurance if you have an MLC MasterKey Business Super, MLC MasterKey Personal Super or MLC MasterKey Super Fundamentals account with us, even if your insurance is with another provider.
Bring your insurance cover together
If you have insurance through one or more of your super accounts, you can apply to bring it together with the insurance cover you have with us.
To bring your insurance cover together, simply complete and send us a Consolidate your insurance cover form.
Make sure you transfer your insurance cover before your super, otherwise your insurance will be cancelled.
Things to consider
There are a few things to consider before you bring your insurance cover into one super account:
- Make sure you meet the eligibility requirements as set out in the relevant Insurance Guide, which is part of the Product Disclosure Statement. You can find your Insurance Guide by logging into your account and heading to the Statements and Letter menu.
- Make sure you’ve got the right insurance cover for your needs. The insurance cover that’s right for you depends on things like your family and financial commitments, income and lifestyle. Before you change your insurance, you should speak with a financial adviser.
- Review the terms and conditions in the relevant Insurance Guide which is part of the Product Disclosure Statement (PDS).
- Check to see what insurance cover you currently have in MLC MasterKey Business Super. If you have insurance cover that’s linked to your age or salary—it will change to a fixed amount of insurance. This means that the amount of cover won’t change, even when your age or salary does, except any TPD cover when you reach age 61.
- Once your super has been consolidated, you may want to cancel any insurance cover you have elsewhere.
It’s important to know that any conditions you have on your current insurance cover with us (or insurance you’re consolidating)—such as premium loadings or exclusions, will continue to apply.
For further details, log in to your account to see the Consolidate your Insurance cover form.
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