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Insurance for super members with balances under $6,000

Government changes to protect your super

The Government has rolled out laws in 2019 aimed at protecting your super savings by making sure your balance isn’t reduced by the cost of insurance.

Want to keep your insurance in super?

    Putting Members’ Interests First (PMIF)

    Stops us from providing insurance cover to you if your super account balance hasn’t reached $6,000 between 1 November 2019 and 1 April 2020. This is a once-off measure to cancel insurance cover on low balance accounts. If your super balance reaches $6,000 or you opt-in to keep your insurance in writing by 1 April 2020, it won’t be cancelled.

    Need more information?

    Visit the Australian Securities and Investments Commission's (ASIC) MoneySmart website.

    Visit the super industry’s Protecting your super website at

    Consider your insurance in super options

    With the new insurance in super laws, it’s an important time to consider if having insurance in super is right for you. It’s about you making sure that you have the right type and amount of insurance cover to meet your financial needs now and in the future, because the cost of insurance is deducted from your super savings. 

    It’s also about making sure that you’re not paying for insurance cover that you may not need. If you have more than one super account, you should consider how paying multiple insurance premiums will affect your super savings. 

    Find out more on our Think ahead. Act now for the future section.

      How to keep your insurance

      If you’d like to keep your insurance cover and your super account balance is less than $6,000 – login and submit the online form. 

      Login to keep cover

      Other options to keep your insurance

      • Take steps to make sure your account balance reaches $6,000 by 31 March 2020.

        • Check if any more contributions are due to be made—if your employer makes contributions for you.
        • Or make sure your super receives a contribution or rollover. You can also set up regular contributions into your account.
        • Or look at what other super accounts you have—you may want to consolidate them into one account (also known as a rollover).
      • Or download the PDF form and once completed, return it to us.

      If you return the completed Choose to have insurance cover in super form, your insurance cover will stay in place until you tell us otherwise, provided there are sufficient funds in your super account to pay for the cost of insurance.