Protecting Your Super


The Federal Government’s Protecting Your Super Package Act comes into effect on 1 July 2019. The package is designed to protect Australians’ super savings from unnecessary erosion by fees and insurance costs.

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Putting members' interests first


The Federal Government’s Putting Members' Interests First Act comes into effect on 1 April 2020. This Act is designed to protect members with a balance less than $6,000 and who are under the age of 25 from balance erosion due to having insurance cover they may not need.

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Our commitment to you

Vision Super has started implementing the Insurance in Superannuation Voluntary Code of Practice and you can view our transition plan on our website.

We are doing this because we believe it will help our members to better understand and make more informed choices about their insurance cover. We have a set of insurance beliefs that underpin the insurance we offer our members; the code compliments those beliefs.

Your cover

You're automatically given death and total & permanent disability (TPD) and income protection insurance, when you are aged 25 years or over, your account balance is at least $6,000 and have received a superannuation guarantee contribution within 6 months (subject to the eligibility criteria).

You're free to apply to change your level of cover at any time (you might need to provide health information).

Most Australians are underinsured - are you one of them?

Your insurance cover can significantly affect you and your family's wellbeing in the case of your death or disability. The amount of insurance you need depends on your assets (savings, property and valuables) and commitments (mortgage repayments, children's school fees, family living costs, etc). 

Vision Super provides three types of insurance cover and offers the flexibility to choose the amount of cover to suit your unique needs.

Death cover provides your estate or beneficiaries with a benefit if you die.

Death and total & permanent disability cover provides you with a benefit if you die or are permanently disabled.

Income protection cover provides you with an income for up to two years if you can't work due to illness or injury*, or you can change your payment period from two years to pay you to age 65.

*The payment of death, TPD and/or income protection benefits is subject to the terms and conditions of the applicable insurance policy/policies. Please refer to the Vision Super Saver Insurance fact sheet for more information

Why insure with us?

Why insure with us?

When your insurance cover is supplied through your super fund:

  • Premiums are paid from your super account – so you don’t have to find the money from your take home pay.
  • You can choose to increase your super contributions to cover the premium costs.
  • Generally, death benefit payments are paid to dependants tax-free.

Why update your insurance?

Why update your insurance?

Your life changes and so do your insurance needs. The amount of insurance you need depends on your assets (savings and valuables) and commitments (mortgage repayments, children's school fees, family living costs etc). Try our insurance calculators to see how much cover you need.

Guaranteed insurability

Guaranteed insurability

You can increase your insurance cover to either twice your existing death and disability cover, or by $200,000 (whichever is lesser) usually without having to provide medical evidence within 90 days of one of these ‘Key life events’ happening:

  • Get married
  • Have a baby or adopt a child
  • Take out a new mortgage - must be your primary home. Excludes refinancing, investment property and land 
  • Death of your spouse
  • Get divorced
  • Send your child off for their first day at primary or secondary school
  • Become eligible for a Carer Allowance from Centrelink

You can shorten your income protection waiting period to 30 days (if it is currently 60 days) or if your salary is out of date, you can increase your cover by up to 25% of your existing sum insured, subject to the maximum monthly benefit of $30,000. To increase your cover you must apply within 60 days of a Key Life Event. To find out more click here.

Important: You must write to us within 90 days after one or more of the Key Life Events occur to make a change without filling in extra paperwork. 

Need to make changes to your cover?

Need to make changes to your cover?

Increase, reduce or cancel your insurance cover by completing the appropriate form(s) below:


Cancellation of Insurance

If you wish to cancel or reduce your cover you can do this at any time by:

  • Sending us a written notification
  • Completing an Insurance application / variation form 2
  • Online using the secure member portal
  • By telephone by contacting our Contact Centre on 1300 300 820

You may also cancel or reduce your TPD cover and retain Death only cover. Any cancellation or reduction of cover will take effect from the date on which we receive your request or the date specified in your request (provided it is after the date on which we receive your request), you will no longer be charged insurance premiums after your cover is cancelled. You will not be eligible to make an insurance claim for events or conditions that occur after your cover is cancelled. If you cancel your cover, and subsequently decide that you want to reinstate your cover in the future, you will need to make an application to the Insurer and may need to supply medical evidence in support of your application. Cover will not commence until the Insurer has approved your application and confirmed it in writing, and it may be subject to exclusions, special conditions and/or premium loadings.

If you are replacing your existing cover with alternative cover, you should not cancel your existing cover until the replacement cover is in place.

If you need help updating your insurance, you can call us on 1300 300 820. You can also email us. You may also like to seek independent financial advice to help you make a decision on cancellation.


Benefits and Costs of Insurance in Superannuation

We offer insurance cover to members of the fund based on the terms of our group life insurance policies entered into with our external insurer.

Group life insurance policies provide insurance cover to a group of individuals who share a common characteristic, such as members of a superannuation fund, the level of cover and cost of premiums is determined by the insurer based on the membership demographics of the fund, claims experience, statistics and actuarial information.  All eligible members are subject to the same terms and conditions agreed between us and the Insurer.

Eligible members receive automatic acceptance, more commonly known as default insurance cover, upon joining the fund.  This means that you can receive default cover without individual underwriting or providing us with any health information.

Providing insurance to members on the terms of group life policies allows us to negotiate discounted insurance rates resulting in lower premiums.  As a profit-to-member industry super fund, you are only charged the amount it costs to provide you with insurance cover.  Insurance premiums are deducted directly from your account on a quarterly basis. 

Please refer to the Insurance Guide for further information about insurance in your superannuation.

Salary increases

Salary increases

You can increase your income protection insurance cover, usually without having to provide medical evidence, within 2 months of an increase in your salary. To find out more click here.

Vision Super's insurance beliefs

At Vision Super, our members are always at the centre of everything we do. Insurance is designed to give our members peace of mind when life is going smoothly, and to provide a level of financial support when they need it most. We always endeavour to provide insurance designs that are equitable for all our members.

We follow these eight insurance beliefs:

  • 1. Safety net

    We believe in providing default cover that provides a reasonable safety net for members who have not chosen - or who are unable to take out - life or disability insurance individually.
  • 2. Flexibility

    We believe that our group policy should be understandable and flexible enough to meet members’ needs right across their life.
  • 3. Sustainability

    We believe we have a responsibility to balance our vision of helping members achieve the best possible retirement outcome and recognising that insurance premiums can erode members’ final retirement benefit.
  • 4. Education

    We believe that education is essential to help our members better engage and be more aware of their benefits.
  • 5. Assessment

    We believe that Income Protection, Total and Permanent Disability and Death claims must be assessed objectively based on their merits.
  • 6. Eligibility

    We believe that member insurance claims should be paid by the insurer, subject to meeting eligibility requirements and medical condition thresholds set out in the insurance policy.
  • 7. Fairness

    We believe claims without merit must be identified and not paid to avoid unnecessary premium increases for the broader membership.
  • 8. Trust

    We believe when delivering insurance to our members we should partner with a trusted and ethical organisation.


Do I need a lawyer when making a claim? people holding hands

We’d encourage you to talk to us before you engage a lawyer. Vision Super pays more than 85% of insurance claims from our members, so the likelihood is your claim will be paid if you work with us directly, and you’ll end up with more of your money. 

Many lawyers advertise that they’ll work for you on a ‘no win, no fee’ basis, but if your claim is approved, they may take a large chunk of your payout – generally around 30% of a member’s entitlement. Our insurance team is here to help you through every step of the claims process, including all the paperwork, without having to get a lawyer involved and potentially losing money you need to pay for medical treatment or maintain your lifestyle.


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