How to change your insurance cover

Having the right amount of insurance cover, as part of any financial plan, will give you peace of mind that if anything were to happen to you, you and your family will be able to cope.

That’s why, at Health Super, you can apply to increase your level of insurance at any time.
 

Increase your insurance cover in 3 simple steps

important tip:  To find out how much insurance you may need, calculate how much you think you will need to cover expenses such as bills, education, leisure or any other day-to-day costs. If you need help, you should also speak to an appropriately qualified adviser.

1. Make sure you are eligible

You need to meet a number of eligibility conditions like age, health and medical history before you can obtain additional insurance. For further details regarding eligibility, please read the insurance section of the current Product Disclosure Statement. 

2. Complete the application form

If you decide to increase your level of insurance, you must complete the
insurance application form and a Confidential Personal Statement. Please read the insurance section of the Product Disclosure Statement before making any decisions regarding your insurance arrangements in the Fund.

3. Sign and send

Once you have completed the forms simply sign and send them to Health Super:

Health Super
Locked Bag 2900
Collins Street West VIC 8007

If your application for additional insurance is approved by AIG Life, your additional insurance cover will begin from the date noted in the letter of acceptance.  Please note that additional cover is subject to you having sufficient funds to meet the minimum account balance requirements ($1,000).
The cost of any Death, TPD and Income Protection cover is deducted directly out of your super account and will appear on your annual Benefit Statement each year.
Premium rates for Death only, Death and TPD and Income Protection cover are provided in the insurance section of the current Product Disclosure Statement.

 

Want to reduce or cancel your insurance cover?

You can cancel or reduce any insurance cover you have (including automatic insurance cover) at any time by completing the insurance reduction/cancellation form.

Your insurance will generally be reduced or cancelled once Health Super receives the original copy of your signed request.
Before you make the decision to cancel your insurance cover, you should be aware that if you wish to reinstate your insurance cover at a later time, it will then be subject to the completion of a Confidential Personal Statement and any underwriting conditions as determined by AIG Life.  Insurance cannot be backdated.

You should seek advice from a licensed or authorised financial adviser about your insurance needs.