New Eligibility criteria introduced 29 March 2020
Australian Government reforms restrict when super funds can provide automatic insurance cover to members. The purpose of this is to help protect members’ retirement savings from being eroded by premiums for insurance cover they may not want or need.
Under the Putting Members Interest First reforms effective from 1 April 2020, we cannot automatically provide insurance cover to members before they attain age 25 or before their account balance reaches $6,000. These age and balance requirements are now a key component of the eligibility criteria for you to automatically receive Standard insurance cover. Sunsuper applied these age and account balance requirements from 29 March 2020.
Members have the option to request Standard insurance cover before the age 25 and $6,000 account balance requirements (subject to them meeting the other eligibility criteria).
For full terms and conditions, refer to the Sunsuper for life Insurance guide.
Cover available to you
* Continuation of cover is subject to their being sufficient funds available in your Super-savings account to pay the weekly premium. For full terms and conditions, refer to the Sunsuper for life Insurance guide.