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Keep your insurance cover

From 1 July 2019, the Protecting Your Super Package (PYSP) legislation, designed to protect member's super savings from unnecessary fees and insurance premiums takes effect.

For Sunsuper members, under the rules of the fund, this means that we'll cancel insurance cover if an account has not received eligible contributions* for 12 months, regardless of account balance, unless we're advised by the member that they'd like to keep the cover.

To let us know in writing that you wish to keep your insurance cover, simply complete and submit the form below.

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Declaration

By submitting this form, you are making the following declaration to Sunsuper in writing:

  • I have considered my insurance needs and wish to retain the insurance in my Sunsuper account, even if no eligible contributions are made to my account for continuous periods of 12 months or longer.
  • I understand that premiums will continue to be deducted from my account, and have considered the effect this will have on my super balance in retirement.
  • I acknowledge that if my account remains inactive my insurance cover may still stop in the future in the circumstances outlined in my Insurance guide.
  • I understand that I am still able to cancel my cover at any time in the future.

*Note, under the ‘Protecting Your Super’ legislation, the maximum period of not receiving an Eligible Contribution before your insurance cover is cancelled is 16 months. To align with our commitment to comply with the Insurance in Superannuation Voluntary Code of Conduct and to further help reduce the impact of insurance premiums eroding your account, we have selected a period of 12 months.