Insurance cover and inactive accounts
From 1 July 2019, insurance can only be associated with active superannuation accounts or with express consent of the member.
Any account that has no contributions received for 16 or more months is classed as inactive under the relevant laws.
Want to keep your insurance cover?
We understand that sometimes you don’t make contributions but want to keep your account and insurance cover going, such as when you take parental or study leave from work. So we will warn you before your account is inactive for 16 months and you can take action to enable your cover to continue while your account is inactive.
If your account is inactive and you would like your AvSuper cover to continue, you can take any of the following steps:
- nominate AvSuper as your fund for employer contributions – simply complete our Member choice form
- make a personal contribution to your account at any time – or get your spouse to make a spouse contribution to your account
- tell us you want your cover to continue despite having an inactive account – you can do this by completing the following form.
Electing to continue your AvSuper insurance
Things to note about making an election to continuing your cover:
- the election remains in place until your account becomes active or your insurance cover ends for any reason
- all insurance terms and conditions, including your duty of disclosure and maintaining a $1,200 minimum balance, are not affected by this election
- you can vary or end your cover at any time