You can transfer your death, TPD, and IP cover from another super fund or a policy you hold directly with an Australian life insurer, into an Equip MyFuture account.
There’s no need for underwriting. Just note that some rules do apply.
We’ve provided a brief summary below, but you’ll find more detailed information in the Insurance in your super guide (located to the right).
For full details on changing or cancelling your insurance cover and any conditions that apply, refer to our handy Insurance in your super guide for members.
To apply to transfer your cover you must:
The maximum amount of cover you can have with Equip Super – including any amounts you transfer across from another insurer – is $1.2 million in total for death and TPD cover, and $15,000 per month in total for IP cover.
Please refer to the Insurance in your super guide for more information.
We’ll write to you once the transfer of your cover has been accepted. If your request is accepted, your death and TPD or IP cover in Equip will become fixed cover.
Conditions apply to waiting periods, benefit limits and benefit periods.
Please refer to the Insurance in your super guide for more information.
We recommend that you wait until after we’ve written to you to say your transfer of cover has been accepted before you cancel your other cover.
This will help to ensure you don’t find yourself without insurance cover for any period.
If your cover with your other provider continues, is reinstated, or if you exercise a continuation option, you won’t be able to make a claim under your Equip Super policy for the amount of the transferred cover.
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Adding more to your super can be a powerful way to build your savings over time and the type of retirement lifestyle you’ve been dreaming of.
Our qualified Financial Planners can help you determine which type of contribution strategy might be right for you.
If you have any queries about your insurance cover, or if you’d like to talk to someone about the types of cover that may suit your needs, our team can help.
