Most people automatically get Death and Total & Permanent Disablement (TPD) insurance when they join a super fund.
Due to recent government changes, for some members this will be switched off on 1 April 2020 unless they make a choice to keep it.
- Existing members with account balances yet to reach $6,000 at least once as at 1 November 2019 must let their super fund know by 31 March 2020 if they want to keep their cover or they may have their insurance cancelled.
- New members joining from 1 April 2020 need to be aged 25 or over, and have an account balance of $6,000 or more, for insurance to be automatically provided. Members who are under 25 must opt in manually.