Death and TPD
Income Protection
Retaining Insurance Cover
Should a member’s contributions cease to be paid by an employer into their ACSuper account, the deductions for their cover will continue to be made from the member’s account until the earliest of:
- The date the Fund receives written confirmation from a member cancelling cover.
- The date the person ceases to be a member of the Fund.
- There are insufficient funds in the member’s account to pay for the premiums.
- The member reaches the cover expiry Age,
- The member dies or we consider them TPD.
- The member joins the armed forces of any country.
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Should a member’s contributions cease to be paid by an employer into their ACSuper account, the deductions for their cover will continue to be made from the member’s account until the earliest of:
- The member writes to the trustee requesting deductions to stop.
- The date the person ceases to be a member of the Fund.
- There are insufficient funds in the member’s account to pay for the premiums.
- The member dies.
- The member reaches the age of 65.
- 6 months from the effective date of the members last mandated employer contribution.
Note: For income protection you must be working greater than 15 hours per week and not be employed on a casual basis, to continue to be eligible for cover.
If a member’s cover ceases for any reason as outlined above, an application for cover (personal health statement) will be required to reinstate all levels of cover. Cover will not be reinstated until the insurer accepts the application and advises you in writing.
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Upon ceasing employment with a participating employer, you may retain death cover & TPD (limited definition may apply) only, by keeping your account open, with a balance sufficient for life insurance premiums to be deducted.
You also have the option of continuing full cover in a stand alone policy with MetLife Insurance Limited, if you leave employment and cease to be a member of ACSuper prior to retirement for reasons other than Death or Total and Permanent Disablement. For further advice and information please contact Australian Christian Services Financial Planning on 1800 646 777.
Please Note - The insurance policy available under this option is provided under the individual rates of MetLife Insurance Limited and as such will not necessarily be the same rates and conditions as offered through ACSuper. For a quotation of stand alone pricing contact Australian Christian Services Financial Planning on 1800 646 777.
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