Putting Members’ Interest First (PMIF)

No Insurance cover for accounts under $6,000 or if you’re under 25 years of age

The Government has recently passed new legislation to ensure that superannuation members with low account balances are not paying premiums for insurance cover that may erode their retirement savings.

From 1 April 2020, any new Christian Super members joining OR waiting for their default insurance cover to commence won’t receive default cover until they’re over the age of 25 AND have a minimum balance of $6,000.

What we will do:

We will be turning off your insurance on your account from the 1 April 2020 if:

  • Your account balance is less than $6,000
    OR
  • You are under 25 years of age

For existing Christian Super members, the following will occur:

If we do not hear from you before 1 April 2020 and your account balance is below $6,000 (on this date) or you are under 25 years of age, your insurance cover will be cancelled effective 1 April 2020.

If your account balance reaches $6,000 between 1 November 2019 and 31 March 2020 and you are over 25 years of age, your insurance cover will not be cancelled.

What if I want insurance cover and I’m over 25?

If you wish to maintain your insurance cover, you need to:

What if I’m under 25 and I want insurance cover?

You will need to advise us that you would like to elect standard insurance cover. To do this you will need to:

What if I do not want to keep my insurance cover?

If you do not wish to maintain your insurance cover and your account balance remains below $6,000, you do not need to take any further action. Your insurance cover will be cancelled on 1 April 2020. If you would like to ensure your insurance is cancelled or you want to cancel this cover before 1 April 2020, please contact our Member Care Team on 1300 360 907 or email us at insurance@test.christiansuper.com.au.

Need help?

Our Member Care Team is here to help you.
Phone1300 360 907, 9:00am – 6:00pm (AEDT) Monday to Friday
Emailmembers@test.christiansuper.com.au

If you are unsure about whether or not you should keep your insurance cover, we encourage you to use our Christian Super Equip advice tool, available through your online account. Alternatively you can call our Member Care Team to book an appointment with an adviser to get a better understanding of your insurance needs.

For further information about ‘Cancellation of Insurance Accounts’, you can visit ASIC’s MoneySmart website www.moneysmart.gov.au