If you transfer into the Personal Plus division from another division, you will receive Death only or Death and Total and Permanent Disablement (TPD) insurance cover equal to the default base cover you held previously (subject to policy criteria and conditions) and new premium rates will apply. You will need to pay for this insurance cover and the premium will be based on a weekly unitised rate. A 15% rebate will be credited to your account for any insurance premiums you pay for. This cover will decrease as you get older. Default cover is determined by your age as at the last 1 July**. Any Voluntary Cover* that you had will also be transferred and will be based on the applicable TelstraSuper Personal Plus Voluntary Cover rates.   

If you had Income Protection cover, you may be able to continue this cover providing you meet our eligibility requirements (see the Continue your Income Protection cover section below).

If you are under 25 years of age or have an account balance that is less than $6,000, you will be required to complete an Opt-in Member paid default insurance cover form within 120 days of commencing employment in order to receive member paid default cover. If you have previously completed the Opt-in form or otherwise made an election, this will not be required.

** Refer to the TelstraSuper Personal Plus Insurance Guide for the amount of age-based Death & TPD cover eligible members can receive.
* Voluntary cover is cover that is obtained by satisfying our underwriting requirements and which is not top-up cover or default cover.

In order to continue the Income Protection cover that you had in another division of the Fund, you will need to:

1. Commence permanent employment with a new employer; and
2. Complete a Continuing Income Protection form and submit it to TelstraSuper within 120 days of leaving your Telstra Group or eligible Telstra-approved employer’; and
3. Arrange for your new employer to pay a Superannuation Guarantee contribution into your new TelstraSuper Personal Plus account within 180 days of leaving your Telstra Group or or eligible Telstra-approved employer

You will receive a letter from TelstraSuper confirming your insurance details including premiums and what you need to do to keep your Income Protection insurance in TelstraSuper Personal Plus. 

If you don’t opt-in within this time you will need to go through underwriting before insurance can be approved. 

Death & TPD insurance cover

If you transfer into the Personal Plus division from another division, you will receive Death only or Death and TPD insurance cover equal to the default cover you held previously (subject to policy criteria and conditions) and new premium rates will apply. You will need to pay for this insurance cover and the premium will be based on a weekly unitised rate. This cover will decrease as you get older. Default cover is determined by your age as at the last 1 July**. Any Voluntary Cover* that you had will also be transferred and will be based on the applicable TelstraSuper Personal Plus Voluntary Cover rates.

* Voluntary cover is cover that is obtained by satisfying our underwriting requirements and which is not top-up cover or default cover.
** Refer to the TelstraSuper Personal Plus Insurance Guide for the amount of age-based Death & TPD cover eligible members can receive.

If you're under 25 years of age or your account balance is less than $6,000 on the date of transfer and you haven't previously opted-in, you must make an election to opt-in within 120 days from the day you leave your employer to continue to receive insurance cover.

Premiums for any insurance cover will be deducted quarterly in arrears from your super account. If you wish to cancel or reduce any cover, you must do so within 60 days from the date of the letter you received from the fund about your transfer to Personal Plus to avoid incurring any premiums. To do this, complete a Cancel or Reduce Insurance form or log into your online account.

The below factsheet outlines changes to your super when you transfer into Personal Plus. 

Overview of insurance for transferring members