Your insurance cover will automatically be transferred to your new account. However there are some key things to think about.
Keep your Income protection
If you had Income Protection cover, this will transfer automatically to your Personal Plus account. To retain this cover, within 120 days of leaving your Telstra Group employer you must:
- Complete and return the Continuing Income Protection form.
- Arrange for your new employer (if applicable) to pay the Superannuation Guarantee (SG) contribution into your TelstraSuper account. You can do that by filling in our online choice form which will send your employer everything they need to get started.
Death & TPD insurance cover
If you had Death & Total and Permanent Disablement (TPD) insurance, this will be transferred across and split between base and top-up cover to the same value that you had before.
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 30 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.
The following fact sheet outlines changes to your super when you transfer into Personal Plus.
Need help with your Personal Plus account?
At TelstraSuper we’re here to help you build a secure financial future. TelstraSuper Financial Planning has a team of phone based Advisers who can provide you with simple advice to help you get the most from your Personal Plus account. If you’d like to discuss your super or if you have any other financial advice queries contact us on 1300 033 166 or fill in our online contact form. There's no additional cost for our phone based advice as this is included in your TelstraSuper membership.Online contact form