Significant Event Notice – November 2019

29th November 2019

Cancellation of Insurance for Accounts under $6,000

The Government has recently passed new legislation to ensure that members with low account balances are not paying premiums for insurance cover that may erode their retirement savings. In accordance with this new legislation, we will be required to automatically cancel your insurance cover on 1 April 2020, if your account balance is less than $6,000 on or after 1 November 2019. 

However, if you tell us that you would like to keep your insurance cover prior 1 April 2020, we will not cancel your cover, even if your account balance were to be less than $6,000 on this date.

What we will do:

If your 1 November 2019 account balance is less than $6,000, we advise you that 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, 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, your insurance cover will not be cancelled.

About you:

Insurance cover
Our records show, as at 1 November 2019 that you have existing insurance cover. You may have the following types of insurance cover in your account:

  • Death cover
  • Total and Permanent Disablement (TPD)
  • Income Protection (IP)

To check your cover and level of insurance, please login to MemberAccess or contact our Member Care Team on 1300 360 907.

What if:

I want to keep my insurance cover
If you wish to maintain your insurance cover in this account, you need to:

or
  •  Login to MemberAccess and select to retain your insurance cover via the ‘Update personal details’ section before 1 April 2020;
or
  •  Ensure that your account balance reaches $6,000 before 1 April 2020.
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 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@christiansuper.com.au.

Need help?

Our Member Care Team is here to help you.

Phone: 1300 360 907, 9:00am – 6:00pm (AEDT) Monday to Friday

Emailmembers@christiansuper.com.au

If you are unsure about whether or not you should continue to have insurance cover, we encourage you to use our Christian Super Equip advice tool available through your online account or 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

Thank you for your continued support of Christian Super. We will continue to walk with you to help you reach and live out a purposeful retirement.

Kind Regards,

Nathan Buttigieg
Chief Member Officer
Christian Super