Insurance in Superannuation Voluntary Code
Christian Super has previously stated its intention to adopt the Insurance in Superannuation Voluntary Code of Practice (the Voluntary Code) which was scheduled to come into effect on 1 January 2022.
Since the development of the Voluntary Code, many of its requirements have been overtaken by legislative and regulatory reforms. For this reason, the Code Owners* announced their decision to rescind the Voluntary Code on Thursday, 1 July 2021. You can see that announcement here.
Guidance on any issues not covered by legislation (including the improvement of outcomes for vulnerable members, and claims handling) has been developed by the Code Owners. Christian Super will seek to implement this guidance in our interactions with members and maintains our commitment to:
- be transparent, honest, and timely in the way we communicate with our members about their insurances; and
- offer appropriate and affordable cover to our members.
Our Insurance Cover
Christian Super provides most members with a default level of insurance cover, but members can alter their insurances or opt-out at any time. We have intentionally selected an insurance product that is relevant and tailored to the needs of our members and will continue to work with our insurance provider to improve our offering and the experience our members have when considering insurances or making a claim.
Our in-house Member Care Team provides outstanding support for members who need to make insurance claims or would like to change their level of cover. It’s a good idea to consider if your insurances are still appropriate whenever your circumstances change. If you have any insurance related questions, our Member Care Team are always happy to help, click here to get in contact with them.
*Note: The Code Owners are The Association of Superannuation Funds of Australia (ASFA), the Australian Institute of Superannuation Trustees (AIST) and the Financial Services Council (FSC).