You web browser may not be properly supported. To use this site and all its features we recommend using the latest versions of Chrome, Safari or Firefox


New superannuation changes came into effect this year, so it’s important that you now check your superannuation accounts to ensure you have adequate insurance cover.

It is now compulsory for superannuation funds to provide insurance cover for those who are unable to work again as part of the new MySuper scheme.

MySuper is the new super account that most funds will offer as the default option.

In my experience, I've found that most people do not have adequate insurance to cover them in the event they can no longer work.

Insurance is the forgotten part of superannuation. A lot of people do not know they are able to access insurance through their super funds if they have to permanently give up work for some reason. For that reason many people are not adequately covered.

Research commission by Slater & Gordon in 2012 found only 47 per cent of Australia had heard of the types of insurance provided through superannuation funds.

Under the MySuper scheme, employees will be offered minimum levels of insurance cover on an opt-out basis.

Now is a very good time to review the insurance offered through your super fund and to ask yourself whether you have enough insurance to cover your debts if you are unable to work again. If you are unsure of what cover you have, make sure you contact your super fund.

Having the right amount of insurance provides peace of mind and, in the event you need to use it, can protect you and your family from financial hardship.


Laws in some States prohibit us from publishing information concerning some of the legal services and assistance we can provide. We are able to provide further information when specifically requested.

The contents of this blog post are considered accurate as at the date of publication. However the applicable laws may be subject to change, thereby affecting the accuracy of the article. The information contained in this blog post is of a general nature only and is not specific to anyone’s personal circumstances. Please seek legal advice before acting on any of the information contained in this post.

Thank you for your feedback.

Related blog posts

Superannuation and Insurance
Using super to buy a first home

Australia is currently seeing a boom in our property market. The combination of record low interest rates and increased demand has seen house prices dramatically increase in recent months. This has led to a push by some to let Australians dip into their superannuation savings to help them enter the property market sooner (this is different to the current First Home Super Saver Scheme, which allows first home buyers to save money for a first home inside their super fund). At first, the idea seems like a good one. It gives first home buyers the option to use their hard-earned savings to get onto the real estate market earlier than if they had to save for a deposit from scratch. It allows...

House auction sold sign
Superannuation and Insurance
Super stapling - Don’t be left without TPD insurance in your time of need

New super accounts will no longer be created every time a worker changes jobs meaning they will have one single default account that follows them, from 1 July 2021. The “stapling” reform was announced by the Federal Government in 2020, to avoid workers ending up with multiple super funds, paying multiple insurance premiums and account fees, causing their superannuation balance to shrink unnecessarily before retirement. While keeping your balance as high as possible is a positive, the move may come at a cost to some people finding themselves without insurance if they fall ill or become injured after moving to work in a more dangerous industry where their insurance policy does not...

Young mine worker contemplating his superannuation
Superannuation and Insurance
Understanding changes to your superannuation

There have been a lot of changes to our superannuation lately, some of it stirred on by the COVID-19 pandemic, others have been in the works for a while now. With all these changes it is understandable that there’s a lot of confusion out there about what is happening with our hard earned super. This article aims to answer some of your questions. On 1 April 2020 the Putting Members’ Interest First legislation came into effect. The legislation is designed to stop you from paying fees and insurance premiums if you have a low balance or if you are under 25 years old. Most superannuation funds are required to provide their members with insurance cover to ensure they’re covered in the...

Superannuation

We're here to help. Make an enquiry now.

If you have a question, want some more information or would just like to speak to someone, make an enquiry now and our Superannuation and Insurance team will be in touch with you as soon as possible.

Call us on 1800 444 141