Insurance in Super Voluntary Code of Practice
We are committed to helping you better understand your insurance and the important protection it provides. That’s why we have adopted the Insurance in Superannuation Voluntary Code of Practice (the Code).
What is the Code
The Code is the superannuation industry’s commitment to high standards when providing insurance to members. It provides a framework to ensure the insurance cover we offer is affordable and appropriate to your needs.
Download the Code
What does it mean for you?
The Code aims to recognise and improve the benefits of insurance in superannuation. It does this by promoting industry standards and expectations on issues such as:
• making it easier for members to change or opt out of automatic insurance
• providing better support and processes for members making a claim
• improving our communications about insurance, including the impact of insurance fees on retirement outcomes
MTAA Super already meets many of the Code’s requirements, but we still have some work to do to meet all requirements.
The transition plan below provides an overview of the key aspects of the Code and our planned timetable to comply with those requirements that we do not currently meet.
The Code specifies that all requirements must be in place by 30 June 2021. We intend to be fully compliant with the Code well ahead of that date. We will continue to update the plan to keep you informed of our progress.
Download the Insurance in Superannuation Voluntary Code of Practice Transition Plan
Insurance
Read our Insurance Strategy and Claims Philosophy to learn about our guiding principles for offering affordable cover to our members.
You can also read our Insurance in Superannuation Key Facts for an overview of our automatic insurance cover.
Learn about MTAA Super’s insurance offering and options. Learn more
About the Insurance in Superannuation Voluntary Code of Practice
For details about the Insurance in Superannuation Voluntary Code of Practice visit AIST or ASFA.
Related news: MTAA Super to adopt Insurance in Superannuation Voluntary Code of Practice
MTAA Super is amongst the first of superannuation providers to adopt the new Insurance in Superannuation Voluntary Code of Practice. Learn more
Related information
- Insurance options
- How much cover do I need?
- Income Protection (IP)
- Death and Total Permanent Disability (TPD)
- Change, cancel or apply for insurance cover
- Work scales
- Making a claim