If you have super in another fund, you may be eligible to transfer insurance cover associated with that account into Accumulate Plus if you're also transferring your account balance from that fund. This may make it easier for you to consider consolidating your super accounts.
A few things to know about transferring insurance cover
- The cover you apply to transfer must be from another Australian super fund or an eligible stand-alone (non-super) policy with CMLA, where you've held that cover for at least 12 months.
- If transferring from another super fund, you must be transferring the entire balance from your other account and closing that account. Your application to transfer cover must be made at the same time as your request to transfer your account balance. It’s important that you do not cancel your cover or close your account in the other fund until you receive confirmation from us that your request to transfer has been accepted.
- You can only apply to transfer cover that is the same type as offered in Accumulate Plus.
- You can apply to transfer either the full amount or a lesser amount of cover from your other fund or policy, but not a higher amount.
- Any transferred cover is subject to the rules and premium that apply in Accumulate Plus, which may differ from your previous cover.
Want to transfer cover to Accumulate Plus?
There are several areas you need to consider before transferring cover. This information on this page is just a summary – you should read the terms and conditions of transferring cover in the applicable Reference Guide: Insurance Cover. Make sure you also think about all of your current insurance cover arrangements and personal circumtances before considering transferring cover.
It is important that you do not cancel your existing cover in your other fund or policy or close that account until you have received confirmation in writing from us that your transfer of cover request has been accepted.