If you transfer other super accounts into your Accumulate Plus account, you may also be eligible to transfer any insurance cover you have in the other accounts as well. This may make it easier for you to consider consolidating your super funds.
A few things to know about transferring insurance cover:
- You must be transferring the entire balance from your other account and closing that account.
- Any application to transfer cover must be made at the same time as you 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 either the full amount or a lesser amount of cover from your other fund, 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.
Looking to transfer your insurance cover to your Accumulate Plus account?
There are several areas you need to consider before transferring cover. Make sure you know your full current insurance cover situation before taking the leap to transfer.
This information is just a summary. You should read the terms and conditions of transferring cover, which you can find in the Reference Guide: Insurance Cover.
It is important that you do not cancel your existing cover in your other fund or close that account until you have received confirmation in writing from us that your transfer of cover request has been accepted.