WA Super News
Do you have enough insurance to protect what matters most?
In our last newsletter, we discussed the types of cover you could automatically receive as a member of WA Super. While this provides an important safety net, it does not take into account your individual needs.
As a result, it may not be enough to cover your expenses should you get sick or injured, or your family’s expenses should you pass away.
Fine-tuning your coverage
To protect you and your family, it is worthwhile taking some time to think about what may be needed to sustain your household and your family’s lifestyle.
The insurance needs and premium calculator on our website can help estimate your requirements and costs. And should you decide to increase or decrease your cover, we offer a number of ways for you to do so:
Whether it’s an increase to your salary, marriage, the birth of your children, a new house or divorce, there are many events that will change your financial position and needs.
For most of these changes – known as "Allowable events" – you can apply for additional insurance cover without having to provide medical evidence, although you will need to complete an automatic insurance increase form within 90 days of the event and provide supporting evidence. It is only possible to apply for this kind of increase once a year. To apply for an Automatic Increase complete the form available on our website here and send to WA Super between 1 June and 31 July.
Did you know that if you already have insurance coverage through another fund or policy you can apply to transfer it so that premiums are withdrawn from your WA Super balance. You just need to complete a transfer form and provide a benefits statement from your previous fund or policy owner that is less than 6 months old.
Special offer to upgrade your insurance
From 1 June until 31 July each year you can request up to an additional $60,000 of death cover or death and total permanent disablement cover, without the need for an underwriting assessment by our Insurer. We’ll have more on this special offer in the Winter edition of SuperNews.
Voluntary increases through underwriting
It is also possible for you to increase your cover through a voluntary application or variation form at any time of year – this will ask you to provide some medical information.
For more information, please see our website and the Insurance Guide. Alternatively, you can call us on (08) 9480 3500 or 1300 99 85 42 (Country Callers), or email us at firstname.lastname@example.org.