Change my insurance

You can update your insurance at any time to:

  • reduce your Voluntary Insurance Cover.
  • update your smoking status (for Voluntary Insurance Cover only).
  • update your salary (for Income Protection only). Over the course of your working life, your salary is likely to change. If we don't know your current salary, we'll use a salary of $80,000 pa, excluding super. It's important to tell us your actual salary because if it’s less than $80,000 pa, you may be paying more for your insurance than you need to. If your salary is more than this, you may not have enough cover for your needs.
  • change your job classification. Make sure you tell us your current job classification. When you join Mine Super, you’ll automatically be given a 'mining' job classification. If you’ve not updated this or you’ve changed jobs, you could be paying more for your insurance than you need to. 
    Tip: You can see your current job classification through your online account or on your latest Annual Statement.
  • change the waiting or benefit payment period on your Income Protection insurance (form only).

If within 60 days of the date of your insurance welcome letter, you:

  • increase your salary; and / or
  • change your waiting period to 30 days; and / or
  • change your benefit payment period to five years;

you'll be covered for any existing illnesses you have at the time you make these changes and won't be charged more if you smoke.

 

Other insurance changes

Double your Basic Insurance Cover

Apply to double your Basic Death and Terminal Illness and Total and Permanent Disablement insurance within 60 days of the date on your insurance welcome letter.

To apply, simply complete the relevant Double your Basic Insurance Cover form below. Be mindful that if you increase your insurance, your insurance premiums will also increase.

Increase your insurance by up to $100,000 after a significant life event

You can apply to increase your Death and Terminal Illness (DTI) and Total and Permanent Disablement (TPD) insurance by up to $100,000 within 180 days of a significant life event. This extra insurance will be added to your account as voluntary DTI and TPD insurance. Be mindful that if you increase your insurance, your insurance premiums will also increase.

You can apply to do this up to three times over the course of your cover, but only once within a 12 month period, if you:
  • get a mortgage
  • have a baby
  • get married
  • have a dependent child starting high school
  • complete an undergraduate degree
  • become a carer
  • get divorced
  • have your spouse pass away.
You can apply for an insurance increase following a significant life event through your online account or by submitting a form. Log in to your online account, select the Manage my insurance menu item. You’ll be taken to our insurer's (TAL Life Limited) site where you can submit your application.

Transfer other insurance you have to Mine Super

Have insurance with another super fund or life insurer? You can apply to transfer your existing Death, Terminal Illness or Total and Permanent Disablement and Income Protection (IP) insurance you have without a full medical and lifestyle check. Conditions apply.

You can apply to transfer insurance cover held outside of Mine Super through your online account. Simply log in to your account using our email or member number and password, and select the Manage my insurance menu item. Alternatively, you can complete and submit a form.  

Please note: if you’re between 60 and 65 years of age and would like to transfer IP from another super fund to your Mine Super account you’ll need to submit a form or call us on 13 64 63. 

There are risks you should consider when transferring your existing cover, such as the loss of any accrued benefits, the possibility of waiting periods having to start again and the implications if you don't disclose all relevant information on an application (even if unintentional).

Convert Basic Insurance Cover to Voluntary Insurance Cover

You can convert all your Basic Insurance Cover or a lesser amount at any time throughout your cover. You may want to do this when you get older and your cover is starting to decrease, and you’d like to maintain the level of cover you currently have. 

Use this form to convert your Basic Death and Terminal Illness and Total and Permanent Disablement insurance insurance to Voluntary Insurance Cover.

Cancel your insurance

You can cancel your insurance at any time. Here’s some important things to remember if you are thinking about cancelling your insurance:

  • If you cancel your Basic Insurance Cover, including Death and Terminal Illness (DTI), Total and Permanent Disablement (TPD) and standard Income Protection (IP), you’ll no longer be charged for this insurance and won’t be able to make a claim for events or conditions that happen after your insurance was cancelled.
  • If we receive your cancellation form within 90 days of the date your insurance started, we'll refund any premiums we've already deducted back to your account.
  • If you cancel your Basic Insurance Cover including DTI, TPD and standard IP you won’t be eligible for this cover in the future.
  • If you cancel your insurance and decide later to have it in the future, you can reapply at any time, though your application may be assessed by our insurer and they might include conditions on your cover or decline your application.
  • If you’ve applied for new cover, you shouldn't cancel any existing cover until your application for new cover is accepted by the new insurer.
  • Before cancelling your cover, it might be worthwhile seeking financial advice. The team at Mine Super Financial Advice is here to help you make confident and informed financial decisions. You can request an appointment to talk to adviser here.

You can cancel your insurance via your online account. Alternatively, you can call us on 13 64 63 or download the form below.


Things to consider

You can opt-in to add insurance cover before you’re eligible for Basic Insurance Cover or to keep your current insurance cover. This will allow you to keep your cover if your account becomes, or is already, inactive (that is, a contribution hasn’t been credited to your account for 16 months or more). 

There might be times in the future when your insurance is cancelled or changed in line with the normal terms and conditions of our insurance, for example you reach the maximum age to have our insurance. If there are any material changes to your insurance, we’ll let you know in writing at least 30 days before the changes take effect. You can find out more by reading the Product Disclosure Statement and Insurance Guide. Importantly one of the best ways to keep your insurance is to make regular contributions to your account. The best way to do this is to have your employer contribute the compulsory super they pay for you to your Mine Super account.

*If you’ve chosen to opt-in for insurance, you won’t be eligible for a refund of premiums if you cancel your cover as you’ve elected to have this insurance on your account.