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Notice of the duty of disclosure from our life insurer to you.

Duty of disclosure

Hostplus has taken out a contract of insurance with MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096 (‘MetLife’ or the ‘Insurer’) to provide the insurance benefits in the Fund. On becoming a member, you are bound by the terms and conditions of this contract of insurance.

Before a superannuation trustee such as Hostplus enters into an insurance contract on your behalf, you have a duty to disclose to the Insurer anything that you know or could reasonably be expected to know about your health that could affect the Insurer’s decision to provide you with insurance and the terms of that insurance. Hostplus, in entering into a contract of insurance on your behalf, does not need to tell the Insurer anything that:

  • is common knowledge; or
  • the Insurer knows or should know as an insurer; or
  • the Insurer waives your duty to tell the Insurer about.

Non-Disclosure

In exercising the following rights, the insurer may consider whether different types of cover can constitute separate contracts of insurance. If they do, the insurer may apply the following rights separately to each type of cover. For example, Death, TPD and Income Protection benefits may be treated as separate contracts. Additionally, default cover and any additional cover may also be treated separately.

If you, the person to be insured, do not tell the Insurer something that you know or could reasonably be expected to know about your health and which could affect the insurer’s decision to provide you with insurance and the type and/or level of cover provided, then the insurer may treat such an omission as a failure to disclose relevant information; and may avoid the contract within 3 years of entering into it. If the Insurer chooses not to avoid the contract, the Insurer may, at any time reduce the amount of insurance provided. This would be worked out using a formula that will take into account the premium that would have been payable if the Insurer had told everything it should have been told by you. However, if the contract has a surrender value, or provides cover on death, the Insurer may only exercise this right within 3 years of entering into the contract.

If the Insurer chooses not to avoid the contract or reduce the amount of insurance provided, the Insurer may, at any time vary the contract in a way that places the Insurer in the same position the Insurer would have been in if we had told the Insurer everything it should have been told. However, this right does not apply if the contract has a surrender value or provides cover on death.

If the failure to tell the Insurer something is fraudulent, the Insurer may refuse to pay a claim and treat the contract as if it never existed.

 

Insurer Privacy Statement

Your privacy with MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096 (`MetLife' or the `Insurer') The personal information you provide in the form is necessary for MetLife to provide you with the products and services you have requested from MetLife. You do not have to provide MetLife with your personal information, but if you do not do so MetLife may not be able to provide you with the products or services. MetLife complies with the Privacy Act 1988 and the principles laid out in its Privacy Policy which details information about the entities that MetLife usually discloses personal information to (including overseas recipients), how you may access or seek correction of your personal information, how we manage that information and our complaints process. MetLife's Privacy Policy is readily available and can be viewed at metlife.com.au/privacy.

Your privacy as a member of Hostplus

At times we may need to collect sensitive information from you such as medical information and family relationship details to process insurance applications and benefit claims.  This information is used by Hostplus and our insurers to assess your eligibility for an insured benefit.  We will always seek your express consent before we collect any sensitive information from you, and we will ensure that the collection of this information is absolutely necessary.