Welcoming a new family member is a wonderful time in our lives but it can also be a time of uncertainty. At Hostplus, we want to ensure you can enjoy the peace of mind that insurance cover brings, without worrying about the cost. From 1 December 2019 Hostplus members can apply for premium-free cover during parental leave. This means you can continue to receive the high standard of Death, Total & Permanent Disability (TPD) and Income Protection (excluding Salary Safe) cover you’ve come to expect from Hostplus for up to 12 months with no premiums deducted from your super.
This is our way of helping your growing family stay safe and keeping your super intact so you can focus on your new arrival.
You can take advantage of premium-free insurance for your parental leave if you:
- Are employed (please note, self-employed members are not eligible)
- Have been a member of Hostplus for at least 12 months at the time of application
- Have had approval from your employer to take parental leave, and
- Have current insurance cover with Hostplus
How do I apply?
If you meet the above requirements, ask your employer to complete the Notification of Parental Leave form and submit it to Hostplus before your leave commences.
If you are already on parental leave then please be aware that the premiums will only be waived from the date Hostplus receives your completed form. The waiver cannot be backdated.
Warning for Inactive accounts while on parental leave.
If you do not receive any funds (e.g contribution or rollover) to your account for 16 consecutive months your account may become 'inactive'. Protecting Your Super (PYS) legislation requires us to remove insurance from accounts deemed to be inactive unless written instructions are provided from the account holder to maintain insurance. You can elect to maintain your insurance cover despite inactivity via our website at hostplus.com.au/pys.
More information.
If you have any questions or would like more information about your insurance in super then please call us on 1300 467 875 Monday to Friday, 8am - 8pm AEST/AEDT, contact us online, or visit hostplus.com.au/insurance.
