If you’ve already got insurance cover with another super fund or insurance provider, you may be able to transfer it to Hostplus.
Whether you’ve got one insurance policy or multiple policies, transferring your existing Death and Total & Permanent Disability (TPD) or Income Protection insurance cover to Hostplus can help you streamline your insurance and cut back on life admin – and that’s a positive for almost everyone.
Holding multiple insurance arrangements may mean that you have too much insurance, or are paying for insurance you can’t claim on. This may impact your ability to save money for retirement. You should review your insurance needs to determine what level of insurance cover is appropriate for you.
If you do have insurance cover elsewhere, you may be able to transfer that cover to Hostplus. You can then enjoy the ease of managing your super and insurance all in one spot.
Hostplus insurance is designed for a specific target market, so it’s important to consider whether it’s right for you. If you transfer your insurance cover to Hostplus, you’ll need to have sufficient funds in your Hostplus account to cover any outstanding insurance premiums.
Any loadings, restrictions and exclusions that are on your existing policy will apply to your transferred cover. You should also check for any differences in policy terms or conditions before you transfer.
You can transfer cover provided that:
Any loadings, restrictions, and exclusions which apply on your transferred cover will also apply to your cover transferred to Hostplus.
We recommend that you do not cancel any existing cover or close your other super fund account until your application to transfer cover is accepted.
Eligible members can transfer up to $1.5 million of existing Death Only or Death and TPD cover to Hostplus.
The total amount of cover you can transfer (from all sources or policies) is the lesser of:
To transfer your insurance cover to Hostplus, simply take the following steps:
We will generally respond to applications to transfer cover within 24 hours.