Hostplus members can enjoy insurance cover without the cost for up to 12 months of parental leave.
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. Hostplus members can apply for premium-free cover during parental leave.1 This means you can continue to receive the high standard of Death, Total and Permanent Disability (TPD) and Income Protection 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 you protect your growing family while minimising the cost to your super, so you can focus on your new arrival.
You can take advantage of premium-free insurance for your parental leave if you:
1. Grandfathered Intrust Super PayGuard and Club Super SalarySafe insurance arrangements are not eligible for the Parental Leave Premium Waiver.
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're already on parental leave, then the premiums will only be waived from the date Hostplus receives your completed form. The waiver cannot be backdated.
If you don't receive any funds (e.g contributions or rollovers) 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. Written instructions can be provided in your Member Online account.
If you have any questions or would like more information about your insurance in super then call us on 1300 467 875 Monday to Friday, 8am - 8pm AEST/AEDT or contact us online.