Our transition plan for the Insurance in Super Voluntary Code (the Code)
UniSuper strongly advocates for the adoption of the Insurance in Superannuation Voluntary Code of Practice.
The Code aims to improve insurance products and processes in super, by helping members better understand their insurance, change insurance arrangements, receive affordable cover, and make timely claims, among other measures.
As part of our commitment to the high standards this code aims to uphold, our transition plan outlining when we will fully comply with the code is published below. As our plans evolve, we’ll update this page with further information and more detail.
| Groups of standards |
Targeted compliance date |
| Automatic cessation of cover and reinstatement (sections 4.25(e) and (f), 4.27,4.28 and 4.29) |
30 June 2019 |
| Benefit design and premiums (sections 4.1 to 4.17)
|
31 March 2021
|
| The rest of the Code |
31 March 2021 |
We already comply with many aspects of the new code, and in a number of cases our operational standards exceed those being proposed. Read the Code in full (PDF, 300KB).
We’re recognised as an industry leader of insurance in super—in 2017 we were awarded Conexus Best Insurance Offering—and we support the Code’s aim to lift standards across the industry.