INSURANCE CHECKLIST

Call your fund to find out what cover you have. Ask it to explain it in plain English. Also read the fine print.

Ask your fund if it is appropriate for your circumstances (funds can give you free intra-fund advice on super). Does it cover you, your spouse and children adequately?

If you are in more than one fund, see if you have more than one salary continuance policy, keep the most suitable and discard the other because you can’t claim twice.

For death cover and TPD you can have more than one policy and a claim can be made on each. However, make sure you are getting the right cover at the best price – it may make sense to consolidate into one new policy.

If you are young with no dependants, do you need insurance? You can tell your super fund you want to opt out.

If you make a claim, call your fund, not a lawyer.

For complaints, contact the Superannuation Complaints Tribunal (sct.gov.au).