Insurance if you choose another fund
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It is important that employee members consider the implications of choosing another fund on your insurance cover, which is an important benefit under your IPE Super membership. If you choose another fund:

  • Your insurance cover for death and disablement (including voluntary insurance) through the Fund will continue, providing you retain a balance in the Fund sufficient to cover insurance fees. If your account is insufficient or if you transfer the whole of your account from the Fund, all insurance cover will cease immediately. If your cover ceases, you will need to make insurance arrangements through your new fund or take out your own personal cover.
  • You should keep in mind that there may be a period when you are not insured from the date your insurance cover in the Fund ceases to the date your membership with your new fund commences and your new insurance cover begins, (if any).
  • You should check the insurance arrangements of any fund you are considering, as the definitions of 'permanent disablement' and 'temporary disablement' under your new fund's insurance policy may be different to those that currently apply to your cover through the Fund. You may also need to provide health evidence. If you do provide health evidence and, as a result, your new insurer either rejects or restricts your cover, you should bear in mind that you may be legally obliged to disclose this fact on all future applications for personal insurance cover.

IPE Super's Insurance Guide for new employees, Retained and Spouse members