On the 1st July just passed, legislation came into effect that required super funds to cancel the insurance for accounts that were deemed “inactive”.
If you were impacted, your super fund would have sent you a note in the time leading up to the 30th June 2019.
Some people have only just noticed that their insurance cover has been cancelled. If you are one of those people, and you wanted to retain that insurance cover – then there may still be an opportunity to do so.
Some insurance and super companies are allowing their fund members to have the cancelled insurance cover “reinstated” if the member asks within a limited time-frame after the 1st July.
If you are one of those people, please contact your super fund immediately to see if you have the chance for the cover to reinstated. If Advice4me is noted as your Adviser for that insurance or super then call and we will help you.