Protect Your Super

Action required to keep your Zurich life insurance in place after 1 July

The recently enacted ‘Protecting Your Super’ (PYS) legislation comes into effect from 1 July 2019. The legislation is designed to protect the superannuation balances of members who are deemed to have an ‘inactive’ account.

A super account is deemed to be ‘inactive’ (for insurance purposes) if it has not received a contribution or rollover for a period of 16 consecutive months. If your trustee has given you notice that the insurance cover under your super account will be cancelled because it has been ‘inactive’ for 16 consecutive months you need to take action if you wish to maintain your cover.

We know that many members value their life insurance once it is in place.

It provides valuable insurance cover that will not change due to changes in your health or pastimes. 

However, if your cover is cancelled and you decide to apply for a replacement policy in the future, the new policy will generally be based on your health and other circumstances at that time. A new policy may also not cover conditions existing at that time. This could result in you not being covered, paying a higher premium or having less comprehensive cover.

We strongly urge you to consider whether your insurance cover remains appropriate for you and your personal circumstances, and to speak to your financial adviser if you are unsure.

How do you keep your valuable cover in place?

If you do decide to keep your insurance, you can either make a contribution or rollover to your superannuation fund, or opt-in to keep your insurance with your fund, as per the table below.

If your fund is not listed please contact us on 131 551 or contact your fund for more details.



Opt-in Method 


Macquarie Wrap


Enter your Macquarie Wrap account number and postcode when prompted to confirm you want to maintain your insurance cover.

IOOF (All badges of IOOF)


Online via your account and can use opt-in functionality.

Diversa Trustees (HUB24)


Go to HUB24, log in to their online portal and click declaration.

Diversa Trustees (Praemium)


Go to Praemium, log in to their online portal and click declaration.

Diversa Trustees (MAP)


Go to MAP, log in to their online portal and click declaration.


Protect your life insurance.
July 1 deadline.

❯ Find out more about the government’s
‘Protecting Your Super’ changes