Our commitment to you
Vision Super will start to implement the Insurance in superannuation Voluntary Code of Practice from its commencement on 1 July 2018. We believe it will help our members to better understand and make more informed choices about their insurance cover.
What is the Code?
The Code is the superannuation industry’s commitment to high standards when providing cover to their members. It’s a first for our industry and introduces standards that will provide greater transparency and consistency across the superannuation industry.
The Code is jointly owned by the Association of Superannuation Funds of Australia, the Australian Institute of Superannuation Trustees, and the Financial Services Council. These groups will support the implementation and oversight of the Code.
You can read more about what’s included here.
What does the code mean for you?
The good news is, you don’t need to do anything.
Vision Super already meets many of the Code’s standards and we’re developed a transition plan for the remaining items. The plan provides a baseline of what still needs to be done.
To view our progress for adopting the code, please refer to the Annual Compliance Report for the year ending 30 June 2019.
When the Code is fully implemented, you’ll be able to:
- view much more information about your cover in your annual statement
- read more about the claims process in one of our new fact sheets
- reduce or cancel your insurance cover over the phone
- understand the timeframe for managing complaints.
For new members, we’ll also provide clearer information about automatic insurance and the options available.
Please refer to our Insurance in Superannuation - Key Facts Sheet for further information about Vision Super’s automatic insurance cover.