Insurance is designed to give you peace of mind when life is going smoothly, and most importantly, it provides a level of financial support when life gets bumpy.
Insurance through your super is a great way of avoiding the extra fees and administration headaches that come with managing separate policies, and your premiums are paid direct from your super account.
We have three types of insurance cover available, and we keep the policies flexible. That way you can choose the amount of cover to suit you, change or cancel it to suit your needs and circumstances.
We all know life changes and so should your cover. With us, you can increase, reduce, or cancel your insurance cover with ease.
When you transfer a super fund to another account, you need to make sure you transfer any insurance first.
We know nothing stays the same, so to make sure your cover suits your lifestyle we made it as simple as possible to make changes or cancel it.
Our commitment to you, to provide greater transparency and consistency across the superannuation industry.
We are always striving to provide insurance designs that are equitable for all our members. We work within eight fundamental insurance beliefs.
Find out how the Federal Government’s Protecting Your Super Package affects you.
Best Doctors gives Vision Super members and their immediate family free access to expert medical advice and guidance from the comfort of their own home.
There are some good benefits in taking out insurance cover through your super fund:
Getting insurance cover is easy when you join Vision Super.
If you join Vision Super with a Super Saver account, you’ll get an entitlement to insurance cover, which starts once you meet eligibility criteria or opt in to cover. This cover will start without individual underwriting and without you needing to provide us with any health information. You’re always free to apply to change the cover to suit your needs. This is subject to the eligibility criteria, so do read the small print.
If you are a Vision Personal member you can apply to the insurer to be underwritten for insurance cover, or transfer cover from another super fund into Vision Super.
It depends how your details have been changed. The most common request is changing a surname due to marriage, which you can do with a certified copy of your marriage certificate, and a Vision Super “Change of Personal Details form” found here: view form
If you have changed your name another way, we recommend you contact us first on 1300 300 820 so we can outline what documents we need to change your details without issue.
If you want to change your address, you can do this by logging onto the secure member portal online, or calling our Member Services team on 1300 300 820.
Here’s how it works. You may be able to receive a tax-free contribution from the Government when you make a non-concessional (after-tax) contribution to your super account. The maximum entitlement that can be received is $500 where your total income is $39,837 or less in the 2020/21 year. This reduces on a sliding scale and cuts out if your total income is above $54,837 in the 2020/21 year.
This is, of course, provided you satisfy work, income and age tests.
Please note that the income threshold test for the co-contribution is your total income, which is calculated as follows:
Total income (assessable income + reportable fringe benefits + reportable employer super contributions – allowable business deductions).
In very basic terms, ‘salary sacrificing’, or ‘salary packaging’ means using some of your before-tax salary to pay for something. In superannuation terms, it is usually an arrangement between you and your employer to contribute some of your before-tax salary into your superannuation account.
In the 2020/2021 financial year, the maximum that can be contributed as before-tax payments is $25,000, this includes your employer SG payments of 9.5%.
If you’re contributing by BPAY, it can take Vision Super up to two business days to receive your contribution, then up to three business days to process, although most are done the same day they are received. This will depend upon your financial institution’s processing times.
If you’re contributing by cheque, you will need to allow enough time for your chosen postage method to reach us. Once it has arrived, it can take up to five working days to process.
We can also process contributions by EFT, however, this may take up to three business days.
Best Doctors can help you if you are dealing with an illness, or a chronic or serious condition.
Through your insurance, you and your family get access to Best Doctors which connects you with a network of 50,000 leading medical specialists from around the world. It offers a second opinion when you need it most, to make sure you received the right diagnosis and are on the best treatment plan. You can use Best Doctors at anytime, anywhere, as often as you need for no extra cost, and it’s completely confidential.
The great news is you can now open your pension account online through the secure site.
You’ll just need to open a Vision Personal account first and then you can transfer across to a Vision Super pension.