Insurance is designed to give you peace of mind when life is going smoothly and financial support when things get bumpy. Through super, you may be able to avoid extra fees and admin that comes with managing separate policies; and your premiums are paid directly from your superannuation account balance.
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. Vision Personal members can apply to the insurer to be underwritten for insurance cover, or transfer cover from another super fund into Vision Super.
We offer Death, Terminal Illness, Total and Permanent Disability, and Income Protection cover. These benefits can be changed to meet your needs as you need.
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.
Need to claim, find out how.
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.
As a member of the fund, you have access to more than just insurance. Vivo is MLC's wellness and recovery program.
There are some good benefits in taking out insurance cover through your super fund:
We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
This is to make sure we’re keeping members at the centre of our approach to the design and distribution of our financial products.
This legislation requires financial services product issuers to design products that are appropriate for the consumers in the target market and consistent with their objectives, financial situation, and needs.
A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers.
It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.
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 $41,112 or less in the 2021/22 year. This reduces on a sliding scale and cuts out if your total income is above $56,112 in the 2021/22 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 2021/2022 financial year, the maximum that can be contributed as before-tax payments is $27,500, this includes your employer SG payments of 10%.
Please note that any after-tax contributions made, where you obtain a tax deduction, are included in this contribution limit.