There are a number of important events – what we call ‘Key Life Events’ – that may cause you to want to change your cover. If you submit an application form within 90 days of any of the following Key Life Events happening to you, you’ll find the process to change your cover simple and easy.
The standard waiting period for income protection cover is 60 days. You can change this waiting period to 30 days if this suits you better.
Outside making changes to your income protection cover because of an important event (key life event) you can also increase your income protection insurance cover, if your salary increases and usually without having to provide medical evidence, within two months of the salary rise.
The easiest way to change or cancel your insurance cover is to log into Vision Online. Once logged in, select Insurance from the main menu and click on the “Manage my insurance” button. In the insurance management section, at the bottom of the page, select an appropriate heading.
If you wish to cancel or reduce your cover it’s not difficult, but before you do there are a few things to be aware of:
To cancel all or part of your insurance cover you can:
Please know that you do also have the option to cancel or reduce your TPD cover but retain your Death only cover.
Any cancellation or reduction of cover will take effect from the date we receive your request or the date you specified in your request, as long as it’s after the date we receive it.
If you’re unsure about cancelling, we encourage you to seek some independent financial advice.
You might find the answer to your question in the FAQ below. If you don’t find it there, you can call our Member Services hotline on 1300 300 820.
Also before you make any changes to your cover please consider seeking financial advice. If you would like to speak with a Vision Super financial planner you can call 1300 300 820 to make an appointment.