Insurance through super is designed to support you if you're unable to work due to illness or injury, or to provide financial support for your family if something happens to you. Whether you need it depends on your individual circumstances - your age, dependents, debts, savings, and who relies on you financially. Before making a change, here are a few important things to consider.

What would happen if you couldn’t work?

If illness, injury or mental health challenges meant you couldn’t work for an extended period, insurance can provide financial support while you focus on recovery. 

Without insurance, you may need to rely on:

• personal savings
• support from family
• government assistance

Consider: How long could you cover your essential expenses - rent or mortgage, bills, groceries - without income? For many people, these alternatives can be uncertain, particularly if the situation arises unexpectedly.

Consider who depends on you

If others rely on your income - such as a partner, children, or family members - insurance can play an important role in protecting them financially. Even if you think you could manage personally, consider how cancelling your cover could affect those who depend on you. 

Cancelling now doesn't guarantee you can get cover again later

One of the most important things to understand is that cancelling insurance doesn't mean you can simply turn it back on in the future. If you cancel Default cover, you won’t be eligible for Default cover again in the future. And, if you reapply for insurance later, you may need to: 

• Complete health assessments
• Provide medical information
• Accept exclusions or higher costs
• Or, in some cases, be declined cover altogether 

Health can change at any age. Cancelling removes cover you currently have, and there's no guarantee the same protection will be available later - especially if your health has changed.

Your insurance needs may change - but that doesn’t always mean cancelling

As your life changes, the type and amount of insurance you need can change too. That doesn’t always mean cancelling cover altogether.

For some members, adjusting the level of cover can be a way to reduce costs while still maintaining some protection. The goal isn’t to have more insurance than you need - it’s to have cover that reflects your current circumstances.

Before cancelling, check if you're paying the right amount

Your occupation rating affects the cost of your cover - physically demanding or higher-risk jobs generally cost more than office-based roles. If you think you have the wrong occupation rating, you can check and update it through Member Online.

We can help you work through your options

You don't have to make this decision alone. Before cancelling, you can: 

• Review your current cover in Member Online
• Use our insurance calculator to estimate what level of cover might suit your needs
• Check if you have the right occupation rating in Member Online

Our team can help you understand your current cover and the options available. For personal advice on what's right for your situation, you can speak with one of our financial advisers. Please note that fees may apply. Visit our advice page for more information.

Review your insurance before making change

Once you know how much insurance you have, you can try our calculator which will help you see how much insurance may suit your needs.

Estimate your insurance needs