You may be able to transfer across existing death cover, total and permanent disability (TPD) cover and income protection cover from another insurer or super fund.
If you transfer in units of death cover or TPD cover it will be converted to units of cover and rounded up to the nearest equivalent number of units. If you apply to transfer in a fixed amount of death cover or TPD cover, we will convert all your cover to fixed cover.
Any income protection cover you request to transfer in will be converted to units of cover and rounded up to the nearest equivalent number of units.
All your cover will be charged premiums at your occupational rating.
The waiting period of the transferred cover will be matched to an equivalent or nearest longest waiting period offered by us (e.g. a 45 day waiting period will become a 60 day waiting period). The minimum waiting period will be accrued sick leave or 30 days whichever is greater.
The benefit period will be matched to an equivalent or nearest lower benefit period offered by us (except in the case of a two year benefit period, which will be converted to three years).
Any salary based income protection cover that you already hold with QSuper will also be converted to units and rounded up to the nearest $500. The waiting period will be changed to match the waiting period that we apply to your transferred in income protection cover. The benefit period will also change to match the transferred income protection cover.
Where your existing income protection cover does not have the same benefit period or cover expiry age as the cover being transferred in, our insurer may offer transfer in cover on terms at its discretion.
If you are a Queensland police officer, the benefit period and waiting period will be the same as that which applies to your current insurance with QSuper.
You must also provide us with written proof that your previous cover will be cancelled upon the transfer of insurance being accepted by us. If your previous cover is not cancelled, then your cover with us will be cancelled from inception.
Any cover you transfer in will be subject to the eligibility conditions, exclusions and definitions contained in the QSuper Accumulation Account Insurance Guide.
Please note this information is a general summary only. Please refer to our Accumulation Account Insurance Guide for further information on terms, conditions and eligibility.