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What is an Insurance election?

Insurance cover in inactive accounts

Since 1 July 2019 the law requires super funds to cancel insurance cover in super accounts that haven’t received a contribution or rollover for 16 continuous months or more, unless a member tells us they want to keep their cover.

So, if you’re currently paying insurance premiums from your super account and you haven’t had any contributions or rollovers to your account in over six months, you may have received a letter from us asking if you would like to keep your insurance cover.

Deciding what's right for you

The law doesn’t take into account your individual circumstances. For example, you may have one super account designed to maintain your insurance and another account to receive your contributions.

So it’s important to review your current insurance cover and make a decision about what you want to do.

If you want to keep your insurance cover, you need to let us know by making an insurance election.

What are your options?

You can elect to keep your insurance cover, even if no money has been added to your account for 16 continuous months, by one of the following:

  • Fill out the form sent with your letter and return it to Colonial First State, Reply Paid 27, Sydney NSW 2001
  • Log on to FirstNet. Then click on 'My account', then Your super account number, then under 'Account Admin' click on 'Insurance'. In the 'Keep my insurance' section, proceed to the ‘Confirm’ button.

Even if you elect to keep your insurance cover now, you can still change or cancel at any time.

Your insurance may be cancelled if you do nothing

Unless you tell us that you want to keep your insurance cover, and if your account remains inactive because no money has been added for 16 continuous months, we’ll cancel your insurance cover before the next premium deduction.

After we cancel your insurance cover you’ll no longer have insurance premiums deducted from your super and will only be able to make an insurance claim for events that occurred before your cover was cancelled.

There are some exceptions

If you’ve applied for insurance cover in writing between 8 May 2018 and 1 April 2019, this cover may not be cancelled. We’ll be in contact if this applies to you.

For more detailed information

You can read more about premium for super accounts by reading our insurance booklet:

Learn more

You can also read our frequently asked questions.



Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from or by calling us on 13 13 36.

Colonial First State is a wholly owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries do not guarantee the performance of FirstChoice or the repayment of capital by FirstChoice.
The insurance provider is The Colonial Mutual Life Assurance Society Limited (CMLA) ABN 12 004 021 809, trading as CommInsure. CMLA is a non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFS Licence 234945 (‘the Bank’). The Bank has agreed to sell CMLA to AIA Group (AIA). This transaction is subject to certain conditions and regulatory approvals and is now expected to be completed in the second half of 2019.