skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus

Insurance in Super


Insurance in Superannuation Voluntary Code of Practice (the Code)

Insurance through Super can be a cost-effective way to help provide a secure financial future in the event of death, disability or temporary setback due to an illness or injury.

We are committed to looking for ways to improve our insurance arrangements for our members. It’s one of the key reasons why we were one of the first Retail Super fund in Australia to commit to adopting the Insurance in Superannuation Voluntary Code of Practice (the Code).

The Code sets out the superannuation industry’s commitment and obligations to achieving the highest standards of value and service when providing insurance to our members.

It also sets out timeframes for us to respond to claims or requests. You can read more about the Insurance in Superannuation Voluntary Code of Practice here.

Transition Plan

We have developed a Transition plan to summarise when we will adopt the Code. Read more about our Transition Plan here.

The below timeframes are subject to best efforts and a revised Transition Plan may be published at any time. 

Transition plan timeline

 

Claims

OnePath Custodians Pty Limited, as Trustee of the Retirement Portfolio Service, we will oversee and help members or beneficiaries with the claims process.

Please refer to our Claims Philosophy document to understand how we approach the claims process on behalf of a fund member or beneficiary.

Annual Code Compliance Report

Our compliance with the Code will be monitored regularly and results will be set out in our Annual Code Compliance Report – published annually around 30 June. View our current Annual Code Compliance Report.

Helping members to make informed decisions

We are striving to help members make informed decisions about their insurance cover. That’s why we have bought forward publication of a Key Facts Sheet for each of our automatic insurance products.

The Key Facts Sheet is an industry-wide, standardised format developed to provide high-level insurance information to help members understand the cover we offer and compare products. 

The Key Facts Sheets can be found here:

Talk to us about superannuation

13 12 87

Mon-Fri 8am to 7pm (AEST) 

ANZ Smart Choice Super is a suite of products consisting of ANZ Smart Choice Super and Pension, ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees (together ‘ANZ Smart Choice Super’). ANZ Smart Choice Super and Pension is a retail product issued pursuant to a Product Disclosure Statement (PDS). ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees are both MySuper compliant employer products issued pursuant to a separate PDS for employer plans and PDS for QBE.

ANZ Smart Choice Super is issued by OnePath Custodians Pty Limited (OnePath Custodians) (ABN 12 008 508 496, AFSL 238346, RSE L0000673), and the ANZ Smart Choice Super and Pension product is distributed by Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522). ANZ is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). OnePath Custodians is the issuer of ANZ Smart Choice Super but is not a Bank. Except as set out in the relevant Product Disclosure Statement (PDS), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuer or the capital or performance of any investment. Such investment is subject to investment risk, including possible repayment delays and loss of income and principal invested. Returns can go up and down. Past performance is not indicative of future performance.

ANZ Smart Choice Super and Pension received a Gold rating in SuperRatings’ 2019 product rating in both the Super and Pension categories. ANZ Smart Choice Super for employers and their employees received a Gold rating in SuperRatings’ 2019 MySuper product rating. SuperRatings does not issue, sell, guarantee or underwrite these products. Go to www.superratings.com.au for details of its ratings criteria.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. Before acting on this information you should consider whether the information is appropriate for you having regard to your objectives, financial circumstances or objectives. ANZ recommends that you read the ANZ Financial Services Guide, the relevant Product Disclosure Statement, product and other updates which are available by calling Customer Services on 13 12 87, or visiting our website here or here (for employer members), and consider whether the product is right for you before making a decision to acquire or to continue to hold the product. 

Taxation law is complex and this information has been prepared as a guide only and does not represent taxation advice. Please see your tax adviser for independent taxation advice. The information on insurance cover is a summary only of the terms and conditions applying to the insurance cover. To the extent there is any inconsistency with the terms of the insurance cover provided by the insurer, the terms of the insurance policy will prevail. 

Before re-directing your super or moving your money into ANZ Smart Choice Super, you will need to consider whether there are any adverse consequences for you, including exit fees, other loss of benefits (e.g. insurance cover), investment options and performance, functionality, increase in investment risks and where your future employer contributions will be paid.

ANZ does not represent or guarantee that access to ANZ Internet Banking or the ANZ App will be uninterrupted. Temporary service disruptions may occur. ANZ recommends that you read the ANZ App Terms and Conditions available at anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App. The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them.

In addition to their salary, ANZ staff members may receive monetary or non-monetary benefits depending on the product they are selling or providing advice on. You may request further information from ANZ. Other key features including insurance, available investment options and performance, exit fees and functionality are relevant when choosing a super fund. 

This information may be subject to change. Updated information will be available free of charge by calling Customer Services on 13 12 87.