Your insurance cover

Yes, there will be some changes to your insurance cover, terms, and costs. If you currently hold insurance, the cost of your cover may change due to a new benefit design and plan rating factors. Refer to the section ‘Estimating the cost of your cover’ above for examples of how to estimate your new insurance costs.

For members currently in the Mercer SmartSuper Plan – Employer Section, please review the Mercer Business Super Insurance booklet 2 for detailed terms and conditions.

For members currently in the Mercer SmartSuper Plan – Individual Section, please review the Mercer Business Super Insurance booklet 4 for detailed terms and conditions.

We recommend that you:

• Read the notice we sent you about the changes.
• Consider whether the type and amount of insurance cover you hold is appropriate and affordable for your objectives, circumstances, and needs.
• Seek advice from a licensed, or appropriately authorised, financial adviser if you are unsure about anything contained in your notice.

New premium rates will apply from Friday 20 March 2026 (the Transfer Date).  Your premiums may decrease, increase, or remain unchanged.

Premiums in your new Mercer Business Super account are calculated using gender-based rates. This helps ensure the cost of insurance more accurately represents the cost to each member.

This – together with factors like your age, the occupation mix within your employer plan and the type and amount of insurance cover held – will determine the insurance cost applicable to you.

Click on the appropriate ‘Premium rates & calculation examples’ button in the section above to estimate your future cost of insurance cover.

After 9am on Tuesday 31 March 2026, log in to your account to see your insurance cost.

The change in insurance premiums could be due to a few factors, such as:

• Moving to a new insurance benefit design
• Moving from a non-gender-based to a gender-based insurance premium
• The occupation mix within your Plan (if applicable).

Your indicative insurance cost is calculated based on:

• The Mercer Business Super insurance rates
• The amount and type of your insurance cover
• Your age, generally at 1 July 2025, or the date your insurance cover commenced, and
• Your personal circumstances such as (but not limited to) your gender. 

If you do not hold insurance before the transfer, then no cover will be set up in your new account.

If we received an insurance application prior to the Limited Service Period for your current account that is still going through underwriting, it will continue to be processed in most cases.  If the application is accepted, the insurance cover will be set up in your new account.

If you’re under age 25 or have an account balance under $6,000, we can’t provide default insurance cover unless you ‘opt in’. If you would like default cover, please log in to your member portal and complete the ‘Adjusting your insurance cover’ form located in the ‘Documents’ section.

Yes, you may be able to apply for voluntary (or underwritten) cover, subject to eligibility criteria. Refer to the relevant insurance booklet above for more information.

If you need help or have questions, call our Helpline on 1800 682 525, 8am-7pm (AEDT), Monday-Friday for help.

Your Plan Rating Factor (PRF) is one of the factors that is used to determine the cost of your insurance cover. It is based on the Insurer's assessment of the collective risk of the employees in your Plan, which includes assessing the industry your Employer is in, the size of the company, and your Employer’s claims history.

You will need your PRF to estimate the cost of your insurance. Please refer to the notice we sent you in February to find out what your PRF is or contact the Helpline for assistance.

You may be able to transfer any existing Death, Death and Total and Permanent Disablement (TPD) or Income Protection cover that you may hold with other super fund(s) or insurance policies to your existing membership under your Plan (subject to limits, conditions and approvals).

Please call our Helpline on 1800 682 525, 8am-7pm, Monday-Friday (AEDT) for details on how you can transfer any existing cover to your Plan membership.

You can apply for Voluntary Income Protection cover in your new account, subject to meeting eligibility criteria. You will need to provide medical and lifestyle information and have your application accepted by the Insurer.

You may also be able to transfer any existing Income Protection cover you hold with other super fund(s) or insurance policies to your new account.

Yes, any exclusions that were applied to your insurance cover in your current account will also apply to your new account.

When your account and insurance is transferred to Mercer Business Super, your insurance cover expiry age will be as follows:

Employer Section (Corporate Category)

If you are aged between 67 and 69 and your Death, or Death and TPD cover has already ceased in your current account, you will not be able to apply to reinstate your Death and TPD cover in your new account.

Individual Section (Retained Category)

Depending on the type of cover you currently hold, you will be impacted as follows:

Fixed cover benefit design

Transition rules will apply to your new account’s cover expiry age if you currently have Death only or Death and TPD insurance cover and:

• You were already 70 on 1 July 2025, or
• You turned 70 or will turn 70, between 1 July 2025 and 30 June 2026.
  
  

If you were already 70 on 1 July 2025, your cover can continue until the earlier of:

• Your 80th birthday and 1 July 2030, for Death cover, or
• Your 75th birthday and 1 July 2030, for TPD cover.
   

If you turned 70 or will turn 70, between 1 July 2025 and 30 June 2026 then your Death cover or Death and TPD cover will expire on 30 June 2026.

Percentage of Salary or Unit benefit design

If you are aged between 67 and 69 and your Death, or Death and TPD, cover has already ceased in your current account, you will not be able to apply to reinstate your Death and TPD cover in your new account.

If you need more assistance, please call us on 1800 682 525 Monday to Friday, 8am-7pm (AEDT). If you're calling from outside Australia, call +61 3 8306 0900.

Tapering of TPD cover will apply if you are age 60 and above and your amount of cover does not automatically reduce with your age. This applies to the following benefit designs:

• Multiple of Income, or
• A fixed benefit amount.
   

Additionally, tapering will also apply to any fixed Voluntary TPD cover you have.

From your 60th birthday, your TPD cover will reduce annually each 1 July by 15% of your amount insured at the 1 July prior to tapering commencing. From age 64 your amount of cover will become fixed until the Cover Expiry Age. The table below shows the proportion of reduction and an example where the amount insured was a fixed amount of $100,000.

The following transition rules will apply:

• If you are already over age 60 but not yet aged 65 on 1 July 2026, your cover will begin to taper from 1 July 2026 and will reduce by 15% (from the amount of cover you had before tapering began) each year. 
• If you are already age 65 and over, your cover will remain fixed until the cover expiry age.
   

Example

John is 59 at Transfer Date and holds $100,000 in Death and TPD cover. TPD tapering will be applied to John’s insurance cover as follows:

_{*The stated reduction is the amount of cover you held immediately prior to your 60th birthday (if applicable).}

No, both Mercer SmartSuper Plan and Mercer Business Super insurance is provided through a group insurance policy with AIA Australia Limited ABN 79 004 837 861 AFSL 230043. 

Call our claims consultants on 1300 008 605 - Monday to Friday, 9am-5pm (AEDT), at the earliest possible time to let us know you need to make a claim.

Visit our website which outlines the key steps involved in making a claim. 

Yes, you can notify us of new claims during the Limited Service Period. Claims already underway will continue as normal during the Limited Service Period. However, should the claim be finalised during the Limited Service Period, payment of the claim may not be made until after the Limited Service Period ends.

If you make a claim, the terms that apply will be those that were in place on the date of the event leading to the claim, regardless of whether they are more or less favourable to you. Your eligibility for insurance will be assessed based on the day your cover started.

You should read the Insurance booklet applicable to your Plan carefully to understand the full terms and conditions that apply to your cover.

If we have already received the claim request, it will continue to be processed during the Limited Service Period and if everything is in order a payment may be made to your current account before the Transfer Date, or once the new account has been established.

Please note that no payment holiday will apply for members making an insurance claim, and premiums will continue to be deducted as normal during the claim period.

Most super funds automatically provide most members with basic (default) insurance cover with their super account when they join.^*

At Mercer Super, most members receive basic Death, Total & Permanent Disablement (TPD) and Income Protection cover. This cover generally provides a basic level of protection if you die or become ill or injured. Your employer may also have selected insurance arrangements on your behalf.

You can find the details in your welcome letter that you received when you joined. You can also view the details in your annual statement which outlines the amount and types of cover you have and how much it costs.

You can view all the details about your insurance cover, including your annual statements anytime by logging into your account.

_{* The cover provided automatically is based on your age, account balance and if you are receiving employer contributions. You can apply to increase, decrease, cancel or change your cover anytime. Age limits and other conditions apply. Read the relevant Insurance booklet applicable to your Plan for more information.}

You can view past insurance costs (premiums) that have been deducted from your super account by logging into your account via our secure member portal at mercersuper.com.au/login and go to the ‘Insurance’ section.

Refer to the Changes to your Super notice for details of the Limited Service Period and when the new insurance costs will be displayed.

You can apply for, check, adjust, opt-out or cancel your cover within the insurance section of your online account. Alternatively, you can call our Helpline on 1800 682 525, 8am-7pm, Monday-Friday (AEDT).

If you choose to cancel your cover, it is important to note that you will not be able to make a claim for insurance benefits for illnesses or injuries that arise after your cover has been cancelled. Also, if you want cover in the future, your application may be subject to acceptance by the Insurer and require underwriting. Your employer may also be fully or partially funding the cost of your insurance.

If your balance in your new account is insufficient to cover the cost of your insurance cover, a grace period of two calendar months will generally apply from the Transfer Date.  We’ll write to inform you of when your cover may be cancelled, including what you can do to maintain your cover.

Please call us on 1800 682 525 Monday to Friday, 8am-7pm (AEDT). If you're calling from outside Australia, call +61 3 8306 0900.