Through Voyage Superannuation Trust, your clients may have group insurance cover through Zurich Life Limited. The Group Life insurance offering available through Voyage is closed to new members.
You can see if your client has insurance cover through the Account Overview on Adviser Online.
Further information about the insurance offer is available at Voyage.
Under the insurance policy terms, insurance cover may cease if your client departs Australia or becomes a non-Australian resident (except for overseas trips of 3 months or less).
Where the Trustee is notified that your client may be living overseas, they will contact your client asking them to complete a Group Insurance - Departure from Australia form within 30 days, confirming whether they have:
If your client has permanently departed from Australia, their insurance cover will be cancelled from the date of their permanent departure, and any insurance fees charged from this date will be refunded to their account.
If your client has temporarily departed from Australia, their cover will continue under the insurance policy terms for a period of up to three years if they continue to reside outside of Australia.
If your client doesn’t not complete and return the Group Insurance - Departure from Australia form within 30 days, their insurance cover will continue, subject to eligibility criteria, meeting other recently introduced reforms (e.g. Protecting Your Super and Putting Members’ Interests First) and no other reasons for cancellation occur.
However, your client’s claim for an insurance benefit may be declined where Zurich assesses that they have permanently departed Australia and their insurance cover should have been cancelled, noting that premiums will not be backdated or refunded.
If you have any questions, please:
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