One of Mercy Super’s most important benefits is our comprehensive insurance cover. With a needs-based design and premiums deducted from your Mercy Super account with no commissions, this cover is an efficient way to provide financial protection for you and your family.
However, if you don’t want your standard cover package to be provided to your automatically when you become eligible, you can elect to opt-out.
Subject to eligibility conditions, if you join Mercy Super within 120 days of starting with a core participating employer, you are eligible for the standard cover package. Unless you opt-in earlier, this standard cover package is generally provided to eligible members automatically aged 25 or over when their account balance first reaches $6,000.
The standard cover package provides salary-based cover where salary details are provided to us by your core participating employer. If you are not eligible for salary-based cover, you are provided with the unit-based standard cover package.
For both salary-based cover and unit-based cover, your level of cover changes automatically according to your age and includes:
Don’t want the standard cover package to be provided automatically?
If you don’t want the standard cover package to be provided to you automatically when you become eligible, simply complete and return an Insurance cover opt-out form. We’ll then update our records to make sure that cover is not automatically provided on your Mercy Super account when you become eligible.
You can still apply to add insurance to your account later if you wish, your application will just be subject to assessment and approval by the insurer.