Insurance in Superannuation Voluntary Code

Insurance in Superannuation Voluntary Code

We’ve previously stated our intention to adopt the Insurance in Superannuation Voluntary Code of Practice (the Code). 

Since the development of the Code, many of its requirements have been overtaken by legislative and regulatory reforms. The Code Owners (the Australian Institute of Superannuation Trustees (AIST), the Financial Services Council (FSC) and the Association of Superannuation Funds of Australia (ASFA), have since withdrawn the Code and replaced it with Guidance Notes. 

We’re now working on improving the ways we work based on guidance notes on claims handling and vulnerable members.  

These standards are aimed at meeting member expectations and establishing a level of service members should expect from their super fund when they make an insurance claim.