Insurance — Reduction or cancellation form

Please complete this form if you are applying to make changes to your existing cover with NGS Super including to:

  • reduce or cancel your
    • Life (which includes terminal illness) cover
    • Total and Permanent Disablement (TPD) cover
    • Income Protection (IP) cover
  • reduce your IP benefit payment period
  • increase your IP waiting period.

Complete Complete Section 3 if you are applying to cancel cover.

Complete Section 4 if you are applying to reduce cover, including decreasing your IP benefit payment period and increasing your IP waiting period.

Complete Section 5 if you would like to keep your insurance cover should your account become Inactive.

If you need help

If you’re unsure of your decision, consider obtaining professional advice. We offer:

  • advice at no extra cost through our Advice Helpline
  • complimentary advice through our Customer Relationship Managers where available
  • tailored advice through NGS Financial Planning.

To make an appointment, phone us on 1300 133 177 Monday to Friday, 8am-8pm (AEST/AEDT), or complete our Financial planning enquiry form.

Personal details

Default insurance category

It’s important to advise us of your occupation details, employer details and annual salary to ensure you have the right insurance category as this may impact your sum insured and will impact premium amounts.

Applying to cancel cover

Applying to reduce cover or adjust your Income Protection benefit payment period and/or waiting period

This application, if accepted by the insurer, will replace any existing level and type of insurance cover you currently hold in NGS Super. Your current insurance will be:

  • Fixed Cover or
  • Age-Based (reflecting a Default Cover Multiple of Default Cover).

You can find your type of cover by viewing your current Member Statement available through Member Online.

If you reduce your insurance cover and you then apply for additional cover in the future, you will need to provide health information and your request will need to be assessed by the insurer.

Applying to reduce cover or adjust your Income Protection benefit payment period and/or waiting period

This application, if accepted by the insurer, will replace any existing level and type of insurance cover you currently hold in NGS Super. Your current insurance will be:

  • Fixed Cover or
  • Age-Based (reflecting a Default Cover Multiple of Default Cover).

You can find your type of cover by viewing your current Member Statement available through Member Online.

If you reduce your insurance cover and you then apply for additional cover in the future, you will need to provide health information and your request will need to be assessed by the insurer.

Inactive account — election to maintain your cover

If you have insurance cover in your NGS account and your account becomes Inactive for a continuous period of 16 months, your cover will be cancelled unless you have elected to keep it. You must make an election before your account becomes Inactive. Generally, an account is Inactive where we have not received a contribution or rollover for a period of 16 continuous months.

To maintain your insurance cover and prevent it from being cancelled, simply complete this section.

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