Due to government legislation called Protecting Your Super (PYS), your insurance cover will end if your account becomes inactive – that is, if your account hasn't received an Active Contribution (such as an employer contribution or rollover) for a continuous period of 16 months.
To keep your insurance cover, you can either make a valid election to maintain cover before your account becomes inactive, or ensure you receive a contribution or rollover into your account. You will be notified prior to your cover ending due to account inactivity.
To make a valid election or if you'd like to discuss your options, you can:
Contact our customer support team on 1300 049 532
Email us at help@spaceship.com.au
Manage your insurance through the Spaceship app
If your cover has ended due to your account becoming inactive, you may be able to apply to have your cover reinstated within six months, subject to the following:
be accepted by the insurer for reinstatement of cover by completing the relevant Reinstatement of Cover form;
reinstatement of cover will be effective from the date your cover stopped;
any outstanding premiums to continue your cover from the date cover is reinstated are paid by you;
you maintain a sufficient account balance to cover at least a minimum of two month’s additional premiums (and any other minimum balance requirements in your Spaceship Super account); and
for Income Protection cover, you are employed for at least the minimum hours during the 12 consecutive months immediately preceding the date your cover was cancelled
For further information, please refer to the Insurance Guide.