Fee-free insurance cover while you're on parental leave
With so much going on, the last thing you need to worry about is an unexpected injury or illness
That's why we offer fee-free insurance while you’re on employer-approved parental leave, provided you meet the eligibility criteria.
How does it work?
You can apply for your insurance fees to be waived for up to 12 months while you’re on employer-approved parental leave.
To be eligible, you must:
- have insurance cover with us
- not be self-employed
- receive approval from your employer to take parental leave (paid or unpaid) and
- be a member of Spirit Super for at least 12 months by the start date of your employer-approved parental leave.
How can I apply?
To apply, complete the Parental leave insurance fee waiver form available from spiritsuper.com.au/forms and return it to us. This form will be available from 1 July 2023.
You’ll need to ask your employer to confirm and sign off your parental leave dates.
If all the requirements are satisfied, your insurance fees will be waived while you’re on parental leave, up to a maximum of 12 months.
Your parental leave insurance fee waiver period will start on the later of:
- the start date you’ve nominated in your Parental leave insurance fee waiver form or
- the date we receive your Parental leave insurance fee waiver form.
Your parental leave insurance fee waiver period will end on the earlier of:
- the date you return to work with your employer
- the parental leave end date you nominated in your Parental leave insurance fee waiver form or
- 12 months from the parental leave start date.
When should I apply?
We can’t back-date the waiver period once your parental leave has started, so make sure that you apply before you start your parental leave.
Anything else I need to know?
During the parental leave insurance fee waiver period, you won’t be able to apply for increased cover, other than life events cover.
If you have default income protection cover, your cover amounts will continue to be updated on your birthday and half-birthday.
At your review, if your default income protection cover amount falls below $1,000, it may automatically be cancelled as it’s calculated on super guarantee contributions received. It may restart if you meet eligibility conditions in the future.
For more information, see our Insurance guide.
Other things to consider when you’re on parental leave
Spouse contributions
You may like to consider spouse contributions to help your super continue to grow while you’re away from work.
Spouse contributions are personal contributions your spouse or partner can make from their after-tax salary into your super account. Read more about spouse contributions.
Reviewing or nominating your beneficiaries
A new addition to your family can be a great time to review, or nominate, your beneficiaries.
Learn all about beneficiaries and how to nominate them.
Investment options
Is your super in the right investment option for your current life stage?
There’s a lot to consider when you’re choosing your investment options. Before making any decisions, have a chat with a super expert by calling us on 1800 005 166.
To review your investment options, log in to Member Online.