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Transition plan

The Insurance in Superannuation Voluntary Code of Practice (‘the Code’) started on 1 July 2018.

TWU Nominees Pty Ltd ABN 67 002 835 412, AFSL No 239163 (‘TWUSUPER’, ‘our’, ‘we’) intends to comply with the Code to the extent that the Code’s provisions are in line with the best interests of our members. Whilst we already comply with many aspects of the Code, we will continue to review our insurance benefit design and processes against the new benchmarks set out in the Code and update our transition plan accordingly.

The products that TWUSUPER offers that will be covered by the Code are:

  • Death cover (including terminal illness)
  • Total and Permanent Disability (TPD) cover, and
  • Income Protection cover.

As at 31 December 2018, TWUSUPER proposes to transition the remaining items in the Code by the following dates:

1 July 2019: Cancelling of Cover, Duplicate Cover, Providing Information, Annual Statement, Review of Insurer’s Decision and Refunds


  • update necessary communications to you regarding contribution inactivity
  • implement processes to seek members’ permission to help determine whether any other insurance policies are in place
  • produce a Key Facts Sheet that will be available in welcome kits and on our website
  • ensure that annual member statements contain all requisite information about your insurances
  • put in place appropriate governance arrangements for the review of claim decisions, and
  • default Income Protection – review our position in relation to refunding of Income Protection premiums.

1 August 2019: Promoting, Monitoring and Reporting on the Code

TWUSUPER will monitor its compliance with the Code and report annually on the Fund’s website.

30 November 2020: Automatic Cessation of Cover and Reinstatement

TWUSUPER will apply cover cessation and reinstatement rules in relation to Income Protection and TPD cover.

In relation to automatic cessation of Death cover, TWUSUPER currently does not consider it to be in the best interests of members to introduce rules to facilitate the automatic cessation of cover in line with the Code requirements. TWUSUPER will review this again before 30 November 2020.

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