NOT ALL INSURANCE OPTIONS ARE BUILT EQUAL
Make sure you and your employees are covered by insurance designed for the building and construction industry At Cbus, we believe insurance cover is essential in providing financial protection and security to our members and their loved ones. As the industry super fund for the building, construction and allied industries, we understand the risks that come with dangerous working conditions. That’s why Cbus offers access to insurance cover for eligible members working with heavy machinery and from heights whereas many other funds exclude such cover.
Recent legislation changes may impact your employees’ insurance cover Stapling took effect on 1 November 2021 and impacts new employees. Individuals are ‘stapled’ to one super fund and they’ll take this fund from job to job – unless they actively choose a different fund.
In 2020/2021, Cbus accepted 2,477 claims and paid out $258 million in benefits to members and their families. Over the 3 years to June 2021, 97% of insurance claims were accepted. Cbus employers and members can access our Advice Services for more information by calling 1300 361 784 (Monday to Friday, 8.30am to 6pm AEST). For more information and the latest updates on stapling, visit cbussuper.com.au/stapling. For more information on Cbus’ insurance options, visit cbussuper.com.au/super/my-insurance-options
Stapling has serious implications for employers in the building and construction industry and for the insurance cover of workers on work sites. If someone is new to the building and construction industry, they’re likely to be ‘stapled’ to a fund that doesn’t offer default insurance appropriate for the hazardous nature of their work and therefore, are at risk of being underinsured, or worse still not insured at all, in the workplace.
Cbus is here to help Cbus’ insurance is cost effective and provides cover which many members would otherwise not be able to acquire, giving you and your employees peace of mind.
Insurance is issued under a group policy with our insurer TAL Life Limited ABN 70 050 109 450 AFSL 237848. Cbus’ Trustee is United Super Pty Ltd. ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262. This information is about Cbus. It doesn’t take into account your specific needs, so you should look at your own financial position, objectives and requirements before making any financial decisions. Read the relevant Cbus Product Disclosure Statement to decide whether Cbus is right for you. Call 1300 361 784 or visit cbussuper.com.au for a copy. Also read the Target Market Determination at cbussuper.com.au/tmd
Everyone – regardless of whether they’re a Cbus member or not – should regularly check their insurance arrangements to ensure they have the right protection for them and their family if the worst should happen.
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