It’s always a good idea to know where you stand with your insurance and super - especially if you’re experiencing the economic impacts of COVID-19, thinking about accessing your super early, or your job or income has changed recently.

Here, you can learn more about how your insurance may be affected, including ways to stay on top of it and get the protection you need.

How could my insurance be affected by COVID-19?

We’ve listed below some of the ways your insurance may be affected by COVID-19, and where to find more information. 

There are no pandemic exclusions in place for insurance offered through AMP as a result of COVID-19. This means, you’re eligible to make a claim so long as the usual terms and conditions that apply to your insurance are met, for example, your premiums continue to be paid.

Accessing super early

If you have insurance inside your super account, accessing your super early could affect it in a couple of different ways.

Firstly, if you withdraw a lump sum from your super and it leads to a zero account balance your super account may be closed, and your insurance will be cancelled from the closure date. Your insurance may also eventually be cancelled if your account balance remains too low to pay the monthly premiums.

Secondly, if you’re not able to make any contributions into your super account for 16 months, your insurance may be cancelled because the account is considered inactive under super laws, unless you tell your super provider you want to keep it.

Learn more

Will my income protection cover me if I’ve lost work?

Income protection covers you if you can’t work because of illness or injury. Income protection doesn’t cover loss of work for other reasons (like business closure).

If you have income protection with your super, it’s important to understand how it may be affected by a change to your work hours or income, so it’s a good idea to check your policy. What’s more your income protection cover will stop if you’re no longer employed.

For more information on your policy and cover, please contact your financial adviser or our customer support team on 131 267.

Learn what you can do next

Will my insurance be affected if my work hours have changed?

Generally, insurance inside super is assessed using the hours you were working and your income at the time of injury or illness. However, since many people’s hours had been reduced as a result of COVID-19, some insurers had brought in some short-term measures to help.

​​For example, with certain Resolution Life Australasia insurance policies held inside an AMP super account – claims made where the injury or illness occurred between 29 February 2020 and 31 March 2021 will be assessed in a way that makes sure the benefits aren’t reduced because of a reduction in work hours. Learn more
​Each insurance type and policy has its own terms and conditions, so you’ll need to check yours to understand more, or call your super provider.​

​COVID-19 insurance FAQs

What if I’ve been made redundant?

If you have an employer superannuation account, then, when you leave the employer the insurance held in this account may be affected. For example, if you received insurance automatically when you joined your employer (as part of the plan), once you leave your job, this insurance may no longer be passed on to you, or the cost of it may be higher. Please check your insurance policy or call us for more information specific to your plan.

There may also be eligibility requirements to be aware of once your circumstances change including age, account balance and contributions - if you’re not in a position to make any contributions into your super account for 16 months, your insurance may be cancelled under super law.

Learn more

Check my insurance cover in My AMP

Do I have enough cover?

It’s important to review your cover regularly to make sure it’s still right for you, especially if your circumstances have changed since you took out the insurance. It may be worth considering some adjustments to help reduce the cost of your insurance, including: 

  • reducing the sum you’re insured for
  • removing benefits or additional cost options
  • increasing the waiting period or reducing the benefit period (income protection)
  • removing indexation or declining an annual indexation increase (will occur at the next policy anniversary) – indexation is where your insurance policy increases to keep up with inflation.

Options can vary so please refer to your insurance terms and conditions for more information about these benefits or speak to a financial adviser. If you’re experiencing financial hardship and you’re worried about losing your insurance, please contact us to talk through your options on 131 267.

To understand the type of insurance you may need and how much, you can use our handy calculator below. You can also get an idea of your life insurance needs using the government’s MoneySmart calculator.

Insurance needs calculator
There are many factors that affect how much insurance you need. This calculator can help you work out what type and how much cover you may require.

What to do next

Things are changing all the time, and we’re working with insurers to help you get the support you need. We’ll keep this page updated with the latest information.

Insurance inside super support

This information is for insurance inside super provided through an employer plan or retail super.

​Some insurers have provided extra relief because of the impact of COVID-19. For example:

  • Resolution Life Australasia supported super members whose work hours had been reduced due to COVID-19. They have  assessing claims made where an injury or illness occurred between 29 February 2020 and 31 March 2021 in a way that makes sure benefits weren’t reduced because of a reduction in work hours. Find out more

Need help?

​Call us on 131 267 to understand your cover and how we can help you.

Or find out more here:

Access support


AMP Bank is offering home loan relief for any of our clients doing it tough.

Home loan relief

General hardship

Practice finance


AMP is working with our insurers to offer you support and protection during COVID-19. Find out more about claims and what extra insurance support is available: 

Insurance inside super FAQs

Personal insurance FAQs

COVID impact on insurance inside super

Super and Retirement

Under new measures announced by the government you may be able to access your super early or reduce the amount you withdraw from your pension.

Accessing super early

Minimum pension drawdown


Frequently asked questions
Answers to common coronavirus related questions like - how to know if you’re still covered, what happens if your work has closed or you’re stuck overseas.

Get in touch

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Insurance, Super and Retirement

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Important information

Products in the AMP Super Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions available from AMP at or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.