New Product Tranfer FAQs

Do I have to transfer to a new product?

At this time the Fund is asking members to transfer to one of our new products. The new products are part of the Fund's strategy for a strong future, each transfer to a new product will contribute to the potential for greater benefits for all members. In the future we may cease to operate the old products.

What if I don't submit my transfer response by the due date?

All response forms submitted by the due date will processed in time for your cover to commence on 1 April 2007. Responses received after that date will be processed in order with the change in cover occurring on the day they are entered into the Fund's system. Every member transferring to a new product will receive confirmation of their transfer including the date of commencement of their cover under the new product. 

What is the benefit of the waiting period waiver when transferring to a new product?

All transfers to new products received before 1 July 2007 can be made without having to serve waiting periods for increases in your cover. For instance, if your current hospital cover has an excess and you choose to transfer to a new product with no excess you would benefit. Usually you would serve a 2 month waiting period during which an overnight or longer hospital visit would still incur the excess payment from your previous level of cover. With the waiting period waiver you would not have to pay the excess. You will be covered immediately to the level of the new product you choose. The waiting period waiver includes moving from a hospital product with standard medical gap cover to Top Cover which includes our premium gap cover with benefits based on the AMA List of Medical Services and Fees.

Is there any circumstance when the waiting period waiver does not apply?

The waiver does not apply to adding a different type of cover that you have not had before. For instance, if you only have hospital cover now and you want to add ancillary services cover, the added Extras product you choose will still have waiting periods.