AustralianSuper offers Death and Total & Permanent Disablement (TPD) cover as well as Income Protection insurance.
We’ve used our size and bulk-buying power to get a great deal and offer insurance that is much cheaper than buying it as an individual.
In addition, the insurance premiums are automatically deducted from your super account, so you don’t have to worry about when the premiums are due.
Furthermore, insurance premiums effectively get a 15% tax deduction that is passed back to you.
When you first join, you can apply for up to $1.5 million cover, without having to provide medical details.
Your insurance cover
Getting cover is easy. When you join, you’re automatically approved for set levels of cover for each of the above (some conditions apply) except if you are joining the Personal or Jockey’s plan, then you will need to apply for cover.
You’re free to apply to change your level of cover at any time (you might need to provide medical information to the Insurer).
Death and TPD insurance
Insurance for Death and TPD is designed to provide financial support if you die or become totally and permanently disabled.
Cover is available for:
- Death – from 15 to 70 years of age
- TPD – from 15 to 65 years of age.
Our insurance is based on your age and the type of work you do. You can get cover as a fixed amount, but the cost increases as you age. Or you can have a fixed cost and the cover reduces as you age. You choose.
Income Protection insurance
Income Protection insurance helps protect your income if you are disabled and unable to work through illness, injury or accident.
Income Protection cover is provided in units. In the event of temporary disability, each unit of Income Protection cover provides a benefit of $500 a month (before-tax), and is payable for up to two years.
Cover is available up to age 70.
Your insurance premium is deducted from your super account each month.
Cost of insurance
Use our Insurance calculator to work out how much your insurance will cost for the amount of cover you want.
AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450 AFSL 237848.