Insurance can step in when the unexpected happens

Insurance can step in when the unexpected happens.

Anyone who’s faced a crisis, emergency or unexpected change of plans understands the importance of having a back-up plan. But have you thought about what would happen if you became terminally ill or injured and were unable to work again?

The importance of having death, total permanent disablement (TPD) and income protection insurance is something many people don’t think about until they find themselves in an unexpected situation. The good news is, if you have cover through your super, the fees are paid directly from your super account. You’ll see on your statement where insurance fees have come out of your super.


We offer three different types of insurance – death, TPD and income protection. Death cover will pay a lump sum to you if you are diagnosed with a terminal illness or to your loved ones if you pass away. TPD cover provides a lump sum benefit if you’re unable to work again because of illness or injury. Income protection is designed to temporarily replace your income if you become too sick or injured to work for an extended time. Unfortunately, it won’t cover you if you lose your job or are made redundant. If you’ve ever wondered how you’d support your family if you got sick or injured — this is where income protection can be useful. Income protection is not automatic, but you can apply for it in MemberOnline if you think it would be beneficial for you.


Depending on your age, membership type and super balance you might have received automatic cover when you joined us. Check your cover in MemberOnline or in your annual statement (we’ll start sending them from mid-September). If you joined CareSuper through your employer (as an ‘employee plan’ member), you probably received ‘standard cover’. This is automatic (default) insurance for those aged over 25 and with an account balance of $6000 or more (or those who elect to have insurance earlier). Our standard cover includes death and TPD insurance. If you pay your own super contributions (as a ‘personal plan’ member), you may not have insurance and might want to consider if you need it. You can tailor your cover to suit you. You can find all the details in the Insurance Guide.


Not sure where to start with your insurance? Here are three easy things you can do now that could pay off in the future.

  1. Check your current insurance
    Log in or register for MemberOnline to see how much insurance you have. If you can’t find your log in details, give us a call on 1300 360 149. You can also see your insurance cover at 30 June 2020 on your annual statement when you receive it.
  2. Check if you have insurance with any other funds
    If you have super with another fund, you might also have some insurance there too. By consolidating your super, you can avoid having multiple lots of insurance cover and paying multiple fees. Before you consolidate, make sure you understand what insurance you currently have with any other super accounts. If you’re happy with your cover there, you can always apply to transfer it across to your CareSuper account. (Your application is subject to our insurer’s approval).
  3. Decide whether you have the right level of cover for you
    It can be difficult to know how much insurance you need. One way to work it out is to consider what costs you’d leave behind if you were to pass away, including any debts. How much income would you need to replace if you could no longer work? You can manage and apply for insurance in MemberOnline.

If you’re not sure how much you need, book a call-back with one of our financial planners — it’s covered as part of your membership.*

If your employer has negotiated a specific arrangement for you as part of a corporate insurance arrangement, some of the information in this article may not apply to you. Check your Insurance Guide for further information.

* Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293 Australian Financial Services Licence #411766.

Information correct as at 14 November 2023.