If your employer is making super payments for you, there’s a good chance you automatically have insurance cover with us as an Employee Plan member.
The best way to approach this sensitive subject is by thinking of those who depend on you. Put simply, death cover can provide support for your loved ones if you die. You just need to tell us who you’d like the money to go to by completing a valid binding nomination. If you don’t, the decision is left to us and since we’re bound by super regulations, the result may not be as you intended.
Total and permanent disablement (TPD) cover
Gives you a cash payment if you’re too unwell or injured to work again. (Provided you meet the insurance policy terms and conditions.)
How much you’re covered for
This depends on a couple of things, such as how old you are and what you do for work.
Younger people usually have less debt and fewer financial responsibilities. This means the cover you get and how much it costs is lower too. When you turn age 30 your death cover increases.
What you do for a living can also make a difference. You’re automatically put into a general insurance category when you join. However, if you’re an office worker or a professional, you can apply to change your category in MemberOnline any time so you’ll pay less for your cover or get more for the same price. (Eligibility criteria apply.)
You’ll find full details in our Insurance Guide.
What it costs
The amount you pay for any insurance cover (‘premiums’) is deducted from your super balance each month.
You can see how much standard cover costs by entering your details into our Insurance calculator.
To check exactly how much insurance cover you get and see the premiums you pay, log in to MemberOnline.
Choose cover that works best for you
If standard insurance isn’t quite right for you, it’s easy to make changes. You can apply for income protection or different death or TPD cover, or opt out of insurance altogether, through MemberOnline whenever you want.
If you’re a new Employee Plan member (and under 60), boosting your insurance cover is very easy. You can get up to seven times your yearly income in cover (up to $750,000), or add income protection on top, simply by answering a couple of health questions within 90 days of the date on your welcome letter or email.
Our Insurance Guide has all the important information you need, so make sure to read it before making any changes.
Personal Plan and Corporate members
If you’re a Personal Plan member (meaning you pay your own super contributions or you're a member through your spouse) or part of a corporate insurance arrangement, your situation is a bit different.
Personal Plan members don’t get default cover, so you’ll need to apply for access to our full range of insurance benefits. Find out how to tailor your cover.
To check the specifics of your corporate insurance arrangement, it’s best to head to the Corporate Insurance PDS or your relevant CIA Insurance Guide.