On 28 September 2024, the cost of insurance cover changed1. How much you’ll pay depends on the types and amount of cover you have.
1 As at 30 April 2024, 87% of insured members received a decrease in insurance costs from 28 September 2024. AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
Why the cost of cover has changed
We recognise the importance of having insurance and use our size and scale to offer value-for-money insurance cover to members. To do this, every year we carefully review the insurance products we offer and what they cost. This allows us to minimise the increases to insurance costs whenever possible, or even decrease costs, depending on the number of claims paid in previous years.
Changes to insurance cover
- Members with insurance can make an election (at any time) to keep their cover, so it doesn’t stop if their super account becomes inactive2. You'll need to make this election before your account becomes inactive.
- If you’ve completed a cover extension for certain types of cover, your extension won’t end if you receive an employer super contribution in your super account.
How much has the cost of cover changed?
The cost depends on the cover you have. Here is the full table of costs from 28 September 2024 for AustralianSuper plan, GHD Superannuation Plan, Personal Plan and Super Options.
You can also use our insurance calculator to calculate the new cost of your cover.
You only pay for what it costs to provide your cover. AustralianSuper doesn't make any profit from the insurance we provide.
