AustralianSuper offers Death and Total & Permanent Disablement (TPD) cover as well as Income Protection insurance
We've used our size to negotiate premiums at bulk rates and offer insurance that is usually cheaper than buying it as an individual.
We automatically deduct the insurance premiums from your super account, so you don’t have to worry about when they are due.
Furthermore, insurance premiums effectively get a 15% tax deduction that is passed back to you.
Your insurance cover
Getting cover is easy. When you join, you're automatically given Death, Total & Permanent Disablement (TPD) and Income Protection insurance (some conditions apply) except if you are joining the Personal 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 health 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 up to 70 years of age
- TPD – from 15 up to 65 years of age.
Your cover is based on your age and the type of work you do. You can get cover as a fixed amount and the cost increases as you age. Or you can have units of cover at a fixed cost per unit. The cover may change dependent on your 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. You can also apply for a longer benefit payment period of up to age 65.
Cover is available up to age 70.
Your insurance premium is deducted from your super account each month.
Cost of insurance
Use our Insurance Cover and Premium 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.