Super funds in Australia: Life Insurance Fees and Cover

Find out how much life insurance cover is included inside your super fund and how much you're paying.

Note: if your super fund is not listed, its life insurance information may not be publicly available. If so, it's a good idea to get in touch with your superfund.

Unit based (age based) vs fixed cover

There are two main types of insurance cover that is found inside a super fund.

What is unit based cover?

Unit based cover is the default way that insurance cover is allocated to super fund members. You are given 'units' of cover which provides:

  • A certain amount of cover based on age
  • For a set price

How much money can be paid out?

The number of units you are given and the amount of cover that's provided in each unit is usually is based on your at the time of your claim age. This is how unit based cover can work:

Age at the time of claimAmount provided by 1 unit for ageUnits providedDefault cover that’s provided for age (4 units)
Before 25th birthday$110,000.002$220,000
25 – 44$110,000.004$440,000.00
45 – 49$70,000.004$280,000.00
50 – 54$50,000.004$200,000.00
55 – 59$40,000.004$160,000.00
60 – 64$20,000.004$80,000.00
65 – 69$10,000.004$40,000.00
70 – 74*$5,000 Death cover only4$20,000 Death cover only
75 – 79*$2,500 Death cover only4$10,000 Death cover only

How much will it cost

Unit based cover will typically have a fixed cost. This means the cost of cover stays the same but the amount of cover that's provided will vary based on your age.

What is fixed cover?

Fixed cover is the opposite of unit based cover. Here you will receive a fixed amount of life insurance cover.

  • This amount of cover will stay the same throughout the life of the policy
  • But the cost of insurance will increase as you get older.

Here's a snapshot of how it works:

The yearly cost per $10,00 per cover

MalesFemales
AgeDeath cover onlyDeath and TPD coverDeath cover onlyDeath and TPD cover
25 - 45$4.26$6.20$1.75$2.74
46 - 55$9.86$25.80$5.70$20.16
55+$21.24$72.51$12.96$55.53

*Listed costs

Any costs provided in the table below are considered as a general guide. They may vary based on factors such as:

  • Age
  • Gender
  • The amount of cover you choose
  • Occupation status
  • Lifestyle
  • Current health status

Search our list of super funds and life insurance cover

Super fund
Maximum sum for Life Insurance
Maximum sum insured for TPD
Maximum Income Protection (per month)
Cost* (Learn more about how costs work)
Advance Retirement Suite
No maximum
$5 million
$60,000 per month
  • Admin fee of $4.10 per month
  • Premium is based on various factors
AIA Superannuation Fund
No maximum
$5 million
$60,000 per month
  • Policy fee of $80.99 per year per life insured
  • Premium based on various factors
  • The minimum premium is $300 per year per policy
Australian Catholic Superannuation and Retirement FundThe value ranges from $108,200 at or below age 20 to $3,400 at age 69 (Per unit for Death and TPD)The value ranges from $108,200 at or below age 20 to $3,400 at age 69 (Per unit for Death and TPD)
85% of a salary of up to $15,000
  • Income protection premium is based on various factors
  • $1.35 per unit per week (Death and TPD cover)
Australian Ethical Retail Superannuation Fund
Unlimited
$5 million

The lesser of:

  • 75% of last agreed annual salary or wages (as earned in one calendar month), plus superannuation contributions of up to 10% of salary; or
  • $30,000 per month.
  • Default Cover will cost $3.24 per week
  • $1.08 per unit per week (Death and TPD cover)
  • $0.63 per unit per week (Death)
  • Income protection premium is based on various factors
Australian Meat Industry Superannuation Trust (AMIST)
Calculated by various factors
Calculated by various factors
75% of your income.
  • $1.73 per unit per week (Death)
  • $2.89 per unit per week (TPD cover)
  • Income protection premium is based on various factors
AustralianSuper
No maximum
$3 million

The lesser of:

  • $500 for each unit of Income Protection cover you have up to 85% of your salary (75% salary + 10% super)
  • Up to a maximum of $30,000 a month.
  • Income protection premium is based on various factors
  • $0.751 per unit per week (Death)
  • $0.948 per unit per week (TPD cover)
AvSuper Fund
Unlimited
$3 million
Provide a monthly income of up to 75% (plus 10% for super contributions)
  • Premium is based on various factors(Two units of Automatic cover will cost $1.02 (professional occupations) to $3.06 (heavy blue collar occupations) per week)
BHP Billiton Superannuation Fund
Unlimited
$3 million
n/a
  • Premium is based on various factors
  • BHP will confirm your level of insurance and your premiums paid on your six monthly Member Benefit Statements.
  • Premiums calculated based on $0.75 per unit per week.
Bluescope Steel Superannuation Fund

Maximum - $132000 (for age 35 or less)

Maximum - $132000 (for age 35 or less)

n/a
  • Premium is based on various factors
  • Death insurance cover is purchased in ‘units’ and each unit of cover will cost $0.78 per week, or $40.56 per year
Boc Gases Superannuation Fund (BOC Super)

Generally equal to: 18% x annual salary x years & months from the date of death to age 60.

A minimum of $50,000 of cover is provided through to age 70.

The amount of TPD insurance is $25,000

(up to age 65)

$30,000 per month.
  • You do not pay the costs of standard death and TPD and disability income cover.
  • Additional insurance can be purchased and the cost depends on depends on your age, occupational category and the amount of cover you have.
  • The cost of voluntary death insurance cover ranges from 35 cents p.a. per $1,000 of cover for a 30 year old white collar category member to $10.68 p.a. per $1,000 for a 69 year old blue collar category member.
BT Lifetime Super – Employer Plan
$3 million (Death and TPD)
$3 million (Death and TPD)

The lesser of:

  • $500 for each unit of Income Protection cover you have up to 85% of your salary (75% salary + 10% super)
  • Up to a maximum of $30,000 a month.
  • Premium is based on various factors
  • Ranges from $0.351 to $14.303 per unit per week.
Care Super
$10 million
$3 million
$40,000 per month
  • $1.02 per unit per week (Death)
  • $1.03 per unit per week (TPD cover)
  • Income protection premium is based on various factors
CBH Superannuation Fund
$10 million
$3 million
75% of your monthly income prior to ceasing work, up to a maximum of $12,000 per month unless you have been individually
accepted by the insurer for a higher benefit.
  • Premium is based on various factors
  • Depends on your age and $1,000 of insured amounts for Income Protection
Christian Super
$2 million
$3 million
75% of your gross salary income
  • Premium is based on various factors
  • Premiums will depending on your Occupational Group and age.
Clough Superannuation Fund
Unlimited
$3 million
n/a
The annual premium rates payable by you for each $1,000 of additional cover)
Club Plus Superannuation Scheme
$5 million
$3 million
$30,000 per month.
  • Death, Terminal Illness and TPD cover: $3.20 per unit per week (automatic insurance
  • Income Protection: Premium is based on various factors
  • The cost of insurance is deducted each time your employer makes an SG contribution and is equal to 9.35% of the employer (SG) contribution paid to your account.
  • For Personal Division members, the cost of cover is deducted monthly and equal to 0.849% of the insured income advised.

 

Club Super
$5 million
$3 million
$30,000 per month.
  • $3.20 per unit per week (For automatic insurance: Death, Terminal Illness and TPD cover)
  • Income protection premium is based on various factors
  • The cost of insurance is deducted each time your employer makes an SG contribution and is equal to 9.35% of the employer (SG) contribution paid to your account.
  • For Personal Division members, the cost of cover is deducted monthly and equal to 0.849% of the insured income advised.
Colonial First State Rollover & Superannuation Fund
No maximum
No maximum
n/a
  • Premium is based on various factors
  • Formula of premium: [(Death premium rate × Death occupational factor) + (TPD premium rate × TPD occupational factor)] × insurance cover / $1,000
  • You will be advised in writing of the actual premium and commencement of insurance cover depending on your personal circumstances.
Commonwealth Bank Group Super
$5 million
$3 million

The lesser of:

  • 75% of your monthly
  • income or
  • $25,000 per month
The amount of your premium will generally depend on the type and amount of cover you have, your age and sex, as well as any special circumstances that the insurer may apply to your cover.
Commonwealth Essential Super
  • Varies with age
  • $200,000 (Age 30 to 39) (Combined death and TPD)
  • Varies with age
  • $200,000 (Age 30 to 39) (Combined death and TPD)
n/a
The amount you’ll pay for your cover depends on:

  • The type of cover you have
  • The amount of cover
  • Your age
  • Whether you’re male or female
Construction & Building Unions Superannuation (Cbus)
$5 million
$2 million

The Lesser of:

  • $30,000 a month or
  • 85% of your salary
  • Premium is based on various factors
  • The total cost depends on how many units of cover you choose, the type of cover and your occupation category
Crescent Wealth Superannuation Fund
Unlimited
$3 million

The Lesser of:

  • 75% of your monthly income or
  • $25,000 per month
Premium is based on various factors(age, type of cover)
CUBS Superannuation Fund$5 million
$2 million

The Lesser of:

  • $30,000 a month or
  • 85% of your salary
  • Premium is based on various factors
  • The total cost depends on how many units of cover you choose, the type of cover and your occupation category
Deseret Benefit Plan for Australia
Calculated by various factors
n/a
n/a
To help protect you and your family from the unexpected, the Plan automatically provides insurance cover for eligible employees if you should die or become permanently disabled. LDS Australia pays the cost of this cover for you.
DIY Master Plan

Calculated by various factors

Not Stated the benefit amount
n/a
  • Premium is based on various factors
  • Different premium rates apply to different types of cover based on your personal circumstances including your age, occupation, health status and amount of cover.
Duluxgroup Employees Superannuation Fund
  • Calculated by various factors
  • $129,600 (From Age 16 to 35)
Calculated by various factors
75% of your super
salary
The premiums charged depend on your age and how much cover you wish to purchase. To calculate your premium, follow these steps:

  • Determine how much cover you need (see previous page).
  • Go to the table on the left and find the rate for your age next birthday.
  • Calculate your premium as follows: insurance rate x amount of insurance cover selected ÷ $1,000.
  • If the insurer has applied a loading to your insurance cover, then you need to apply that loading to the premium in step 3
Enterprise Super
Unlimited (TPD and Death)
Unlimited (TPD and Death)
$30,000 per month
Based on your age and the type of work you do.
equipsuper
Unlimited
$3 million
$30,000 per month
  • Premiums for all death and TPD cover are based on an annual cost per $1,000 of cover. Premiums are calculated and deducted on the last day of each month, based on your level of cover and age. If your account does not have sufficient funds to pay your premium when it is due, your cover will cease.
  • Rates per $1,000 can be found in the PDS's
EquitySuper
$5 million
$3 million

The Lesser of:

  • $10,000 per month
  • If you hold income protection within the fund, the maximum benefit allowed ($30,000 less the amount protection cover under the fund)
  • Premium is based on various factors
  • Depends on membership.
Fairbrother Employees Retirement Fund

Calculated by various factors

Calculated by various factors

n/a
  • Premium is based on various factors
  • Insurance premiums are deducted annually from members’ accumulation accounts. The premium rates for death and total permanent disablement for each $1,000 of cover are as follows:
Fiducian Superannuation Fund
$5 million
$2.5 million
Under the terms of
an income protection policy the Trustee will be paid the income
payments from TAL.
  • Premium is based on various factors
  • The premium you need to pay will depend on your age, gender, occupation, state of health, and the type of cover you choose. Insurance is provided initially for one year, with your first monthly premium payable monthly in advance.
First State Superannuation Scheme (First State Super)
Unlimited
$5 million
  • Two-year benefit period – up to $50,000 per month
  • Five-year benefit period or benefit period to age 65 – up to $40,000 per month
Death and TPD:

  1. Work out your annual premium per $1,000 of cover, taking into account your age, your insurance category
  2. and whether the cover is death and TPD, or death only.
  3. Multiply by the number of $1,000s of cover you wish to apply for (your fixed cover amount divided by $1,000).
  4. Divide the annual premium by 12 for your monthly premium

Income Protection premium is based on various factors.

First Super
$5 million
Not Stated the benefit amount
75% of your
annual salary plus a 10% contribution to super (85% in total) to a
maximum of $25,000 per month
  • $2.31 per unit per week (Death and TPD)
  • 86 cents per week (Death)
  • Income protection premium is based on various factors
Goldman Sachs & JBWere Superannuation Fund
Unlimited
$3 million
75% of your income.
Premium is based on various factors
Grosvenor Pirie Master Superannuation Fund Series 2
$5 million
$2 million
75% of an Insured Member’s Pre-Disability Income up to a maximum Monthly Benefit of $20,000 for up to two
years (or to age 65 if earlier)
Death and TPD Insurance Premium Rates:

  • Cost per annum per $1,000 insured
  • Rates will vary based on various factors

Income Protection:

The premium payable by you depends on your age, gender, occupation and smoker status and is deducted from Insured Member’s accounts monthly in arrears.

Guild Retirement Fund
$5 million
$3 million

The Lesser of:

  • 85% of your income or
  • $30,000
  • $0.46 per unit per week (Death)
  • $0.31 per unit per week (TPD)
  • Income Protection premium is based on various factors
Heidelberg Australia Superannuation Fund

Calculated by various factors

For current employee members of the Fund, your level of insurance cover is calculated as:

15% x the number of years and months from the date of your death or
disablement to age 65 x annual salary

Calculated by various factors

For current employee members of the Fund, your level of insurance cover is calculated as:

15% x the number of years and months from the date of your death or
disablement to age 65 x annual salary

n/a
Premium is based on various factors e.g. your age and how much cover you wish to purchase.
HUB24 Super Fund
Unlimited
$3 million

The Lesser of:

  • 75% of your income or
  • $25,000
Premium is based on various factors e.g. your next birthday, gender, smoking status and occupational classification, and the type of benefit you have chosen.
IAG & NRMA Superannuation Plan
$10 million
$3 million
$50,000 per month
Premium is based on various factors such as your age and amount insured.
Incitec Pivot Employees Superannuation Fund
$5 million
$3 million
$20,000 per month
Premium is based on various factors.
ING Direct Superannuation Fund
No maximum
$5 million
85% of your income, up to $30,000 per month
Premium is based on various factors e.g your gender, age and occupation.
Jamestrong Packaging Australia Superannuation Fund
$40,800 (Death and TPD, One unit of cover, up to 35)
$40,800 (Death and TPD, One unit of cover, up to 35)
75% of your superannuation salary
  • $1 per unit per week (Death and TPD cover)
  • 50 cents per week (Death Only Cover)
  • Income protections are based on various factors
Kinetic Superannuation Fund
$5 million
$3 million
$25,000 per month.
  • Premium is based on various factors e.g. your occupational classification and age
  • Cost table can be found in the PDS
Labour Union Co-Operative Retirement Fund (LUCRF)
$5 million
$3 million
30000 per month
  • $3.00 per unit per week (Death and TPD cover)
  • $1.50 per unit per week (Death and TPD cover)
  • Income Protection Premium is based on various factors

 

Law Employees Superannuation Fund (LESF)
$5 million
$3 million
  • 75% of your normal salary or
  • $25,000 per month
  • $1.06 per unit per week (Death and TPD cover)
  • Income protection premium is based on various factors
legalsuper
No maximum
$3 million
$30,000 per month
  • $1.95 per unit per week (Death and TPD cover)
  • $1.37 per unit per week (Death only cover)
  • Income Protection Premium is based on various factors
Local Authorities Superannuation Fund (Vision Super)
$5 million
$2.5 million
n/a
Age based cover has a flat premium of $1.43 per unit per week. The cover each unit provides decreases with age.
Local Government Superannuation Scheme (LGS Super)
Unlimited
$3 million
$25,000 per month.
Premium is based on various factors e.g age and gender.
Lutheran Super
Unlimited
$3 million
75% insured salary plus 9.5% superannuation contributions
Fixed cover: The cost per unit of fixed cover depends on your age and amount of cover.Unit based cover:

  • $0.56 per unit per week (Death and TPD cover)
  • $0.47 per unit per week (Death)
  • Income protection premium is based on various factors
MacMahon Employees Superannuation Fund
Unlimited
$3 million
n/a
$1.60 per unit per week (Death and TPD cover)
$1.00 per unit per week (Death)
Macquarie University Professorial Superannuation Scheme
No maximum
$5 million
  • Maximum $30,000 per month
  • Up to $40,000 for the first 2 years of selected benefit period.
Premium is based on various factorsThe factors upon which the premium will depend include, the sum insured/monthly insured amount, the options which apply, the premium payment frequency, the premium type and the insured person’s:

  • Age (premiums generally increase with age);
  • Gender;
  • General health;
  • Smoking status (premiums are higher for smokers);
  • Recreational pursuits;
  • Occupation; and
  • State of residence.
Manildra Flour Mills Retirement Fund
No maximum
$5 million
$30,000 per month
Premium is based on various factors

  • Standard Insured Benefit. Insurance premiums are paid by the Company.
  • Voluntary Insurance Benefit. Insurance premiums are deducted annually from your Company Accumulation Account in the Fund. They are based on your age, sex and occupation
Map Superannuation Plan
No maximum
$5 million
75% of your Declared Earned Income
(plus up to 10% of your Declared Earned
Income as Superannuation Contributions
Benefit) not exceeding $30,000 per
month.
  • $3 per unit per week (Death and TPD cover)
  • Income Protection protection premiums based on various factors

 

Maritime Super
$2 million (Death and TPD)
$2 million (Death and TPD)
75% of your salary to a maximum of $20,000 per month
  • $1 per unit per week (Death and TPD cover)
  • Your level of cover will vary year to year based on your age, while the cost of your cover will stay the same.
Mars Australia Retirement Plan
$1.5 million
n/a
n/a
Premium are based on various factors
Max Super Fund
$5 million
$2 million
75% of pre-disability
income limited to $20,000 per month
Premium is based on various factors such as your personal circumstances including your age, occupation, health status and amount of cover.
Meat Industry Employees Superannuation Fund

Calculated by various factors

$200,000 (From Age 15 to 64)

Calculated by various factors

$200,000 (From Age 15 – 38)

n/a
The cost of the insurance cover to the Trustee is $6.58 per insured member per week. The Fund pays the Insurer monthly and recoups the net of tax cost from eligible members at the rate of $5.60 per week.
Media Super
$5 million.
$2 million.

The Lesser of:

  • A maximum of 75% of your Monthly Income (plus 12% super paid into your Media Super account) and
  • $30,000 per month
The premiums for this unit based cover will depend on the number of units you hold, your age next birthday and any applicable medical loadings.For employer selected default cover the base cost is:

  • $0.44 (Death and TPD)
  • $0.29 Death only

Plus any additional loadings.

Mercer Portfolio Service Superannuation Plan
$5.5 million
$3 million
$30,000 per month
(2 year benefit period)
or $25,000 for benefit
periods of greater
than 2 years
Premium is based on various factors e.g. the type and level of your cover, your age, gender, whether you smoke and what occupational classification you have been accepted for.
Mercer Super Trust
Unlimited
$2 million
$20,000 per month depending on your salary
Premium is based on various factors e.g. how much more cover you desire.
Mine Wealth and Wellbeing Superannuation Fund
Calculated by various factors e.g. age
Calculated by various factors e.g. age
75% of your average salary over the 12 months
Premium is based on various factors such as your age and gender. Premium table available in the PDS.
Mines Rescue Stations Staff Superannuation Plan
Calculated by various factors e.g. age
Calculated by various factors e.g. age
75% of your average salary over the 12 months
Premium is based on various factors such as your age and gender. Premium table available in the PDS.
MLC Superannuation Fund
No maximum (special terms may apply for amounts greater than $15 million)
$2 million
  • $60,000 (for certain professional occupations such as surgeons, accountants and solicitors)
  • $30,000 (for other occupations)
Premium is based on various factors including:

  • Choice and combination of benefits
  • Age at the start of your insurance and chosen premium structure
  • Sex
  • Occupation
  • Smoking status
  • Medical history
  • Lifestyle and leisure activities
  • Frequency of premium payments and applicable policy fee, and
  • Financial arrangement
MTAA Superannuation Fund
$5 million
$3 million

The lesser of:

  • 85% of your pre-disablement monthly income (10 to your super contributions) and
  • $25,000 per month.
  • $0.74 per week (Death only)
  • $1.36 per week (TPD)
  • $2.10 per week (Death & TPD)
  • Income protection premium is based on various factors
MyLifeMyMoney Superannuation Fund
Unlimited
$3 million
$3,000 per month
Premium is based on various factors e.g. your age, the type of cover and the amount of cover you have.
National Australia Bank Group Superannuation Fund A
$1 million ( addition to your Standard death
and TPD cover)
$1 million ( addition to your Standard death
and TPD cover)
75% x Fund Salary.
Premium is based on various factors using age based premium rates and will depend on the type and level of cover.
Nationwide Superannuation Fund
Unlimited
$5 million

75% of your monthly pre-disability income; and

$30,000 per month.

Premium is based on various factors such as your age, the type of cover (i.e. waiting period and benefit period selected for income protection), yourgender and occupation rating.
Newcastle Permanent Superannuation Plan
$5 million
$2 million
n/a
Premium is based on various factors e.g. your age and type of cover.
NGS Super
$10 million
$3 million
  • $41,000 per month for a benefit period of two years or five years
  • $31,000 per month for a benefit period to age 655 or to age 67
Premium is based on various factors e.g. your age and type of cover.
Oracle Superannuation Plan
$1.25 million (Death and TPD) (Automatic Acceptance Limit)
$1.25 million (Death and TPD) (Automatic Acceptance Limit)
  • The maximum temporary disablement benefit is a monthly income equal to 75% of your salary.
  • In addition, 9% employer super contributions will be paid to your super fund.
  • Total benefit up to $20,000 per month
Paid for by Oracle. Additional cover can be bought in units. Each unit of cover is $5 per month although the fee is subject to change. This fee is deducted from your Employer Account in the Plan.
Perpetual WealthFocus Superannuation Fund
Unlimited
$5 million
  • $40,000 monthly benefit.
  • For amounts insured above $30,000, the monthly benefit will revert to $30,000 after two years of receiving a benefit
Premium is based on various factors e.g. age, gender etc. Premium tables can be found in PDS.
Perpetual’s Select Superannuation Fund
Unlimited
$5 million
$30,000 monthly benefit.
Premium is based on various factors e.g. age, gender etc. Premium tables can be found in PDS.
Pitcher Retirement Plan
All members are provided with death and TPD cover of at least
$100,000 on a limited cover basis.
All members are provided with death and TPD cover of at least
$100,000 on a limited cover basis.
75% of your salary at disablement
Premium is based on various factors e.g. age
Plum Superannuation Fund
Unlimited
$5 million
$50,000 per month
Premium is based on various factors depending on factors such as the amount and type of cover you choose, and in some cases your age and sex. Premium tables can be found in PDS.
Prime Super
Lump sum
Lump sum
Provides a regular income of up to 85% of your monthly salary
(if your cover exceeds 75% of your salary, up to 10% is paid to
Prime Super as a superannuation contribution).
  • Death only insurance (including Terminal Illness) costs $0.74 per unit per week ($0.87 gross).
  • Death & TPD insurance costs $1.11 per unit per week ($1.31 gross).
  • Income Protection insurance costs can vary depending on the level of cover, your age, gender, occupation and

the waiting period you select

Public Sector Superannuation Accumulation Plan (PSSap)
Lump sum
Lump sum

The maximum income protection cover provided (without underwriting) is up to $15,000 per month depending on your income for lifePLUS auto cover.

Premium is based on various factors. You can choose age based cover or fixed cover.
Public Sector Superannuation Scheme (PSS Scheme)
Lump sum
Lump sum

The maximum income protection cover provided (without underwriting) is up to $15,000 per month depending on your income for lifePLUS auto cover.

Premium is based on various factors. You can choose age based cover or fixed cover.
Qantas Superannuation Plan
$10 million
$3 million
n/a
  • Your annual insurance premium is calculated by applying a premium rate for every $10,000 of Voluntary Cover you have.
  • The premium rate used depends on your age last 1 July and your occupational group rating.
Rei Super
$2.08 million (Both TPD and Death combined)
$2.08 million (Both TPD and Death combined)
The lesser of 85%
of your pre-disability salary or $20,000 per month
  • $1.50 per week for death and TPD
  • $0.75 per week for death
  • Income protection premium based on a variety of factors
Russell Supersolution Master Trust
Calculated by various factors (age)
Calculated by various factors (age)
75% of salary
  • $4.02 per week for death
  • $8.50 per week for TPD
  • Premium based on a variety of factors
Smartsave ‘Member’s Choice’ Superannuation Master Plan
$10 million
$3 million
75% of your normal salary or wage and 9.5% superannuation (or $30,000 per month)
  • $3.73 per week (Death and TPD)
  • Income protection based on a variety of factors
Statewide Superannuation Trust (Statewide Super)
Calculated by various factors
lump sum
Calculated by various factors
lump sum
The lesser of
  • $30,000 per month and
  • 85% of your pre-disability salary (75% being paid to you and 10% being paid into your Statewide Super account )
  • $1.624 per week (Life and TPD insurance)
  • Income protection Premium is based on various factors
The Bendigo Superannuation Plan (run by Bendigo Bank)
Unlimited
$5 million

The lesser of:

  • The benefit accepted by the insurer
  • 75% of your income plus super contribution benefit (up to 10%) or
  • $30,000 per month.
  • $1 per unit per week (TPD and Death)
  • Income protection premium is based on various factors
The Executive Superannuation Fund
$5 million
$3 million

The Lesser of:

  • 75% of earned income or
  • $30000 per month.
  • $0.242 per week (Death only)
  • $0.492 per week (Death and TPD)
  • Income protection Premium is based on various factors
Unisuper
Unlimited
$3 million
$29,900 per month (or 69 units)
  • $1.68 per unit per week (Death and TPD cover)
  • $1.03 per unit per week (Death only)
  • $0.85 per unit per week (TPD only)
  • Income protection premium is based on various factors
Victorian Superannuation Fund (VicSuper)
Unlimited
$5 million
$30,000 per month
  • $1.07 per unit per week (Death and TPD cover)
  • $0.39 per unit per week (Death Only)
  • Income protection premium is based on various factors
WA Local Government Superannuation Plan (WA Local Super)
Unlimited
$3 million
  • $25,000 per month or
  • 75% of Insured Salary
  • $0.55 per unit per week (Death Only)
  • $1.00 per unit per week (Death and TPD)
  • Income protection premium is based on various factors
Alcoa of Australia Retirement Plan
Defined by various factors
Calculated as (days counting down as fractions of a year x 20.5% x your base salary) + your total account balance at the date of death or disablement (less any fees, including the withdrawal fee).
Defined by various factors
Calculated as (days counting down as fractions of a year x 20.5% x your base salary) + your total account balance at the date of death or disablement (less any fees, including the withdrawal fee).
Calculated by various factors
Calculated as (days counting down as fractions of a year x 20.5% x your base salary) + your total account balance at the date of death or disablement (less any fees, including the withdrawal fee).
Premium is based on various factors
AMG Super
Unlimited
$3 million
75% of income up to 2 years
Premium is based on various factors
AMP Retirement Trust
No maximum
$5 million
Up to 75% of the first $320,000 of your annual income, plus
Up to 50% of the next $240,000 of your income
Premium is based on various factors
AMP Superannuation Savings Trust
No maximum
$5 million

Not stated

Premium is based on various factors
ANZ Australian Staff Superannuation Scheme
$7 million
$3 million
Not stated
The standard annual premiums for death and TPD cover currently range from $0.31 to $13.11 per $1,000 cover.
The premium you actually pay will depend on your age and the level of cover you take.
ASGARD Independence Plan Division Two
Maximum based on various factors including the size of your super plan
Maximum based on various factors including the size of your super plan

Maximum based on various factors including the size of your super plan

Premium is based on various factors

Australia Post Superannuation Scheme
Calculated based on salary and years to retirement
Calculated by various factors

n/a

Premium is based on various factors

Austsafe Superannuation Fund (AustSafe Super)
$5 million
$3 million
Lesser of:The monthly equivalent of 75% of your income (plus up to
10% in superannuation contributions), and

The maximum applicable monthly benefit of $30,000 per
month.

Premium is based on various factors

Avanteos Superannuation Trust (run by Colonial First State)
$5 million
$3 million
85% of your before-tax monthly income (including up to
10% for superannuation contributions), up to a maximum
of $25,000 a month.
Premium is based on various factors

Beacon Superannuation Plan
$5.5 million
$3 million
$30,000 per month
Premium is based on various factors
BT Lifetime Personal Super
$3 million (Death and TPD)
- $3 million (Death and TPD)

n/a

Premium is based on various factors
Combined Super Fund
Calculated by various factorsLump Sum Amount

Depending on the benefit design your employer has selected. "

Calculated by various factors

Lump Sum AmountDepending on the benefit design your employer has selected. "

The benefit payable is 85% of your pre-disability salary paid monthly (75% to you and the remaining 10% contributed to your Fund account) after a 90 day waiting period.
Premium is based on various factors
Concept One The Industry Superannuation Fund$3 million (Dealth and TPD)

$3 million (Dealth and TPD)

n/a

$2 per unit per week (Death and TPD cover)$1 per unit per week (Death)
CSS Fund (Commonwealth Superannuation Scheme Fund)
Calculated by various factors
n/a

n/a
Premium is based on various factors

Dow Australia Superannuation Fund
$5 million (Death and TPD)
$5 million (Death and TPD)
n/a
Basic insurance cover is provided
at no cost to you and will continue
for as long as you are an employee of
the Company, under age 65, and the
Company is making Superannuation
Guarantee contributions for you
(to this Fund or another fund of your
choice).
e-Clipse Super
Unlimited
$5 million
$30,000 per mont
Premium is based on various factors
EmPlus Superannuation FundCalculated by various factors

$86,000 (Age - 26 – 45, - 1 Unit, Death & TPD Cover )
Calculated by various factors

$86,000 (Age - 26 – 45, - 1 Unit, Death & TPD Cover )
n/a

$4.10 two units per week (Death and TPD cover, Up to age 64)$2.06 two units per week (Death, From age 65 to 69,)
Energy Industries Superannuation Scheme-Pool ACalculated by various factors

lump sumThe level of Default Cover you receive will be based on your
age next birthday and the amount ranges from $332,000 at
age 40 to $8,000 at age 70

Calculated by various factors

lump sumThe level of Default Cover you receive will be based on your
age next birthday and the amount ranges from $332,000 at
age 40 to $8,000 at age 70

n/a

Default Cover is between $6.04 per month to $111.20 per month (4 units of cover)
Energy Industries Superannuation Scheme-Pool BCalculated by various factors

lump sumThe level of Default Cover you receive will be based on your
age next birthday and the amount ranges from $332,000 at
age 40 to $8,000 at age 70

Calculated by various factors

lump sumThe level of Default Cover you receive will be based on your
age next birthday and the amount ranges from $332,000 at
age 40 to $8,000 at age 70

n/a

Default Cover is between $6.04 per month to $111.20 per month (4 units of cover)
Energy Super
$10 million
$3 million
For the first 120 days after the waiting period, the actual benefit

payable will be the lesser of:
• 90% of your Income; or
• the level of cover you received automatically or applied for.For the remainder of the benefit period, the benefit will be reduced
to the lesser of:
• 80% of your Income; or
• the level of cover you received automatically or applied for

$0.99 per unit per week (Death and TPD cover)$0.65 per unit per week (Death and TPD cover)
Fire and Emergency Services Superannuation Fund (FES Super)Calculated by various factors

$89,500 (16 to 30, TPD & Death)
Calculated by various factors

$89,500 (16 to 30, TPD & Death)
75% of your monthly income

$1.27 per unit per week (Death and TPD, Administration)
$0.83 per unit per week (Death, Administration)$3.81 per unit per week (Death and TPD, Fire Fighter)
$2.48 per unit per week (Death, Fire Fighter)
Health Employees Superannuation Trust Australia (HESTA)
$5 million
$3 million
$25,000 per month capped at 85% of your predisability income$425 per month, $2.06 per unit per week (Income Protection) (Per week ($1.75 net))
$1.09 per unit per week (Death) (Per week ($0.93 net))
$1.47 per unit per week (TPD) (Per week ($1.25 net))
HOSTPLUS Superannuation Fund
Unlimited
$5 million
You can apply for cover of up to 90% of your monthly pre-disability salary (where, in the event of a successful claim, 75% of your monthly pre-disability salary is paid to you and 15% of your monthly pre-disability salary is paid into your account with Hostplus), capped at $30,000 per month
$0.26 per unit per week (Death Only (including Terminal Illness))
$0.67 per unit per week (Death (including Terminal Illness) & Total and Permanent Disablement)
$0.41 per unit per week (Total and Permanent Disablement only)
Intrust Super Fund

2 units (Death and TPD)
2 units (Death and TPD)

$50,000 per month
$2.55 per unit per week (Death and TPD cover)
$1.07 per unit per week (Death)
0.70% of your income (Income Protection Insurance –
PayGuard Insurance)
NESS Super
$5 million
$3 million
$25,000 per month.
$2.62 per week (2 units at $1.31 per unit) (Death)
$3.52 per week (2 units at $1.76 per unit) (TPD)
$2,400 per month (2 units of cover at the cost of $1.32 per week.) (Default Temporary Salary Continuance (TSC))
Netwealth Superannuation Master Fund
$10 million (consideration by
the insurer) (Death and TPD)
$10 million (consideration by
the insurer) (Death and TPD)
The lesser of:
• 75% of your income (plus an additional 10% to be paid
directly to your superannuation account as
contributions); or
• $30,000 per month; or
• the amount insured
Premium is based on various factors
Praemium SMA Superannuation FundThe premium you need to pay will depend on certain factors including your age, gender, smoking status, sum insured, medical history, occupation, and premium payment frequency
Queensland Independent Education & Care Superannuation Trust (QIEC Super)
$5 million
$2 million
- $25,000 Per month- The maximum benefit payable cannot exceed 95% of your pre-disability income, inclusive of a 15% superannuation contribution to your member account.

Total & Permanent Disablement Benefit provided TPD insurance costs only $1.82 per unit per week. Each unit of insurance provides the following TPD cover (age dependent).Death Insurance Death insurance costs only $1.56 per unit per week. Each unit of insurance provides the following death cover (age dependent)
Reserve Bank of Australia Officers Superannuation Fund
Calculated by various factors: Your default death or TPD insured amount is
calculated as 10 per cent x future service from your
date of death/TPD to age 70 x your Base salary (as
determined by your employer).
Calculated by various factors: Your default death or TPD insured amount is

calculated as 10 per cent x future service from your
date of death/TPD to age 70 x your Base salary (as
determined by your employer).
$0.67 to $83.99 per $1 000 sum (For Both TPD and Death)
Retail Employees Superannuation Trust (REST)
Unlimited
$5 million ($1 million if you’re over age 65)
$30,000 per month
Premium is based on various factors
Rio Tinto Staff Superannuation Fund
$5 million
$3 million
Premium is based on various factors
State Public Sector Superannuation Scheme (Qsuper)
Calculated by various factors
Lump sum
Calculated by various factors
Lump sum
75 per cent of your salary
Lump sum
There are no premiums for this insurance and it can’t be cancelled.
Sunsuper Superannuation Fund
Unlimited
$3 million
You can cover up to 85% of your incomeOPT IP ($5,000)
Tailored IP ($30,000)

Premium is based on various factors
TAL Superannuation and Insurance Fund
$1 million
$1 million
The maximum Benefit Amount
we will pay is limited to the lesser of either $10,000 per month or 75% of your Monthly Income, less
any Adjustments and Offsets.
Premium is based on various factors
Tasplan Superannuation Fund
$5 million
$2 million
Maximum cover of up to 85% of your
salary, up to $20,000 or $25,000 each
month depending on your chosen
benefit period.
Premium is based on various factors
Telstra Superannuation Scheme
Unlimited
$5 million
Payments are subject to maximum cover limits
of $50,000 per month for a two year benefit period and
$30,000 per month for a five year benefit period
Premium is based on various factors
The ARA Retirement Fund Can't find the benefit limits
The Portfolio Service Retirement Fund (run by IOOF)
Unlimited
$3 million
The Lesser of:
• 85% of your salary (75% of your Earned Income and
up to a 10% Superannuation Contribution Benefit); or
• $30,000 per month
Premium is based on various factors
The Victorian Independent Schools Superannuation Fund (VISSF)
Unlimited
$5 million
The Lesser of:
• 75% of Salary plus an
agreed percentage up to a
maximum of 13% payable
as a Superannuation
Contribution;
• the Monthly Benefit; and
• $25,000 per month
$0.64 per week (Death only)
$1.15 per week (Death and Total and Permanent Disablement)
$1.37 per week (Income Protection)
Tidswell Master Superannuation Plan
$5 million
$3 million
Up to 85% of income to a
maximum monthly payment
of $30,000 (In the event of
a claim, 75% is paid as
income and 10% is paid as
a superannuation
contribution)
Premium is based on various factors
Toyota Australia Superannuation Plan
$10 million
$3 million
n/a
Premium is based on various factors
Toyota Employees Superannuation Trust (Toyota Super)
$10 million
$3 million
n/a
Premium is based on various factors
TWU Superannuation Fund
$10 million
$2.5 million
Lessor of:
• 84.5% of your pre-disability income, or
• your agreed value of income protection cover, or
• $30,000 per month.
Premium is based on various factors
Ultimate Superannuation Fund
$5.5 million
$3 million
$30,000 per month
Premium is based on various factors
United Technologies Corporation Retirement Plan
Unlimited
$5 million
n/a
Premium is based on various factors
Virgin Superannuation
$5 million
$2 million
Lesser of 1/12 of 75% of Salary and $30,000 per month, up
to a maximum of two years.
Premium is based on various factors
Water Corporation Superannuation Plan
Unlimited
$3 million
$30,000 per month
Premium is based on various factors
Worsley Alumina Superannuation Fund
Unlimited
$3 million
n/a
Premium is based on various factors

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Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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