Death and total and permanent disablement insurance

Pay less through super

What is it?

This insurance covers you if you can no longer work or die as the result of an accident or illness.

Death and total and permanent disablement insurance can provide financial stability, benefits and breathing space if you are injured, fall ill or die. It can ease the burden of paying bills, the mortgage, school fees and car repayments, as well as unforeseen expenses, such as medical or funeral costs.

Many families today rely on two incomes, so it’s important for both partners to be protected by insurance.

You can choose insurance cover for death and permanent disablement or death only or disablement only. NGS death cover includes cover against terminal illness.

This insurance cover costs less than you might imagine. For example: a 30-year old teacher pays just $35.66 per year for $100,000 of death and total and permanent disablement cover. The cost does not vary with gender or if you are a smoker.

How it works

The affordable premiums are deducted from your super account. If you are transferring from another fund, you can apply to transfer your insurance cover without providing medical information.

Death and total and permanent disablement insurance covers a wide range of conditions and accidental events. Claims are considered by our insurer, CommInsure and the NGS Super Trustee and successful claims are paid as a lump sum.

The amount of cover

It’s important to review your cover as your circumstances change to ensure it remains suited to your needs.

You can:

• keep the amount of insurance cover fixed – your insurance premium will rise as you get older or
• fix the insurance premium, in which case the amount of insurance cover will reduce as you get older.

Just select the type of cover you prefer on the Insurance Variation Form.

You can also apply to increase your level of cover at any time.

How to do it

• To increase your coverage, complete the Insurance Variation Form and the relevant Personal Statement in the Member Guide (PDS)
• For further information, please read our Insurance fact sheet