You are your biggest asset
While most of us insure our homes and cars, we forget about the most important thing of all - our ability to earn an income.
Cover can offer you a financial safety net and peace of mind. So, if something did happen, you have financial backup in place to take care of yourself and your family.
Life and Disability Cover
This cover may provide a lump sum amount in the event you die, become terminally ill or if you are permanently unable to work.Find out more
Income protection cover provides you with an income if you are temporarily (or permanently) unable to work due to illness or injury. Many families today rely on two incomes, so it’s important for the incomes of both partners to be protected by insurance.Find out more
Making a Claim
In the event that you may be eligible to make a claim on your insurance, please call us on 1300 133 177. We will help you through the process and will provide you with a designated claims officer who will be in regular contact with you.Find out more
Super affordable - we buy insurance at wholesale rates
Some cover may be automatically included as standard with your NGS Super Accumulation account for eligible members when joining. But as your life changes with new financial commitments, like a mortgage and school fees, you may need to reassess your level of cover. You can apply to increase your cover at any time, or choose to reduce or opt out of cover.
When comparing NGS Super’s insurance cover with other types of insurance that you may have, like home or car insurance, it is a small price to pay for protecting your most important asset…you…
Insurance in Superannuation Voluntary Code of Practice
The Insurance in Superannuation Voluntary Code of Practice (the Code) came into effect on 1 July 2018. The code sets out high standards that will provide greater understanding, clearer accountability and consistency of delivery for insurance to members across the superannuation industry.
NGS Super accepts in principle elements of the Insurance in Superannuation Voluntary Code of Practice and will adopt or adapt as appropriate elements of the Code which are in line with NGS Super members’ best interest and needs.
Transition statement as at 31 December 2018
We note that the proposed changes to insurance as part of the 2018 Federal Budget have not been legislated and we have taken this into consideration in our discussions with our insurer and administrator as we work closely with them on what is required to transition to the appropriate elements of the Code.
We expect that any relevant changes to benefit design, administrative processes and member information to be in place by July 2020 and appropriate procedures relating to ceasing of cover, reinstatement and refunds to be implemented by January 2021.