What is it?
This cover may provide a lump sum amount in the event you die, become terminally ill or if you are permanently unable to work.
Life and Total and Permanent Disability (TPD) cover can provide financial stability, benefits and breathing space to you and your family if you are injured, fall ill or die. It can ease the burden of paying bills, the mortgage, and other every-day living expenses, as well as unforeseen expenses, such as medical or funeral costs.
How it works
If you are under 60, you can apply through your Member Online account to have your other life cover, TPD or IP insurance cover transferred into your NGS Super Accumulation Account (subject to eligibility questions and acceptance by our insurer, TAL).
Life and disability cover insures against a wide range of medical conditions and accidental events. Claims are considered by our insurer 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.
- keep the amount of cover fixed – your insurance premium will generally rise as you get older or
- choose age-based cover in which case the amount of cover will change over time as you get older.
You can use our forms to change your insurance cover or complete requests through your Member Online account.
How to do it
See how cost-effective our Life, Disability and Income Protection cover is with our insurance quote calculator.
The key feature of our ‘needs-based’ design is that the amount of standard cover you have changes at certain ages. The Standard Cover package (while not necessarily being suitable for everyone) is designed to provide a basic level of protection throughout your working life, without your active involvement.
Standard Cover offers:
- an age-based approach for life cover, providing different levels of cover at various ages, which aims to provide appropriate cover based on ‘average member’ life stages. Life cover is lowest when you are young and automatically increases as you get older (when your need for cover may be higher), then reduces again as you approach retirement;
- Total and Permanent Disablement (TPD) and Income Protection (IP) benefits that work in conjunction with each other. Our long-term IP benefit payment period will help to meet your future living expenses, while the lump sum TPD benefit aims to provide protection for other financial costs associated with a permanent disability.
Our standard IP cover provides a monthly benefit of up to 80% of your pre-incapacity income plus up to 10% super contribution if you are unable to work due to injury or sickness for more than 90 days. You can be paid benefits for up to 5 years or to age 67 if this is earlier.
You can apply for additional cover if you need more than our age-based Standard Cover.
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. You will find out more about eligibility in our Insurance Guide.Download PDF