Eligible members will automatically receive Default Cover1 for:
- Life insurance through to age 75 if joining NGS Super prior to age 70
- Income Protection if under age 67 and
- Total and Permanent Disablement (TPD) cover if under age 65.
The Default Cover is initially based on your employer’s insurance category of either NGS Plus or NGS General. Your sum insured amount is based on your age.
1 Eligibility for Default Cover is subject to the terms and conditions in the Insurance Policy. Further details can be found in the Insurance guide.
If you are already an existing member of NGS Super, you will not be eligible for Default Cover if:
- you currently have an existing NGS Accumulation account (i.e. you are opening a second Accumulation account) or
- your Accumulation account is established due to a transfer of funds from an existing NGS Income account or NGS Transition to retirement account (regardless of whether you will have an employer that will commence making contributions to NGS Super on your behalf).
You can apply for cover by logging into your secure Member Online account or by completing an Insurance - Increase Cover form.