Life and disability (TPD) cover
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What is it?
This covers you if you can no longer work or die as the result of an accident or illness.
Life and disability (TPD) cover 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 cover for life and disability, life only or disability only. Life cover also includes cover against terminal illness.
It's important to note that to qualify for a disability (TPD) benefit, you must be totally and permanently unable to work in ANY occupation - not just your OWN occupation. Cover for disability (TPD) for your OWN occupation can only be effected outside of super.
How it works
The 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.
Life and disability cover insures against a wide range of medical 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.
- keep the amount of cover fixed – your insurance premium will 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.
You can also apply to increase your level of cover at any time online via your secure Member Online account.
How to do it
See how cost-effective our Life, disability and income protection cover is with our insurance quote calculator.
- To increase your coverage, apply online through your secure Member Online account or complete the Insurance variation (increase cover) form.
- For further information, please read the Insurance Guide.
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;
- disability (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 disability (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 65 if this is earlier).
You can apply for additional cover if you need more than our age-based Standard Cover.