Death & Temporary and Permanent Disablement (TPD)

Health Super’s Death and TPD cover provides you or your beneficiaries with an insured benefit in the event that you die or become totally and permanently disabled. An insured benefit may also be paid in the event that you become terminally ill. 

unitised cover

Health Super's default Death and TPD cover is unitised. The amount of cover that each unit provides will depend on your age and reduces the older you become, however, the premium will remain the same. To see how much you could be insured for, please refer to the aged based table in Health Super's current Product Disclosure Statement.

Cover is available for:

• Death cover - up to age 70
• TPD cover - up to age 65

You can apply for as many units as you like up to  a maximum of $5 million worth of cover for Death and $2 million worth of cover for TPD. This is subject to meeting the insurer's eligibility requirements. To apply to vary the amount of insurance you have click here. 

Total and Permanent Disablement means that you:

• a) as a result of injury, sickness or disease:
  • have not performed any work for an uninterrupted period of at least 6 consecutive months solely due to the same injury, sickness or disease
  • are attending and under the regular care and following the advice of, a registered medical practitioner and have undergone all reasonable and usual treatment including rehabilitation for the injury, sickness or disease
  • after consideration of all the medical evidence and other evidence as AIG Life may require, have become incapacitated to such an extent as to render you unlikely ever to be able to engage in your own occupation and any occupation for which you are reasonably suited by education, training and experience.

OR

• b) have suffered the total and irrecoverable loss of use of:
  • both hands
  • both feet
  • one hand and one foot
  • the sight of both eyes
  • one hand and the sight of one eye
  • one foot and the sight of one eye

Only one benefit is payable and the amount payable upon permanent disablement must not exceed the insured Death benefit.

waiting period

TPD benefits can only be considered and approved by AIG Life once you have been absent from work for a continuous period of 6 months due to injury, sickness or disease. Not withstanding this, Health Super may (subject to superannuation legislation) make an early payment of the TPD at its discretion.  

cost of Death only or Death and TPD cover

The following table shows the premium cost per week for each unit of cover held.

	Cost per unit per week
Death only	$0.62
Death and TPD	$1.03

Death and/or TPD cover is available on application to Health Super Accumulation and Spouse members only (only Accumulation members receive some default cover). 

choose a level of Death and TPD insurance to suit your needs

Insurance is an important part of any financial plan. You should seek the advice of an appropriately qualified financial adviser before making any decision about changing your insurance needs.

To see how much Death and TPD cover you can apply and other important information including eligibility cover limits, cover ceasing, exclusions and benefits payable, please read the insurance section in the current Product Disclosure Statement. To apply to vary your insurance cover click here.

Any increase in cover will be subject to AIG's normal underwriting conditions.

 

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