Automatic insurance protection

Eligible members that joined Health Super through a Registered Health Super Employer may be automatically provided with a default level of insurance cover (known as an Automatic Acceptance Limit or AAL).

Default cover is designed to provide you with a base level of protection against Death, Total and Permanent Disablement (TPD) and Total Disability (known as Income Protection) without having to provide any health evidence. Automatic cover is not provided to Spouse members or other members not entitled to default cover.

 

The default cover is shown below:

Age	Death units	TPD units	IP units	Total cost per week**
15-64	2	2	2	$3.30
65-70	2	0	0	$1.24

**Income Protection Cover shown is based on a 90 day waiting period.

 

The dollar amount of 2 units of automatic cover that Death only or Death and TPD cover provides, will depend on your age and reduces the older you become. To see how much you could be insured for, refer to Health Super’s current Product Disclosure Statement.

The dollar amount of automatic protection that 2 units of Income Protection provides you is $1,000 per month. This benefit can be paid after 90 days, with the option to reduce your waiting period to a 30 or 60 day waiting period (subject to the payment of higher premiums and underwriting), for up to 2 years subject to a maximum of 85% of your pre-disability income (includes 10% paid into your superannuation account as superannuation contributions).

Automatic cover will cease in some circumstances, for example where your account balance is insufficient to cover premiums for the next year.  Every year, the Trustee reviews members’ account balances to ensure that there are sufficient funds to cover premiums for the next year.  If there are insufficient funds to cover premiums we will write to you requesting that you top-up your account balance to ensure that you are covered for your current insurance arrangements for the following year.  If you do not top-up your account within 3 months your insurance cover in the Fund will cease.

Special conditions apply to employees who work for affirmative action employers or sheltered workshops.
For more information regarding Automatic Insurance please refer to Health Super’s current Product Disclosure Statement.