understanding insurance

Insurance is an important consideration and should form part of any financial plan but is one area that is often ignored. What would you do if the unexpected were to happen? That is why at Health Super, eligible members have access to affordable insurance cover. 

 

affordable cover

Taking out insurance cover on your own can be an expensive and impractical exercise. It may involve a rigorous medical examination, extensive medical forms to fill out and a high insurance premium.

Health Super has made insurance cover affordable and easy by offering a default base level of cover for members who join through a Registered Health Super Employer. This is part of a group life policy underwritten by AIG Life.

This default level of group cover does two things:

• it brings the overall cost of insurance down
• covers members up to a certain limit without having to provide medical evidence – that means no forms or medical examinations

This provision of insurance cover without medical evidence is known as Automatic Acceptance Limits (AALs). There are no upfront costs – it comes straight out of your super account, and you can even apply to increase your cover at any time. 

 

why offer insurance?

If something unexpected were to happen, your super balance may not be enough to get you through. A base level of insurance cover bridges this gap to ensure you will have enough to cope, no matter what stage of life you are at. 

 

a name you can trust

Insurance benefits are underwritten by AIG Life in accordance with a Group Life Policy agreed to between the Health Super Trustee and AIG Life. Whilst you’ll still be dealing with Health Super on day-to-day insurance matters, AIG Life will be providing the insurance (as well as taking on the risk), so that you are covered for any emergency. 

 

you’re automatically protected

See a detailed description of Health Super’s insurance cover.