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Your insurance options
Insurance protects you and your family from the unexpected.
Temporary disablement, total and permanent disablement and death can cause financial stress to singles and families alike. Insurance can relieve the financial stress in these difficult circumstances and offer peace of mind for you and your loved ones. Our flexible insurance arrangements make it easy for members to pick and choose the cover that best suits them.
By having insurance through LUCRF Super, the premiums (costs) are deducted directly from your superannuation, not your bank account – so there is no need to budget for this as a separate expense.
LUCRF Super offers a range of insurance products which are summarised in the table below:
|Products||Types of cover||Work categories|
Death and Total & Permanent Disablement (TPD)
|Fixed Premium||Standard or White Collar|
|Death Only||Fixed Premium||Standard or White Collar|
Please note: Our default cover is 1 unit of Standard Fixed Premium Death & TPD.
What does it cost?
Death and TPD
The cost of your insurance covers depends on three factors:
- The product you select (Death Only or Death & TPD)
- The type of cover you choose (Fixed Amount or Fixed Premium), and
- The work category that is most suitable (Standard or White Collar).
Please refer to the Death and TPD page for more detail.
Income Protection insurance
Income Protection premiums are based on weekly rates (in dollar amounts) per $100 weekly benefit. Cost and level of cover depends upon your age, gender and occupation. This is described in further detail on our Income Protection page.
If your workplace has a tailored insurance arrangement, please contact the Fund for your specific Super Member Guide and Super Member Essentials.