Death and TPD

LUCRF Super offers two types of Death & TPD and Death Only cover:

• Fixed Premium, and
• Fixed Amount.

Fixed Premium

This is where the premium (cost) of your insurance is set at a fixed cost per unit. Whilst the premium remains the same, the total insured amount will reduce as you age.

The premium is charged for each unit of insurance that you receive. This cost is maintained at $2.00 per week (per unit) for Death & TPD, and $1.00 per week (per unit) for Death Only insurance.

The amount of cover you can apply for depends on the the type of work you do. The work categories available are Standard or White Collar.

Fixed Amount

This type of cover enables you to apply for a specific dollar amount of insurance that suits you. The premium is charged per $1,000 of cover you receive.

The type of work you do will determine if your premiums are applied at the Standard or White Collar rate. Whilst the amount of cover is fixed and does not change, the premium you pay will increase as you age.

PLEASE NOTE: You must be under the age of 60 to apply for Fixed Amount cover.

Work categories

To reflect the various risks associated with the different jobs people do, there are two work categories: Standard and White Collar.

Standard

For members in traditional blue collar roles, whose work includes some degree of manual labour usually conducted outside an office environment.

White Collar

Where the duties of your occupation are limited to professional, administrative, clerical, secretarial, or similar deskbound (sedentary) tasks that do not involve manual work and are undertaken entirely (or at least 80%) within an office environment.

* Restricted to specific loss, loss of independent existence and cognitive loss only for members aged 65 to 69 years.