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Default cover - when you join LUCRF Super
Upon joining, you are automatically allocated the following insurance^:
- Up to 64 years of age – 1 unit of Standard Fixed Premium Death & TPD cover ($2.00 per week*)
- Aged 65–69 years – 1 unit of Standard Fixed Premium Death & restricted TPD cover (for specific loss, loss of independent existence and cognitive loss only) ($2.00 per week*)
- Aged 70 and over – no insurance.
^Except if you join as a Personal Plan or Pension member, or join under a tailored workplace agreement.
*Cost of insurance is deducted directly from your super account
Automatically increasing your cover
Within 90 days from the date of your Welcome Letter, you have the opportunity to increase your insurance up to our Automatic Acceptance Levels (AALs). This means that you don’t have to answer any health questions or provide any medical evidence to automatically receive Standard Fixed-Premium insurance up to the levels outlined below:
- 4 units of Death & TPD, or
- 6 units of Death Only.
The default cover (1 unit of Death & TPD) is applied if you do not choose any insurance cover on your Member Insurance Election Form or we receive a contribution directly from your employer with no forms.
If you wish to change your insurance (outside the 90 day period), or upgrade to a higher level of cover at any time (up to $2 million), then you will need to complete a Member Insurance Election Form and a OnePath Personal Statement (if applicable). Insurance eligibility is at the discretion of the Insurer.
Personal Plan members
If you join LUCRF Super as a Personal Plan member, you are not allocated default insurance cover.
To apply for Personal Plan insurance, you need to complete two forms before any insurance cover is assessed by LUCRF Super’s Insurer.
The forms required are:
- Member Insurance Election Form – Personal Plan, and
- OnePath Personal Statement.
All applications for insurance cover for Personal Plan members are subject to acceptance from our Insurer. The Insurer may ask you for additional information or a medical assessment to support your application. Call us on 1300 130 780 if you require any assistance.
You will be notified in writing by the Fund if cover is accepted and the date from which it is effective. Insurance eligibility is at the discretion of the Insurer.
Insurance for Death, Total and Permanent Disablement or Income Protection is not currently available through our pensions. However, if you have a separate LUCRF Super accumulation account with a balance of at least $1,500, you can continue your cover or apply for insurance cover (note: age limits apply).