How insurance in super works
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How insurance in super works

Insurance through super provides peace of mind for you and your loved ones.

The insurance offered through us is affordable, flexible and is designed to offer you and your loved ones protection if the unexpected happens. 

The following types of cover are offered to our members. 


For 2019/20:

over 400 claims were accepted, and 

in excess of $25 million in benefits were paid to our members and their dependants.

 

What is default cover?

You automatically receive the default level of Death & Total and Permanent Disablement (TPD) insurance cover if you’re eligible. This default cover is:

  • 2 units of Death & TPD cover (units represent an amount of cover based on your age)
  • 'Light Blue' work category (reflects the nature of your employment)
  • a Fixed Premium amount, which means the amount you pay stays the same according to your age bracket, but the amount of cover changes as you get older.

If you’re between 65 and 69, you receive restricted TPD cover. Insurance cover is not provided to anyone over 70.

When does automatic default cover start?

Default cover automatically starts for eligible members as soon as: 

  • we receive a Super Guarantee (SG) contribution from your employer 
  • you’re 25 or over (and under 70), and 
  • your account reaches a balance of $6,000 or more. 

Default cover will only automatically start if you haven't had insurance on your account before.

However, you can elect to start default cover when you join us by completing this form.

When does insurance cover end?

Your insurance cover will end when:

  • your account is inactive for 16 months (e.g. no money is paid into your account) and you haven’t told us that you’d like your insurance to continue
  • your account balance is too low to pay for insurance premiums
  • you turn 70
  • you cancel your insurance or cease to be a member.

Exclusions also apply. For example, cover will not apply for any pre-existing medical conditions.

To learn more, and about other ways in which your insurance cover could end, read our Insurance Guide.

Offers available to members

Our members can apply to:

  • increase your default cover up to automatic acceptance levels without generally having to provide medical evidence. You must apply within 90 days of the date of your welcome letter.
  • match the amount of your existing insurance cover held with another fund.

Insurance fees and costs

Insurance premiums are deducted from your super each quarter and are based on:

  • your age
  • your work category
  • the type and amount of cover you have.

For example, a member aged 27 with default cover and a Light Blue work category pays $2.14 per week. Default cover is 2 units of Fixed Premium Death and TPD which at the age of 27 is $100,000 worth of cover.

To learn more about how premiums are calculated read our Insurance Guide.


Types of cover

Death & Total and Permanent Disablement (TPD)

Give yourself peace of mind knowing that you or your loved ones are covered if you pass away, become totally and permanently disabled or are diagnosed with a terminal illness (as defined by our insurer). 

You may also choose just to have cover for death and terminal illness (known as Death Only). 

Income Protection

Protect yourself against those times in life you can’t predict. If you’re sick or injured, you’ll be provided with a regular income to help you get back on your feet for up to 2 or up to 5 years. You can choose between a waiting period of 30, 60 or 90 days.

How much is enough?

Use our insurance calculator to work out how much cover you need and what it covers.

Calculate now

Insurance cover is provided by OnePath Life Limited ABN 33 009 657 176 AFSL 238 341 (“OnePath”) and subject to the terms and conditions of the insurance policies issued by OnePath

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