The AvSuper Trustee regularly reviews the Fund’s group life insurance arrangements to ensure that they remain appropriate, providing superior insurance benefits to our members that also represent good value for money. As part of our most recent review, the Trustee has successfully negotiated a number of enhancements to our current arrangements.
Most importantly, unlike some other super funds that have recently increased the cost of their insurance, AvSuper has been able to maintain our current pricing while also providing additional insurance benefits to many AvSuper members.
Improvements to AvSuper insurance
With effect from 1 November 2013, some of the key improvements include:
* there will be no increases to the cost of insurance cover
* Many members with Death & Total and Permanent (TPD) insurance cover will now receive a higher level of cover (per unit of cover) at no additional cost
* TPD cover is now available for eligible members who are employed as professional pilots, an employment category which historically has struggled to obtain such cover, whether inside or outside of super
* TPD cover will now continue for longer for eligible older members (up to age 70, previously age 65)
During November 2013, the Trustee is also introducing an online insurance application tool through Member Online, which will make it even easier for eligible members to apply for additional insurance benefits.