Types of AvSuper insurance
AvSuper gives all members three types of voluntary insurance cover to choose from, all at competitive rates and adjustable to suit your needs.
Death only cover
Death only insurance cover provides you with peace of mind that your family and dependants will be financially cared for if you die. You can nominate as many units as you wish while you are under age 70, even if you have retired or are not working.
Death & TPD cover
Combining TPD cover with your death cover means you may receive a lump sum payment if you become totally and permanently disabled or your dependants may receive a benefit in the event of your death.
You can nominate as many units as you wish up to a maximum TPD cover of $3,000,000. To be eligible for this cover you must be under age 65.
Income protection cover
Income protection cover may provide a monthly payment to you if you are temporarily totally disabled due to illness or injury and unable to work. The amount of cover is 75% of your salary. You can also protect your super savings by insuring 10% of your salary for super contributions while you can’t work.
There are two types of Income Protection Cover available:
- short-term income protection where you may get payments for one disability for a maximum period of 2 years or the period to age 65 (whichever is shorter)
- long-term income protection where you may get payments up to age 60.
Note that any income protection payments made to you do not reduce any TPD cover you may have.
Corporate and automatic insurance cover
If you are a Corporate member and/or your employer has chosen AvSuper as their default super fund, you will automatically be given life insurance cover from the day you start employment. Please refer to your PDS for details of the cover provided.
You can also apply for voluntary cover if the provided cover is not enough to protect you and your family's peace of mind.