Insurance cover is an effective way of providing you and your family with additional financial security in the event of illness, injury or death. Unfortunately, many Australians are at risk of being underinsured, including many with no insurance cover at all.
AvSuper provides eligible members with access* to affordable Death and Total & Permanent Disablement (TPD) and Income Protection insurance.
Why have AvSuper insurance?
- cover 24 hours a day, 7 days a week – not just when you are at work.
- insurance fees at discounted group rates, significantly less than similar insurance policies you could buy outside of super (fees may vary based on four occupation classes)
- easy payments – fees are deducted automatically from your super account
- options which allow you to increase your insurance cover at any time (you may have to provide medical information to the Insurer)
- cover available to high risk occupations, including pilots and fire fighters
- income protection cover and disability cover for heavy blue collar workers such as fire fighters at the same competitive rates
- interim accident cover applies while insurance applications are being processed.
Applying for AvSuper insurance is easy – just log into Member Online! The outcome of your application will be displayed on screen after you complete the application – in many instances, approval will be immediate. Alternatively, print off our insurance application form.
You may be eligible to transfer your associated insurance cover to AvSuper when rolling (transferring) super from your old fund.
Simply request a rollover and insurance transfer by completing a Rolling into AvSuper form. Alternatively, eRollover (via Member Online) and then complete a transfer insurance form and return it to us.
To transfer only part of the balance from your old account, please contact your old fund for instructions.
We all know that things happen and some of those things can increase the amount of insurance you and your family needs.
Eligible AvSuper members can increase their existing voluntary death and TPD cover during a major life event simply by completing a Life changes voluntary insurance form – two additional units of cover are pre-approved as our way of supporting you as you move into a new stage of your life.
Eligible events include becoming a parent, getting married, buying a house (that you will live in), getting divorced and starting a child at private secondary school.
Full conditions are explained in our member insurance guide, but please note the following:
- the additional units provided under AvSuper’s life changes cover are for accidents only in the first six months.
- the same terms and conditions (including fee rates) apply to the additional units as per your existing cover.
- you need to submit your form within 60 days of the eligible event
- you can only make one claim per life changes event
- there is a maximum of three life changes increases
All eligible (non-Corporate) members are provided with Automatic Cover to provide a minimum level of two units of our cost-effective death and disability insurance cover.
If your employer has not yet chosen AvSuper as their default super fund, your cover is provided on a Limited Cover basis for 24 months and will revert to full cover after that time as soon as you are at work.
The AvSuper member insurance guide details all eligibility rules and other terms and conditions.
You can get Corporate death, TPD and TTD cover upon commencing with your employer if you:
- are a Corporate member (ie employer by Airservices Australia or CASA)
- have all of your superannuation guarantee paid into your AvSuper account
- join AvSuper within six months of starting with your Corporate employer
The level of corporate cover is based on your age and salary – please log into Member Online to see how much cover you currently have.
Full details of our Corporate cover are in the AvSuper member insurance guide.
You can also apply for additional voluntary cover if the provided cover is not enough to protect you and your family’s peace of mind.
If you leave your Corporate employer, you can continue your AvSuper cover as part of a non-corporate account.
AvSuper’s insurance is provided by Hannover Life Re (the Insurer) ABN 37 062 395 484
*Like all insurance, AvSuper insurance is offered under a series of terms and conditions, including a full duty of disclosure. For all AvSuper insurance, you must be an AvSuper superannuation member and have an account balance of at least $1,200 or be receiving regular superannuation guarantee contributions into your AvSuper account. Contact us if you have made, or are currently eligible to make, a TPD or terminal illness claim against any super fund or life insurance or if you are are not an Australian resident to avoid paying unnecessary insurance fees. Note that members are only eligible for one death and TPD policy through AvSuper at any time. Please refer to the Product Disclosure Statement (PDS) for your membership category or check out our AvSuper Member insurance guide.