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 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 in active employment.
Note that cover will not start until you are over 25 and your balance has exceeded $6,000 unless you elect to have cover sooner.
The Insurance Guide details all eligibility rules and other terms and conditions.
For more death and/or TPD cover or income protection cover, you can apply via AOL (AvSuper Online) or by completing a Voluntary insurance application.
Active employment means you are actively preforming all the duties and hours of your usual occupation and not receiving or claiming any income support benefits (eg workers compensation, transport accident benefits).
Limited cover means cover for an illness or injury that occurs on or after the date insurance commences (ie it does not cover pre-existing 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 AOL (AvSuper Online) to see how much cover you currently have. Note that cover will not start until you are over 25 and your balance has exceeded $6,000 unless you elect to have cover sooner.
Full details of our Corporate cover are in the 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.