Insurance Fees
The information on this web page forms part of the AvSuper Product Disclosure Statement (dated 30 November 2020) and AvSuper Corporate Product Disclosure Statement (dated 30 November 2020). Please refer to your PDS and our AvSuper Member insurance guide and/or member investment guide for more information.
Please select the relevant tab below for the type of cover you are interested in.
Important notes about insurance fees
- Insurance fees are calculated and deducted from your super account at the end of each month.
- The fees shown below are gross, as required by law. However, tax rebates for insurance fees that AvSuper receives will be applied to relevant member accounts, so members generally pay up to 15% less than the gross cost shown.
- Any applicable stamp duty has been factored into all our insurance fees.
- Fees for your insurance cover may include fee loadings or exclusions applied by the insurer. Note that these loadings and exclusions will not affect any existing Automatic cover.
- The Trustee does not guarantee the rates. Any rate changes will be published on this page and you will be notified in writing.
- Members may have corporate and voluntary cover at the same time through one AvSuper account, but Automatic Cover will not apply to corporate members.
Automatic cover
All eligible* members are provided with automatic insurance cover to provide a minimum level of two units of our cost-effective death and TPD insurance cover. Fees for this cover are based on AvSuper’s voluntary cover for a light blue collar worker, by default.
Voluntary death and TPD cover
Voluntary cover is available to all eligible accumulation members, and includes cover transferred from Corporate cover.
Weekly fees (per unit of cover)
| Type of cover | Occupation class | |||
|---|---|---|---|---|
| Professional | White collar | Light blue collar | Heavy blue collar | |
| Death only | $0.34 | $0.40 | $0.57 | $1.03 |
| Death and TPD | $0.51 | $0.60 | $0.85 | $1.53 |
Value of a voluntary death or death/TPD unit at your age
| Age | Death only and Death/TPD | Age | Death only and death/TPD |
|---|---|---|---|
| 15-26 | $84,000 | 46 | $21,000 |
| 27 | $82,000 | 47 | $18,500 |
| 28 | $80,000 | 48 | $16,000 |
| 29 | $78,000 | 49 | $16,000 |
| 30 | $76,000 | 50 | $13,000 |
| 31 | $73,500 | 51 | $13,000 |
| 32 | $71,500 | 52 | $10,500 |
| 33 | $69,500 | 53 | $10,500 |
| 34 | $67,500 | 54 | $8,000 |
| 35 | $65,500 | 55 | $8,000 |
| 36 | $61,000 | 56 | $8,000 |
| 37 | $57,000 | 57 | $8,000 |
| 38 | $52,500 | 58 | $8,000 |
| 39 | $48,500 | 59 | $8,000 |
| 40 | $44,000 | 60 | $5,500 |
| 41 | $40,000 | 61 | $5,500 |
| 42 | $36,000 | 62 | $5,500 |
| 43 | $31,500 | 63 | $5,500 |
| 44 | $27,500 | 64-69 | $5,500 |
| 45 | $23,000 |
Income protection insurance cover
These fees are based on your age and occupation class. This table shows the annual fee rate per unit ($100 monthly benefit) for light blue collar workers.
Click on your age group below to view the relevant rates.
| Age | 30 day waiting period | 90 day waiting period | 180 day waiting period | |||
|---|---|---|---|---|---|---|
| Short term | Long term | Short term | Long term | Short term | Long term | |
| 15-24 | ||||||
| 15 | $4.15 | $8.92 | $1.51 | $3.85 | $1.28 | $3.28 |
| 16 | $4.15 | $8.92 | $1.51 | $3.85 | $1.28 | $3.28 |
| 17 | $4.15 | $8.92 | $1.51 | $3.85 | $1.28 | $3.28 |
| 18 | $4.15 | $8.92 | $1.51 | $3.85 | $1.28 | $3.28 |
| 19 | $4.15 | $8.92 | $1.51 | $3.85 | $1.28 | $3.28 |
| 20 | $4.15 | $9.22 | $1.51 | $3.97 | $1.28 | $3.38 |
| 21 | $4.20 | $9.53 | $1.51 | $4.11 | $1.28 | $3.50 |
| 22 | $4.27 | $9.89 | $1.51 | $4.27 | $1.28 | $3.63 |
| 23 | $4.29 | $10.25 | $1.51 | $4.41 | $1.28 | $3.75 |
| 24 | $4.37 | $10.60 | $1.51 | $4.55 | $1.28 | $3.87 |
| 25-34 | ||||||
| 25 | $4.43 | $10.93 | $1.51 | $4.55 | $1.28 | $3.87 |
| 26 | $4.49 | $11.30 | $1.51 | $4.61 | $1.28 | $3.92 |
| 27 | $4.61 | $11.76 | $1.51 | $4.70 | $1.28 | $3.99 |
| 28 | $4.73 | $12.36 | $1.51 | $4.84 | $1.28 | $4.11 |
| 29 | $4.87 | $13.05 | $1.53 | $5.02 | $1.31 | $4.27 |
| 30 | $5.07 | $13.82 | $1.60 | $5.21 | $1.36 | $4.43 |
| 31 | $5.30 | $14.70 | $1.63 | $5.50 | $1.39 | $4.68 |
| 32 | $5.56 | $15.69 | $1.67 | $5.82 | $1.43 | $4.95 |
| 33 | $5.85 | $16.72 | $1.77 | $6.23 | $1.51 | $5.29 |
| 34 | $6.14 | $17.91 | $1.89 | $6.67 | $1.61 | $5.67 |
| 35-44 | ||||||
| 35 | $6.49 | $19.18 | $1.99 | $7.22 | $1.69 | $6.14 |
| 36 | $6.93 | $20.60 | $2.11 | $7.80 | $1.79 | $6.63 |
| 37 | $7.33 | $22.09 | $2.32 | $8.49 | $1.98 | $7.22 |
| 38 | $7.80 | $23.74 | $2.52 | $9.31 | $2.13 | $7.91 |
| 39 | $8.32 | $25.50 | $2.76 | $10.23 | $2.35 | $8.70 |
| 40 | $8.80 | $27.35 | $2.98 | $11.24 | $2.53 | $9.56 |
| 41 | $9.38 | $29.36 | $3.28 | $12.43 | $2.78 | $10.57 |
| 42 | $10.05 | $31.53 | $3.59 | $13.79 | $3.05 | $11.73 |
| 43 | $10.71 | $33.81 | $4.03 | $15.32 | $3.42 | $13.02 |
| 44 | $11.47 | $36.25 | $4.43 | $17.04 | $3.77 | $14.49 |
| 45-54 | ||||||
| 45 | $12.29 | $38.86 | $4.95 | $18.99 | $4.21 | $16.14 |
| 46 | $13.16 | $41.65 | $5.56 | $21.16 | $4.73 | $17.99 |
| 47 | $14.14 | $44.56 | $6.20 | $23.58 | $5.28 | $20.04 |
| 48 | $15.16 | $47.70 | $6.95 | $26.26 | $5.92 | $22.32 |
| 49 | $16.29 | $50.96 | $7.80 | $29.22 | $6.62 | $24.84 |
| 50 | $17.53 | $54.43 | $8.76 | $32.42 | $7.45 | $27.56 |
| 51 | $18.92 | $58.04 | $9.82 | $35.93 | $8.34 | $30.54 |
| 52 | $20.44 | $61.80 | $11.03 | $39.69 | $9.38 | $33.74 |
| 53 | $22.06 | $65.73 | $12.41 | $43.69 | $10.55 | $37.14 |
| 54 | $23.88 | $69.72 | $13.92 | $47.87 | $11.83 | $40.69 |
| 55-64 | ||||||
| 55 | $25.92 | $73.66 | $15.64 | $52.07 | $13.29 | $44.26 |
| 56 | $28.14 | $71.10 | $17.50 | $49.35 | $14.87 | $41.94 |
| 57 | $30.60 | $68.27 | $19.61 | $46.45 | $16.68 | $39.49 |
| 58 | $33.39 | $61.78 | $21.97 | $43.47 | $18.67 | $36.95 |
| 59 | $36.42 | $56.24 | $24.57 | $40.98 | $20.90 | $34.83 |
| 60 | $39.81 | $27.41 | $23.30 | |||
| 61 | $43.64 | $30.57 | $25.99 | |||
| 62 | $44.92 | $32.14 | $27.32 | |||
| 63 | $37.87 | $25.04 | $21.27 | |||
| 64 | $13.07 | $7.77 | $6.60 | |||
Fees for other occupation classes are
- 60% (professional),
- 70% (white collar) or
- 200% (heavy blue collar) of the light blue collar fees.
Applicable stamp duty has been included and additional loadings may also be applicable – we will inform you if this applies to you.
- Fee example for short term income protection
- A 26 year old female heavy blue collar worker choosing cover of $4,000 a month (40 units) with a 90 day waiting period would have an annual fee of $120.80 (40 x $1.51 x 200%)
- Fee example for long term income protection
- A 33 year old man classified as white collar who chooses a 30 day waiting period for $3,000 (30 units) cover per month pays a fee of $351.12 a year (30 units x $16.72 x 70%)
Corporate Cover
This table shows the current weekly rates for each $1,000 of Corporate cover (death, TPD and TTD). Corporate cover is compulsory for Corporate members and is based on 20% of your future service (ie number of years until you turn 60) multiplied by your salary as explained in your PDS and our insurance guide.
Please note that Corporate fees only apply to Corporate members. On the day you cease being a Corporate member, voluntary cover and associated fees will apply.
| Age | Male death & TPD | Female death & TPD | Age | Male death & TPD | Female death & TPD |
|---|---|---|---|---|---|
| 15 | $0.58 | $0.26 | 38 | $0.80 | $0.67 |
| 16 | $0.58 | $0.26 | 39 | $0.86 | $0.76 |
| 17 | $0.58 | $0.26 | 40 | $0.95 | $0.87 |
| 18 | $0.58 | $0.26 | 41 | $1.08 | $1.00 |
| 19 | $0.58 | $0.26 | 42 | $1.22 | $1.11 |
| 20 | $0.56 | $0.25 | 43 | $1.39 | $1.23 |
| 21 | $0.55 | $0.25 | 44 | $1.56 | $1.32 |
| 22 | $0.52 | $0.24 | 45 | $1.75 | $1.43 |
| 23 | $0.51 | $0.23 | 46 | $1.96 | $1.57 |
| 24 | $0.51 | $0.23 | 47 | $2.20 | $1.77 |
| 25 | $0.50 | $0.23 | 48 | $2.48 | $2.00 |
| 26 | $0.49 | $0.21 | 49 | $2.77 | $2.27 |
| 27 | $0.49 | $0.22 | 50 | $3.11 | $2.58 |
| 28 | $0.48 | $0.23 | 51 | $3.47 | $2.90 |
| 29 | $0.50 | $0.23 | 52 | $3.89 | $3.25 |
| 30 | $0.50 | $0.24 | 53 | $4.32 | $3.63 |
| 31 | $0.52 | $0.29 | 54 | $4.77 | $3.96 |
| 32 | $0.55 | $0.32 | 55 | $5.21 | $4.32 |
| 33 | $0.58 | $0.35 | 56 | $5.75 | $4.68 |
| 34 | $0.63 | $0.40 | 57 | $6.37 | $5.04 |
| 35 | $0.64 | $0.46 | 58 | $7.07 | $5.41 |
| 36 | $0.68 | $0.52 | 59 | $7.84 | $5.82 |
| 37 | $0.73 | $0.59 |
Note that these fees decrease by 2% if you have income protection cover instead of TTD, and income protection fees will apply.
Fixed cover is where eligible* members can set an amount of cover and the related fee will increase as you age. These fees are based on your age and occupation class.
Annual fee per $1,000 cover, based on the Light blue collar occupation class
| Age | Death only | Death & TPD | Age | Death only | Death & TPD |
|---|---|---|---|---|---|
| 15-25 | $0.35 | $0.52 | 43 | $0.94 | $1.41 |
| 26 | $0.35 | $0.52 | 44 | $1.08 | $1.61 |
| 27 | $0.36 | $0.54 | 45 | $1.28 | $1.93 |
| 28 | $0.37 | $0.56 | 46 | $1.41 | $2.11 |
| 29 | $0.37 | $0.57 | 47 | $1.60 | $2.39 |
| 30 | $0.39 | $0.58 | 48 | $1.85 | $2.77 |
| 31 | $0.40 | $0.60 | 49 | $1.85 | $2.77 |
| 32 | $0.41 | $0.62 | 50 | $2.27 | $3.41 |
| 33 | $0.42 | $0.64 | 51 | $2.27 | $3.41 |
| 34 | $0.44 | $0.66 | 52 | $2.81 | $4.21 |
| 35 | $0.45 | $0.68 | 53 | $2.81 | $4.21 |
| 36 | $0.49 | $0.73 | 54 | $3.69 | $5.54 |
| 37 | $0.52 | $0.77 | 55 | $3.69 | $5.54 |
| 38 | $0.57 | $0.84 | 56 | $3.69 | $5.54 |
| 39 | $0.61 | $0.91 | 57 | $3.69 | $5.54 |
| 40 | $0.67 | $1.01 | 58 | $3.69 | $5.54 |
| 41 | $0.74 | $1.11 | 59 | $3.69 | $5.54 |
| 42 | $0.82 | $1.23 | 60-69 | $5.37 | $8.05 |
Fees for other occupation classes are
- 60% (professional),
- 70% (white collar) or
- 180% (heavy blue collar) of the light blue collar fees.
Additional loadings may also be applicable to some members — we will inform you if this applies to you.
- Fee example for Death only
- If a 40 year old female light blue worker wishes to have $100,000 of Death cover, each $1,000 of cover would cost her 67 cents. Total annual fee would equal $0.67 × 100 ($100,000/1,000) = $67.00
- Fee example for Death and TPD
- If a 32 year old male heavy blue worker wants $150,000 of Death and TPD cover, each $1,000 of cover would cost him 112 cents ($0.62 × 1.8). Total annual fee would equal $1.12 × 150 ($150,000/1,000) = $168.00
*Eligibility conditions include being an Australian resident and not having made nor being currently eligible to make a TPD or terminal illness claim. Age restrictions and cover cessation events also apply. Contact us if unsure of your eligibility.
