Insurance Fees

more info from AvSuper iconThe information on this web page forms part of the AvSuper Product Disclosure Statement (dated 1 February 2017) and AvSuper Corporate Product Disclosure Statement (dated 1 February 2017). Please refer to your PDS and our AvSuper Member insurance guide and/or member investment guide for more information.

The following tables and information outlines the fees and amount of cover provided by AvSuper insurance cover as described in our member insurance guide.

Please select the relevant tab below for the type of cover you are interested in.

 

Important notes about insurance fees 

  • Insurance fees are calculated weekly 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.

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 and Income Stream 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 annual 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 $40.67
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.

Live Chat Support Software

Phone 1800 805 088 (Free call)
Email:
avsinfo@avsuper.com.au