Types of Insurance Cover

AvSuper gives eligible 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 & Total and Permanent Disablement (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 to apply for this cover you must be under age 70.

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.

What about TTD cover?

TTD cover stands for total temporary disability cover which is only available as part of Corporate cover. When applicable, it will provide a monthly income to members unable to work due to defined illness or injury.

Interim accident cover

AvSuper provides interim cover while an insurance application is being processed. Interim accident cover applies for a death or disablement (as relevant to the cover applied for) directly resulting from an accident caused by violent, external and visible means. Note that Corporate TTD is not included in interim cover.

For income protection cover, a monthly benefit may be paid for up to 24 months for the lesser of the amount applied for or $15,000 per month.

For death & TPD cover, a benefit up to the lesser of the amount being assessed or $500,000.

Interim cover commences on the date your application is received by the insurer. It ends on the earliest of:

  • 90 days after the initial application is received by the insurer
  • the date the insurer notifies us of their acceptance terms for the cover
  • the date the insurer notifies us whether they will accept or reject the cover.

* Terms and conditions apply and costs may vary between account categories. Please refer to the  Product Disclosure Statement (PDS) for your membership division or check out our AvSuper Member insurance guide for full details including cover definitions.