Insurance Cover for AvSuper’s Fire Fighter Members
Income protection insurance cover may provide a monthly payment to you if you are totally disabled due to illness or injury and unable to work. Having cover gives you time to recover without the financial stress of needing to return to work.
What income protection does AvSuper offer me?
AvSuper members can insure up to 75% of their salary plus a further 10% to continue super contributions whilst they can’t work. There are two types of Income Protection Cover available:
- short term income protection where you may get payments 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.
All members under 65 years and working at least 15 hours a week can apply for income protection cover – including heavy blue collar workers such as fire fighters. Members over 60 can only apply for short term cover.
How much cover do I get?
If you are eligible for a claim, you will receive a monthly payment in arrears after a designated waiting period.
The cover is based on units of $100 cover per month, up to a maximum of $25,000 of cover per month, so you can choose a level of cover that gives you peace of mind.
What am I covered for?
Income protection covers you for two years if, solely as a result of injury or illness, you are
- incapable of performing one or more duties of your usual occupation necessary to produce income, and
- following the advice of a qualified medical practitioner, and
- not engaged in any occupation (whether for reward or not).
Beyond two years, you must be unable to perform duties of your occupation or any other occupation for which you are reasonably capable of performing by reason of education, training or experience.
As a heavy blue collar worker, to maintain a claim beyond five years, you must be unable to perform at least two Activities of Daily Living* without the assistance of someone else.
For full details about AvSuper income protection, please refer to the AvSuper member insurance guide or call our Member Advice Consultants for assistance in choosing how much cover suits your needs.
*As defined in our insurance guide
How much does it cost?
The cost of your income protection will depend on how much cover you want, your age and your occupation class. Fees are calculated weekly and deducted from your super account at the end of each month.
A single unit of cover provides $100 per month and is the basis of the fee table below. To calculate your annual fee, you will need to decide whether you want short or long term protection and what waiting period suits you.
As an example, if you decide on long term cover with a 90 day waiting period, you need to find the unit price for your age in the forth column in the table. So if you are 30, it will cost you $10.42 per unit as a heavy blue collar worker as highlighted in green on the table.
Simply multiply the cost per unit by the number of units (cover divided by 100) you want and that is your annual insurance fee.
So if you earn $80,000 pa, you can get income protection cover of $80,000 × 75% = $60,000 pa or $5,000 per month which will cost:
→ $10.42 per unit × ($5,000/100 units) = $10.42 × 50= $521 a year.
If however, you are 45 years old and want short term cover of $8,000 a month with a 30 day waiting period, your unit price would be $24.58 (as highlighted in orange on the table) and your fee would be:
→ $24.58 per unit × ($8,000/100 units) = $24.58 × 80 = $1,966.40 per year
You can use our insurance fee calculator to get an estimate of fees applicable to you.
Income Protection Insurance Cover Fees
The following table shows the annual fee rate per unit ($100 monthly benefit) for heavy blue collar members such as firefighters.
| 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 | $8.30 | $17.84 | $3.02 | $7.70 | $2.56 | $6.56 |
| 16 | $8.30 | $17.84 | $3.02 | $7.70 | $2.56 | $6.56 |
| 17 | $8.30 | $17.84 | $3.02 | $7.70 | $2.56 | $6.56 |
| 18 | $8.30 | $17.84 | $3.02 | $7.70 | $2.56 | $6.56 |
| 19 | $8.30 | $17.84 | $3.02 | $7.70 | $2.56 | $6.56 |
| 20 | $8.30 | $18.44 | $3.02 | $7.94 | $2.56 | $6.76 |
| 21 | $8.40 | $19.06 | $3.02 | $8.22 | $2.56 | $7.00 |
| 22 | $8.54 | $19.78 | $3.02 | $8.54 | $2.56 | $7.26 |
| 23 | $8.58 | $20.50 | $3.02 | $8.82 | $2.56 | $7.50 |
| 24 | $8.74 | $21.20 | $3.02 | $9.10 | $2.56 | $7.74 |
| 25 | $8.86 | $21.86 | $3.02 | $9.10 | $2.56 | $7.74 |
| 26 | $8.98 | $22.60 | $3.02 | $9.22 | $2.56 | $7.84 |
| 27 | $9.22 | $23.52 | $3.02 | $9.40 | $2.56 | $7.98 |
| 28 | $9.46 | $24.72 | $3.02 | $9.68 | $2.56 | $8.22 |
| 29 | $9.74 | $26.10 | $3.06 | $10.04 | $2.62 | $8.54 |
| 30 | $10.14 | $27.64 | $3.20 | $10.42 | $2.72 | $8.86 |
| 31 | $10.60 | $29.40 | $3.26 | $11.00 | $2.78 | $9.36 |
| 32 | $11.12 | $31.38 | $3.34 | $11.64 | $2.86 | $9.90 |
| 33 | $11.70 | $33.44 | $3.54 | $12.46 | $3.02 | $10.58 |
| 34 | $12.28 | $35.82 | $3.78 | $13.34 | $3.22 | $11.34 |
| 35 | $12.98 | $38.36 | $3.98 | $14.44 | $3.38 | $12.28 |
| 36 | $13.86 | $41.20 | $4.22 | $15.60 | $3.58 | $13.26 |
| 37 | $14.66 | $44.18 | $4.64 | $16.98 | $3.96 | $14.44 |
| 38 | $15.60 | $47.48 | $5.04 | $18.62 | $4.26 | $15.82 |
| 39 | $16.64 | $51.00 | $5.52 | $20.46 | $4.70 | $17.40 |
| 40 | $17.60 | $54.70 | $5.96 | $22.48 | $5.06 | $19.12 |
| 41 | $18.76 | $58.72 | $6.56 | $24.86 | $5.56 | $21.14 |
| 42 | $20.10 | $63.06 | $7.18 | $27.58 | $6.10 | $23.46 |
| 43 | $21.42 | $67.62 | $8.06 | $30.64 | $6.84 | $26.04 |
| 44 | $22.94 | $72.50 | $8.86 | $34.08 | $7.54 | $28.98 |
| 45 | $24.58 | $77.72 | $9.90 | $37.98 | $8.42 | $32.28 |
| 46 | $26.32 | $83.30 | $11.12 | $42.32 | $9.46 | $35.98 |
| 47 | $28.28 | $89.12 | $12.40 | $47.16 | $10.56 | $40.08 |
| 48 | $30.32 | $95.40 | $13.90 | $52.52 | $11.84 | $44.64 |
| 49 | $32.58 | $101.92 | $15.60 | $58.44 | $13.24 | $49.68 |
| 50 | $35.06 | $108.86 | $17.52 | $64.84 | $14.90 | $55.12 |
| 51 | $37.84 | $116.08 | $19.64 | $71.86 | $16.68 | $61.08 |
| 52 | $40.88 | $123.60 | $22.06 | $79.38 | $18.76 | $67.48 |
| 53 | $44.12 | $131.46 | $24.82 | $87.38 | $21.10 | $74.28 |
| 54 | $47.76 | $139.44 | $27.84 | $95.74 | $23.66 | $81.38 |
| 55 | $51.84 | $147.32 | $31.28 | $104.14 | $26.58 | $88.52 |
| 56 | $56.28 | $142.20 | $35.00 | $98.70 | $29.74 | $83.88 |
| 57 | $61.20 | $136.54 | $39.22 | $92.90 | $33.36 | $78.98 |
| 58 | $66.78 | $123.56 | $43.94 | $86.94 | $37.34 | $73.90 |
| 59 | $72.84 | $112.48 | $49.14 | $81.96 | $41.80 | $69.66 |
| 60 | $79.62 | $54.82 | $46.60 | |||
| 61 | $87.28 | $61.14 | $51.98 | |||
| 62 | $89.84 | $64.28 | $54.64 | |||
| 63 | $75.74 | $50.08 | $42.54 | |||
| 64 | $26.14 | $15.54 | $13.20 | |||
Email: avsinfo@avsuper.com.au | Local call: 1300 128 751 | Phone: 02 6109 6888 | www.avsuper.com.au
This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about AvSuper, you should consider your own requirements and the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD). For a copy call us or visit the AvSuper website, www.avsuper.com.au. AvSuper Pty Ltd (ABN 46 050 431 797, AFSL 239078) is the Trustee of the AvSuper Fund (ABN 84 421 446 069). FS3000.5 02.2021
