Insurance cover is an effective way of providing you and your family with financial security in the event of illness, injury or death. Unfortunately, many Australians are at risk of being underinsured, including many with no insurance cover at all.
Why have AvSuper insurance?
AvSuper provides members with access* to affordable Death and Total & Permanent Disablement (TPD) and Income Protection insurance. Cover is provided 24 hours a day, 7 days a week – not just when you are at work.
These insurance policies may provide a substantial financial benefit to your dependents in the event of your death, or directly to you if you become totally and permanently disabled. Insurance cover through your AvSuper account provides:
- Death and Total & Permanent Disablement (TPD) cover* based on your age and occupation (based on four occupation classes)
- insurance premiums at discounted group rates, significantly less than similar insurance policies you could buy outside of super
- easy payments – premiums are deducted automatically from your super account
- options which allow you to increase your insurance cover at any time (you may have to provide medical information to the Insurer)
- optional income protection cover, including for heavy blue collar workers such as fire fighters
- pre-approved cover increases with major life events such as becoming a parent or buying a new home
- the option to transfer* existing cover when you roll your retirement savings into AvSuper
* Terms and conditions apply