Peace of mind that your loved ones are financially secure if the worst happens
On first joining Club Super with a Club Super employer, you will automatically receive Death insurance cover.1 Members aged up to 24 will receive 1 unit of Death cover, and members aged 25 to 69 will receive 2 units of Death cover. This level of cover is known as the default level of insurance cover. If this default level of cover is not enough, you can apply for up to 3 units, subject to the successful completion of five short health questions, and completion of a Member Application Form, provided you join the Fund within 6 months of commencing employment.
Features and benefits
- Death cover will pay a lump sum to your dependants in the event of your death
- Apply for cover of up to $5 million
- A choice of unit based or fixed amount cover
- A terminal illness benefit
Death insurance costs only $2.01 per unit per week. Each unit of insurance provides the following Death cover (age dependent):
||Death insurance benefit|
|Up to 39
|40 - 44
|45 - 49
|50 - 54
|55 - 59
|60 - 64
|65 - 69
If you have Death insurance cover with Club Super and you are diagnosed with a terminal medical condition which is likely to lead to your death within 24 months, despite reasonable medical treatment, you may be eligible to claim an insurance benefit, payable before your death.
For more details on the Death cover provided and the various conditions that apply, please read the Insurance section of the current Club Super PDS and the Club Super Additional Information - Insurance in your super.
Insurance cancellation due to account inactivity
Accounts which reach 16 months of inactivity (i.e. no contributions or rollovers) after 1 July 2019 will automatically have any Death/TPD insurance on that account cancelled, unless the member advises the Fund in writing beforehand that they wish to retain their insurance cover. This requirement applies irrespective of the balance of the account. These rules do not apply to Club Super’s Income Protection insurance.
1 You’re eligible to receive this cover if you are employed with a Club Super employer and are in ‘Active Employment’; your employer makes SG contributions into Club Super on your behalf within 6 months of commencement of employment, you are at least 15 years of age and less than 70 years of age; you are not a member of any armed forces of any country; and you are not a Club Income Stream or Spouse member of the Fund. For more information who is eligible for automatic insurance cover, including the definition of “Active Employment” please read the Club Super Additional Information – Insurance in your super.