What is Essential Super?
Bring together your super
Choose where your super gets paid
Insurance to suit your needs
When you open an Essential Super account, you’ll automatically receive Death and Total and Permanent Disability (TPD) insurance if:
Premiums will be deducted straight from your super account - so they won’t affect your take-home pay. You can easily change or cancel your cover in NetBank at any time.
Why have insurance inside super?
There may be a number of benefits to having insurance inside your super account.
Protection when you need it most
Most Australians will insure their home and car but don’t always insure their most valuable asset - themselves. Even when you’re young and healthy, illness and injury can happen.
Having insurance in place means you have some financial protection if you’re no longer able to work or you pass away.
How insurance in Essential Super works
Pays a lump sum benefit upon your death or diagnosis of a terminal illness. It could be used to:
Total and Permanent Disability (TPD)
Pays a lump sum benefit if, as a result of illness or injury, you’re unable to work again. It could be used for many purposes including:
How much cover will you get?
The amount of cover you’ll receive depends on your age. We’ll automatically adjust this amount throughout your life. When you’re younger, your cover will be lower, as you’re less likely to have high financial commitments or debt.
In the years you’re more likely to be raising a family and paying a mortgage, your cover will increase. Then as you get older and move out of this stage, your cover will reduce.
Things that might not be covered
The insurance in Essential Super has certain exclusions and conditions you need to be aware of, including pre-existing health conditions, suicide and self-inflicted injury.
A pre-existing health condition is an illness, injury or condition that existed in the three years prior to or at the time of cover commencing, recommencing or increasing. Benefits are not payable on these health conditions.
Choose the cover that’s right for you
If insurance isn’t right for you, you don’t have to have it. With Essential Super you can change or cancel your cover in NetBank at any time.
If you reduce or cancel your cover and decide you’d like insurance cover down the track or if you decide to increase your cover, you’ll need to re-apply and be approved by the insurer. You’ll need to answer health and lifestyle questionnaires.
How to make a claim
If you need to make a claim, it’s important you let us know in writing as soon as you can.
Please call us on 13 4074 for further details.
Where to go for more information
For more detailed information about the insurance available in Essential Super, including the default cover for your age group, premium rates and exclusions, please refer to the Product Disclosure Statement (PDS) and the Essential Super Reference Guide.
Fees & rates
Important Documents & Forms
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