Basic Insurance Cover is the cover automatically provided to eligible members through their super fund. Here we explain how it works.
basic insurance cover
What is basic insurance and how much does it cost?
When you join the Active Super Accumulation Scheme, you are automatically provided with insurance cover for Death and Total and Permanent Disablement (TPD) when you meet eligibility. You must be at least 25 years of age and have at least $6,000 in your super account balance to be eligible for automatic insurance cover.
When you have Death or TPD cover through super, the premiums are deducted from your superannuation balance rather than your own bank account and the premiums are often cheaper as a result of group discounts.
Basic level of insurance cover is provided automatically to an eligible member when you join the Active Super Accumulation Scheme. No medical examinations are needed, meaning you get the cover immediately when you become eligible and with minimal paperwork.
You can still obtain automatic insurance cover before you become eligible. You can do so by logging in to Member Online or completing the Opt in to insurance form and return to us.
The cover you receive is tailored to the general needs and risk profiles of your age group and is a linked combination of units based on your age next birthday:
| Age next birthday | Death units | TPD units |
| 16-25 | 5 | 15 |
| 26-30 | 10 | 10 |
| 31-70 | 15 | 5 |
The cost of Basic Insurance Cover depends on your gender and the type of cover:
| Death per unit per month1 | TPD per unit per month1 | |
| Male | $0.914 | $0.475 |
| Female | $0.704 | $0.592 |
Premiums are calculated on the last Friday of the month, and the actual amount deducted depends on how many Fridays each month has. Some months contain four Fridays while others contain five, so the amount deducted from month to month varies.
From 1 July 2019, the government has introduced new legislation through the 'Protecting your Super' package. If your account becomes inactive (that is if your account hasn't received contributions for 16 consecutive months) all your insurance will be cancelled. You can ensure this doesn't happen by opting in to keep your insurance via Member Online or the Active Super mobile app. Alternatively, you can complete the Opt in to insurance form.
How much cover do I have?
The table below shows the amount of Basic Death and Basic TPD cover provided, based on your age next birthday and the standard units of cover:
| Age next birthday | Death unit value | TPD unit value | Death units | TPD units | Total Death value | Total TPD value |
| 16 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 17 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 18 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 19 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 20 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 21 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 22 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 23 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 24 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 25 | $23,000 | $23,000 | 5 | 15 | $115,000 | $345,000 |
| 26 | $23,000 | $23,000 | 10 | 10 | $230,000 | $230,000 |
| 27 | $23,000 | $23,000 | 10 | 10 | $230,000 | $230,000 |
| 28 | $23,000 | $23,000 | 10 | 10 | $230,000 | $230,000 |
| 29 | $23,000 | $23,000 | 10 | 10 | $230,000 | $230,000 |
| 30 | $23,000 | $23,000 | 10 | 10 | $230,000 | $230,000 |
| 31 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 32 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 33 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 34 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 35 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 36 | $23,000 | $23,000 | 15 | 5 | $345,000 | $115,000 |
| 37 | $21,580 | $21,580 | 15 | 5 | $323,700 | $107,900 |
| 38 | $21,580 | $21,580 | 15 | 5 | $323,700 | $107,900 |
| 39 | $21,580 | $21,580 | 15 | 5 | $323,700 | $107,900 |
| 40 | $20,140 | $20,140 | 15 | 5 | $302,100 | $100,700 |
| 41 | $18,400 | $18,400 | 15 | 5 | $276,000 | $92,000 |
| 42 | $15,540 | $15,540 | 15 | 5 | $233,100 | $77,700 |
| 43 | $12,960 | $12,960 | 15 | 5 | $194,400 | $64,800 |
| 44 | $10,660 | $10,660 | 15 | 5 | $159,900 | $53,300 |
| 45 | $8,620 | $8,620 | 15 | 5 | $129,300 | $43,100 |
| 46 | $7,480 | $7,480 | 15 | 5 | $112,200 | $37,400 |
| 47 | $6,320 | $6,320 | 15 | 5 | $94,800 | $31,600 |
| 48 | $5,180 | $5,180 | 15 | 5 | $77,700 | $25,900 |
| 49 | $4,340 | $4,340 | 15 | 5 | $65,100 | $21,700 |
| 50 | $4,020 | $4,020 | 15 | 5 | $60,300 | $20,100 |
| 51 | $3,960 | $3,960 | 15 | 5 | $59,400 | $19,800 |
| 52 | $3,760 | $3,760 | 15 | 5 | $56,400 | $18,800 |
| 53 | $3,460 | $3,460 | 15 | 5 | $51,900 | $17,300 |
| 54 | $3,140 | $3,140 | 15 | 5 | $47,100 | $15,700 |
| 55 | $2,800 | $2,800 | 15 | 5 | $42,000 | $14,000 |
| 56 | $2,500 | $2,500 | 15 | 5 | $37,500 | $12,500 |
| 57 | $2,200 | $2,200 | 15 | 5 | $33,000 | $11,000 |
| 58 | $1,900 | $1,900 | 15 | 5 | $28,500 | $9,500 |
| 59 | $1,560 | $1,560 | 15 | 5 | $23,400 | $7,800 |
| 60 | $1,260 | $1,260 | 15 | 5 | $18,900 | $6,300 |
| 61 | $1,080 | $1,080 | 15 | 5 | $16,200 | $5,400 |
| 62 | $940 | $940 | 15 | 5 | $14,100 | $4,700 |
| 63 | $780 | $780 | 15 | 5 | $11,700 | $3,900 |
| 64 | $780 | $780 | 15 | 5 | $11,700 | $3,900 |
| 652 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
| 662 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
| 672 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
| 682 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
| 692 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
| 702 | $640 | $640 | 15 | 5 | $9,600 | $3,200 |
1 An Insurance Administration fee of 1.5% of premiums is included.
2 For members age 65 and over, the 'Everyday Working Activities' definition of TPD must be satisfied to make a claim.
Need further information?
For more information, please read the Product Disclosure Statement and Insurance in your super fact sheet or contact us on 1300 547 873 between 8.30am and 6.00pm, Monday to Friday.
