Death & TPD
Know that you & your loved ones would be supported if you weren't able to return to work or in the event of you passing away.
Death and Total & Permanent disability (TPD) insurance
Death Insurance (also known as life insurance) is part of the lump sum benefits your beneficiaries receive when you pass away. TPD is a lump sum insurance benefit which is paid to you if you suffer an illness or injury that leaves you totally and permanently disabled. If you are diagnosed with a terminal illness a benefit is paid to you, which is an advance of your death benefit, provided your death cover has not ceased.
This is an introduction to Death and TPD insurance with legalsuper. For more details about your insurance, it’s important to refer to your Product Disclosure Statement.
What is Death cover?
Death Cover through super is a type of life-insurance that provides a lump-sum benefit to help with ongoing expenses and one-off costs your family may face in the event of your death or terminal illness. Death Cover is not the same as Funeral Insurance.
What is TPD cover?
Total & Permanent Disablement (TPD) cover is designed to help take the pressure off you financially if you suffer an illness or injury that leaves you totally and permanently disabled and unable to return to work. It is generally a lump sum benefit that is paid out to eliminate debts, pay for medical expenses or fund permanent lifestyle changes.
What is unitised cover?
Unitised Cover provides insurance in ‘units’ where the value of each unit is determined by your age. You pay a set price for each unit of cover you hold and as you get older the amount of cover per unit reduces but the insurance premium you pay remains the same.
What is fixed cover?
Fixed Cover means the amount of cover you choose is fixed and does not change as you get older. However, the insurance fee you pay will increase as you grow older. The insurance fee for Fixed Cover also depends on your gender and the amount of cover obtained.
What is the maximum cover I can have?
Death – no maximum applies;
TPD – up to a maximum $3 million; and
Terminal Illness – limited to $2 million (provided Death cover of at least that amount is held).
How do I pay for insurance?
The insurance fee will be deducted from your account, monthly, in arrears.
How much does cover cost?
The cost of your insurance depends on your age, gender, how much insurance you have and the type of cover.
Refer to the Employer Sponsored Super & Personal Super Additional Information booklet to find the cost.
Default cover level of Death only and Death & TPD insurance
Some members are eligible to automatically receive Death and TPD insurance without underwriting. For more information about eligibility, levels and cost of default insurance cover, read more here.