The default amount you may be covered for depends on your age & account type, and eligibility.
If your employer contributes to legalsuper on your behalf, and you're not self-employed, it's most likely you'll be an Employer-sponsored member.
What is default insurance cover?
Default insurance cover is insurance cover which is automatically applied to your account without the need for you to provide any medical history or financial details. You simply start paying a premium for the default level of insurance cover that you receive.
Default insurance is dependent upon your age, which determines your number of units of cover, the cost of these units, and the sum of insurance afforded by each unit. Generally, as you get older, and for the same unit cost, your default level of insurance cover will decrease.
Not everyone is automatically eligible for default insurance cover.
You are typically eligible if you:
- Are aged 25 or older and
- Have an account balance equal or greater than $6,000 (at the date the account is created).
If I am not eligible for default insurance cover but want it, can I opt-in?
Yes. If you are under age 25 or have an account balance of less than $6,000 you can choose to have the default-levels of insurance by opting-in within 60 days of the date on your welcome letter from us. To opt-in, you must complete the election form, which asks a series of questions that must be answered to the satisfaction of the insurer.
If legalsuper does not receive the form within 60 days of the issue date stated in your welcome letter, we will not be able to provide you default cover. If you wish to apply for cover in the future, underwriting (including evidence of health) will be required.
If I am not eligible when I join, but become eligible later (i.e. my account balance reaches $6,000 and I reach age 25) do I then get default insurance cover?
Yes. Once you have satisfied the eligibility conditions, default insurance cover will automatically be applied to your account, and we will notify you in writing.
If I receive default insurance cover and don't want it, can I cancel it?
Yes, you can choose to cancel your default insurance cover at any time. There is no obligation to keep your insurance. Learn how to change your cover.
Do I pay for default insurance cover?
Yes. Insurance fees are deducted from the balance of your legalsuper account. The amount you pay for insurance depends on the level of insurance you have.
What does default insurance cover me for?
Default insurance can cover you for Death and Total and Permanent Disability (TPD). The level of cover you receive depends on your eligibility and age upon receiving default cover.
|Age upon receiving default cover||Default Death & TPD Cover|
|Before your 25th birthday*||2 units|
|On or after your 25th birthday||4 units|
*If you elect to opt-in early to receive default insurance cover.
If you are under 25 years of age and have elected to have default insurance cover, an automatic increase from 2 units to 4 units will occur on your 25th birthday unless, after joining legalsuper, you:
- cancel your Death & TPD cover (or Death Only cover if you were issued Death Only cover); or
- cancel your TPD cover; or
- reduce your cover to 1 unit; or
- increase your cover to 3 or more units by any application; or
- converted your cover from Unitised to Fixed Cover; or
- vary the amount of your cover under the terms of the policy.
Insurance fees will increase from 1 November 2020
From 1 November 2020, insurance fees will be increasing. The costs outlined below relate to the cost prior to 1 November 2020. For more information, refer to the Significant Events Notice.
The amount of cover provided by each unit depends on your age and will change as you get older.
legalsuper's default insurance cover for Employer-sponsored members:
|Current Age||Type of cover||Sum insured||Cost per week|
|Up to 24*||2 units of death & TPD||$220,000||$3.90|
|25-44||4 units of death & TPD||$440,000||$7.80|
|45-49||4 units of death & TPD||$280,000||$7.80|
|50-54||4 units of death & TPD||$200,000||$7.80|
|55-59||4 units of death & TPD||$160,000||$7.80|
|60-64||4 units of death & TPD||$80,000||$7.80|
|65-69||4 units of death & TPD||$40,000||$7.80|
|70**-74||4 units of death cover only||$20,000 |
(death cover only)
|75-79||4 units of death cover only||$10,000 |
(death cover only)
*You can only receive default Death & TPD cover if you meet the PMIF requirements immediately upon joining, or you elect to opt-in early to receive default insurance cover.
**TPD cover ceases at midnight on the day before on an insured member's 70th birthday.
The premiums for default insurance cover are deducted directly from your super balance. You can apply to cancel the default insurance cover at any time.
Default insurance cover will be either Standard Cover or Limited Cover. If an Employer-sponsored member does not receive default insurance cover immediately upon joining, or does not opt-in early to receive default insurance cover by completing an election form to the satisfaction of the insurer, the default insurance cover provided to the member at a later date will be Limited Cover (i.e. not Standard Cover).
In this circumstance, Limited Cover will continue for at least 12 consecutive months. Limited Cover will be converted to Standard Cover once the member has been At Work for 30 consecutive days immediately prior to the expiry of the 12-month period. If the member is not At Work for 30 consecutive days immediately prior to the expiry of the 12-month period, Limited Cover will continue until the member is At Work for 30 consecutive days.
Please refer to the Employer Sponsored Super & Personal Super Additional Information document to determine whether Limited Cover or Standard Cover will apply for you, and details of when default insurance cover starts.
What is Limited Cover?
Limited Cover means you will be insured for Death Cover and New Events TPD Cover. New Events TPD Cover means you are only insured for TPD caused by an illness which first became apparent to you, or an injury that occurred, on or after the date your cover started or restarted under the current policy.
What is Standard Cover?
Standard Cover is cover for any illness or injury you suffer where cover is not affected by the date the illness becomes apparent or the injury occurs to you.
For more information refer to the below Product Disclosure Statement:Additional Information, Employer Sponsored & Personal Super - Product Disclosure Statement (710.34 KB)