The default amount you may be covered for depends on your age & account type, and eligibility.
Employer-sponsored members and default cover
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.
Default cover is provided in ‘units’ (Unitised Cover). One unit of cover costs a certain amount (this cost generally remains the same) and is worth a certain amount (the value decreases as you age). For more information on how Unitised Cover & Fixed Cover works, click here.
Employer-sponsored members receive up to four units of Death and TPD cover (without having to provide evidence of health), when commencing a legalsuper account, provided:
- they are 'At Work' when their cover commences(1);
- have joined legalsuper within 180 days of commencing work with a legalsuper employer, and;
- have had a contribution paid within 120 days.
The number of units received depends on your age at joining legalsuper.
|Age upon joining legalsuper as an Eligible Member||Default Death & TPD Cover|
|Before your 25th birthday||2 units|
|On or after your 25th birthday||4 units|
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
- convert your cover from Unitised to Fixed Cover; or
- vary the amount of your cover under the terms of the policy.
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)||$5.48|
|75-79||4 units of death cover only||$10,000 (death cover only)||$5.48|
*TPD cover ceases on an insured member's 70th birthday.
The premiums for default insurance are deducted directly from your super balance. You can increase, decrease or cancel the default cover offered.
(1) If you are not ‘At Work’ when your cover commences or have joined outside of 180 days of commencing work with a legalsuper employer, you will still receive four units of Death & TPD cover (or two units of you’re under age 25), but your TPD cover will be Limited Cover. Limited Cover will be replaced with Standard Cover at the expiry of 12 calendar months from the date your cover commenced, provided you are ‘At Work’ during that 12-month period. For more information, please refer to our publication entitled 'Employer Sponsored Super - Additional Information' (below).
What is Limited cover?
Limited Cover means you will be insured for Death cover and New Events TPD Cover, where 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 (807.54 KB)