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Home Insurance Default cover Personal member

Personal member

The default amount you may be covered for depends on your age & account type, and eligibility.

If you are self-employed or substantially self-employed, you may be joining legalsuper as a Personal member.

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. 

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.

Eligibility 

Not everyone is automatically eligible for default insurance cover.
You are typically eligible if you:

  1. Are aged 25 or older and
  2. Have an account balance equal to 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 into insurance when you first open your leglasuper account. You must advise us within 60 days of the date on your welcome letter from us by completing the election form. This is sent with your welcome letter and 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 on 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.

What default insurance cover are Personal members entitled to?

Personal members may receive default insurance cover of a fixed amount of $250,000 of Death (including Terminal Illness) and TPD insurance cover. The default insurance cover is Limited Cover, subject to a Pre-Existing Conditions exclusion. 

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. 

How much will the default insurance cover cost?

The amount you are charged depends on your age and gender. You can calculate the cost here by inputting your age, gender and the amount of $250,000. https://www.legalsuper.com.au/calculators/fixed-insurance

What is Fixed Cover?

Fixed Cover means the amount of cover is fixed and does not change as you get older. However, the insurance fee you pay will be subject to increases on certain birthdays (and annual increases from your 60th birthday). The insurance fee for Fixed Cover also depends on your gender.

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.

For more information and to check your eligibility and how much default insurance cover will cost you, please refer to our Employer Sponsored Super & Personal Super Additional Information document (below).

Additional Information, Employer Sponsored & Personal Super - Product Disclosure Statement (710.34 KB) OnePath occupational guide (80.28 KB)