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.
Frequently Asked Questions
We've answered some of your most Frequently Asked Questions below.
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.
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.
Unitised Cover provides insurance in ‘units’ where the value of each unit is determined by your age. Your amount of cover and the premium you pay will change as you age.
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.
- 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).
The cost of your insurance depends on your age, gender, how much insurance you have and the type of cover. The insurance fee will be deducted from your account, monthly, in arrears.
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.
More information
Refer to the Employer Sponsored Super & Personal Super Additional Information booklet from page 33 onwards.