Salary Continuance insurance

Insurance for Salary Continuance is designed to provide a monthly income if you are totally or partially disabled due to illness or injury and unable to work.

You can apply for cover of up to 85% of your monthly pre-disability salary (for up to a maximum of $30,000 per month), in which case 75% is paid to you and 10% is paid into your super account. 

You choose a Waiting Period of either 30, 60 or 90 days and you also choose a Benefit Period of two years, to age 60 or to age 65.

All insurance provided to members of legalsuper is provided under insurance policies issued by OnePath Life Limited.

Understanding Waiting Periods 

A Waiting Period is the number of consecutive days you are Totally or Partially Disabled and that must elapse before any Salary Continuance benefit is payable. The Waiting Period commences on the day a medical practitioner examines you and certifies that you are Totally Disabled.

legalsuper offers members a choice of three Waiting Periods: 30, 60 or 90 days. No benefits are payable during the Waiting Period. The Waiting Period that applies is the Waiting Period that you have been accepted for. During the Waiting Period, you can return to work, for up to five days, without having to start a new Waiting Period. If this occurs, the days worked will be added to your Waiting Period.

Understanding Benefit Periods

In your application for cover, you will need to select the Benefit Period that applies to your cover. The Benefit Period is the length of time that you may continue to receive a benefit payment if you are totally or partially disabled due to illness or injury and unable to work. Your Benefit Period will be determined by the choice you made in your last application for Salary Continuance insurance which was approved by the insurer. Members can choose either the standard Benefit Period or from two optional Benefit Periods.

1. Standard Benefit Period

The standard Benefit Period is a maximum of two years. Benefit payments will not be made beyond age 65. 

2. Optional Benefit Periods

The optional Benefit Periods have higher insurance fees.

Members can choose from the following options:

• Monthly benefits payable to age 60

• Monthly benefits payable to age 65. 

If your Benefit Period is to age 60 or to age 65, the amount of your monthly benefit will be adjusted according to an escalation factor. Twelve months after a Total or Partial Disability benefit has been continuously paid, your monthly benefit will be increased by the lesser of:

• the annual CPI increase; and

• 5%.

Your monthly benefit will not decrease if the percentage change in CPI is negative.

What does Salary Continuance insurance cost?

The insurance fee for Salary Continuance insurance is issued in units of cover. Each unit of cover provides Salary Continuance insurance of $100 per month. Any calculation of units will be rounded up. Insurance fees will be deducted from your account on a monthly basis in arrears. The insurance fee is determined by your gender, age and your choice of Waiting Period and Benefit Period. 

Applications are subject to acceptance by the insurer (OnePath Life Limited).

*OnePath Life Limited does not offer Salary Continuance insurance cover for all occupations.  Please check the list of occupations if you are not employed in a 'white collar capacity'.