Types of cover
Death insurance provides a lump sum benefit to a member’s beneficiaries upon their death. You can apply for a maximum of $4 million of death cover.
Total and permanent disablement (TPD) insurance
TPD insurance provides a lump sum amount if you are totally and permanently disabled and can no longer work in any occupation. You can apply for a maximum of $2 million TPD cover.
Income protection insurance
Income protection insurance provides a benefit of 75% of your income if you can’t work because of temporary illness or injury. A waiting period (a choice of 30, 60 and 90 days) exists before income protection insurance is paid. The benefit is paid for a periods of two years, five years and to age 65. The waiting and benefit payment periods can be tailored to suit personal circumstances.