DEATH & DISABILITY COVER |
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Death and disability are unforseen life events that we don’t like to think about. However, Death & Disability cover can help protect and provide for you and your family during times of unexpected hardship.
What is Death & Disability cover? Death cover pays a lump sum to your nominated beneficiaries* if you die or suffer a terminal illness where death is likely to occur within 12 months. Death cover can provide financial security in a time of uncertainty and can help cover debts and living expenses.
Disability cover provides you with a lump sum payment if you’re totally and permanently disabled and can’t work again in ‘any occupation’.
This depends on your assets (savings and valuables) and commitments (mortgage repayments, children’s school fees, family living costs etc). Find out how much cover you need with our Death & Disability Calculator.
What type of Death & Disability cover can I choose from? Eligible Super Saver members can choose to have Death-only or Death & Disability cover, and the style of cover that best suits your circumstances - age-based cover or fixed cover.
What is age-based cover and fixed cover? Age-based cover is based on an insurance benefit scale that determines the amount of money you will receive if you’re eligible to claim a death or disability benefit. The cost of cover remains the same regardless of your age, but the level of cover will vary according to your age.
Fixed cover lets you choose the level of cover you want in multiples of $1,000. Your amount of cover stays the same regardless of your age, but your premium will increase according to your age. You can choose to convert your unitised cover to fixed cover anytime. You will need to complete and send us insurance form 2.
Can I customise my cover to suit my needs? Yes. You can choose to have Death only cover, apply for more units of unitised cover, or convert your unitised cover to fixed cover. (You can also reduce your cover, however bear in mind that if you want to increase it again in the future, you may be required to provide medical evidence.) To customise your cover, you will need to complete and send us insurance form 2 and the Personal Statement.
Guaranteed Insurability
You must write to us within 60 days after one or more of the above events have occured, before your insurance cover expires and subject to certain other eligibility criteria.
* What is a beneficiary? Your beneficiaries are those who at the time of your death are your spouse (this includes same-sex spouse), your children, someone who relied on you for financial maintenance, or any other person with whom you had an interdependency relationship before death.
Additional Links:
For more information or to transfer your existing insurance to Vision Super, please call our friendly Member Services team on (03) 9911 3222 (regional callers 1300 300 820) or email us. |
