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Competitive insurance cover
Our insurance cover is highly competitive:
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Premiums are based on very competitive group rates, normally lower than you would pay for individual policies.
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There are no commissions payable to advisers.
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Payment is tax-effective because premiums are deducted from your account before tax.
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Payment is easy, premiums are deducted from your account each quarter.
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You’re covered 24 hours a day, 7 days a week, not just at work.
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Cover continues while there are sufficient funds in your account to cover the cost of premiums.
What we have offered
Vision Super Saver members receive automatic lump sum death and disability insurance cover (provided your employer uses us as its default fund and you are not a casual employee).
You can also apply for additional cover to meet your personal needs.
Income protection for Super Saver members
Income protection will first be provided to Super Saver members from 1 January 2008. Cover will be provided for members who already have lump sum death and disability cover. New Super Saver members working for eligible employers will likewise receive cover from 1 January 2008.
Income protection will also shortly be available to Personal Plan members in our Vision Superannuation Fund. If you have any questions about income protection call Member Services on (03) 9911 3222 (1300 300 820 for regional callers).
Defined Benefit members
Defined Benefit members are not eligible for Income Protection, as they already have access to Temporary Total Disablement benefits
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We can help you!
If you have any questions about Income Protection, don't hesitate to call our Member Services team on (03) 9911 3222 (regional 1300 300 820). | |
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Income protection helps you and your family
What would happen if you were off work for an extended period of time and your sick pay ran out? Starting 1 January 2008, Vision Super’s new income protection provides eligible members with an income for up to 2 years if they are unlucky enough to be disabled through injury or illness. A partial disability benefit may also be paid if you have to return to work in a reduced capacity. To help you return to work, the costs of rehabilitation expenses may also be paid, in addition to disability payments.
All these features make income protection one of the most popular types of cover |
How does income protection work?
Members will be automatically provided with units of cover, up to a maximum of 10 units. Each unit of cover will provide a gross monthly benefit of $500 per month if disability occurs.
1. Standard cover
With standard cover, members are automatically insured for 75% of their salary, with benefits payable after a 90-day waiting period, subject to a maximum salary of $80,000 a year (or 10 units of cover). You can shorten the waiting period to 30 or 60 days or change your level of cover. However, you may need to provide medical evidence if changes are made after 60 days of your first receiving cover.
2. Tailor your cover to suit your needs
If standard cover does not suit your needs, you can tailor your cover to meet your personal requirements. You can insure yourself for up to 85% of your annual salary (anything above 75% is paid as a super contribution), choose to shorten your waiting period to 30 or 60 days, reduce the amount of cover, or even cancel your cover entirely if it doesn’t suit your needs.
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