If you have recently changed from casual to permanent employment, did you know you become eligible for automatic Income Protection, Death, and Total and Permanent Disability (TPD) cover?
If you want insurance through super, please let us know when your employment status changes so you’re covered in the event of an injury or illness. Your balance must be at least $6,000, aged 25 or older and meet other eligibility criteria for our automatic insurance.
Income Protection cover
If you’re unable to work because you’ve become temporarily sick or injured, income protection cover helps to replace lost income during that time. Income protection payments substitute some of your wage so that you and your family isn’t a¬¬s impacted by the loss of your salary when suddenly you’re unable to work, particularly if you’re the main income-earner.
Our default income protection cover will provide insurance up to 75% of your annual salary (maximum annual salary of $128,000), with benefits payable after a 60-day waiting period, for up to two years*. The 60-day waiting period starts from the date a doctor certifies that you’re unfit for work.
Once you get default cover, you have to make sure it reflects your salary, especially when you get a payrise. When you get a payrise, for example with your Enterprise Agreement, your income protection insurance may not reflect the increase. We have an easy way to make sure your level of IP cover reflects your wage, just don’t forget to let us know so you’re adequately covered when/if you ever need it.
Death and TPD cover
Death and TPD cover is 24/7 and even if you become ill, injured or pass away overseas, your family can make a claim, even if you aren’t working at the time. The money from the claim can be used to cover medical expenses, or it can help your family to deal with ongoing expenses like a mortgage.
The automatic Death and TPD cover we provide is unit-based cover and we provide three units, when eligible. With unit-based cover, the total sum insured varies depending on your age.
Changing or cancelling cover
Default insurance cover is just a starting point and you can apply to change or cancel your cover at any time. During key life events, you can apply for more cover without providing medical evidence. Please see the Vision Super website for more details and refer to our Insurance Guide.
How to update your employment status
Please let us know if you have started working full time (or in a permanent part-time role) so we can offer the option of adding cover to your policy. If you don’t, you will unfortunately find yourself without cover.
Your employer can update your employment status by logging into our website. They can also inform us via their SuperStream files or SAFF. Vision Super will automatically update your status when the file is received if the information differs from what we have on our system.
If it’s easier for you, just send us a note to let us know your status has changed – email email@example.com
Give us a call
If you prefer to speak to someone, our Member Services phone line is open Monday to Friday 8:30am to 5pm. Just call 1300 300 820.
*Generally, members will get automatic Income Protection cover when they are in part or full time (ie non-casual) employment with a participating employer and have a balance over $6,000 and are over 25 years. However, members must (among other things) be a non-casual employee aged between 15 and 65 with a salary over $7,999 a year (not including super, before tax) to be eligible for cover.