01 MarInsurance cover through your super – what you need to know

Posted on 01 Mar 2021

Many people consider personal insurance a luxury they can’t afford, but you may already have insurance cover through your super. This cover can help to protect your future financial security, should the unexpected happen leaving you injured and unable to earn an income. The 3 most common types of insurance cover included in super are:

Death cover, Total & Permanent Disablement (TPD) cover, and Income Protection. It’s important to take some time to understand each one, know what you’re covered for and how much your cover costs. The cost of your insurance is called a ‘premium’ and is automatically deducted from your super account not your take home pay.

If you’re an AustralianSuper member, you can review your insurance cover on the AustralianSuper app, or by logging into your online account.

To read the full article please visit australiansuper.com/superannuation-articles

Sponsored by AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898. This information may be general financial advice which doesn’t take into account your personal objectives, situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement, available at australiansuper.com/pds or by calling 1300 300 273.