Life and total and permanent disablement (TPD)
Life and Total and Permanent Disablement Insurance
Statewide Super offers two types of life insurance. The choice is yours, depending on what type of cover you think you’d need.
Life and Total and Permanent Disablement (TPD) insurance
Statewide Super’s Life and TPD insurance is a combined cover. This means in the event of a claim, you can claim^ on either Life or TPD, not both.
TPD insurance pays you a lump sum if you’re unlikely to work again due to illness or injury before your 65th birthday. TPD insurance also pays you a lump sum if you’re unable to perform your activities of daily living before your 70th birthday.
Life insurance is a lump sum that can be paid to your estate or your dependants (e.g. your partner or children) in the event that you pass away before you reach 70 years of age.
Life only insurance
As its name suggests, Life only insurance covers you in the event that you pass away before you turn 70. Your estate or dependants will receive a lump sum to help them after you’re gone.
Did you know that you may be eligible to receive early payment of your Life Insurance? If you become terminally ill, with a life expectancy of under two years, you may be able to claim on your Life insurance.
For both covers, two types of insurance are offered:
A) Fixed cost, where the value of insurance decreases with age,
B) Fixed value, where the cost of insurance generally increases with age.
Of course, to receive the relevant benefit you must have insurance cover in force at the time.^
Apply for insurance or increase your current cover
Getting the peace-of-mind that comes with Statewide Super insurance is easy.
If you’ve joined Statewide Super through your employer, you could be eligible to automatically receive four units of Income Protection insurance, and up to four units of standard Life & TPD insurance, depending on your age (employer-sponsored member). However if the automatic cover is not sufficient for your needs (or does not apply to you), you can apply by following these simple steps:
- Log into your personal Statewide Super Online account
- Click on the Insurance tab, followed by the ‘Insurance review’ button
- Fill in your details and submit*.
Need more information?
Further details about Statewide Super’s insurance cover can be found in our Insurance in your super booklet.
If you still have questions, or you want to increase your cover, simply call our team on 1300 65 18 65.
For more personalised advice tailored to your insurance needs, consider talking to a Financial Planner.
Making a claim
Statewide Super should be notified as soon as reasonably possible after an event that is likely to give rise to a TPD or income protection claim. We will then send you the claim forms, which should be completed and returned to Statewide Super. The claim forms will generally require information and evidence such as medical practitioner reports, employer reports and health certificates.
Please note, you should also consider whether you are eligible to apply for an income protection benefit.
Please see Statewide Super’s Insurance in your super booklet for more information about making a claim.
*Please note that cover will be subject to acceptance by the Insurer and exclusions may apply.
Insurance is provided by MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096 (the Insurer). Insurance is subject to the full terms and conditions contained in the ‘insurance policy’ with the Insurer. A copy of the policy may be provided to you upon request at no charge. You will only be entitled to insurance benefits to the extent that the trustee receives insurance proceeds in respect of you under the policy with the Insurer. The trustee has a right to change the Insurer from time to time.