Importance of insurance

First State Super offers flexible insurance arrangements through policies issued to the Trustee from its Insurer.

Basic insurance cover

Automatic Basic cover is available in the Employer Sponsored Division of First State Super. It provides a level of Death and Total and Permanent Disablement cover or Death Only cover.

Basic cover generally applies if you join the Fund through your employer, as long as you are aged more than 15 but less than 70 years of age and your participating First State Super employer starts making superannuation guarantee contributions on your behalf to the Fund. If you are eligible for automatic Basic cover you may elect to cancel the insurance cover.

For more information about Basic cover, please refer to the Product Disclosure Statement for the relevant division.

Basic Plus insurance cover

The Basic Plus insurance category may either increase your cover or reduce the premiums you pay. You can apply for the Basic Plus insurance category if you:

• are aged more then 15 but less than 70 years of age; and
• work at least 30 hours per week; and
• earn more than $80,000 each year (including your SG contributions); and
• provide satisfactory answers to the questions about your health, income, occupation, lifestyle and pastimes on the insurance application form available from Customer Service or from the website.

You must be accepted by the Insurer for Basic Plus cover. See the Product Disclosure Statement for your division for more information.

Additional insurance cover

Additional insurance cover is available to members in the Employer Sponsored Division and Personal Division of First State Super.

You may apply for additional Death and Total and Permanent Disablement cover or additional Death Only cover. You have a choice of units of Additional insurance cover and/or a fixed dollar amount of insurance cover, so that your total cover in First State Super is no greater than $2 million for TPD cover and $5 million for death cover.

To apply for Additional insurance you must:

• be aged more then 15 but less than 70 years of age;
• if you are an employer-sponsored member, have at least one unit of Basic cover. If your Basic cover is Death Only cover, you can only apply for Additional Death Only cover;
• provide information about your health, income, occupation, lifestyle and pastimes so that your application can be assessed.

To apply for Additional cover, use the insurance application PDF 167kb form available from Customer Service or from our website.

All applications for additional insurance cover will be subject to the Insurer assessing your evidence of health and personal information and then accepting or declining your application. You will be advised in writing of the Insurer's decision.

For more information please read the Product Disclosure Statement for your division.

Income Protection

You can apply for Income Protection cover if you are:

• aged between 15 and 65 years, and
• employed for at least the Minimum Hours (at least 15 hours) per week, working regular hours, performing identifiable duties, and be entitled to paid annual leave, sick leave and long service leave, or
• undertaking paid work in your own business for at least the Minimum Hours (at least 15 hours) per week.
• You do not need to have Death or TPD cover to apply for Income Protection cover.

The benefit payable will be your disability monthly benefit which is the lower of:

a) 50% or 75%, as you select, multiplied by your prior monthly income; and

b) the Sum Insured; and

c) $20,000.

Income Protection insurance (if the claim is accepted) is paid as a monthly income stream and not as a lump sum. The income stream is paid for up to 2 years. You can choose a 14-day, 30-day, 60-day or 90-day waiting period.

For more information please read the Product Disclosure Statement for your division.

Ambulance Officers’ Super

Eligible Officers of the Ambulance Service of New South Wales have Ambulance Officers’ insurance cover.

For more information read the Ambulance Officers’ Super Product Disclosure Statement.

Police Blue Ribbon Super

Eligible NSW police officers have Blue Ribbon insurance cover.

For more information read the Police Blue Ribbon Product Disclosure Statement.

Calculation of insurance premium

You can use our insurance calculator to work how much you might have to pay for insurance cover and how much cover you will have:

First State Super Insurance Calculator

"Choose a level of cover to suit your needs" Click here to use our insurance calculator.   Want to see how First State Super's insurance cover compares with over 80 other funds? Click here   Need some personal advice?   First State Super members have access to low cost financial advice through FSS Financial Planning.   Click here to find out more                   Not sure how much insurance you need? Click here to use our insurance gap calculator