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IOOF Employer Super gives you access to comprehensive insurance that can be customised to suit your needs or default cover with automatic acceptance limits and no health checks
Features and benefits
Members may receive death and TPD default level of cover based on their age, gender and occupation once their account balance reaches $6,000 and are age 25 or over. Members can elect to add insurance to their account prior to this by completing a ‘Default insurance opt in’ form. Full details are available in the IOOF Employer Super Product Disclosure Statement and Insurance Guide.
You can amend your insurance arrangements at any time by completing an Application for Insurance form.
If you don't have enough cover, IOOF Employer Super allows you to customise your insurance to suit your circumstances at any time. There are three ways to increase or change your cover, outlined below.
You can apply for an increase in your cover if one of the following life events occurs:
To apply for an increase and to check the conditions that apply, please refer to the Product Disclosure Statement and complete the Insurance Application – Life Events and Salary Increase form.
If you have insurance cover with another super fund or in a retail policy, you may be able to transfer it to your IOOF Employer Super account. This cover will be added on top of any existing cover you hold.
To apply to transfer your insurance and to check the conditions that apply, please refer to the Product Disclosure Statement and the Transferring your Insurance Cover into IOOF Employer Super form.
You can tailor your insurance by modifying your existing cover or add any new insurance at any time.
To apply for an increase and to check the conditions that apply, please refer to the Product Disclosure Statement and the Application for insurance form.
1 The maximum benefit for TPD and terminal illness cover is $5 million, however death cover has no limit.2 The maximum benefit for income protection is 75 per cent of your declared earned income (plus up to 10 per cent of your declared earned income as a super contribution), not exceeding $30,000 per month.