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Discover the advantages of having insurance included with your super
Most super funds, including QSuper, provide life insurance to eligible members. With one in three of our members making an insurance claim in their lifetime,1 our cover is designed to provide you and your loved ones with financial support when it matters most.
Here are some benefits of having insurance included with your super account.
We offer bulk insurance rates for our members so you pay less for your cover. If you take out insurance with a retail insurer, you may be paying a higher weekly rate.
The cost of your insurance cover is paid directly from your super account, rather than your take-home pay. This means that the cost won't impact your day-to-day budget, giving you the freedom to manage your finances in a way that suits you.
We don't require any personal medical history before providing you with cover when you first join QSuper (if you're eligible), which means you can avoid the hassle of time-consuming health checks.2 Insurance policies offered through a retail insurer generally require you to disclose your medical history, which means you could pay a higher rate, or not be covered at all, if you have any pre-existing health conditions.
Other insurers who offer income protection products typically only protect 75% of your income. QSuper covers 75% of your income, plus an additional 12.75% payment into your QSuper account.3 This means that if you're not able to work, you can still maintain your lifestyle while continuing to grow your super.
You should weigh up the benefits of having insurance through your super and the impact that paying insurance costs will have on your retirement savings.
If you're unsure whether having insurance through your super is right for you, getting some professional guidance can help. As a QSuper member, you have access to financial advice from QInvest.4
Having insurance through your super doesn't have to be complicated. Explore the different insurance options that we offer.
Another benefit of QSuper insurance is that it is designed to be flexible. You can change your income protection, death cover, or total and permanent disability (TPD) cover to suit your needs.
It takes less than five minutes to sign up online.
Already a member? Manage your insurance online.
1. QSuper’s analysis shows 36.8% of members who spend their whole working lives with QSuper are expected to access their insurance benefits before retirement. This includes 2.6% who die, 11.5% who become totally and permanently disabled before the age of 65 and 22.7% who are temporarily disabled from working, for a significant period, at some stage.
2. Up to the automatic acceptance limit.
3. Cover amount is 87.75% of your insured salary which includes a contribution replacement benefit of 12.75% of insured salary into your QSuper account.
4. QInvest Limited (ABN 35 063 511 580, AFSL 238274) is a separate legal entity responsible for the financial services it provides. Advice fees may apply. Refer to the Financial Services Guide for more information.