What insurance cover do I have?

You'll automatically have insurance included with your QSuper account¹ when:

• You're aged 25 years or older
• Your account balance has been $6,000 or more, and
• We've received money into your account in the last 13 months.

This criteria has been put in place to protect your retirement savings from being reduced by insurance premiums. Insurance premiums automatically come out of your account and may have an impact on future retirement savings.

The rules are different if you work for the Queensland emergency services. In this case, you'll have insurance cover automatically included with your account when you start work, even if you don't meet the above criteria. This is because jobs with these employers are considered to carry a higher degree of risk.

Queensland emergency services are:

• Queensland Police Service
• Queensland Ambulance Service
• Queensland Fire and Emergency Service.

If you're under age 25 and want insurance cover, you can apply for cover and permanently opt in via Member Online.

Of course, you can change or cancel your insurance cover at any time.

Keep in mind you will need to have enough money in your account to cover the insurance costs, otherwise your cover will be cancelled.

If your account balance has not yet reached $6,000 and you want insurance cover, you can apply for cover and permanently opt in via Member Online.

Of course, you can change or cancel your insurance cover at any time.

Keep in mind you will need to have enough money in your account to cover the insurance costs, otherwise your cover will be cancelled.

If money is not being paid to your QSuper account right now, but you still want insurance cover, you can apply for cover and permanently opt in via Member Online.

Of course, you can change or cancel your insurance cover at any time.

Keep in mind you will need to have enough money in your account to cover the insurance costs, otherwise your cover will be cancelled.

If you said yes to insurance when you signed up to QSuper via the website or a third party online tool, you'll automatically get between 1-2 units of death cover (depending on your age), and 2 units of total and permanent (TPD) cover (if you're under age 65). You won't get income protection automatically included with your account, but you can apply for income protection cover online.

If you've started working for a Queensland Government or default employer after you opened your QSuper Accumulation account, you'll still get the cover outlined above.

If you work for the Queensland Government or a default employer on a permanent full-time or part-time basis, when you become eligible for default insurance cover you'll receive:

• 1 or 2 units of death cover if you’re aged 16 to 69 (you’ll receive 1 unit if you are aged 16 to 20)
• 2 units of TPD cover if you're aged 16 to 64
• Income protection cover if you're aged 16 to 64

Default cover will start automatically when you begin working for a Queensland Government or default employer if you are 25 or older and have a balance of at least $6,000.

If you're between 16 and 24 years old, default cover will only start automatically if you work for the Queensland emergency services. This means you work for either the Queensland Police Service (QPS), Queensland Ambulance Service (QAS) or Queensland Fire and Emergency Services (QFES).

If you don’t meet the conditions for automatic cover and still want insurance, you can apply for cover at any time.

Refer to the Insurance Guide (pdf) for more information.

If you work for the Queensland Police Service as a currently sworn-in officer, you'll get between 1-2 units of death cover (depending on your age), and 2 units of TPD cover (if you're under age 60). You'll also automatically get income protection cover if you're aged 16-59.

Family law treats superannuation as property that can be divided in the event of a marriage or de facto relationship breakdown.

If a QSuper account is opened for you to receive any super money you're entitled to following a relationship breakdown, you'll automatically get between 1-2 units of death cover (depending on your age), and 2 units of TPD cover (if you're under age 65). You won't get income protection automatically included with your account, but you can apply for income protection cover online.

With death cover and TPD cover, each unit is worth a dollar value based on your age. With income protection cover, each unit is worth $500 a month (including a contribution replacement benefit of $72.65 per unit), and the cost per unit changes with your age.

Permanently opting in to cover means that the types of insurance cover you currently hold (including Death, TPD and Income protection cover) will continue even if:

• You are under 25 years old, and/or
• You have an Accumulation account balance under $6,000, and/or
• We have not received money into your account in the last 13 months.

You can permanently opt in to cover in Member Online or by sending us a completed Permanently opt in to your Accumulation account insurance form (pdf) or Change of Insurance form (pdf). Of course, you can change or cancel your insurance cover at any time. Keep in mind that insurance premiums automatically come out of your account so it's important that you keep enough money in there for your premiums. And insurance premiums may impact your future retirement savings.

There are various other circumstances when cover will end. Refer to the Insurance Guide (pdf) for more information.