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You could change your insurance costs based on your job
An occupational rating is where you can apply to change how much you pay for insurance to reflect your job or occupation. So depending on your job, you may pay less or more if you apply an occupational rating.
If you're currently working in a role that's considered to be a lower risk than other jobs, applying an occupational rating could mean you pay less for your insurance.
If you opened your QSuper Accumulation account online or personalise any of your cover, you'll need to answer questions to apply an occupational rating.
If you open a QSuper Accumulation account through your employer and don't make any changes to your cover, you'll pay for insurance at the default rate (or default police rate). If you join QSuper online, change your cover, or apply an occupational rating, you'll fall into one of the groups below.
This could apply to you if:
You can check the default and standard rate tables for premiums you'll pay in the back of the QSuper Insurance Guide (pdf). To calculate how much you'll pay for insurance after you apply an occupational rating, multiply the standard premium for your age by the figure from the rate table below.
Use our Insurance Premium Estimator to find out your occupational rating.
Craig is 45 years old and currently paying a default rate of $5.29 per unit per week of unitised TPD cover.
When Craig decides to apply an occupational rating through Member Online, he realises that he actually falls under the white collar occupational rating.
By multiplying the standard TPD cost for his age with the white collar rate for TPD, Craig realises by occupationally rating himself, he will only pay $3.94 per TPD unit per week. That's a saving of $1.35 per TPD unit per week while he is 45.
You can apply an occupational rating by answering some questions about your job in Member Online.
You'll be shown your occupational rating and how it will impact your insurance costs before you confirm whether or not you'd like to apply any changes.
You could change how much you pay for your insurance by answering some questions about your job in Member Online.