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Did you know that you may be able to change the amount you pay for insurance premiums through your QSuper Accumulation account by ‘occupationally rating’ yourself?
By occupationally rating yourself, you could potentially be charged lower insurance premium rates than the default premium rates.
Some occupational ratings will result in a higher premium, but you have the option of whether to apply that occupational rating.
Like most super funds, QSuper products available as part of Australian Retirement Trust, include three main types of insurance, which are:
Learn more about insurance through your QSuper account
But as your life changes, so may the insurance cover you need.
Occupational rating is the occupational category you are in for the purpose of your life insurance cover. It impacts the premiums that you are charged for that cover.
When you are provided with default insurance cover under the QSuper Accumulation insurance product, you are charged premium rates which are called default rates that are based on a default occupational rating.
These are the premium rates that are charged to everyone with default cover and who have not:
The occupational ratings through QSuper insurance and the associated impact on default rates are:
It’s easy. Use our Insurance Premium Estimator
to find out your occupational rating.
You can occupationally rate yourself at any time whilst you have insurance cover. You DO NOT have to change the level or type of cover that you have, to occupationally rate.
It is mandatory to occupationally rate yourself when you change your level of cover away from the default levels provided, or add a type of insurance cover you don’t currently have. This is called personalising your cover.
Learn more about occupational ratings and personalising your cover here.
Occupational rating is not an option for insurance that is provided to Defined Benefit account holders.
Step 1: If you are a QSuper Accumulation account holder, you can apply to be occupationally rated by answering some questions about your job after logging in to Member Online.
Step 2:Once you’ve completed the questions, 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.
To register for Member Online, click here or visit memberonline.qsuper.qld.gov.au/login and then click on the option to register. If you have any difficulties with Member Online registration please give our friendly contact centre a call on 1300 360 750.
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