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Our Income account won Money magazine's Pension Fund Manager for 2019.3
Here at QSuper, we recognise that super makes up just one part of your overall financial picture. Another very important part of this picture is your insurance and, as a QSuper member, you have access to our various insurance cover options – all designed to provide you with security and peace of mind throughout your life, and vital support if you ever need to call on it.
Eligible members are provided with death and total and permanent disability (TPD) insurance automatically, and are also provided with automatic income protection cover (other members can often apply for it).
But what makes QSuper insurance really stand out is the flexibility offered. From the level of cover you take out to the combination of our different insurance options – it’s up to you. If you want to tailor your income protection by changing the waiting period or benefit period, or have different amounts of death and TPD cover, that’s your call. It’s your cover, your way.
Read more about personalising your death cover.
Read more about personalising your TPD cover.
A member can choose to:
Read more about personalising your income protection cover.
You can also personalise your cover by requesting to be occupationally rated so that your premiums are based on the type of work that you do and not at the default rate.
Read more about Occupational Rating
If we have not received any money into your Accumulation account for 13 continuous months, we will cancel your cover.
To ensure this doesn’t occur you can permanently opt-in to insurance cover on Member Online, or by completing a Change of Insurance form.
There are other conditions to this; please download our Accumulation Account Insurance Guide and the Change of Insurance form for further information.
If you don’t want insurance now or in the future, you can cancel your cover to ensure we won’t automatically provide you with cover again, even if your employment changes. Some more information on cancelling your insurance is here. There are some exceptions to this, so please download our Accumulation Account Insurance Guide for further information.
Dev works at Queensland Health and has an annual salary of $75,000. This salary is covered by his default income protection cover. He also works one shift a week at a private hospital, which pays him an annual salary of $15,000. This salary is not covered by default income protection. Dev’s current annual income protection cover (including a contribution replacement benefit) is 87.75% of $75,000: $65,812 ($5,484 per month). Dev chooses to switch to unitised cover so he can also include his part-time salary. Dev’s total annual income: $90,000. Total amount of annual cover Dev is eligible to receive (including a contribution replacement benefit): 87.75% of $90,000: $78,975 ($6,581 per month). Dev chooses to buy 13 units of cover (each unit worth $500 per month). This provides him with $6,500 of cover per month, including a contribution replacement benefit payable to his QSuper Accumulation account.1
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Please note this information is a general summary only. Please refer to our Accumulation Account Insurance Guide for further information on terms, conditions and eligibility.
1. Please note that the case study is provided for illustrative purposes only and the member shown isn’t real. It is assumed for the purpose of the case study that all terms and conditions have been met. Additionally, figures may be rounded for ease of understanding.