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Insurance for members

In AESuper, you have a number of insurance options to protect yourself and your family should the unexpected occur. The following information applies if you were an insured member of AESuper prior to 12 January 2009. If that does not apply to you, your rates and cover may be different. Further details are available on this website, or contact us for more information.

As an AESuper member, you may be entitled to insurance cover to protect you and your family if illness or injury prevents you from working or in the event that you die. The insurance cover available includes:

Death and Total and Permanent Disablement (TPD) cover

AESuper offers insurance against death and total and permanent disablement at highly competitive insurance premium rates. For further information please contact us.

If you were an Insured Member on 12 January 2009, the amount of cover you might receive in the event of death or total and permanent disablement depends on your age next birthday. To calculate your premium and level of cover, simply refer to the tables below.

Age next birthday
Cost per unit per week
15 – 48
$1.20
49 – 55
$2
56 – 58
$3
59 – 70
$4

 

Age next birthday
Cover
Age next birthday
Cover
15
$120,748
43
$60,374
16
$120,748
44
$54,281
17
$120,748
45
$48,189
18
$120,748
46
$42,280
19
$120,748
47
$38,588
20
$120,748
48
$35,080
21
$120,748
49
$62,774
22
$120,748
50
$55,390
23
$120,748
51
$48,374
24
$120,748
52
$43,572
25
$120,748
53
$38,772
26
$120,748
54
$33,972
27
$120,748
55
$28,802
28
$120,748
56
$36,003
29
$120,748
57
$32,679
30
$120,748
58
$28,803
31
$120,748
59
$33,972
32
$120,748
60
$28,804
33
$120,748
61
$24,000 (Death Only)
34
$120,748
62
$23,800 (Death Only)
35
$120,748
63
$23,800 (Death Only)
36
$120,748
64
$23,800 (Death Only)
37
$110,963
65
$23,800 (Death Only)
38
$101,362
66
$20,000 (Death Only)
39
$91,761
67
$20,000 (Death Only)
40
$81,976
68
$20,000 (Death Only)
41
$72,375
69
$20,000 (Death Only)
42
$66,282
70
$20,000 (Death Only)

 

Income Protection

If you are employed on a permanent basis and working at least 15 hours per week you may apply for Income Protection (IP) cover. IP provides you with an income over the short term if you are unable to work due to total but temporary illness or injury. Full details are contained in the Product Disclosure Statement, including the terms and conditions of cover.

IP covers you for up to 85% of your pre-disability earnings, up to a maximum benefit of $25,000 per month for up to two years. Of this 85%, 75% is payable directly to you and 10% is paid as a superannuation contribution to AESuper. IP will have a waiting period of 30 days and a benefit payment period of two years.

The cost of IP cover depends on your salary. The minimum level of cover is a benefit of $1,000 per month. Insured amounts in excess of $1,000 per month must be purchased in units of $250 per month. The maximum level of cover is $25,000 per month.

To calculate your monthly premium, simply refer to the table below. Premiums are deducted from your account.

Age next
birthday
First $1,000
of monthly cover
Each extra $250
of monthly cover
To 30
$4.528
$1.131
31 – 40
$6.092
$1.525
41 – 45
$9.104
$2.275
46 – 50
$12.145
$3.037
51 – 55
$16.968
$4.242
56 – 60
$23.987
$5.997
61 – 65
$25.842
$6.461

IP cover is optional. If you wish to take up this option, please download and complete the Income Protection Application Form or contact us to request a copy.

  

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© 2009 Australian Enterprise Super
 

The information contained on this website is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about Australian Enterprise Super, you should consider your own requirements and the relevant Product Disclosure Statement. To obtain a copy, call us on 1800 555 024 or download it from this website.

Professional Associations Superannuation Limited (PASL) (ABN 14 056 917 303 RSE L0000352 AFSL 222590) as Trustee of Professional Associations Superannuation Fund (PASF) (ABN 78 984 178 687 RSE R1000429). Australian Enterprise Super is a Division of PASF.