Spending time with loved ones is one of life’s many pleasures, but it can also be a timely reminder of how much your family depends on you.
If you were injured and unable to work, how would your family pay for household expenses such as the mortgage, food, power bills and school fees? And should the worst happen, a sudden death could place enormous financial pressure on grieving relatives.
Ensuring you have adequate insurance cover – be it income protection or death and disability cover – means you and your dependants will be taken care of in the event of your injury, illness or death.
You may already be covered by automatic insurance cover through your super fund. Most funds provide a level of automatic death and total and permanent disablement (TPD) insurance when you join through your employer.
Some funds offer income protection cover as well. If you are injured and unable to work for several months or longer, you could receive up to 75 per cent of your pre-disability income during your recovery.
Apart from providing peace of mind, having insurance through your super fund offers many benefits, including the fact that no medical examination is usually required for members who join through their employer to receive the minimum standard cover.
To add to this, insurance cover is often cheaper through your super fund because it’s purchased at a discount and can be passed onto members in the form of cheaper premiums. And it’s more convenient, as premiums are deducted straight from your super account so you don’t have to find extra money to pay for it.
If you require a higher level of cover than the automatic cover provided, you usually have the option of applying for additional cover through your super fund.
Insurance cover is too important to take for granted. Contact your super fund to find out what insurance you already have, and what additional cover might be available.
Insurance with StatewideSuper
We offer our members a variety of services to help them sort out their insurance needs. If you’re not already a StatewideSuper member, you can join online by going to the website and clicking Join Now! Alternatively, you can give our Client Services team a call on
1300 65 18 65, they’ll be happy to walk you through the process of becoming a StatewideSuper member.
For more information read the Product Disclosure Statement available at www.statewidesuper.com.au or call our Client Services team to have one mailed to you. There are costs associated with insurance and members will be provided with 30 days prior notice in writing of any increases.
The information provided above is of a general nature. It does not consider your specific needs nor is it intended to be financial product advice. You should obtain independent financial advice, and consider the applicable Product Disclosure Statement before making an investment decision.
