Insurance
Last Updated : 20 Apr 2009
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Have you ever thought about how your dependants would cope if you died or were unable to work due to disablement?

Our low cost insurance cover for members is a way of protecting against unforeseen events.

We can provide you with Death, Total & Permanent Disablement (TPD) and Income Protection insurance.

The remainder of this page provides a summary of your insurance options in AGEST.  Full details, including maximum levels of cover and premium costs, can be found in our Product Disclosure Statement (see the link on the right hand side of this page).

Death and TPD insurance Income Protection insurance
One of the important benefits that comes with AGEST Super membership is our low cost Death and Total & Permanent Disablement (TPD) insurance.

Some of the key features of our insurance include:

  • Any member can apply for insurance cover
  • new members and existing members who commence or recommence having employer contributions paid into AGEST automatically receive death and TPD cover without evidence of health - the premium for this cover is $2.50 per week
  • You can apply for more cover or reduce/cancel your cover - the choice is yours
  • You can choose the type of cover that best suits you - Death only cover or Death and TPD cover - as well as the style of cover you'd prefer ( unit based or fixed cover)

    The maximum Death and TPD cover you can have is:
    Death - $5 million
    TPD - $2 million.

    These insured benefits are paid in addition to your AGEST account balance upon death or TPD.

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    Have you ever thought about how you'd cope financially if you were injured or became ill and were unable to work? Who would pay your rent or mortgage and meet other regular expenses? How would your dependants cope?

    Unless you have insurance or other income, these basic living costs may be hard to meet.

    This is why we have Income Protection insurance. It is voluntary, and can cover you for up to 75% of your income whilst you are temporarily disabled and unable to work.

    You can choose between 3 different waiting periods for benefits - 30, 60 or 90 days - whatever suits you best.

    The maximum benefit period is 2 years.

    You can cover yourself for up to 85% of Salary (75% paid to you and 10% paid as a super contribution to your AGEST account).

    The maximum income protection benefit you can receive is $25,000 per month.

    Transferring other insurance cover into AGEST

    You can also apply to transfer other insurance cover into AGEST. This is a great way to keep all your insurance together. If accepted, your cover will be provided according to AGEST's policies and you will pay AGEST premium rates for your total cover.

    Download our Transfer Your Insurance Cover form below for further details.


    Forms for Insurance in AGEST

    Insurance Policies

     


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    This website, and documents linked to it, provides information of a general nature. It has been prepared without taking into account your particular needs, circumstances and objectives. You should assess your own financial situation and read our combined Product Disclosure Statement and Financial Services Guide before making an investment decision. The Trustee of AGEST (Australian Government Employees Superannuation Trust) is AGEST Super Pty Ltd, ABN 44 007 390 392, SPIN AGE0101AU and AFSL 233707, RSE Licence L0000383, RSE Registration R1001556.