Insurance
As a TWUSUPER member you receive flexible, affordable insurance cover to help protect you and your family in the event of your death or if you're unable to work due to serious illness or injury.
Fees (in the form of premiums) for this cover are deducted directly from your super account.
You can manage your insurance by logging in to Member Online.
Insurance types
We offer Death, Total and Permanent Disablement (TPD) and Income Protection cover. Death cover is sometimes called life insurance.
If you're 18 and over (and meet certain eligibility requirements), you automatically receive Death and TPD cover when you join TWUSUPER. All members can apply for Income Protection cover.
Even if you're not eligible for automatic cover (for example, you're less than 18), you can still apply for the cover you need.
Your insurance
It's a good idea to review your insurance cover from time to time to make sure it still meets your needs. Check that you’re in the right insurance group, have enough insurance to cover you and your family if something happens, and have nominated who you want to receive your death benefit if you were to die.
Make a claim
To make a claim, call us on 1800 222 071 between 8am and 8pm (AEST/AEDT). We’ll answer your questions and help you with the paperwork.
Cover and costs
Because of our size, we’ve negotiated competitive insurance fees (premiums) for members that are generally cheaper than what you would pay as an individual. Premiums are paid directly from your super account, so you get cover without feeling the impact on your take home pay.
Insurance in Superannuation Voluntary Code of Practice
TWUSUPER supports the objectives and key principles of the Insurance in Superannuation Voluntary Code of Practice (Code) including:
- our default insurance cover should be appropriate and affordable and must not inappropriately erode our members' retirement income
- our member communications should be clear, timely and in plain language to assist our members to understand their insurance cover, and
- we will continue to take an active and visible role in managing claims for our members' insured benefits, regularly update them on the progress of their claims and provide decisions on claims in a reasonable timeframe.
TWUSUPER intends to comply with the Code to the extent that the Code provisions are in line with the best interests of our members. Whilst we already comply with many aspects of the Code, we will continue to review our insurance benefit design and processes against the new benchmarks set out in the Code and develop our transition plan by 31 December 2018.