Certain jobs within the transport and logistics industry can be dangerous, so we offer insurance cover to protect you and your family if you die or suffer from an illness or injury.
We offer Death, Total and Permanent Disablement, and Income Protection cover:
- Death cover (including terminal illness cover) provides you and/or your beneficiaries with a lump sum payout if you die or suffer from an illness, or have incurred an injury, that is likely to result in death within 24 months.
- Total and Permanent Disablement (TPD) cover provides a lump sum payment if you become totally and permanently disabled.
- Income protection cover provides monthly income payments for up to two years if you are unable to work due to illness or injury.
Many details affecting your insurance cover – such as when insurance cover automatically starts for you, your level of cover, and the insurance fees (premiums) you pay – depend on your employment and occupation. You can tell us about your occupation (including changes to your occupation) by calling us on 1800 222 071 between 8am and 8pm (AEST/AEDT) weekdays.
Any time cover starts for you, we will send you an Insurance Welcome Letter outlining the details.
You can reduce or cancel cover at any time by calling 1800 222 071 , but if you need to increase cover later you'll need to provide medical and lifestyle evidence.
Basic cover is like a safety net - it consists of two units of death cover up to age 70 and two units of TPD cover up to age 65.
When basic cover automatically starts for you depends on which insurance group you fall into. If you’re not eligible for basic cover to be automatically switched on, you can opt-in by completing the Application for basic insurance cover form.
Unless you choose to fix your basic cover, the dollar amount of cover will vary as you get older. You can fix your basic cover at any time without the need to provide medical and lifestyle evidence. This means the dollar amount of cover remains fixed, and as you get older, the premiums will generally increase with your age. To fix your cover, complete the Switch into or out of Fixed Cover form.
You can reduce or cancel basic cover at any time by calling us on 1800 222 071. If your request to cancel is within 120 days of the date of your Insurance Welcome Letter, any insurance fees (premiums) deducted from your account will be refunded.
Additional death and TPD cover
Any time basic cover is switched on for you, you can apply (via Member Online) for an extra unit of death and TPD cover within 60 days of the date of your Insurance Welcome Letter, without the need for medical and lifestyle evidence. Beyond this 60 day period, any increase in cover can be applied for as voluntary cover and you will need to provide medical and lifestyle evidence.
You may decide to add additional cover to your existing cover, or decide you need insurance cover if you do not currently hold any. You can apply for up to a total of $5 million of death cover and $2.5 million of TPD cover.
You must be under age 70 to apply for voluntary death cover or voluntary death and TPD cover.
You can apply for voluntary cover via Member Online, or call us on 1800 222 071 to arrange a call back from the Insurer to apply over the phone. Alternatively, complete the Application for insurance cover form. You will need to provide medical and lifestyle evidence as part of your application.
Income protection cover
Income protection is a monthly benefit that provides an income for up to two years if you're unable to work due to serious illness or injury. Benefit payments start after the insurer has accepted your claim and your waiting period (30, 60 or 90 days) is over. Generally, if you're under 65 and working at least 15 hours a week, you can apply for income protection cover - you also need to hold (or apply for) death cover to be eligible to apply.
The minimum monthly benefit is $1,000 per month. The maximum monthly income protection benefit you can claim is the lower of:
- 84.5% of your pre-disability income, or
- your agreed value of income protection cover, or
- $30,000 a month.
Lifetime event cover
Lifetime event cover allows you to increase your death, death and TPD, and/or income protection cover for specific life events - like taking out a mortgage or the birth of a child. You don't need to provide any medical and lifestyle evidence to qualify for lifetime event cover.
Transfer of cover
You can apply to transfer insurance from another fund or individual insurer.
If TWUSUPER's insurer accepts your application, you will receive an amount of cover equivalent to the level of cover you currently have with your former fund or individual insurer, subject to the maximum limits of TWUSUPER's Insurance Policy.
If this cover is for death and/or TPD, and/or income protection, this cover will apply in addition to any existing cover held under TWUSUPER (subject to terms and conditions of the policies).