Why insure through super?

Use your super to protect your future

Super isn’t just an investment that can help you when you retire – your super can be used to protect the financial wellbeing of you and your family.

You can fund a number of types of insurance cover through your super. This means your future can be protected with the added benefit of maintaining your disposable income. Through IOOF’s range of super products, you can purchase different types of insurance cover to protect you in the event of serious injury or illness, permanent disablement, or provide a lump sum to your beneficiaries in the unfortunate event of your death.

Competitive group rates and features

IOOF platform super products offer competitive premium rates and a broad range of insurance features under our group insurance policies. The following cover is available:

Insurance type Description
Death cover Death cover provides your family with financial security in the event of your death. If you die, your insured benefit will be paid to your dependants or estate in addition to your super account balance.
Death and Total & Permanent Disablement (TPD) TPD cover provides you and your family with financial security in the event you become totally and permanently disabled. If this happens, your insured benefit may be paid to you and/or to your super account.
Income protection Income protection cover provides you with a regular monthly income if you become totally disabled because of illness or injury and are unable to work and earn your income.

In addition to competitive group insurance, IOOF also offers retail insurance through three leading providers.

Your financial adviser can help

Whilst insurance is a great way to benefit from your super balance right now, it’s important to determine the optimal level of cover for you. If you have too little cover, you or your family could suffer financial distress in a time of need. If your cover is too high, it can erode your super balance resulting in a lower retirement benefit.

Your financial adviser can help you assess your insurance needs, including an appropriate level of cover and whether retail insurance is right for you.

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