Members have the option to opt-in to Standard insurance cover before they meet the automatic acceptance requirements (subject to them meeting the other eligibility criteria). For full terms and conditions, refer to the Super Savings Insurance Guide.
If you are not eligible to opt in or automatically receive Standard Death and Total & Permanent Disability Assist or Opt-In Income Protection cover you can apply for Tailored cover. Any application will be subject to acceptance by the insurer (satisfactory evidence of health will be required).
Learn about Tailored cover
Total & Permanent Disability Assist cover was designed by Australian Retirement Trust with the aim of striking a balance between providing protection and keeping premiums low.
In the event of a successful claim, at least one, and up to a maximum of six support payments will be paid (where you continue to meet the Total & Permanent Disability Assist definition). If your 'date of disablement' was on or after 1 July 2016 and prior to 1 October 2020 then each payment is equal to one sixth of your maximum cover amount as at your 'date of disablement'. If your 'date of disablement' occurs on 1 October 2020 or thereafter, the initial support payment is calculated as 25% of your maximum benefit amount at the 'date of disablement' and the subsequent support payments (up to a maximum of five payments) are each calculated as 15% of your maximum benefit amount at the 'date of disablement'. In limited circumstances, Total & Permanent Disability Assist may be paid as a single lump sum payment.
If you think that cover that provides a single lump sum benefit (equal to your maximum benefit amount) would better suit your needs should you become totally and permanently disabled, you may consider applying for Tailored Total & Permanent Disability cover.
If you need help deciding which type of cover may be right for you, give us a call on 13 11 84 and we'll talk you through it.
You don't have to jump through hoops to find out if you're eligible for this insurance.
The following table outlines insurance cover eligibility requirements for automatic Standard Death and Total & Permanent Disability Assist cover. If you're unsure if you are eligible for insurance cover with Australian Retirement Trust, call us today on 13 11 84.
| Types of insurance cover | Age | Eligible for cover | Not eligible for cover |
|---|---|---|---|
| Standard Death | 15-69 |
or
|
|
| Standard Total & Permanent Disability Assist | 15-66 |
1. You will be actively employed if you satisfy the 'at work' definition at the date your automatic Death and Total & Permanent Disability Assist cover starts - refer to the Super Savings Insurance Guide for the 'at work' definition.
2. Self-employed means a person who is predominantly working in their own business on a regular basis and earning an income and we are not receiving SG contributions from your employer. Refer to the Super Savings Insurance Guide for the 'self-employed person' definition.
The amount and cost of cover depends on your age, gender and type of cover. The amount of your cover changes as you get older.
If you are approved for a Total & Permanent Disability Assist benefit, you may be paid up to six support payments over a minimum of five years (where you continue to meet the Total & Permanent Disability Assist definition). If your 'date of disablement' is on or after 1 October 2020, the initial support payment is calculated as 25% of your maximum benefit amount at the 'date of disablement'. The subsequent support payments (up to a maximum of five payments) are each calculated as 15% of your maximum benefit amount at the 'date of disablement'.
To find out which level of cover and premium applies to you take a look at Premium table 1 in the Super Savings Insurance Guide. Standard Total & Permanent Disability Assist cover ends at age 67. Premiums are calculated weekly and normally deducted from your Super Savings account each month so it doesn’t impact your take-home pay.
| Your age | Standard Death |
|---|---|
| 25 | $125,000 |
| 35 | $240,000 |
| 45 | $132,000 |
| 55 | $42,000 |
| 65 | $16,000 |
| Standard TPD* Assist ($) | Standard Death and TPD* Assist premium ($) per week | ||||
|---|---|---|---|---|---|
| Your age | Initial support payment | Subsequent support payments | Maximum Benefit1 | Male | Female |
| 25 | $43,750 | $26,250 | $175,000 | $5.24 | $3.44 |
| 35 | $60,000 | $36,000 | $240,000 | $9.24 | $6.16 |
| 45 | $33,000 | $19,800 | $132,000 | $11.32 | $8.84 |
| 55 | $10,500 | $6,300 | $42,000 | $11.32 | $8.84 |
| 65 | $16,000 | 0 | $16,000 | $11.32 | $8.84 |
* TPD means Total & Permanent Disability.
1. The maximum benefit shown is the sum of the initial support payment and all 5 subsequent support payments.
When your life changes, Life and Age Event options give you the opportunity to increase your Standard Death and Total & Permanent Disability Assist cover at the times in your life when it matters the most. Find out more about increasing your cover with Life and Age Events.
Check out the Super Savings Insurance Guide or contact us on 13 11 84 and we’ll talk you through it.
If you have Standard cover, you have 120 days from the date you join Australian Retirement Trust to request to add Opt-In Income Protection cover.
You can also apply for White Collar cover, if you are eligible, at any time.
White Collar Death and Total & Permanent Disability Assist cover provides 50% more cover at no additional cost. White Collar Income Protection may reduce your premiums for Opt-In Income Protection, or entitle you to more cover.
Opt-In Income Protection cover provides you with a replacement income, after a 'waiting period'1 of 90 days, for up to two years if you are unable to work due to injury or sickness.
If you are eligible you can elect the New Member options upon joining Australian Retirement Trust, when you join online, via your Member Online account (if you are already a member) or you can apply by completing and returning the Membership application form within the first 120 days of joining Australian Retirement Trust.
1. The 'waiting period' commences from the date a 'medical practitioner' certifies you are 'totally disabled' or 'limited totally disabled' and unable to work as determined by the insurer. Benefit payments will start accruing when the 'waiting period' ends and are paid monthly in arrears. Your amount of cover is a fixed monthly benefit amount. Your cover amount is calculated as 85% of your 'income' (75% of your 'income' plus 10% superannuation contribution), rounded up to the next $500. The maximum monthly benefit for Opt-In Income Protection cover is $5,000. You will be provided with a monthly benefit of $2,500 where you do not provide details of your 'income'. The Opt-In Income Protection cover option is only available to be requested within 120 days of you joining Australian Retirement Trust.
