When you can increase your cover?
You can increase your Death and TPD Assist cover within 180 days of the following Life or Age Events occurring.
Life Event options*:
- you get married**
- you get divorced
- the death of your spouse
- you or your partner have or adopt a child
- you take out a mortgage***for your home or increase your current mortgage by $100,000 or more.
*You can only apply for Life Event options until age 67.
**Marriage as defined by the Marriage Act 1961 (Cth).
***The mortgage must be with a financial institution and for your principal place of residence.
Age Events option
The Age events option is available when you turn age 30, 40 or 50.
How it works
You can increase your Death and TPD Assist cover or White Collar cover by 25% at each Event for just an extra 25% of your weekly premium per event.
Members can apply up to four times for Life Events, plus you may have up to three opportunities to increase your cover with Age Events. Refer to the Sunsuper for life Insurance guide [PDF 6.3MB] for full details of the options available to you.
Things to consider
- Where Death, Total and Permanent Disablement or Terminal Illness is caused by suicide or any self-inflicted act within 12 months of increasing your cover an increased benefit will not be paid.
- If you cease making contributions or have a low account balance insurance premiums could erode your retirement savings and your cover may cease.
- Limited cover will apply to the increase amount, this means that you will not be covered for pre-existing illness or injury. Limited cover will apply for a period of 24 months and until you have been At Work for 30 consecutive days after the end of the 24 month period.
How to apply
Complete the Life and Age Event insurance options form [PDF 73KB].