Insurance
FUND DETAILS USI: NES0100AU ABN: 72 229 227 691 ADDITIONAL INFORMATION
Insurance with NESS Super
Insurance can give you peace of mind as it provides financial support to protect what’s important to you if you die or have to stop work due to illness or injury.
We provide insurance cover automatically. See our NESS Super Insurance Guide for more detail.
If you or your employer stops making SG contributions, your insurance premiums will continue to be deducted from your super. However, your Income Protection insurance will cease if SG contributions cease.
You can change or cancel your automatic insurance cover at any time.
Default Cover
Our default cover includes:
Income Protection
Up to 75% of your income plus 12% payable as super contributions to your NESS Super account if you are ill or injured, for up to 2-years, with a 30-day waiting period.
Total & Permanent Disablement (TPD)
2 units of TPD cover.
A lump sum payment to support you if you’re unlikely to ever work again due to illness or injury.
Death or Terminal Illness (TI)
2 units of death cover.
If you die, a payment to your dependants, estate or legal personal representative; or
If you’re medically certified as likely to die within 24 months, a payment to you.
Death or Terminal Illness (TI) Cover
With Death cover, NESS Super provides automatic cover if you die prior to the age of 70. It is 2 units of cover with the cover amount and premiums determined by your age.
Or if you become terminally ill and we can you provide evidence that you are likely to die within 24 months, you may be eligible for a terminal illness payment payable to you.
For more information refer to the NESS Super PDS or NESS Super Insurance Guide
Total & Permanent Disablement (TPD) Cover
With TPD cover, NESS Super provides automatic cover if you are unlikely to ever work again due to illness or injury, up to age 65. It is 2 units of cover with the cover amount and premiums determined by your age.
For more information refer to the NESS Super PDS or NESS Super Insurance Guide
Income Protection (IP) Cover
For Employed Members, Income Protection (IP) cover provides cover to members who cannot perform their usual occupation because of illness or injury. The payment of an income protection benefit provides you with a set level of income to help pay for living expenses and financial commitments.
The Income Protection cover ensures members are covered for up to 87% of their pre-disability income. This is made up of, up to 75% of your pre-disability income payable to you and up to 12% payable as superannuation contribution for up to 2 years (104 weeks).
To be eligible for Income Protection members MUST ensure that Employer (SG) contributions are being paid to their NESS Super account. The default Income Protection cover is provided at a premium and will be automatically deducted from your NESS Super account.
There is a 30 day waiting period.
Members can apply to increase the length of cover from 2 years (104 weeks) to 5 years (260 weeks), though different premiums will apply.
For more information refer to the NESS Super PDS or NESS Super Insurance Guide