Death and Total and Permanent Disablement (TPD) insurance cover can give some financial support in the difficult event you become terminally ill, permanently disabled or die. You can choose to have Death-only cover, TPD-only cover, or Death and TPD cover.
If you’re a DBD member you may also be eligible for inbuilt death and disablement benefits.
Are you a DBD member? As well as insurance cover through your super, you're also entitled to inbuilt Death and Disablement benefits.
Are you covered already?
You might have automatically received one unit of default Death and TPD or Death-only cover when you first joined UniSuper (depending on your age and other eligibility criteria).
If you want to increase your insurance cover, you can apply for additional cover.
See more on default cover.
For more information, including how to apply for additional cover, take a look at the Insurance in your super booklet:
How Death and TPD cover works
Death and TPD cover gives you or your beneficiaries a lump-sum payment (if you satisfy the criteria) in the event that you:
How Death-only cover works
Death-only cover gives a lump-sum payment in the event that you die or are diagnosed with a terminal illness.
Your beneficiaries may receive a payment upon your death.
How TPD-only cover works
TPD-only cover gives a lump-sum payment (if you satisfy the criteria) in the event that you can’t work because you’re totally and permanently disabled.
Who provides the insurance through your super?
Death and TPD cover is provided through group life insurance policies we’ve taken out with TAL Life Limited (who we refer to as “the Insurer”).
Cost of Death and TPD cover
You can purchase your Death and TPD cover in two ways.
Unitised cover means the cost of cover per unit stays the same as you get older, but the amount of insurance cover you get reduces. This is the type of cover you’ll get by default.
Fixed cover gives you the same level of insurance cover no matter what your age, but the cost of that cover goes up as you get older. You can opt to switch to fixed cover if you’d like, but you can’t switch back to unitised cover if you change your mind.
The premium rate for combined Death and TPD cover is discounted, and is therefore lower than the sum of the separate Death-only and TPD-only premium rates shown below.
With unitised cover, the cost of cover stays the same as you get older, but the amount of insurance you get for that cost reduces.
- Cost of Death and TPD cover: $1.68 per unit per week*
- Cost of Death-only cover: $1.03 per unit per week*
- Cost of TPD-only cover: $0.85 per unit per week*
Death and TPD cover for one unit of insurance cover: A snapshot
|Age next birthday
||Amount of cover ($) per unit of cover
||2,500 (Death only)
* Premiums shown include stamp duty and an administration fee of 6% of the insurance premium charged to cover the costs associated with administering the insurance arrangements. The administration fee is inclusive of GST and the benefit of any tax credits that are applicable to the Trustee. Please note, insurance premiums are not fixed and can be expected to change from time to time. Members are given written notice of any changes.
For more in the amount of cover you get for one unit of Death and/or TPD insurance depending on your age, take a look at the Insurance in your super booklet.
Fixed cover means the cost of cover increases as you get older, but the amount of insurance you get for that cost stays the same. The amount of fixed TPD cover will reduce by 10% each year from age 61 until it ceases at 70.
With fixed cover, you decide how much cover you want, rounded to the nearest $1000. Your premium depends on your age and whether you want Death-only cover, TPD-only cover, or combined Death and TPD cover. It’s calculated according to each $1,000 you insure.
Annual premiums per $1,000 insured benefit: A snapshot
|Age next birthday
||TPD-only cover (S)
||Death-only cover ($)
||Death and TPD cover ($)
||21.44 (Death only)
Premiums shown include stamp duty and an administration fee of 6% of the insurance premium charged to cover the costs associated with administering the insurance arrangements. The administration fee is inclusive of GST and the benefit of any tax credits that are applicable to the Trustee. Please note, insurance premiums are not fixed and can be expected to change from time to time. Members are given written notice of any changes.
You can learn more about fixed cover, including the cost per $1,000 of cover for every age, and how to apply:
Fixed cover example
Tony is 49 years old and has insured $100,000 with Death and TPD cover. He has chosen the fixed cover option.
He'll turn 50 on his next birthday, so is paying a premium of $1.59 per $1,000 he’s insured.
The premium is $159 for that year, but will increase each year as he gets older.
Limited TPD cover
Under our former insurance arrangements, some members may have been provided with Limited TPD cover in certain circumstances.
From 3 January 2015, TPD cover may be subject to a 12-month pre-existing condition (PEC) restriction instead of the Limited TPD cover restriction.
Members whose existing TPD cover is Limited TPD cover will continue to have Limited TPD cover for the remainder of their limited cover period.
For some members, this could mean some TPD cover may be Limited TPD cover, and some TPD cover may be subject to a PEC restriction.
How to claim Death and TPD cover
If you need to make a TPD claim or if you’re a beneficiary and need to make a death claim, you have to let us know as soon as possible.
Contact us and we’ll guide you through the process and send you any forms you need to fill out.
This page only provides a snapshot of the Death and TPD insurance cover available through your super. Before you make any decisions, take a look at the Insurance in your super booklet for more detailed information on:
- eligibility criteria,
- how much you can apply for,
- important definitions,
- waiting periods,
- how to apply, and
- other necessary information and forms.
Insurance in your super booklet
Defined Benefit Division and Accumulation 2 PDS
UniSuper Advice helps UniSuper members with more than just super. Each year the UniSuper Advice team helps members navigate the financial side of important life events, like figuring out the right level of cover for you.
Talk to UniSuper Advice on 1300 331 685 and see how they can help you.