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First time logging into the new online member portal? You will need to register for the portal by clicking on the 'Register' button below, if you are a member of Triple S, Flexible Rollover Product, Super SA Income Stream or Super SA Select.

More cover, greater flexibility – Triple S and Flexible Rollover Product (FRP) insurance is changing from 3 September 2018

 

Our focus is flexibility and fairness: we’re extending cover by five years, introducing age-based premiums, and giving you more choice about your level of cover.

Triple S and FRP insurance are self-insured, which means that their insurance is not-for-profit and focused on members.

All impacted members will receive a letter outlining the changes, shortly.

 

Main changes to insurance cover

Triple S Income Protection Insurance:

  • Maximum age is increasing by five years – from age 60 to 65
  • Option to transfer to a 90 day waiting period
  • Changes to cost of cover: IP premiums continue to be calculated as a percentage of salary but are now based on your age and waiting period
  • Changes to terms and conditions (eg definitions).
  • Provides a fortnightly income of up to 75% of salary1 plus a Contribution Replacement Benefit (CRB), for up to 24 months (or up to age 65, whichever occurs first).

1 Salary for the purpose of IP benefits is your notional salary. Notional salary is the salary used in the calculation of Income Protection benefits. For full-time employees, this is the salary immediately prior to being incapacitated. For part-time and casual employees, notional salary is the salary averaged over a period of up to three years, prior to incapacity. It is increased in line with CPI every six months (where the benefit commences on or after 3 September 2018) and may also be subject to the Automatic Acceptance Limit (AAL) and Maximum Salary Cap.

 

Triple S Death and TPD Insurance:

  • Default cover increasing to three units of Standard Insurance cover
  • Maximum age increasing to age 70 – an extra five years of Death and TPD Insurance
  • Changes to cost of cover: the first three Standard units of cover remain at $0.75 per unit, per week but additional units will cost $1 per unit, per week
  • Option of new Fixed Benefit Insurance with age-based premiums
  • Changes to terms and conditions (eg definitions).

 

FRP Death and TPD Insurance:

  • Maximum age increasing to age 70 – an extra five years of Death and TPD Insurance cover
  • Changes to cost of cover: the first three Standard units of cover remain at $0.75 per unit, per week but additional units will cost $1 per unit, per week
  • Option of new Fixed Benefit Insurance with age-based premiums
  • Changes to terms and conditions (eg definitions).

 

Triple S and FRP Death Only Insurance for Spouse:

  • Maximum age increasing to age 70 – an extra five years of Death Only Insurance cover
  • Option of new Fixed Benefit Insurance with age-based premiums

 

Premium tables Refer to the Triple S & Flexible Rollover Product Insurance Guides to view the new premiums for Triple S Insurance and Flexible Rollover Product Insurance, applicable from 3 September 2018.

Claim applications in process

Claims where the date last worked is prior to 3 September 2018 will be based on current Triple S Insurance Rules and Regulations (applicable to Triple S and FRP members). For more information click here.

Frequently Asked Questions

How do I change my Death and TPD or Death only insurance?

If you want to increase, reduce or cancel your units of insurance you’ll need to complete the relevant form.

While you can change your insurance at any time, there are special transitional provisions in the relevant legislation that allow you to cancel (or opt out) of any extra units provided that may be provided to you on the effective date, without being charged any insurance premiums for this unit. Refer to the Early Lodgement Forms page for more information about what you can do during the transitional period. You will find the relevant forms on this page too.

Can I change my Income Protection (IP) Insurance waiting period?

Yes. You can change your waiting period at any time by completing the “Change IP waiting period” form. If you’re happy with the 30 day waiting period, you don’t need to do anything.

You’ll find more FAQs here.

 

Click here for a snapshot of the above information.