If you're under 70 and have worked 20 hours or more per week on a regular basis during the past 12 months, you can apply to purchase Death and Total and Permanent Disablement Insurance.

You or your family will be paid an entitlement if you:

  • are permanently incapacitated for all types of work
  • have a terminal illness
  • die

Maximum cover

You can have up to $1,500,000 of Standard Insurance cover. If you also have insurance in Triple S, the total amount of cover you can have in the Triple S scheme, plus the amount you have in the Super SA Flexible Rollover Product, cannot exceed the $1,500,000 maximum.

Remember, if you are working less than 20 hours per week on a regular basis you can apply for Death Only Insurance (not Death and TPD Insurance).

 It’s important you're aware that you are not covered for any pre-existing medical condition in the first six months of active employment.

 

Applying for Death and TPD insurance

To be eligible to apply for Death and TPD Insurance you must:

  • be under 70 and
  • have worked 20 hours or more per week on a regular basis during the past 12 months.

When purchasing insurance you must complete a personal statement about your health and limitations may be applied to your cover for any pre-exisiting medical conditions.

 

You can elect to have Standard or Fixed Benefit Insurance cover.

Cost and value of Standard Death and TPD Insurance

  • The cost of the first three units of cover is $0.75 per unit, per week and additional units are $1 per unit, per week.
  • The value of each unit starts decreasing once you reach age 35.

Cost and value of Standard Death and TPD Insurance 

Age
last birthday
Unit
value ($)
Age
last birthday
Unit
value ($)
Up to 34 75,000 52 22,000
35 72,000 53 20,000
36 69,000 54 18,000
37 66,000 55 16,000
38 63,000 56 14,000
39 60,000 57 12,500
40 57,000 58 11,000
41 54,000 59 24,000
42 51,000 60 10,000
43 48,000 61 9,000
44 45,000 62 8,000
45 42,000 63 7,000
46 39,000 64 6,000
47 36,000 65 5,000
48 33,000 66 5,000
49 30,000 67 5,000
50 27,000 68 5,000
51 24,000 69 5,000
    70+ not offered

 

 

Cost and value of Fixed Benefit Death and TPD Insurance

  • The value of each unit is fixed at $10,000 and doesn’t decrease over time
  • The premium increases with your age.

Cost and value of Fixed Death and TPD Insurance 

Age

last

birthday

Weekly

premium ($)

Age

last

birthday

Weekly

premium ($)

34 & under  0.13 52  0.45
35  0.14 53  0.50
36  0.14 54  0.56
37  0.15 55  0.63
38  0.16 56  0.71
39  0.17 57  0.80
40  0.18 58  0.91
41  0.19 59  1.00
42  0.20 60  1.11
43  0.21 61  1.25
44  0.22 62  1.43
45  0.24 63  1.67
46  0.26 64  2.00
47  0.28 65  2.00
48  0.30 66  2.00
49  0.33 67  2.00
50  0.37 68  2.00
51  0.42 69  2.00

 

 

Continuing your Triple S insurance

If you invest in the Flexible rollover product and make the required insurance election within 60 days of ceasing SA public sector employment and you held Triple S insurance cover on the last day you worked, you can continue the same type and level of  Death and TPD insurance in the Super SA Flexible Rollover Product without having to provide further medical information, provided you meet the required age and employment conditions.

 

Fixed Death and TPD Insurance (closed to new applications since November 2014)

Investors are no longer able to apply for Fixed Insurance units of cover. You'll find more information here.

 

Making a claim

Information about how to make a claim.

 

Related Documents