Death Only Insurance provides cover to help ease the financial burden in case of your death.
Flexible Rollover Product spouse investors aged under 70 are eligible to purchase Death Only Insurance, which pays your partner or Estate a lump sum in the event of your death.
You can choose one of two types of cover, Standard or Fixed Benefit Insurance cover, which differ in value and cost.
The cost of your insurance is automatically deducted from your account every fortnight.
Cost and value of Standard Death Only Insurance
- The cost is $0.50 per unit per week
- The value of each unit starts decreasing once you reach age 35
Value of Standard Death Only Insurance units
|One unit ($)||Age
|One Unit ($)|
|Up to 34||75,000||50||27,000|
Cost and value of Fixed Benefit Death Only Insurance
- The value of each unit is fixed at $10,000 and doesn’t decrease over time
- The premium increases with your age.
Value of Fixed Benefit Death Only Insurance units
|Unit value ($)||Weekly premium||
Unit value ($)
|up to 34||10,000||0.07||52||10,000||0.23|
Applying for Death Only Insurance
To apply to purchase Death Only Insurance you must complete a personal statement about your health and limitations may be applied to your cover for any pre-existing medical conditions.
Find out how much you're covered for
You can use the Insurance Calculator to work out whether it’s enough to meet you or your family’s needs should the unexpected happen.
Login to the secure member portal to find out how much you’re currently covered for.
Finding the current value of your insurance
Once you're logged into the secure member portal:
- Click on Triple S under Account Information
- This will take you to the My Account Summary page
- Scroll down and click on the + sign next to the heading Insurance Summary
Your insurance amount will be displayed
Fixed Death Only Insurance (closed to new applications since November 2014)
Spouse members are no longer able to apply for Fixed Insurance units of cover. You’ll find more information here.
Insurance and beneficiaries
Should you die, your entitlement will be paid to your surviving spouse and/or a putative spouse. Should you not have a partner, the entitlement will be paid to your Estate.
Flexible Rollover Product investors can nominate for their death benefit to be paid to their nominated Legal Personal Representative (LPR) (ie Estate). By nominating your LPR, the death benefit will be paid to your Estate rather than your spouse and distributed according to your Will, or if you do not have one, the Statutes. Nominating an LPR is not the same as nominating a beneficiary. The rules do not allow you to nominate specific beneficiaries.
Making a claim
How to make a claim should the unexpected happen.