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Death Only Insurance provides cover to help ease the financial burden in case of your death.

If you’re a Triple S spouse member aged under 70, you can purchase Standard or Fixed Benefit Death Only Insurance, which pays a lump sum in the event of your death.

Regular Triple S members are not eligible to apply for Death Only Insurance.

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 cents per unit, per week
  • The value of each unit starts decreasing once you reach age 35

All Fixed Insurance ceases at age 65, however eligible members will receive default Standard Death and TPD Insurance from age 65, which will continue to age 70. Alternatively, Fixed Insurance cover can be transferred to the Standard or Fixed Benefit Insurance options prior to turning age 65 and that new cover will continue to age 70.

Value of Standard Death Only Insurance Units

Age last

birthday

Unit value ($) Weekly premium

Age last

birthday

 Unit value ($)

Weekly premium

Up to 34 75,000 0.50 52 22,000 0.50
35 72,000 0.50 53 20,000 0.50
36 69,000 0.50 54 18,000 0.50
37 66,000 0.50 55 16,000 0.50
38 63,000 0.50 56 14,000 0.50
39 60,000 0.50 57 12,500 0.50
40 57,000 0.50 58 11,000 0.50
41 54,000 0.50 59 10,000 0.50
42 51,000 0.50 60 9,000 0.50
43 48,000 0.50 61 8,000 0.50
44 45,000 0.50 62 7,000 0.50
45 42,000 0.50 63 6,000 0.50
46 39,000 0.50 64 5,000 0.50
47 36,000 0.50 65 5,000 0.50
48 33,000 0.50 66 5,000 0.50
49 30,000 0.50 67 5,000 0.50
50 27,000 0.50 68 5,000 0.50
51 24,000 0.50 69 5,000 0.50
      70+ not offered

 

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 each birthday from age 35 onwards.

Value of Fixed Benefit Death Only Insurance Units 

Age last

birthday

Unit value ($) Weekly premium

Age last

birthday

 Unit value ($)

Weekly premium

up to 34 10,000  0.07 52 10,000  0.23
35 10,000  0.07 53 10,000  0.25
36 10,000  0.07 54 10,000  0.28
37 10,000  0.08 55 10,000  0.31
38 10,000  0.08 56 10,000  0.36
39 10,000  0.08 57 10,000  0.40
40 10,000  0.09 58 10,000  0.45
41 10,000  0.09 59 10,000  0.50
42 10,000  0.10 60 10,000  0.56
43 10,000  0.10 61 10,000  0.63
44 10,000  0.11 62 10,000  0.71
45 10,000  0.12 63 10,000  0.83
46 10,000  0.13 64 10,000  1.00
47 10,000  0.14 65 10,000  1.00
48 10,000  0.15 66 10,000  1.00
49 10,000  0.17 67 10,000  1.00
50 10,000  0.17 68 10,000  1.00
51 10,000  0.21 69 10,000  1.00
      70+ not offered

 

  

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-exisiting medical conditions.

 

Find out how much cover you have - and how much you need

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)

You are no longer able to apply for Fixed Insurance units of cover.

 

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.

Triple S Spouse members 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

For information on making a claim click here.

 

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