Fixed Death Only Insurance - Spouse (closed to new applications since November 2014)

Spouse members are no longer able to apply for Fixed units of cover. However, members who had Fixed Insurance cover prior to the cessation of this offering on 13 November 2014, retain their current level of cover.

The value of Fixed Death Only cover is $75,000 per unit. The value of your insurance doesn’t change or decrease with your age, which means each unit will always be worth $75,000.

 

 Cost of Fixed Death Only Insurance

  • The cost of each unit depends on how old you were when you purchased it
  • Once you have Fixed cover the cost is fixed
  • The cost is deducted from your account

All fixed insurance cover ceases at age 65.

Cost of Fixed Death Only Insurance Units  

Units purchased at age: Cost/week ($) Units purchased at age: Cost/week ($)
20 and under 0.55 43 1.90
21 0.55 44 2.00
22 0.55 45 2.00
23 0.55 46 2.20
24 0.60 47 2.40
25 0.60 48 2.60
26 0.65 49 2.80
27 0.70 50 3.00
28 0.75 51 3.00
29 0.80 52 3.50
30 0.85 53 3.50
31 0.90 54 4.00
32 0.95 55 4.50
33 1.00 56 5.00
34 1.10 57 5.50
35 1.10 58 6.00
36 1.20 59 6.50
37 1.30 60 7.00
38 1.40 61 7.50
39 1.50 62 7.50
40 1.60 63 8.00
41 1.70 64 8.00
42 1.80 65 not offered

 

 

Find out how much you're covered for

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 

  

Increasing cover

Members with Fixed insurance can only increase their level of cover by cancelling their Fixed Insurance and applying for either Standard or Fixed Benefit Insurance cover. You cannot mix units of Fixed cover with any other type of cover at the same time. Members should be aware that unlike Fixed Insurance cover, the value of Standard Insurance cover decreases over time and Fixed Benefit Insurance premiums increase over time.

 

Changing cover

If you have Fixed Insurance you can also:

  • Decrease your level of Fixed Insurance cover
  • Transfer to Standard or Fixed Benefit Insurance cover
  • Cancel your Fixed Insurance cover.

You can transfer your existing level of cover to Standard or Fixed Benefit Insurance at a value that is as close to but not exceeding your current level of cover at any time without having to provide medical information and any existing limitations will continue to apply. 

However, if you want to increase your level of insurance cover, you will need to apply and provide medical information (limitations may apply to additional units).

If a member with Fixed Insurance (closed to new applications since November 2014) cover chooses to change their insurance cover to Standard Insurance or Fixed Benefit Death and TPD Insurance, they will not be able to transfer back to Fixed Insurance in the future.

 

Related Documents