Insurance

Superannuation is all about planning for a financially secure retirement. However, there are many circumstances that could affect your financial welfare in the meantime.

Can you imagine the financial difficulties of suddenly being unable to work because of illness, injury or even death? Most of us are not in a position to deal with this kind of financial crisis.

Media Super's insurance aims at helping you protect you and your family against such a financial burden. Insurance is flexible and has been tailored to meet the special work requirements member may have.

Buying your insurance policy through your super fund can be one of the cheapest ways to get covered.

Media Super buys its insurance as a group life, or bulk, policy, so we receive a discount. We pass these savings on to you. You can tailor your cover to suit your needs.

As a Media super member, you can access low-cost insurance cover for:

Death and Total and Permanent Disablement (TPD)

Generally it pays:

• a lump sum to your beneficiaries or Estate if you die; or
• a lump sum if you are 'Totally and Permanently Disabled'*; or
• a lump sum if you are 'Terminally Ill'*.

* These benefits will be paid to you, subject to you also satisfying a condition of release.

Death only

Generally it pays:

• a lump sum to your beneficiaries or Estate if you die.

Pay Protector (income protection)

• Replaces the majority of your salary, including superannuation contributions, if you are unable to work due to illness or injury and are either 'Totally Disabled' or 'Partially Disabled'.

Paying for insurance cover with Media Super is easy – your premiums are simply deducted from your super account balance each month.

For information on premiums and conditions of cover, read the Insurance section of the Member Booklet (Product Disclosure Statement)

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It can be difficult to work out exactly how much insurance you need, and to achieve the right balance between cover and price. As a member of Media Super, you can access some free limited financial advice from Industry Fund Financial Planning.

To find out more, visit Extra member benefits.