Managing your insurance cover

Protect the people you love the most.

You never know what life's going to throw at you, so having the right insurance cover will help you plan for the unexpected.

Hands Daughter Swing Park 

TelstraSuper's and MLC Life Insurance’s Joint Underwriting Philosophy

TelstraSuper understands our members want to be prepared for unexpected events with the right insurance cover for their needs. We believe every member should be able to access cost effective insurance cover.

Default insurance is offered to eligible members through our insurer, MLC Life Insurance. Eligible members can also apply for voluntary insurance cover through the underwriting process. We’ll do our best to make the application process as simple and straightforward as possible.

TelstraSuper's and MLC Life Insurance’s joint underwriting philosophy is to act in the best interests of our members. We are committed to supporting and guiding members through the underwriting process.

TelstraSuper and MLC Life Insurance work together to:

  • explain the underwriting process simply and in easy to understand terms
  • rely, where possible, on member disclosure during the underwriting process
  • obtain additional medical or financial information, when needed to finalise applications, in a timely and efficient manner.

TelstraSuper will act as your advocate to try and ensure that MLC Life Insurance and any other third parties involved in your application act in accordance with this philosophy.

Why have insurance through your super?

We negotiate bulk rates for our members, so you are likely to pay lower premiums than buying cover directly from an insurer. Depending on the TelstraSuper account you have, you may receive default* Death & TPD cover on joining the fund. The good news is there's generally no paperwork or medical exams to complete for default cover.

What's even better is that any member paid insurance premiums are paid directly from your super account so you won’t have to reduce your take home pay or budget for another payment. Plus you’ll receive a 15% rebate into your super account on any member paid insurance premiums you pay for*. Excludes any premiums covered by additional superannuation contributions paid by your employer. 

MLC Limited** ABN 90 000 000 402, AFSL 230694 ((MLC Life Insurance) provides the Death, Total & Permanent Disablement (TPD) and Income Protection cover for Fund members. TelstraSuper does not receive money or other material benefits (other than claims payments for our members and related costs) from our insurer or reinsurer. The premiums paid by members reflect the cost of the insurance. This avoids any conflict of interest between our members and our insurer.

If this arrangement ever changes, we will make you aware of it by updating this statement on our website, annual report, PDS and Insurance Guide. We may also notify you directly.

* Subject to the ‘At Work’ requirement and other eligibility criteria, conditions and exclusions contained in the relevant insurance policy. See the relevant PDS for further information.

** TelstraSuper’s former group life and Income Protection insurer, TAL Life Limited ABN 70 050 109 450 AFS Licence 237848 (TAL), also insures members for certain claims where a death or disability occurred before 1 July 2020.  

What cover do you have?

The cover you have depends on the TelstraSuper account you have. For more information you can download the full Corporate Plus Insurance Guide and applicable Employer Schedule or Personal Plus Insurance Guide and the relevant Product Disclosure Statement. You can also log in to SuperOnline to confirm what insurance cover you have, the cost of your premiums and what's paid by you and what's covered by additional contributions made by your employer (if applicable). When you log into SuperOnline, you'll also be able to access our dedicated insurance portal (if eligible)* where you can conveniently manage your cover online.

* Eligible members are members with an account that allows insurance cover to be applied under a Policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.

Types of insurance cover

We have 3 different types of insurance cover available. 

Income Protection (IP)

Income Protection insurance provides you with a partial replacement income that helps to support your return to health and work (if applicable), if you become unable to work due to accident or sickness. The replacement income can be up to 75% of your salary (excluding super), with an additional 12%* of your salary (excluding super) paid into your superannuation account. This helps you to cover your daily expenses while still contributing to super while you are off work. Income Protection cover is not available to members in casual employment.

*In the event of an approved IP claim with a Date of Disablement that is prior to 4 April 2024, the SG benefit paid to your TelstraSuper account will be 10% and your total monthly benefit will be 85%.

Learn more about Income protection

Death only or Death & Total and Permanent Disability cover (TPD)

Losing a loved one is never easy. So, leaving behind some financial security will give them some added peace of mind. Death cover is available on its own, or you can bundle it with Total & Permanent Disablement (TPD) cover. Death cover includes cover for terminal illness.

Learn more about Death cover

If you become totally and permanently disabled and you are unlikely to work due to accident or sickness, you could receive a lump sum payment with TPD cover.

Learn more about TPD

Insurance FAQs

  • Changing my insurance cover

    If you want to make changes to your cover:

    1. Read the relevant PDS and Insurance Guide for your membership category and log in to SuperOnline to confirm what insurance you have.
    2. Use the needs calculator to estimate how much insurance you may need.
    3. Use the premium calculator to help estimate what your new premiums will be.
    4. Log into your online account* or
    5. Complete the form below and return it to TelstraSuper.
    *Eligible members only. Or you can download most forms from telstrasuper.com.au/forms.

    Insurance Telephone Application Request

    The form can either be mailed back to us or emailed to [email protected]. Once we have submitted your application to MLC Life Insurance, you will be contacted by a Tele-Underwriting Consultant at a scheduled time, who will guide you through the insurance cover application. This phone call can take up to 30-45 minutes, depending on your responses to the health, occupation and lifestyle questions.

  • Transferring my cover

    If you have insurance cover with another super fund or life insurance company, you can apply to have it transferred across to TelstraSuper.

    For Death Only cover or Death & TPD cover transfers, if your application is successful, you’ll be provided with the equivalent amount of voluntary cover (in addition to any voluntary cover already held in TelstraSuper), as provided by your previous super fund or insurer. A cap of $2,000,000** applies on all transfers. Log into your online account* or complete the Transfer External Insurance Application to apply.

    For Income Protection cover transfers, if your application is successful, you’ll be provided with the equivalent amount of voluntary cover and the same waiting period and benefit period† in TelstraSuper as provided by your previous super fund or insurer (subject to the maximum amounts and periods permitted in the policy).

    This cover will replace any existing Income Protection cover you have in TelstraSuper and will be a fixed amount of cover†. A cap of $15,000** applies per month. Complete the Transfer External Insurance Application to apply.

    Keep in mind certain occupations are not eligible for insurance transfer. So don't cancel your existing cover until you receive written confirmation that your insurance has been transferred. Refer to the relevant Insurance Guide for more information.

    *Eligible members only. Or you can download most forms from telstrasuper.com.au/forms.

    † Income Protection cover transfers are a fixed amount of voluntary cover and are not based on any salary for insurance purposes reported to TelstraSuper by your employer. The maximum amount of IP cover you can transfer is 87% of your current salary or $15,000 per month, whichever is lower. The waiting period from the cover you wish to transfer will be matched to the same waiting period in TelstraSuper. If the transferred waiting period is not available with TelstraSuper, the waiting period that will apply will be the next longest waiting period. If the benefit period you wish to transfer is not available with TelstraSuper, the benefit period that will apply will be the next shortest benefit period. Self-employed members (unless you are both a director and employee of a private company) are not eligible to transfer IP cover.

    ** Your cap might be lower in certain circumstances as set out in the policy.

  • Cancelling or reducing my insurance cover

    You can cancel or reduce your existing insurance via your online account*.

    To cancel or reduce your existing insurance cover you can also:

    • call us on 1300 033 166; or
    • send an email to [email protected] letting us know you want to cancel or reduce your cover - please provide your membership number and contact details in the email; or
    • fill in this form and either email or securely upload via your SuperOnline account.
    *Eligible members only. Or you can download most forms from telstrasuper.com.au/forms.

    It's important to note that if you cancel any insurance, including any default cover, and wish to reapply at a later date, evidence of your health, occupation and lifestyle will need to be provided to MLC Life Insurance for assessment. MLC Life Insurance may place an exclusion or premium loading on cover or may decline cover as a result of their assessment.

    If you cancel your cover:

    • you will not be able to make a claim for insurance benefits for events or conditions that arise after your cover has been cancelled
    • we will no longer deduct insurance premiums for the cover you have cancelled
    • your ability to restart your cover will be subject to a health assessment and acceptance by our insurer who may place an exclusion or premium loading on cover and you may not be able to get cover
    • if you are replacing your cover with alternative cover, you should not cancel your existing insurance until the replacement cover is in place.

    Before you cancel your insurance, you may wish to discuss your decision with a financial adviser from TelstraSuper Financial Planning Adviser on 1300 033 166.

  • Making a claim

    Making an insurance claim can be a stressful time. The first starting point is to contact our Member Services team on 1300 033 166 who can explain how you can submit your claim via our online claims portal*. You can find out what kind of cover you have and how much cover you have by logging into your SuperOnline account. It's important to consider your cash flow needs if you're finishing work due to illness or injury or face a death in the family. TelstraSuper Financial Planning can provide advice.

    *Our online claims portal is available for members who have a date of disablement on on or after 1 July 2020. For disability claims with a date of disablement prior to 1 July 2020, a different process is required. Call us on 1300 033 166 for more information.
  • Why have insurance through you super?

    We negotiate bulk rates for our members so you are most likely to pay lower premiums than buying directly from an insurer. Depending on the membership category you're in, you may receive default insurance cover when you join the fund. This means that there's no paperwork or medical exams to complete*.

    What’s even better is that insurance premiums are paid directly from your super account so you won’t have to reduce your take home pay or budget for insurance through TelstraSuper.

    Since 1 July 2020, MLC Limited ABN 90 000 000 402 AFS Licence 230694 (MLC Life Insurance) has been TelstraSuper’s main group life and group Income Protection insurance provider. However, TelstraSuper’s former group life and group Income Protection insurer, TAL Life Limited ABN 70 050 109 450 AFS Licence 237848 (TAL), insures members for certain claims where a death or disability occurred before 1 July 2020.

    *Further eligibility criteria and terms and conditions may apply. For more information read the relevant PDS and Insurance Guide.

We're here to help

At TelstraSuper we're here to help you build a secure financial future. Before making any significant financial decisions we would encourage you to speak to TelstraSuper Financial Planning that has a team of phone based Advisers who can provide you with simple advice to help you work out how much insurance you need.  There's no additional cost for our phone based service as this is included in your TelstraSuper membership.  If you’d like to discuss your insurance or if you have any other financial advice queries contact us on 1300 033 166 or fill in our online contact form.

Online contact form

Related topics

Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.