You never know what life's going to throw at you, so you can’t plan for the unexpected. What you can do is make sure you have a cost effective insurance cover in place should life take an unexpected turn. After all -- who'd pay the bills if you can’t work?
What's the right amount of cover for you?
To work out the cost of your cover to suit your individual needs, enter a few details into our insurance calculator. You can also view your insurance details online by logging into your SuperOnline account.
Why have insurance through your super?
Insurance allows you to take control and make sure you're covered for whatever life throws at you.
We negotiate bulk rates for our members, so you pay lower premiums than buying direct from an insurer. Depending on the membership category you're in, you may receive base* cover automatically on joining the fund. So the good news is there's no paper work or medical exams to complete.
What's even better is that your insurance premiums are paid directly from your super. So you won't have to reduce your take home pay or budget for yet another insurance policy.
If you're an employee of Telstra, Sensis (employed prior to 1 July 2014) or Foxtel your insurance premiums for base cover are paid for by your employer†.
TAL Life Limited ABN 70 050 109 450 (TAL) provides the Death, Total & Permanent Disablement (TPD) and Income Protection cover for the fund.* Subject to the ‘At Work’ requirement and other eligibility criteria, conditions and exclusions contained in the Policy.
†Except for employees of Sensis (new employees from 1 July 2014), 1300 Australia, Multi Channel Networks, HealthConnex and Chief Entertainment and Telstra SNP Monitoring, Emerging Systems, iCareHealth, Telstra ReadyCare and HealthIQ where premiums will be deducted from your account quarterly in arrears or when you leave Telstra Super Corporate Plus.
What cover do you have?
The cover you have depends on the membership category you're in. The table below gives you a guide to what insurance is available in each category or for more information you can download the full Corporate Plus Insurance Guide or Personal Plus Insurance Guide or the relevant Product Disclosure Statement .
Base level Death cover
|Option top-up Death cover||Base level TPD cover||Option of top-up TPD cover||Income Protection cover||Transfer external cover to TelstraSuper||Life Events cover|
TelstraSuper Corporate Plus
Members who work for Telstra or related company
TelstraSuper Personal Plus
Members who have left Telstra or a related company or relatives of Telstra members
Members receiving an income stream
TelstraSuper Division 2
Defined Benefit members
TelstraSuper Division 5
Defined Benefit members
Sensis Super Plus - Defined Benefit
Defined Benefit Members
* Only available to members employed on a full-time or permanent part-time basis.
^TelstraSuper RetireAccess Term Allocated Pension members are not entitled to any insurance cover.
Types of insurance cover
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 10% 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 is not available to members in casual employment.
Total and Permanent Disability cover (TPD)
If you become totally and permanently unlikely to work due to accident or sickness, you could receive a lump sum payment with TPD cover. You also have the option of combining Death & TPD cover.
Death cover (including terminal illness*)
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.
*not available to Defined Benefit members.
Life events cover
We also offer life events cover for when major milestones come along. So if you're getting married, having a child, or taking on a mortgage* you have the opportunity to apply for additional Death only, or Death & TPD, cover without providing medical evidence. When you're undergoing any significant life event, it can be a good time to check in with us and reassess your insurance needs.
*other life events are specified in the relevant insurance policy
About your insurance
Changing my insurance cover
If you want to make changes to your cover:
- Read the relevant PDS and Insurance Guide for your membership category and log in to SuperOnline to confirm what insurance you have.
- Use the premium calculator to help estimate what your new premiums will be.
- Use the needs calculator to estimate how much insurance you may need.
- Log into your online account* or
- Complete the form below and return it to TelstraSuper.
The form can either be mailed back to us or emailed to firstname.lastname@example.org. 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 medical, health and lifestyle questions.
Transferring my cover
If you have Death only or Death and TPD insurance cover with another super fund or life insurance company, you can apply to have it transferred across to TelstraSuper.
A cap of $2 million on all transfers applies. Any transferred Death only or Death and TPD cover will apply in addition to any existing cover you currently hold with TelstraSuper. Log into your online account* or complete the Transfer External Insurance Application to apply. Refer to the relevant Insurance Guide for more information.
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.*Eligible members only. Or you can download most forms from telstrasuper.com.au/forms.
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@example.com 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, fax or mail back to us.
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 occupation, health 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. 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.
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 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 insurance through TelstraSuper.
If you're an employee of Telstra, Sensis (employed prior to 1 July 2014), Telstra Purple (employees from heritage Kloud brand who held an active account on 31 May 2019) or Foxtel, your default level insurance premiums are paid for by your employer. From 1 July 2020, MLC Limited ABN 90 000 000 402 AFS Licence 230694 (MLC Life Insurance) is 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