Income Protection cover

If an illness or injury stops you from working in your regular occupation, you may need Income Protection insurance to help cover the costs of everyday living while you’re temporarily unable to work.

Income Protection insurance can provide you with a partial replacement income that will help support your return to health and work (if applicable), if you become unable to work due to sickness or an accident.

Protect your income

The replacement income can be up to 75% of your salary excluding super, with an additional 12%^ of your salary (excluding super) to be paid to your superannuation account.*

You can receive payments for either two years (default benefit period) or five years after your chosen waiting period (30, 60, 90 or 120 days), as long as you continue to meet the relevant insurance policy's definition of total disablement or partial disablement (if applicable). Note that for Corporate Plus members (people who work for TelstraSuper Corporate Plus employers), the benefit period for default Income Protection cover is 2 years, with a 90 day waiting period.

Find out more about making changes to your Income Protection.

You don't have to be permanently unable to work to get Income Protection payments and you may be eligible for payments while you are waiting for a TPD claim to be assessed. Income protection payments will be reduced by the amount of certain other payments you receive or are entitled to receive (other disability income) during a payment period (such as sick leave, workers' compensation or benefits payable under other Income Protection policies). Other payments (such as social security benefits and motor accident compensation) do not reduce Income Protection benefits.

If you are under 25 years of age or have an account balance that is less than $6,000, you must opt in within 120 days to receive default insurance cover subject to 'At Work' requirements. If you opt in outside of 120 days, you will need to answer risk control questions subject to acceptance by our insurer. An opt-in is not required for Income Protection insurance where insurance premiums are covered by additional employer contributions.

You may also be able to transfer any externally held Income Protection or Death only or Death & TPD insurance to TelstraSuper. For more detailed information refer to the relevant Insurance Guide

Income protection insurance is available to:

  • Corporate Plus members (people who work for TelstraSuper Corporate Plus employers)
  • Personal Plus members (accumulation members who are not Corporate Plus members)
  • Division 5 Defined Benefit members and former Defined Benefit members transferring from Division 5
  • Income Protection cover is only available to former Defined Benefit members transferring from Division 2 via application and acceptance by our insurer
  • Income Protection is not available to members who have attained age 65.

Further eligibility criteria and terms and conditions may apply. For more information on Income Protection read the relevant PDS or Insurance Guide.

* Income Protection cover is subject to a maximum monthly benefit of $50,000 for a two year benefit period and a monthly benefit of $30,000 for a five year benefit period

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


Need help with income protection?

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 help you work out how much insurance you need. 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. There's no additional charge for our general or simpler personal phone based* advice service as this is included in your TelstraSuper membership. *This is general and simple personal advice about your TelstraSuper account over the phone. Simple personal advice is advice about contributions, investment options and insurance cover within your TelstraSuper account.

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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.