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How much does insurance cost?

Cost of premiums

The cost of your insurance (otherwise known as premiums) will depend on your age, gender, occupation, medical history, health factors, income and employment arrangements.

Find out more about the cost of your insurance

Plum Personal Plan, BHP Super Plan (Retained Benefits Division & Spouse Division) and BHP Superannuation Fund (Retained Benefits Division)

Plum Super members

Log in to your online account for a copy of your plan’s Premium rates flyer, detailing the costs of your insurance.


Here’s a question our members asked about the cost of their insurance

  • It’s important to find a balance between super savings and the level of your insurance cover. This is because the more insurance premiums you pay, the less monies going into your retirement savings.

    The type and amount of insurance cover that’s right for you depends on your personal, family and financial circumstances, as well as your income and lifestyle. It’s also important to consider that other factors such as age will cause your premiums to increase over time.

    As your circumstances change, you may need more, or less, cover – that’s why a regular review is so important.

    For example, an expanding family or a reduction in personal debt may influence your choice in the type and amount of cover you have. It’s important that you have the insurance cover that meets your needs at a cost that doesn’t unnecessarily diminish your retirement savings.

    One simple check is to calculate your annual insurance premium as a percentage of your annual gross salary.

    If your gross annual salary is $75,000, for example, you might prefer to keep your annual insurance premiums to under $750.

    It’s easy to check the percentage of your annual salary you’re paying in annual insurance premiums: (your monthly premium amount x 12) / (your gross annual salary) x 100 = percentage of premiums paid.

We’re here to help

Use our insurance needs calculator to find out the cover that’s right for your lifestyle.

Log in to your online account to check out your relevant Insurance Guide.