Getting insurance in super with us
There are multiple ways you can get insurance with us—automatically, or by applying for cover.
Automatic insurance
If you’re a member with us, you could be eligible for automatic insurance.
It’s important to know that when you have insurance cover with us—you can apply to make changes to your cover at any time.
To find out if you’re eligible for insurance cover, review the products listed below to see what we offer and the insurance that’s available:
Plum Corporate Plans
How do I get insurance in super with Plum Super?
We’ll work with your employer to choose an Insurer that’s right for your insurance in super needs.
Our job is to work with a number of major insurance companies to make sure that we have insurance that best suits your industry.
We’ll tailor the insurance benefits to the needs of your employment—so that they best suit your occupation, type of work and safety risks.
If you’re a Plum Corporate Plan member, log in to your online account to check if you have insurance in super. To find out more about your plan’s details, you can also refer to your relevant Insurance Guide.
Plum Personal Plan—transferred members
This information relates to automatic insurance cover for Plum Personal Plan members who’ve transferred from a Plum Corporate Plan.
Find out which insurance types have automatic cover.
-
What is it? Pays a lump sum if you’re medically certified as likely to die within 24 months.
We'll pay your Death benefit early (up to $5 million) if you're diagnosed with a Terminal Illness. Your Death and TPD insurance will then be reduced by the amount of this payment, and your ongoing premiums will reduce accordingly.
Is automatic insurance included? When you leave your employer, any Death insurance in your employer Plan may be transferred to the Plum Personal Plan. Cover can start from age 15 to 64 Cover ends at age 65 Are pre-existing medical conditions covered? There are some instances where pre-existing conditions won’t be covered. Please refer to your Insurance Guide for more information about important exclusions. Can cover continue if employer contributions are not received? Yes, but cover cannot be provided if your account hasn't received a contribution or rollover for 16 consecutive months (unless you elect for insurance to continue by completing a Choose to Keep My Insurance Cover form). Does work status at date of injury or illness affect cover? No Is cover provided if a claim has previously been paid under the same type of cover? No Is there a period of absence from work due to illness or injury before a claim can be made? No
-
What is it? Pays a lump sum to your dependants or legal representatives (such as the executor of your estate), if you pass away.
Is automatic insurance included? When you leave your employer, any Death insurance in your employer Plan may be transferred to the Plum Personal Plan. Cover can start from age 15 to 64 Cover ends at age 65 Are pre-existing medical conditions covered? There are some instances where pre-existing conditions won’t be covered. Please refer to your Insurance Guide for more information about important exclusions. Can cover continue if employer contributions are not received? Yes, but cover cannot be provided if your account hasn't received a contribution or rollover for 16 consecutive months (unless you elect for insurance to continue by completing a Choose to Keep My Insurance Cover form). Does work status at date of injury or illness affect cover? No Is cover provided if a claim has previously been paid under the same type of cover? N/A Is there a period of absence from work due to illness or injury before a claim can be made? No
-
What is it? Pays a lump sum if you’re unable to work ever again due to illness or injury.
Is automatic insurance included? When you leave your employer, any TPD insurance in your employer Plan may be transferred to the Plum Personal Plan. Cover can start from age 15 to 64 Cover ends at age 65 Are pre-existing medical conditions covered? There are some instances where pre-existing conditions won’t be covered. Please refer to your Insurance Guide for more information about important exclusions. Can cover continue if employer contributions are not received? Yes, but cover cannot be provided if your account hasn't received a contribution or rollover for 16 consecutive months (unless you elect for insurance to continue by completing a Choose to Keep My Insurance Cover form). Does work status at date of injury or illness affect cover? Yes
Your claim may be assessed differently depending on whether you’ve been working in paid employment or not
Is cover provided if you have been paid or you are eligible to claim a disability benefit under the Plum employer plan? No Is there period of absence from work due to injury or illness before a claim be assessed? Yes
3 months
-
What is it? Provides a replacement income, if you’re temporarily unable to work due to illness or injury.
Is automatic insurance included? When you leave your employer, you'll need to apply to keep your SCI cover in the Plum Personal Plan. We'll send you further information about what you'll need to do to keep your SCI cover in the materials supplied to you at the time you leave your employer. You also must be working at least 15 hours per week to be eligible for SCI cover. Cover can start from age 15 to 64 Cover ends at age 65 Are pre-existing medical conditions covered? There are some instances where pre-existing conditions won’t be covered. Please refer to your Insurance Guide for more information about important exclusions. Can cover continue if employer contributions are not received? Yes, but cover cannot be provided if your account hasn't received a contribution or rollover for 16 consecutive months (unless you elect for insurance to continue by completing a Choose to Keep My Insurance Cover form). Does work status at date of injury or illness affect cover? Yes
You must be employed for at least 15 hours per week to claim SCI benefits
Is cover provided if a claim has previously been paid under the same type of cover? Yes Is there a waiting period before a claim can be made? Yes
Check your applicable Insurance Guide for waiting period details
Making sure you're eligible
To be eligible for insurance cover:
- You must be an Australian Resident or eligible to work in Australia.
- Automatic cover only applies to cover transferred from your employer plan provided you haven’t ceased employment with your employer due to ill health or injury.
- To be eligible for Salary Continuance Insurance (SCI) benefits, you must be working at least 15 hours per week and you must have ceased work due to ill health. SCI cover will only be provided automatically if you previously held it in your Plum Super employer plan, and tell us you want to keep it when you join the Plum Personal Plan.
- Your SCI benefit may be reduced by benefits received or amounts that you’re expected to receive from other sources. This means that your total benefit won’t exceed the Monthly benefit that you’re entitled to. For more information about what payments may reduce your SCI benefit, please refer to the Insurance Guide.
- It’s important to make sure that you don’t have multiple SCI policies (also called income protection) that you may not need or be able to claim on. If you have SCI or income protection cover elsewhere, it may impact your ability to claim benefits under any SCI provided here.
- We’re not able to provide automatic insurance cover to super members until you’re at least age 25 and your account balance reaches $6,000. If you want insurance cover, you’ll have to apply and be assessed by our insurer.
- We can’t continue to provide insurance cover if your super account has been inactive for 16 months, unless you let us know in writing that you’d like to keep it.
- Insurance cover in the Plum Personal Plan is subject to the eligibility requirements, terms, conditions, exclusions and limitations set out in the insurer’s policy document.
For more information about the eligibility requirements, how much you can apply for, what you’re covered for, when insurance starts and stops, limitations and exclusions and your insurance options—please refer to your Insurance Guide.
Plum Personal Plan—family members
If you’re a spouse or family member in the Plum Personal Plan, and you’d like to get insurance in super with us—you’ll need to apply for it.
The types of insurance cover that we offer (Terminal Illness, Death, TPD and SCI) can start from age 15 to 64 and end at age 65.
To apply for cover, review and complete the Insurance form - Plum Personal Plan. If you’d like to transfer your cover from another provider, complete the Transfer Your Insurance Form.
MLC Limited provides this insurance cover. As part of the application for insurance cover, you may need to satisfy the Insurer’s health evidence requirements. The insurance application form will ask questions about your age, job, medical history, family history, lifestyle and if you take part in any high-risk sports or hobbies. It’s important to let us know about anything that could reasonably impact the decision to insure you.
How much insurance do you need?
We encourage you to regularly review your type and level of cover to make sure it meets your current and future financial needs.
The insurance cover that’s right for you depends on your personal, family and financial circumstances, as well as your income and lifestyle. You can regularly review your account and your insurance cover so that it continually meets your needs—especially when your circumstances may change.
Apply to increase your insurance without health evidence
When you get married, buy your first home or have a child, life can change dramatically—as well as your insurance needs.
We know how important it is to make sure you and your family are protected. That’s why when big things like these happen, some plans offer a way to apply to increase your Death and Total & Permanent Disablement (TPD) insurance without providing health evidence.
To find out if this applies to you, and to see a full list of life events, please refer to your Insurance Guide.
If you’d like to increase your insurance cover, complete the Life Events Cover Form in your account online within 60 or 90 days (depending on your plan) of the life event occurring.
Consider seeking financial advice
A financial adviser can help you decide if insurance cover is right for you, as well as help recommend the right products. They also review your insurance needs regularly and can help you adjust your cover to suit you. With experience in handling complexity, a financial adviser can also help you through the application process.
If you’d like to get in touch with a financial adviser, contact us.
Considerations
Cost of premiums
Before taking out insurance, you should consider the cost of premiums and the impact to your retirement savings.
Insurance Guide
It’s important to refer to your Insurance Guide for more details about your insurance conditions.
Consolidate your insurance
Check if your plan provides this option by logging in to your online account and look for the Transfer Your Insurance Form.
Call us on 1300 55 7586 opens in new window|tel: 1300557586 Monday to Friday 8am-7pm AEST (8pm daylight savings time).
Request a call back opens in new window and we’ll be in touch.
