The main insurance types of cover to know about and consider:
Pays a benefit to your dependants, estate, or legal beneficiaries if you die.
Advantages - Helps to ease financial stress on your loved ones by paying money in a lump sum should the unexpected happen to you.
Pays a benefit if you’re unable to ever work again due to injury of illness.
Advantages - Helps by paying money in a lump sum which you can use to cover the costs of care, rehabilitation, loan repayments and future costs involved with day-to-day living expenses.
Pays a benefit if you’re medically certified as likely to die within 24 months—applies if you have either life cover or TPD.
Advantages - Helps to ease some of the financial stress on your loved ones by providing money in a lump sum which you can use to help with medical treatment and future support for your family.
Pays a replacement income, typically a percentage of your income, if you’re temporarily unable to work due to illness or injury. You can generally only claim on one SCI policy so you should check if you have other SCI cover elsewhere.
Advantages - Helps if you become injured or ill (at or outside of work) and can’t work temporarily. It provides temporary payments to assist you to meet your day-to-day living expenses while you’re not earning an income.
Here are some useful terms commonly used
Download and send these documents to let us know you’d like to change your insurance in super:
Keep insurance cover on low balance super account (less than $6,000) before 1 April 2020
Use this form to choose to keep your insurance offered through your super account even if you're balance is less than $6,000 and you’ve never held an account balance of $6,000 on or after 1 November 2019
Use this form when you want to keep your insurance in super even if your account becomes inactive (Over 16 months without a contribution or rollover).
Use when you want to make a beneficiary nomination to confirm who you’d like to receive your super when you die.
|Learn more about the Plum Personal Plan update to the Total & Permanent Disablement (TPD) definition from 1 July 2019|
|Plum Personal Plan Premium Rates flyer||View the latest Premium Rates for the Plum Personal Plan effective from 1 August 2019|
To learn more about Plum Personal Plan, click here.