Protecting you and your loved ones
Insurance in super may provide financial support to you and your family if difficult times are encountered, including if you pass away, become totally and permanently disabled, are terminally ill or are temporarily unable to work due to injury or illness.
Benefits
There are some benefits of having insurance in super rather than owning it outside of super, such as:
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It can be cheaperGroup buying power can mean lower fees compared to owning insurance outside of super. It can also be tax-effective. Information about the levels of cover and fees are set out in the Insurance Guide. |
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It's convenientBecause your insurance fees are automatically deducted from your super account and not from your take-home pay. |
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Fewer medical checksWe offer a default level of Death and Total and Permanent Disablement superannuation insurance Cover (‘Default Cover’) without any medical or health checks. |
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MetLife 360HealthAustralian Ethical Super members and their families* have access to mental health support**, expert medical advice, nutrition, fitness and mobility services through MetLife 360Health, at no additional cost. * The term ‘families’ consists of children, partner, parents and parents-in-law. ** Mental health assistance services are only available to members aged 18 and above. |
Insurance needs and cost calculator
Calculating an appropriate level of cover may be challenging. Our insurance needs calculator can help you work out how much cover you may need and estimate the cost of your cover.
Types of insurance we offer
While most people insure their car and home, when it comes to life insurance, many people have little or no cover. Think about how you or your family might cope financially if you were not able to work, either temporarily or even permanently, due to illness, injury or death.
Australian Ethical Super offers three types of cover: Death only, Death and Total & Permanent Disablement (TPD), and Income Protection (IP) cover to our members.
How your cover works:
- Death or Death and TPD cover can be provided as unitised cover or fixed cover
- Income Protection cover is provided as fixed cover
Premiums are based on your amount of cover, age, sex at birth and occupation category and for Income Protection cover, the waiting period and benefit period. They are displayed on your statements, online account, and all relevant correspondence and disclosures as part of an item labelled Insurance fees.
Unitised cover (Death only or Death and TPD)
With unitised cover, your insurance is made up of units, where each unit provides a set amount of cover. The total cover you have depends on how many units you hold.
There are two ways to have unitised cover: Default cover and Voluntary cover.
Default Death and TPD Cover (Unitised)
Default cover is designed to provide a basic level of insurance automatically once you meet certain eligibility conditions.
The amount of Default Cover you receive changes as you grow older and your insurance needs change and is determined by an age based unitised cover scale.
Who gets default cover
Default cover generally starts automatically if you:
- are aged 25 to 67
- have at least $6,000 in your super account
- do not have an inactive account
- have not previously cancelled insurance through your account
An inactive account is generally one that has not received any contributions or rollovers for a continuous period of at least 16 months.
For the first 30 days, Default cover is limited to cover for new events only. This limitation is removed after 30 days, provided you meet the conditions outlined in the Insurance Guide.
If you are under 65, you can choose to opt-in to commence Default Cover earlier, before the automatic eligibility conditions are met, by completing an Insurance Opt-in Form.
Please refer to our Insurance in Superannuation Key Facts Sheet, our Insurance FAQs and our Insurance Guide for applicable terms and conditions.
Opting-out of or cancelling Default Cover
If you opt out of Default Cover, your insurance won’t commence automatically. New members have the option to opt out of Default Cover when they join. If you’re an existing member and your Default Cover hasn’t commenced, you can contact us (by phone or email) or you can complete the Insurance Variation Form to opt out of cover commencing. If you require insurance in the future you will need to apply to the insurer and provide health information. Your application may or may not be accepted, and may be subject to conditions or exclusions.
For members who already hold Default Cover and want to cancel their insurance, you can do this online via the member portal, by contacting us (by phone or email) or you can complete the Insurance Variation Form.
Further information about opting out or cancelling cover and how this may impact you or your beneficiaries in the future can be found in our Insurance FAQs.
Voluntary unitised cover (Death only or Death and TPD)
Voluntary unitised cover allows you to apply for a specific number of units of Death cover or Death and TPD cover.
You can apply for voluntary unitised cover if:
- you are not eligible for Default cover, or
- you previously cancelled your insurance, or
- you want to increase the amount of unitised cover you already have
Applications for new or higher cover are subject to acceptance by the insurer and may require health information.
You can also choose to fix your current level of unitised cover, so it does not change automatically over time.
Fixed cover (voluntary)
With fixed cover, you apply for a set dollar amount of insurance that does not change unless you request it.
You can apply for fixed:
- Death cover, or
- Death and TPD cover, or
- Income Protection
When you apply for fixed cover, you’ll need to provide medical information and your application may be subject to loadings, exclusions or other conditions set by the insurer.
If you have Fixed cover, the amount of cover will remain the same regardless of your age until you reach age 61 (subject to maximum insurable age restrictions). From age 61, your TPD cover will reduce each year until it reduces to zero when you turn 70, in line with the insurer’s age‑based reduction schedule.
Types of insurance available
Death cover
Often referred to as ‘Life Insurance’ outside of super, Death Cover pays a lump sum amount to your loved ones if you pass away or suffer from a terminal illness.
TPD cover
Total and Permanent Disablement (TPD) Cover pays a lump sum amount to provide financial support if you suffer an illness or injury that leaves you totally and permanently disabled as defined in the Insurance Guide. Please note, we do not offer standalone TPD Cover and is only offered in conjunction with Death Cover.
Income Protection cover
Income Protection Cover provides you with an income which can help meet your living expenses if you're not able to work for a specified period due to illness or injury. Income Protection Cover needs to be applied for separately, and waiting periods and maximum benefit periods apply.
Please read our Insurance Guide for further information.
Did you know?
You can apply to increase your Default insurance cover or voluntary unitised cover without medical screening by applying for Life Events Cover* or New Member Offer Cover*.
You can also transfer your insurance from another complying super fund*. If you consider transferring your insurance to us, we recommend that you don’t roll over your account balance or cancel your insurance until your super insurance cover has been accepted. You should consult with a financial adviser before making any insurance decisions.
*Eligibility terms and conditions apply and you will be subject to new events cover limitations. To find out more about these options including eliglibilty criteria and how to apply, please refer to our Insurance Guide
Manage your insurance
If you’d like to change or cancel your insurance cover, you can call us on 1800 021 227 to help you through the process. We recommend you speak with a financial adviser before making any changes to your insurance.
You can also manage your insurance through your member portal, by clicking ‘Insurance’ on the dashboard.
Please refer to the Insurance Guide for more information.
Make a claim
Our step‑by‑step process is designed to make lodging an insurance claim clear and straightforward. We’re here to support you through your claim and help you at every stage.
Step 1: Get in touch with us
Start by contacting Australian Ethical on 1800 021 227.
Our team will conduct an eligibility check, talk you through the claims process, what information you may need, and get you started.
Step 2: Submit your claim online
Your Australian Ethical claim case manager will set you up in our insurer MetLife’s online claim portal. From here you can you submit information about your claim and upload any required supporting documents.
Submitting your claim via the online portal helps to:
- track the action you need to take
- make it easier to provide the information needed
- securely upload documents
- track the progress of your insurance claim
Step 3: Claim assessment
Once submitted, your claim will be assessed in line with the policy terms and eligibility criteria. Our insurer, MetLife, will complete this assessment process.
You may be contacted if additional information, clarification, or further evidence is required to support your claim.
Step 4: Outcome and next steps
You’ll be advised of the outcome of your claim in writing, along with any next steps. If your claim is approved, payment will be made in accordance with the policy terms. You may be required to submit additional information to us to finalise the claim.
Choosing who receives your super and Death Cover
If you are a member of Australian Ethical Super, you can complete a Binding Death Benefit Nomination or a Preferred Beneficiary nomination to specify who you would like to receive your super and any Death Cover you have when you pass away, If you do not have any nomination, your benefit will be paid at the discretion of the Trustee to one or more of your dependents and/or legal personal representative. Further information is provided below:
- Binding death nominations – You can complete the Binding Death Nomination Form to nominate your beneficiary/ies. You can nominate one or more dependants or your legal personal representative to be your beneficiary. Please note you need to update your binding nomination every 3 years for it to remain valid. You should consider any tax or other implications in nominating a beneficiary and seek professional advice before doing so.
- Non-binding death nominations (preferred nomination) – As this nomination is not binding, the Trustee has the discretion to pay your money to one or more of your dependants or your legal personal representative (i.e. the executor of your estate), but will give consideration to your preferred nomination.
Your death benefit can only be paid to your dependants or legal personal representative in accordance with superannuation law.
Insurance can help protect you and your loved ones if something unexpected happens. The cover you might receive through your superannuation can provide financial support if you pass away, become totally and permanently disabled, are diagnosed with a terminal illness or can’t work temporarily due to injury or illness. It’s designed to offer peace of mind and financial security, subject to meeting the terms and conditions of the policy.
Importantly, some types of insurance held through super – such as income protection – can help replace part of your regular income if you’re unable to work for a period of time due to illness or injury. These payments can be used to help cover everyday living expenses like mortgage or rent payments, school fees, household bills and other essential costs. By providing an income while you’re unable to work, insurance can help reduce immediate financial pressure and allow you and your family to focus on recovery.
Default insurance through superannuation cover is automatically provided to members aged 25 to 67 who have a super balance of at least $6,000 and who don’t have an inactive account*. While insurance can continue up to age 70, you must be under 67 when the cover first starts.
If you’re younger than 25 or your balance is below $6,000, you can still opt in for cover. All eligibility terms and conditions are explained in the Australian Ethical Insurance Guide.
Your insurance in super remains active as long as your account balance stays above $6,000, you’re aged between 25 and 70 and you continue to receive contributions. These contributions also need to be sufficient to cover your insurance fees – if they don’t, your cover may lapse even if money is still going into your account.
If your balance falls, insurance fees can’t be paid, or no contributions are made for a period of time, your cover may stop.
You can also opt in to keep your insurance active by contacting us, subject to eligibility requirements.
You can change, reduce or cancel your insurance through the member portal, by calling Australian Ethical on 1800 021 227 or by completing the Insurance Variation Form. Before making any changes, you should review how this may affect you or your beneficiaries and seek financial advice. More information about varying or cancelling cover is available in the Insurance Guide and FAQs.
You can apply to transfer your existing super insurance from another complying fund to Australian Ethical. Make sure you don’t cancel your old cover or roll over your balance until your new insurance has been accepted. Eligibility criteria and application steps are outlined in the Insurance Guide.
Still have questions?
You can call us on 1800 021 227 8.30 AM to 5.30 PM AEST/ AEDT Mon-Fri.
* Default insurance cover is subject to New Events Cover (NEC) conditions when it first starts. For the first 30 days, cover may be limited to claims arising from new illnesses or injuries that occur on or after the cover start date. Refer to the Insurance Guide for full details, including definitions and exclusions.