Why is my insurance through super so important?

The benefits of life, income and disability insurance speak for themselves – nobody wants to consider a future where you are unable to provide for yourself and your family. But, for many, getting the right cover can take too long and cost too much.

That's why super funds offer practical policies designed to protect you and your family from financial strain when you're at your most vulnerable. The most commonly bundled policies include life insurance, total and permanent disability insurance, and income protection.

Super savings

Arranging your insurance in this way is relatively straightforward because you don't have to budget for insurance with your take-home pay when premiums are taken out of your super balance. 

Meanwhile, insurers create a number of efficiency improvements by covering a large number of people – every fund member – in bulk, and these savings are passed on to you!

Straightforward access

Access to insurance through super is also straightforward. Medical examinations are rarely necessary for default cover, for instance. 

What’s more, funds can often provide insurance to members who might otherwise struggle to find affordable cover, such as construction workers or those in the emergency services.

Getting the most out of your super

With such significant savings on offer, it could make sense to increase your level of cover. In any case, it’s certainly worthwhile evaluating the policies offered through your fund and scrutinising the benefits you may receive in the event you need to claim. 

By making the most of the insurance on offer through your fund, it's never been easier for Australians to secure a happy retirement and peace of mind at the same time. 

The information provided in this fact sheet is general advice only and does not take into account your individual needs, objectives or financial situation. You consider the advice and your own needs prior to taking any action.  You should also read a Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making a decision to purchase or continue to hold any financial product including insurance or superannuation.