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Insurance.

Insurance for some of the nastier things in life can be bought through Virgin Super.  Buying it this way may be cheaper than going out solo, as it’s paid directly out of your super account rather than after-tax dollars.

Virgin Super’s insurer is ING Life Limited.

We’ve secured great rates on insurance with ING Life.  Part of the global ING Group, ING Life is a leading insurer in the Australian marketplace.

Types of insurance.

There are three types of insurance and none of them make you think happy thoughts, so just grit your teeth.

You can choose one or a combination.

Income protection

If you’re unable to work after a 90-day waiting period due to temporary illness or injury, Income Protection Insurance pays up to 75% of your salary, in monthly benefits.
 

Total permanent disablement

Provides a lump sum cash payment if you’re permanently unable to work due to illness or injury.   You can take up TDP with death cover (i.e. not on a standalone basis).
 

Death

Provides a lump sum cash payment when you die or if you’re diagnosed with a terminal illness, meaning you’ll die within six months. You can take up TDP with death cover (i.e. not on a standalone basis).
 
 
Eligibility
Insurance Age and employment eligibility Maximum cover
Maximum cover If you’re aged anywhere from and including sweet 16 and up to a hearty 65. $5,000,000 lump sum
Total permanent disablement If you’re aged from and including sweet 16 and up to a hearty 65.

And working either full time or at least 15 hours per week part time.		 $2,000,000 lump sum for total permanent disablement.

Plus: $5,000,000 lump sum for death.
Income protection If you’re aged from and including sweet 16 and up to a hearty 65.

And working either full time or at least 15 hours per week part time.		 $20,000 per month

Or: 75% of salary paid per month (which ever is the lesser amount)
 

How to apply.

You’re in the morbid/realistic/fatalistic groove.  Great, we’d love to hear from you.


Death

Insured up to and including $350,000:
  • new members simply complete the Virgin Super online application form.
  • existing members - call us on 1300 652 770 between 8am and 8pm EST Monday to Friday.
Insured from $350,001 up to and including $5,000,000:
 

Total permanent disablement

Insured from $350,001 up to and including $2,000,000:
 

Income protection

Download, complete and return the Personal Health Statement (PDF 457Kb).
 
 

Figuring out insurance premiums and ferreting out more info.

Your premium is assessed on a range of factors, including:

  • health
  • income
  • occupation
  • how much cover you want

To get the full picture on insurance through super, call 1300 652 770 or check out the Product Disclosure Statement (PDF 587Kb) - it contains lots of juicy detail, like when and how you can make a claim, how to figure out costs, when and for how long you’re covered, and more.

 
 


Prepared by Virgin Money Financial Services Pty Ltd (ABN 51 113 285 395; AFSL 286869) for Trust Company Superannuation Services Limited
(ABN 49 006 421 638, AFSL 235153, RSE Lic. No.L0000635) as Trustee for Virgin Superannuation (RSE Reg. No. R1001440).

You should consider our Product Disclosure Statement which can be found on our website.
Please note this information does not constitute personal financial product advice, and you may wish to consult your financial adviser before making a decision
about whether Virgin Superannuation fits your objectives, financial situation and needs.
Call Virgin Super on 1300 652 770