A. Buying insurance through your super fund is optional but it may lead to cheaper premiums.
Death cover. This 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.
Total and Permanent Disablement (TPD) cover. This provides a lump sum cash payment if you’re permanently unable to work due to illness or
injury.
Income Protection (IP) cover. If you’re unable to work after a 90-day waiting period, Income Protection Insurance pays up
to 75% of your salary in monthly benefits. You can take up TDP with death cover (i.e. not on
a standalone basis).
A. We know it isn’t a pleasant thought, but if you were to shuffle off this mortal coil, it’s
worth considering what you’ll leave behind for the people who made it all worthwhile.
The two main things to consider are:
1. your dependants – children, spouse or other family members,
2. your debts – unfortunately you can’t take these with you, so someone has to pick up the
tab for any credit cards, mortgage payments or other loans you might have.
How much? It’s an individual thing, and a good financial advisor should be able to help work out what
you might need.
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.
