Virgin Super
Making your super work harder for you
Insurance
Insurance for some of the nastier things in life can be bought through Virgin Super. Buying insurance this way may be cheaper than going out solo, as it's paid directly out of your superannuation account rather than after-tax dollars from your personal savings.
Types of insurance
There are three types of insurance with Virgin Super and you can choose one or a combination.
| Death cover | 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. We recommend if you haven’t done so already, that you inform us of your nominated beneficiaries for your Super fund. |
|
Total permanent disablement (TPD) |
Provides a lump sum cash payment if you're permanently unable to work due to illness or injury. It’s important to know that you can only take up TPD with death cover (i.e. not on a standalone basis). |
| 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. |
|
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|---|---|---|
| Insurance type | Age and employment eligibility | Maximum cover |
| Death 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. |
| 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 monthly salary (whichever is the lesser amount) |
If you're an existing member of Virgin Super and would like to apply for insurance on your super, go to our Manage my super section and find out how.
To get the full picture on insurance through super, call our Customer Care Team on
1300 652 770 between 8am and 6pm EST, weekdays or check out the Product Disclosure Statement and Member Guide - they contain lots of useful details, like when and how you can make a claim, how to figure out costs, when and for how long you’re covered, and more.
