Insurance through super

Why should I insure through Australian Retirement Trust?

As a profit-for-members super fund, our sole purpose is to help our members achieve their dream retirement. Our insurance options are designed to help members safeguard their and their families’ financial future, while providing a default level of death and total and permanent disability insurance. Our only motivation is to act in the best interests of our members.

Insurance cover with Australian Retirement Trust can continue even if you leave your employer. We’re able to use our size and scale to work hard to provide flexible and affordable insurance cover for our members. You can check your current insurance details at any time through Member Online.

We also understand that life’s full of changes, so it’s good to know that Australian Retirement Trust’s insurance cover is flexible so you can make changes as your life changes. We offer easy ways for you to change your cover, apply for cover, or cancel your cover at any time. Insurance cover through Australian Retirement Trust protects you 24 hours a day, 7 days a week.

At Australian Retirement Trust, the types of insurance cover we offer are as follows:

Standard and Tailored Death cover to age 70 (including Terminal Illness)

Standard Death cover is automatically provided to eligible members of Australian Retirement Trust. Tailored cover provides you with death cover to suit your needs. Death cover is paid as a lump sum, if you die or meet the Terminal Illness definition.

Standard and Tailored Total & Permanent Disability Assist cover to age 67

Standard Total & Permanent Disability Assist cover is automatically provided to eligible members of Australian Retirement Trust.

Tailored Total & Permanent Disability Assist cover provides you with additional disability cover to suit your needs.

If you are suffering from long term injury of sickness we may provide early intervention and occupational rehabilitation support. When you are totally and permanently disabled and you continue to meet the Totally & Permanent Disability Assist definition, you may receive up to six support payments over a minimum of five years to help you pay any debts and bills and fund disability related expenses such as home modifications, rehabilitation and special medical needs. In limited circumstances, Total & Permanent Disability Assist may be paid as a single lump sum payment.

Tailored Total & Permanent Disability cover to age 67

As an alternative to Tailored Total & Permanent Disability Assist cover, you may choose to apply for Tailored Total & Permanent Disability cover to suit your needs. Total & Permanent Disability cover is paid as a lump sum, if you meet the Total & Permanent Disability definition, to help you fund any special medical needs, and assist with your costs of living.

Opt-In Income Protection cover to age 65

Provides an income for up to two years while you are unable to work due to sickness or injury to help you pay your expenses while you focus on your health and recover.

Tailored Income Protection cover to age 65

Provides a replacement income where you become sick or injured and cannot work as a result. You can tailor cover to suit your individual circumstances by electing a range of Benefit Periods and Waiting Periods.

Bring your cover with you

It’s simple, you can apply to transfer your existing Death, Total & Permanent Disability and Income Protection cover anytime.

You may be eligible to transfer existing Death and/or Total & Permanent Disability cover (from other super funds or insurance policies up to $1,000,000) and/or Income Protection cover (up to $10,000 per month in total) to Australian Retirement Trust. Simply download and complete the Transfer of Insurance cover form and return it to us.

It’s important you include all required documentation. If you’re thinking about transferring your existing insurance cover, make sure you compare the features and benefits, and are accepted by the insurer, before cancelling existing cover. If accepted by the insurer you will be subject to the terms and conditions outline in the policy.

Insurance in your Accumulation account

Eligible members are provided with automatic Death and Total & Permanent Disability Assist cover. For more information, refer to page 5 of the Super Savings Insurance Guide, "Am I eligible for insurance cover?"

It’s important to review your insurance needs and check whether automatic insurance cover is enough.

Key Facts Sheet

The Key Facts Sheet summarises the key features about the automatic insurance cover provided. It’s provided in a consistent format, thus allowing you to easily compare features across all superannuation providers.

Renewal of cover

Once your insurance cover commences we review your benefits every year until cover stops^*.

How much cover do I need?

Different people will have different needs depending on their individual circumstances. You may need more cover, you may want to protect yourself with Income Protection cover, or you might not want insurance at all. With Australian Retirement Trust, you can apply for the cover you need.

Working our how much insurance is right for you can be a difficult task. The amount of insurance you need will depend on a combination of things such as your liabilities, assets, ongoing expenses and your expected standard of living. If you're not sure how much insurance you need, try using our insurance needs calculator.¹

It’s important to understand that using your superannuation account now for the payment of insurance premiums before retirement will impact upon your future balance when you do retire.

Need some financial advice?

Speak to your financial adviser. If you don’t have your own personal financial adviser and you need advice about your Australian Retirement Trust account, Australian Retirement Trust also has qualified financial advisers² who can help you over the phone with simple advice about your Australian Retirement Trust account. This service is included in your membership fee. If the advice you need is more complex or comprehensive in nature, we may refer you to an accredited external financial adviser³. Advice of this nature may incur a fee.

Important information

^* Continuation of cover is subject to there being sufficient funds available and ongoing contributions in your Accumulation account to pay the weekly premium. For full terms and conditions, including details on when cover stops, refer to the Super Savings Insurance Guide.

¹ The needs calculator, quote tool and online application are on AIA's website. Their terms of use will apply. Additional insurance is subject to acceptance by the insurer. The date cover starts will usually be the date it is accepted by the insurer. Insurance cover is provided through group life policies for Death and Total & Permanent Disability, and Income Protection, issued by AIA Australia Limited ABN 79 004 837 861. AFSL 230043.

² Australian Retirement Trust employees provide advice as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), wholly owned by the Australian Retirement Trust.

³ Australian Retirement Trust has established a panel of accredited external financial advisers who are not employees of Australian Retirement Trust. Australian Retirement Trust is not responsible for the advice provided by these planners and does not receive or pay any referral fees. These advisers will explain to you how their advice fees are determined.