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Insurance

Life insurance is something that people don’t want to think about. What would happen if you died, or if injury or illness meant that you could never work again? How would it affect you and how would it affect your family?

Insurance cover helps you provide for yourself and your dependents when you are no longer able to do so.

What types of insurance can I have?

Death Cover

Death insurance will provide a lump sum benefit to your beneficiaries upon your death. Members can apply for death cover of up to $5 million. To find out what the appropriate level of cover is for you, please speak with your financial adviser.

You may be able to increase this cover without providing medical evidence when significant life events occur. Please refer to our Insurance Guide for further details.

Death & TPD Cover

TPD insurance will provide a lump sum amount if you are totally and permanently disabled and no longer able to work in any occupation. Members can apply for TPD cover for a maximum of $3 million. To find out what the appropriate level of cover is for you, please speak with your financial adviser.

You may be able to increase this cover without providing medical evidence when significant life events occur. Please refer to our Insurance Guide for further details.

Income Protection Cover

simpleWRAP Super offers eligible members Income Protection (IP) Cover. This cover provides 24 hours a day, 7 days a week protection and peace of mind. Income Protection cover provides a benefit of 75% of earned income plus up to 10% of earned income allowable for superannuation contributions if are unable to work because of temporary illness or injury.

Waiting Periods
A waiting period is the length of time between when you are first unable to work due to being totally or partially disabled and when the benefit starts being paid. You can select from the following waiting periods:

  • 30 days
  • 60 days; or
  • 90 days

Benefit Periods
A benefit period is the amount of time your IP cover will continue to pay you a benefit whilst you are unable to work due to injury or illness. You are able to select from 3 different benefit periods:

  • 2 years
  • 5 years
  • To age 65
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  • PO Box 3528, Tingalpa DC QLD 4173
  • 1300 586 165
  • enquiries@simplewrap.com.au