The COVID-19 pandemic is causing a lot of concern for many people from both a health and financial perspective.
During this time, it makes sense to review any entitlements you may have from an insurance perspective.
Many Intrust Super members have PayGuard Income Protection insurance1 in place, which provides an income stream to members in the event they are too sick or injured to work; and Life and Total and Permanent Disability insurance1 which provides a lump sum payment to members in the event they become totally and permanently disabled, or to their beneficiaries if they become terminally ill or pass away.
The best way to ensure you are covered by insurance in your Intrust Super account is to opt in to insurance, which you can do here. You should read the appropriate Product Disclosure Statement2 and Other Important Information: Insurance, located here, before making a decision.
1Subject to meeting certain terms and conditions.
2This information is of a general nature only and you should consider if it is right for you. If needed, please seek financial advice.
PayGuard Income Protection
Income protection is designed to replace up to 90% of your income should illness or injury prevent you from working.
If you have PayGuard income protection and have been diagnosed with COVID-19, please be aware:
- You may not be covered if you have travelled to a destination on the Department of Foreign Affairs and Trade (DFAT) Do Not Travel register. Please click here for more information.
- PayGuard will not normally cover you for carers leave or for employer-ordered quarantine if you yourself are not ill.
Life and Total and Permanent Disability (TDP) insurance
TPD insurance can help to cover the costs of rehabilitation, medical expenses and the cost of living should you suffer an injury or illness that leaves you totally and permanently disabled. Life insurance provides your/your beneficiaries with a lump sum payment in the event you become terminally ill or pass away.
Please be aware, if you have Life & TPD cover, this cover may cease if you have travelled to a destination on the DFAT Do Not Travel register. Please click here for more information.
Not sure what insurances you have? Log in to your MemberAccess account or call us on 132 467.
If you would like to make an insurance claim, please click here for more information and the relevant claim forms.
For more information about your insurance cover, please read the ‘Other important information: Insurance’ document for the relevant Intrust Super product on our Forms and documents page.
An important reminder
Please note that insurance in super is changing form 1 April 2020. Some members who currently have insurance may have that insurance cancelled as a result of the rule changes. The best way to avoid this is to opt in to insurance.
If you would like to ensure you keep your insurance, you can opt-in to your insurance using our online form.