BEST-VALUE IN­SUR­ANCE IN SU­PER

GOLD WIN­NER LEGALSUPER

Money Magazine Australia - - INVESTING SUPERANNUATION -

Pol­i­cy­hold­ers can be con­fi­dent they’ll be cov­ered in the event of an ac­ci­dent or ill­ness

Legalsuper has pushed past In­trust Su­per, which has won in the previous six years, to take the gold award for its low­cost, well-fea­tured life, to­tal and per­ma­nent dis­abil­ity (TPD), and in­come pro­tec­tion in­sur­ance.

Legalsuper mem­bers get the pro­tec­tion of high cover for a great price be­cause of their favourable risk pro­file. The 30-year-old fund, with $3 bil­lion un­der man­age­ment, was orig­i­nally set up for em­ploy­ees in the le­gal sec­tor but is now open to any­one as a pub­lic of­fer fund.

New mem­bers can take up a spe­cial in­sur­ance of­fer if they are in the em­ploy­er­spon­sored divi­sion. It al­lows them to in­crease their death and TPD cover by up to four units de­pend­ing on their age.

Un­der legalsuper’s in­come pro­tec­tion in­sur­ance, mem­bers can ap­ply for cover of up to 85% of their pre-dis­abil­ity wages to a max­i­mum of $30,000 a month: 75% goes to the mem­ber and 10% to su­per.

A fea­ture of In­trust’s PayGuard in­sur­ance for ca­sual, part­time and full-time em­ploy­ees is cover for 90% of their wage or salary as in­come pay­ments. An ad­di­tional amount equal to 10% of those pay­ments goes to the mem­ber’s su­per.

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