Insurance FAQs
When am I covered?
You are covered 24 hours per day, 7 days per week as long as all policy terms and conditions are met including:
- Your application is received by the Fund within 60 days of being signed and dated OR you are granted default cover as an Industry Fund member; and
- Your account has sufficient funds to cover the cost of the insurance; and
- You are actively at work on the day you complete this application
When does cover cease?
Cover ceases in the following circumstances:
- Your LUCRF Super membership ceases
- You write to us to cancel your cover (cover is cancelled from the date your request is received)
- You have insufficient funds in your account to cover the cost of the insurance
- You reach the benefit expiry age:
- 65 years for Income Protection
- 70 years for Death Only
- Restricted TPD cover applies from age 65 - 69
- The date a Death, TPD or Terminal Illness benefit becomes payable from the insurer
- If no formal notification is received of unpaid leave in excess of 90 days
- The date the policy ends.
What happens to my insurance cover if I go on unpaid leave?
This depends upon the type and duration of your unpaid leave. Please contact LUCRF Super before you commence any unpaid leave that exceeds 3 months.
What are my insurance options if I had previously lodged a TPD Claim?
If you have previously lodged a claim for Total & Permanent Disablement, through any previous super fund or insurer, you will be limited to one (1) unit of Death Only cover. Should you wish to obtain any higher cover, you will need to complete an ING Personal Statement and any other requirements which will be reviewed by the insurer.
Full details regarding our insurance options are available in our Member Guide (combined PDS & FSG). The ING Personal Statement can be found at the bottom of this page.
Please Note: the amount of Insurance cover applied to your account or detailed on your statement is not guaranteed and is subject to you meeting the policy conditions and providing correct personal details.
What happens if I am an Industry Fund Member and have not made an insurance choice?
LUCRF Super will allocate one (1) unit of Death and TPD as the default cover for any member who is under 70 years of age and has joined after 1 April 2006. This cover will continue until you decide to request its cancellation in writing, you are in excess of the age limits, your account balance has insufficient funds to cover the cost of insurance premiums or you close your LUCRF Super account.
The default cover will also be allocated where a member fails to complete an Insurance Election Form (and the Fund receives a contribution or membership application with no insurance election form). You can elect to change your default cover on an Insurance Election Form from one (1) unit of Death & TPD to up to four (4) units of Death Only within 60 days of becoming eligible for cover. After 60 days the normal upgrade process applies.
What happens if I am a Personal Plan Member and have not applied for an insurance choice?
In the event of Death or TPD, only your superannuation account balance will be payable.
Personal Plan members may apply for insurance by completing an Insurance Election Form - Personal Plan and an ING Personal Statement and be approved in writing for coverage.
Please note: you may be requested to provide further medical evidence or attend a medical examination if required by our group insurer.
When am I covered in the Industry Fund?
The insurance provides cover 24 hours a day, usually from the day the application is signed, provided:
- Your application is received by the Fund within 60 days of being signed and dated; and
- Your account has sufficient funds to cover the premium charge; and
- You are actively at work on the day you complete this application.
Please Note: Initial coverage for Personal Plan members and any requested increases in insurance are only effective when the member has received written confirmation from LUCRF Super that their level of coverage has been accepted.
What happens to my Death & TPD insurance when I cease work?
Your insurance cover will continue after you cease employment for as long as your account has sufficient funds for the relevant premiums to be deducted and you are within the age limits and policy conditions.What happens to my insurance when I close my account?
When you close your account your insurance cover ceases.
You have the option to convert your insurance cover to an individual contract with the insurer providing that a written application is received by the insurer within 60 days of closing your account with the Fund.
What happens to my Death & TPD insurance cover if I am a casual worker?
Your insurance cover continues for as long as the value of your account is sufficient for the relevant premium to be deducted and you are within the age limits and policy conditions.
Are individual takeover terms available?
Yes, please contact the Fund directly to find out how.
Please Note: Any misleading or false statement will prejudice any insurance request (or subsequent claim) and/or could lead lead to premium adjustment.
Want to know more?
If you have any further questions or would like more information, please call 1300 130 780 or email mypartner@lucrf.com.au.
