Our default cover

For new members who have an employer who pays Superannuation Guarantee (SG) contributions into their account, we offer a default level of Death & TPD insurance.

To ensure the cover is relevant to you, we’ve determined your default level of insurance to reflect your age and stage in life:

Age 14 – 24

You’re still young and probably just started out in your career. Kids and mortgage may not be at the top of your list. With this in mind – and recognising that you may require lower levels of insurance cover – more super will stay in your account, allowing it to grow for a time when you’ll need it.

Age 25 – 29

You’re settling into your career and may be starting to think about your future which includes buying a home and having kids, but you’re not quite there yet. As such, you may not need a lot of your cover. Your premiums are low, so your super is left to grow, rather than being chipped away.

Age 30 – 34

Early to mid-30s often brings big changes in life. You may have bought a house or had a child and while it still seems far away, you’re starting to think about protecting you and your family later in life. Our focus is on keeping your super growing. The good news is that during this time your cover will steadily increase, which will benefit you when you need it most.

Age 35 – 64

In this stage of your life, we want to make sure you’re adequately protected. Your premiums and cover increase to a level that will provide you with peace of mind should you or your family need to access it.

Age 65 – 69

Hopefully all your hard work has paid off and you can start to relax in life, without having to worry about having enough super and insurance to cover you and your family should something happen to you.

Death and TPD Graph


Understanding your default cover

Is default cover automatic?

Default cover is only automatic if you’re aged 25 years and over with an account balance of $6,000 or more (subject to eligibility).

If you’re under 25 or have under $6,000 in your account, and you receive SG contributions from your employer, you can elect to have default insurance (see Option 2 below).

Once you turn 25, or if you’re already over 25 and under 70, and you receive SG contributions from your employer, you’re automatically allocated the default insurance when your account balance reaches $6,000 (subject to eligibility). You can opt-out of receiving this automatic cover by completing an Opt-out of Automatic Default Insurance Form.

What does 2 units of cover mean?

Each unit represents a dollar value of cover that’s dependent on your age.

See the amount of cover and cost for each unit of cover.

  • If you’re between 65 and 69, there are certain TPD definitions and restrictions that will apply.
    Read the full TPD definitions which apply.

What are your options for cover?

Option 1. Accept our automatic default cover (if you're eligible to receive it)

Do nothing. You’ll automatically receive our default cover from the first day you’re 25 or older and your account balance is $6,000 or more (subject to eligibility).

Option 2. Elect to receive default cover when you join us (if you're eligible to receive it)

If you’re not eligible for automatic default cover when joining, you may elect to receive it by completing an Elect Default Insurance Form or an Insurance Election Form. One of these forms must be completed and accepted by us within 90 days of the date of your welcome letter.

Option 3. Choose your own cover

You can apply for a maximum of $5 million Death cover, and $3 million TPD cover by completing the Insurance Election Form. If you’re applying for more than $1.1 million of cover, you’ll also need to complete a OnePath Personal Statement.

Option 4. Apply to match or transfer the amount of your existing insurance held with another fund

You can apply for the matching or transferring of cover if you’re under 61 by completing the Insurance Matching/Transfer Form. Terms and conditions apply. Note: Do not cancel your existing insurance cover until we have confirmed your application has been accepted by us.

Option 5. Opt out of receiving default cover

You can opt-out of receiving this automatic cover by completing an Opt-out of Automatic Default Insurance Form.