Default cover - when you join LUCRF Super

When you join us you automatically receive (subject to eligibility*):

Up to 64 years of age – 1 unit of Light Blue Fixed Premium Death & TPD cover ($2.55 per week**)

Aged 65–69 years – 1 unit of Light Blue Fixed Premium Death & restricted TPD cover (TPD definition 2,3,4 or 5 must be satisfied to receive a TPD benefit if you're between 65-69) ($2.55 per week**).

Aged 70 and over – no insurance.

Insurance offer for new members

Within 90 days from the date of your welcome letter, you can increase your insurance up to our automatic acceptance levels by satisfactorily answering a set of screening questions.

This means that provided you answer a set of screening questions in the application form (to the satisfaction of the insurer), you don’t have to provide any medical evidence to:

  • increase your 1 unit of Death & TPD default cover to either a maximum of 4 units of Death & TPD cover OR a maximum of 6 units of Death Only cover#
  • obtain $700 per week of Income Protection (two-year benefit).

If you wish to change your insurance (outside the 90 day period), or upgrade to a higher level of cover at any time ($5 million for Death and $3 million for TPD), then you will need to complete a Member Insurance Election Form (Death & TPD) and/or a Member Income Protection Form (Income Protection).

Automatic issue of default cover and automatic acceptance of cover is only available once per account. Any future LUCRF Super accounts you may hold may also be eligible for default cover. You’re only eligible for insurance cover on one LUCRF Super account at a time.

If you do not have a contributing employer (Personal Plan members)

If you join LUCRF Super without a contributing employer (you may be a spouse member) or self-employed, you are not allocated default insurance cover.

To apply for insurance, you need to complete certain forms before any insurance cover is assessed by LUCRF Super’s Insurer.

The forms required are:

  1. Member Insurance Election Form, and/or
  2. Member Income Protection Form, and
  3. OnePath Personal Statement.

All applications for insurance cover for members without a contributing employer are subject to acceptance from our insurer. The insurer may ask you for additional information or a medical assessment to support your application. Call us on 1300 130 780 if you require any assistance. 

You will be notified by us in writing if cover is accepted and the date from which it is effective.

Pension members

If you have Death Only or Death and TPD insurance as part of your LUCRF Super account which is being closed, your insurance will automatically continue under your LUCRF Pension. Death Only insurance and Death and TPD insurance ceases at age 70. Once you start your Retirement Pension, you cannot change the amount of cover you have. However, you can choose to cancel your cover at any time.

*Except if you join LUCRF Super without a contributing employer (as a Personal Plan member), you're a Pension member, or join under a tailored workplace agreement. Automatic issue of default cover is only available once per account. Any future LUCRF Super accounts you may hold may also be eligible for default cover. You’re only eligible for insurance cover on one LUCRF Super account at a time. In some cases, default cover will be limited to only covering injuries which occurred, or illnesses which became apparent, after your cover commences and which are not also related to any pre-existing conditions. You may have this limited form of cover if, for example, your employer, does not pay your first contribution to your super account within six months of you starting work. In this case, the restriction on cover will apply for at least 12 months from the day your cover commences but might continue beyond this if you’re not at work (as defined by our insurer) at the expiry of those 12 months. Or, if you’re not ‘at work’ on the day your cover is due to start, the restriction will apply until you’ve been at work for at least two consecutive months. Please refer to page 11 of our Insurance Guide for definitions of ‘at work’ and ‘pre-existing conditions’.

**Cost of insurance is deducted directly from your super account on a quarterly basis. This is the net insurance cost you pay from your account balance. The gross cost, which we pay to our insurer, is $3 per week (per unit) for Death & TPD, and $1.50 per week (per unit) for Death Only. Because we’re able to claim a tax deduction for the cost of providing insurance (which we pass onto members), you pay the lower net (after-tax) cost.

# By choosing to increase your Death Only cover, your TPD cover will cease from the date your application is accepted.