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Insurance through super

Life can throw unexpected challenges at us, an illness or an accident, and overnight our lives can change. Insurance provides financial security for you and your family.

Insurance gives you and your loved ones a safety net so you can move forward with confidence. Most ANZ Staff Super members have automatic death and Total and Permanent Disablement (TPD) cover.1

As a corporate fund, ANZ Staff Super can offer insurance cover at group rates, which are generally cheaper than if an individual took out insurance cover directly with the insurer. We currently offer a 45% rebate on death plus Total and Permanent Disablement (TPD) premiums for most members, and according to research company Chant West, our premiums are some of the lowest in the market.2

What’s more, these premiums are automatically deducted from your super. So they don’t impact your take home pay and are funded from the lower tax environment of super.

Types of insurance

Insurance through ANZ Staff Super can provide you with peace of mind should the unexpected happen.

Log inOpens in new window to your account to find out the types and amounts of insurance cover you have and what it costs.

If you’d like to change your insurance cover, ANZ Staff Super’s insurance options are flexible. You can apply to tailor your death and TPD cover to suit your needs and add optional salary continuance insurance. Terms and conditions apply.

It’s important to understand your insurance cover – what it offers you, and what you are covered for.

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  1. Total and Permanent Disablement (TPD)

TPD insurance provides a lump sum payment if you become seriously disabled and are unlikely to work again.

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  1. Death and Terminal Illness

Death or a terminal illness diagnosis can put financial stress as well as all the emotional stress on those who love and depend on you. Death cover pays a lump sum or income stream.

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  1. Salary continuance insurance

This provides you with a regular income for a specified period if you can’t work due to temporary disability or illness. It’s designed to help pay your living expenses during your recovery.

ANZ Staff Super’s insurance cover varies depending on your member type:

Employee members

Automatic death and Total and Permanent Disablement (TPD) cover is provided to most new employees and Employee members can choose the level of cover they need. You also have the option to apply for salary continuance insurance.

Personal members

Members transferred to the Personal Section can continue their chosen level of death and TPD cover.

Partner members

Partner members can apply for death and TPD cover at any time.

Things to know

There are a few things you need to know when it comes to your insurance.

  • Premiums vary depending on your age and your level of cover.
  • The cover available depends on your member section.
  • Your account balance must be sufficient to meet your premiums to maintain your cover.
  • Insurance in your super ceases when you reach age 66.
  • The insurance cover offered by ANZ Staff Super is provided by Zurich (the insurer)
  • This list is not conclusive. Read the Product Disclosure Statement and In Detail booklet for your member section for more about the premiums and terms and conditions that apply to your cover.

1 Cover stops at age 66. Not available in the Retirement Section
2 ANZ Staff Super is No.1 for lowest death and TPD premiums, Chant West Super Fund Insurance Premium Survey January 2024. Refer to the relevant PDS for more information about when cover might stop.

Disclaimer

Insurance cover is provided by Zurich Australia Limited ABN 92 000 010 195 (the “Insurer”) and subject to the terms and conditions of the insurance policy issued to ANZ Staff Superannuation (Australia) Pty Limited ABN 92 006 680 664 AFSL 238268 RSEL L0000543 (the Trustee of ANZ Staff Super) by the Insurer (the “Policy”). You should read the Product Disclosure Statement (PDS) for your membership section for a summary of the terms and conditions of the Policy. You can download your PDS here or contact us on 1800 000 086 if you would like a copy of the Policy. Your Section application will be assessed by the Insurer and ANZ Staff Super will advise you of the outcome in writing. The Insurer’s Privacy Policy details how the Insurer manages personal information. It is available free of charge by calling Zurich on 13 15 51 or can be downloaded from hereOpens in new window .