tasplan super insurance guide · life and their ability to earn an income. insurance is an...

ISSUED | 30 September 2020

Tasplan SuperInsurance guide

2 | INSURANCE GUIDE

Contact details

Head office Level 8, 188 Collins Street Hobart TAS 7000

Postal address GPO Box 1547 Hobart TAS 7001

Phone 1800 005 166

Email [email protected]

Website tasplan.com.au

Issuer Tasplan Pty Ltd AFSL 235391 ABN 13 009 563 062 (Trustee)

Fund registration details ABN 14 602 032 302 (Tasplan Super) USI TPN0100AU MySuper Unique Identifier 14602032302734.

Information in this document forms part of the product disclosure statement for Tasplan Super dated 30 September 2020. It contains important information about insurance with Tasplan. The insurance policy contains the full terms and conditions, and copies of the policy are available on request. A reference to the guide means the Tasplan Super guide and this Insurance guide collectively. Any reference throughout this Insurance guide to ‘the trustee’, ‘we’ or ‘us’ means Tasplan Pty Ltd, ABN 13 009 563 062. ‘Fund’ or ‘Tasplan’ means the super fund known as Tasplan Super, ABN 14 602 032 302. Any reference to ‘financial planner’ means a licensed or appropriately authorised financial planner.

The information in this Insurance guide is up‑to‑date at the time of preparation. However, some of the information can change. We’ll update the Insurance guide when we become aware of any material adverse change to the information contained in this Insurance guide, or a material omission from the Insurance guide. Updated information is available free of charge from tasplan.com.au/pds or call us on 1800 005 166, and we’ll send you a copy.

The information provided in this Insurance guide is general information only and doesn’t take into account your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances before making a decision to apply for insurance with Tasplan. The rights of members are ultimately governed by the trust deed governing Tasplan and any underlying insurance policies securing death and disablement benefits. While the trustee has taken all due care in preparation of this Insurance guide, it reserves its right to correct any errors and omissions. If there's any inconsistency between the trust deed or insurance policy and this Insurance guide, the trust deed and insurance policy, as applicable, will prevail.

| INSURANCE GUIDE

Contents

1. About Tasplan Super insurance 3If you need advice 3

Benefits of cover through your super 3

Types of cover offered 4

How do you get cover with Tasplan? 4

Default cover 4

Eligibility for default cover 5

Not yet eligible? You can opt in early 5

Eligibility for fixed cover 5

Occupation rating 5

Limited cover 5

2. Death and total and permanent disablement (TPD) cover 6Default death and TPD cover 6

How does default death and TPD cover work? 6

Cost of default death and TPD cover 7

When does default death and TPD cover start? 10

Convert default cover to fixed cover 10

Fixed death and TPD cover 11

Cost of fixed death and TPD cover 12

Interim accident cover 16

Life events cover 17

Cancelling or reducing your death and TPD cover 17

3. Income protection cover 18Default income protection cover 18

Cancelling or reducing your income protection cover 21

Cost of cover 21

When is your income protection benefit payable? 28

Definition of total disability 28

Definition of partial disability or partially disabled 28

Reduction of your monthly benefit when in receipt of other disability income 29

Recurrent disability 29

4. Changing employment to an eligible employer 30Default death and TPD 30

Default income protection 30

5. Transferring your insurance from another fund 31Eligibility criteria 31

How to transfer cover 31

6. Cover ending and restarting 32When does cover end? 32

When can cover restart? 32

7. Limitations and exclusions 33

8. Important information 34Frequently asked questions 34

Feedback and complaints 35

9. Insurance terms explained 36Key definitions 36

Income protection cover definitions 40

mailto:[email protected]

http://www.tasplan.com.au

http://www.tasplan.com.au/pds

3FIND OUT MORE > 1800 005 166

1. About Tasplan Super insuranceMost people insure their car, home and contents, but forget their most valuable assets - their life and their ability to earn an income.

Insurance is an essential part of any financial plan because it protects you and your family in the event of your unexpected death or disablement.

This Insurance guide outlines your insurance options with Tasplan and explains the conditions, limitations and exclusions which may apply.

Tasplan insurance is provided by our insurer, MetLife. See About our insurer on page 35 for information about MetLife.

You may be eligible for default cover without providing detailed health information or you can apply for fixed cover at any time through Tasplan Online or by completing the Apply for cover form available at tasplan.com.au/member-forms or call us and we’ll send you a copy.

We offer two levels of default cover, default A and default B. If you work for an eligible employer you may be provided with default B cover which includes default income protection cover.

You may also be able to transfer existing cover with another super fund to Tasplan or apply to increase your cover when certain life events occur.

If you need adviceWe can provide you with general advice on your Tasplan account. If you need personal advice, you can meet with a Tasplan financial planner. Our planners have set fees for advice. Tasplan financial planners are authorised representatives of Quadrant First Pty Ltd (ABN 78 102 167 877, AFS Licence No. 284443), a wholly owned subsidiary of Tasplan Pty Ltd operating as a separate legal entity.

If you have any questions, contact us on 1800 005 166 or [email protected].

Benefits of cover through your superTasplan insurance is an affordable way to protect you and your family. The benefits of Tasplan's insurance include:• discounted group rates, meaning you generally pay less than you would if you personally

applied for cover• insurance costs (premiums, applicable loadings and fees) are paid out of your Tasplan account

rather than from your pocket. You only pay for what it costs to provide your insurance• we’re able to claim a tax deduction on insurance premiums which we pass straight back to you

through reduced insurance costs• cover is 24 hours a day, not just when you’re at work• you can apply to increase1, reduce or cancel your insurance at any time to suit your needs.1 You may need to provide detailed health information with your application.

http://tasplan.com.au/member-forms

mailto:[email protected]

4 | INSURANCE GUIDE

Types of cover offeredTasplan offers competitive death, total and permanent disablement (TPD) and income protection cover to protect you and your family.

Death Total and permanent disablement (TPD)

Income protection

Provides a lump sum benefit for you, your dependants or your legal personal representative (executor of your estate) if you die or become terminally ill. Maximum cover is $10 million.

Provides you with a lump sum benefit if you become totally and permanently disabled and can no longer work. Maximum cover is $3 million.

Provides monthly payments if you’re unable to work temporarily due to illness or injury. The maximum benefit is 75% of your monthly income plus up to 10% super contributions, with a maximum monthly benefit of $30,000.

How do you get cover with Tasplan?There are a number of ways to get cover with Tasplan:

How to get cover When you get cover More information Death and TPD cover

Default cover Automatically provided after certain conditions are met. See page 6.

Opt in early for default cover An option to take up default cover when you first join Tasplan. See page 5.

Fixed cover You can apply at any time but will need to be accepted by the insurer. See page 11.

Transferring cover Transfer your cover and account from another super fund. See page 31.

Life events You can apply for additional death and TPD cover if you experience a specific life event.

See page 17.

Income protection cover

Default cover Automatically provided after certain conditions are met. See page 18.

Opt in early for default cover An option to take up default cover when you first join Tasplan. See page 5.

Fixed cover You can apply at any time but will need to be accepted by our insurer. See page 20.

Transferring cover Transfer your cover and account from another super fund. See page 31.

Default coverTasplan automatically provides default death and TPD cover and income protection cover to members when they meet eligibility requirements.

The type and amount of cover you receive depends on your age and your employer as outlined in the following table. See page 5 for eligibility requirements, page 6 for details on default death and TPD cover and page 18 for default income protection cover.

Employer Your age

Default cover type Cover amount

You work for any employer (other than an eligible employer).

25‑59 Default A death and TPD. See Table A.1 on page 7.

60‑64 Default A death only.

You work for an eligible employer (see below).

25‑59 Default B death and TPD. See Table B.1 on page 9.

60‑64 Default B death only.

25‑55 Default B income protection ‑ 75 % of monthly income, plus up to 10% super contributions cover with a 2‑year benefit period and 90‑day waiting period.

See Table 1 on page 22.

56‑59 Default B income protection ‑ 50% of monthly income, plus up to 10% super contributions cover with a 2‑year benefit period and 90‑day waiting period.

Eligible employersEligible employers include Tasmanian state government employers, Tasmanian local councils, Tasmanian non‑government schools, Tasmanian private hospitals and other approved employers. You can contact Tasplan to see if your employer is classed as an eligible employer.

Important information

Default cover is issued as limited cover, meaning you’re not covered for any illnesses or injuries you already have before your cover starts. Limited cover normally ends when you’ve been in active employment for 30 consecutive days after your cover starts. In certain circumstances, it may be extended to 24 months or more.

For more details on limited cover, see page 5.

5FIND OUT MORE > 1800 005 166

Eligibility for default coverTo be eligible for default cover all the following must apply:• you’re a member of Tasplan• you haven’t previously asked us to cancel your cover in your Tasplan

account• you’re not diagnosed with a terminal illness that's likely to result in

your death within 24 months • you haven’t previously received or been eligible for a terminal illness or

total and permanent disability benefit from any insurer or super fund.

Death and TPD cover

a) you’re aged 25 or over and under 65

b) your account balance is at least $6,000

c) a super guarantee (SG) contribution has been received from your employer no earlier than 90 days before, or any time after, the date you satisfied conditions a) and b).




c) you’ve received at least $650 of SG contributions no earlier than 90 days before, or any time after, you satisfied both conditions a) and b) and

d) at least one of these SG contributions must have been received from an eligible employer.

Not yet eligible? You can opt in early If you want default cover to start before your account balance reaches $6,000 or you're under age 25, you can opt in early at any time, provided this is the first time you'll have cover with Tasplan.

If you opt in to default cover you'll receive either default A or default B cover, depending on your employer.

Your default cover will start when your application has been accepted and an SG contribution has been received from your employer no earlier than 90 days before, or any time after, your application is accepted. If you’re also eligible to receive default income protection, it will start when at least $650 of SG contributions have been received over the previous 90 days before, or any time after, your application is accepted.

You can opt in early to default cover through Tasplan Online.

Eligibility for fixed coverIf you’re not eligible for default cover or want to increase your cover, you can apply for fixed cover at any time. This includes death cover, TPD cover and income protection.

You must satisfy the following conditions when applying for fixed cover:• you must be a member of Tasplan and

‑ aged 15 or over and under 70 for death only or death and TPD cover ‑ aged 15 or over and under age 65 for income protection cover.

Occupation ratingThe type of work you do will determine your occupation rating. The cost of your cover will depend on your occupation rating. Generally, the riskier your job, the more you pay for insurance. Your occupation rating will apply for all types of cover you hold with Tasplan.

There are three occupation ratings:

GeneralYou’ll automatically be allocated to the General occupation rating when your death and TPD and/or income protection cover starts.

OfficeYou may be eligible for the Office occupation rating if the duties of your occupation are limited to professional, managerial, administrative, clerical, secretarial or similar ‘white collar’ nature tasks which don’t involve manual

work or teaching and are undertaken entirely within an office environment, excluding travel time from one office environment to another.

Professional You may be eligible for the Professional occupation rating if:• you’re eligible for the Office occupation rating• earn over $100,000 each year and either:

‑ have tertiary qualifications ‑ you're a registered member of a professional institute or governing

body in relation to your profession or ‑ work in a management role.

A tertiary qualification includes a university degree, graduate certificate, advanced diploma and/or a diploma.

You can apply to update your occupation rating any time through Tasplan Online or by completing the Occupation rating form available at tasplan.com.au/member-forms or call us and we’ll send you a copy. Your application is subject to acceptance by our insurer.

If you change jobs or duties and your occupation changes, it’s your responsibility to tell us so your insurance costs can be adjusted accordingly.

Once you’re accepted for the Office or Professional rating, you’ll keep this rating as long as you have cover with Tasplan, regardless of any future changes to your occupation or duties. However, you may apply to update your occupation rating again if your circumstances change. Should you no longer have cover with Tasplan, but decide to reapply for cover in the future, you’ll also need to reapply to update your occupation rating.

Limited cover

What’s limited cover? Limited cover means you’re not covered for pre‑existing injuries or illnesses. When limited cover conditions apply, we won’t pay a benefit for any injuries or illnesses you have before your cover starts, restarts or increases unless:• you weren’t aware of the injury or illness and• a reasonable person in the circumstance couldn’t be expected to have

been aware of the injury or illness at the time of applying.

When is default cover limited cover? When default cover is issued, it’s limited cover until you’ve been in active employment for 30 consecutive days, if:• your cover starts within 90 days of you commencing work with your

employer or• an SG contribution is received in the 90 days before your cover started

and within the six‑month period before your cover started, you weren't: • diagnosed with or experiencing symptoms of, seeking a medical

opinion, under investigation or advised to undergo investigation for a degenerative condition (see page 37 for definition) or

• absent from work or on restricted duties or hours for more than seven consecutive days due to injury or illness.

If you don't meet these conditions, your default cover is limited cover for at least 24 months. If you’re not in active employment for the final 30 consecutive days before the 24‑month period ends, the limited cover provisions continue to apply until you’ve been in active employment for 30 consecutive days.

You’re normally considered to be in active employment if you’re:• not absent from work or on leave, due to illness or injury • not receiving or entitled to receive income support benefits of any kind • capable of performing the duties of your job for 35 hours a week, even if

you don't work 35 hours each week (see page 36 for the full definition of active employment).


6 | INSURANCE GUIDE

2. Death and total and permanent disablement (TPD) coverType of cover Benefit Death cover Death cover provides your dependants, nominated beneficiaries or your estate with a benefit if you die.

Terminal illness If you’re diagnosed with a terminal illness that’s likely to result in your death within 24 months, you may be eligible to receive your death benefit sooner. This is included in your death cover at no extra cost. See page 38 for the definition of terminal illness.

TPD cover TPD cover provides a lump sum benefit in the event that you become totally and permanently disabled and are unlikely to return to work as a result of an illness or injury. You need to meet the TPD definition, relevant to your circumstances under the policy, for a TPD benefit to be paid.

If you’re 65 and over, or under age 65 and not gainfully employed at any time in the six months before you became disabled, your claim will usually be assessed under more restrictive parts of the TPD definition.2 See page 34 for information on how a TPD claim is assessed under the TPD definition and page 36 for the definition of TPD.

If you receive a TPD benefit, your death cover will cease, unless it's higher than your TPD cover, where the difference remains as death cover as long as you keep your account open and continue to pay for this cover.

2Your claim may be assessed using the applicable TPD definition based on your working arrangements as at 11 March 2020, if you're under age 65 and became unemployed due to COVID‑19 since 11 March 2020. Conditions apply. See page 34 for more information.

Default death and TPD coverTasplan automatically provides default death and TPD cover when you meet the eligibility conditions detailed on page 5 without the need to provide any health information. Default cover is age‑based cover and is designed to provide a minimum level of cover which changes as you get older. Your cover may be subject to certain limitations and exclusions which are detailed throughout this Insurance guide.

The amount of cover you receive depends on your age and your employer, as shown in the table below.

Employer Your age

Default cover type Cover amount

You work for any employer (other than an eligible employer).

25‑59 Default A death and TPD. See Table A.1 on page 7.

60‑64 Default A death only.

You work for an eligible employer (see below).

25‑59 Default B death and TPD. See Table B.1 on page 9.


If you’re not eligible for default cover, or you want to increase your cover, you can apply for voluntary fixed death, TPD and/or income protection cover. Applications for voluntary fixed cover must be accepted by the insurer before cover starts.

We'll refund the insurance costs if we become aware that you were ineligible for default cover, however this is usually only identified if you tell us or lodge a claim.

How does default death and TPD cover work?When you've met the eligibility criteria, detailed on page 5, you’ll automatically be provided with default death and TPD cover. The amount of cover will depend on your age and whether the employer paying your SG contributions to Tasplan is an eligible employer.

You’ll be provided with default A cover, or if you work for an eligible employer, default B cover. The amount of default cover you’ll receive is provided in Table A.1 for default A on page 7 and Table B.1 for default B on page 9.


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Cost of default death and TPD cover The cost of your default cover is detailed in the Table A.1 below for default A and Table B.1 on page 9 for default B. The gross cost is your insurance premium, plus an insurance administration fee of 4% of your premium. The net cost is the gross cost reduced by a tax deduction of up to 15% of your premium. The net cost is what you pay. Insurance costs are calculated daily and deducted monthly from your Tasplan account. The cost may reduce depending on your occupation rating.

We’re required to show the gross insurance costs, but only net costs are deducted from your account. When working out what your cover will cost, you should refer to the net cost columns. There may be small differences in the costs calculated using the rates in the table and what you’re charged, due to rounding. Table A.1 - default A death and TPD cover

AgeDefault A death cover amount $

Default A TPD cover amount $

Annual insurance costs for default cover

Occupation rating

General A Office A Professional A

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

15 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

16 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

17 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

18 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

19 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

20 50,000 65,000 40.60 34.50 32.85 27.90 28.55 24.10

21 50,000 65,000 43.40 36.80 35.15 29.70 30.20 25.75

22 50,000 65,000 46.85 40.25 37.45 32.00 33.65 28.70

23 50,000 65,000 50.95 43.70 40.90 34.80 35.95 31.00

24 57,700 65,000 59.82 51.38 48.35 41.71 42.29 35.65

25 82,500 65,000 82.58 70.43 65.18 55.33 57.63 49.25

26 106,200 65,000 105.54 90.37 84.17 72.43 73.49 62.80

27 132,600 88,400 145.86 124.20 116.25 99.45 101.66 87.96

28 155,700 103,800 184.76 159.33 147.40 126.12 130.27 110.55

29 180,000 120,000 232.20 198.60 186.60 159.00 162.00 139.20

30 176,400 117,600 245.20 211.09 198.16 169.93 172.28 148.76

31 172,800 115,200 262.08 224.06 209.66 179.14 182.02 156.10

32 169,200 112,800 278.62 238.01 223.91 192.89 195.71 167.51

33 165,600 110,400 296.98 254.47 236.81 202.58 208.10 177.74

34 162,000 108,000 316.44 270.00 252.18 216.54 220.86 190.08

35 157,800 105,200 327.70 281.41 263.53 224.60 230.91 197.25

36 153,600 102,400 343.04 292.86 273.92 233.98 239.10 205.31

37 149,100 99,400 353.37 303.67 283.29 242.04 247.01 213.21

38 144,600 96,400 366.32 313.78 293.54 251.60 257.39 219.79

39 140,100 93,400 377.34 323.16 302.62 259.65 265.72 228.36

40 133,200 88,800 385.39 329.45 308.14 263.29 269.51 229.99

41 126,300 84,200 389.43 333.85 311.54 266.91 271.97 233.66

42 119,400 79,600 393.22 336.31 315.22 269.45 275.42 236.41

43 112,500 75,000 396.38 339.00 315.75 271.13 277.50 237.00

44 105,600 70,400 397.76 340.74 318.91 272.80 278.78 238.66

45 103,200 68,800 413.49 354.66 331.62 283.46 289.99 249.06

46 93,600 62,400 399.98 341.95 319.80 274.56 281.11 240.24

8 | INSURANCE GUIDE

Example of the cost of default A death and TPD coverNatasha is 36, has an occupation rating of office A and is eligible for default A death and TPD cover. Using the cost information from Table A.1, the cost of her cover is calculated as follows:

Default A cover Cover amount Gross annual cost for default A cover (age 36, office A)

Net annual cost for default A cover (age 36, office A)

Death $153,600$273.92 $233.98

TPD $102,400

Annual net cost of cover to be deducted from Natasha’s account $233.98

AgeDefault A death cover amount $

Default A TPD cover amount $


Occupation rating

General A Office A Professional A

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

47 84,000 56,000 383.60 328.16 306.60 261.80 267.96 229.88

48 71,100 47,400 344.84 295.54 275.63 236.05 241.74 206.66

49 58,200 38,800 301.09 257.44 241.34 206.42 211.07 180.42

50 45,000 30,000 247.80 212.25 198.60 170.25 173.40 148.65

51 35,100 23,400 206.15 176.44 165.20 141.10 144.50 123.44

52 27,900 18,600 174.75 149.54 139.78 119.41 122.30 104.72

53 24,900 16,600 166.33 142.18 132.80 113.88 116.28 99.52

54 21,300 14,200 151.51 129.65 121.27 103.87 106.07 90.67

55 18,600 12,400 141.79 121.21 113.27 96.84 99.08 84.75

56 16,500 11,000 134.48 115.12 107.58 92.07 94.05 80.52

57 14,700 9,800 128.14 109.61 102.66 87.76 89.77 76.88

58 13,200 8,800 123.20 105.47 98.60 84.39 86.28 73.88

59 11,700 7,800 116.92 100.07 93.48 80.03 81.90 70.04

60 11,000 0 60.61 51.92 48.51 41.47 42.46 36.30

61 10,600 0 62.75 53.64 50.14 42.93 43.99 37.63

62 9,900 0 62.87 53.86 50.39 43.07 44.06 37.72

63 9,400 0 64.11 54.90 51.32 43.90 44.84 38.45

64 8,800 0 64.50 55.18 51.66 44.18 45.14 38.63

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Table B.1 - default B death and TPD cover

AgeDefault B death cover amount $

Default B TPD cover amount $


Occupation rating

General B Office B Professional B

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

15 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

16 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

17 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

18 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

19 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

20 100,000 130,000 61.90 54.00 50.70 42.80 45.10 38.20

21 100,000 130,000 63.90 55.00 52.70 44.80 46.10 38.20

22 100,000 130,000 72.40 62.20 56.30 48.40 50.70 42.80

23 100,000 130,000 77.00 66.80 63.50 54.30 54.30 46.40

24 115,400 130,000 91.51 78.09 73.33 63.51 62.21 53.70

25 165,000 130,000 124.60 105.25 97.70 84.25 85.90 74.10

26 212,400 130,000 154.90 130.94 120.66 103.54 106.97 93.27

27 265,200 132,600 194.92 167.08 153.82 132.60 135.25 115.36

28 311,400 155,700 247.56 213.31 199.30 169.71 171.27 146.36

29 360,000 180,000 309.60 264.60 250.20 212.40 212.40 181.80

30 352,800 176,400 328.10 280.48 262.84 224.03 231.08 197.57

31 345,600 172,800 354.24 305.86 279.94 240.19 247.10 209.09

32 338,400 169,200 380.70 323.17 297.79 255.49 260.57 221.65

33 331,200 165,600 404.06 346.10 316.30 269.93 281.52 240.12

34 324,000 162,000 430.92 366.12 338.58 289.98 296.46 254.34

35 315,600 157,800 443.42 378.72 356.63 307.71 309.29 263.53

36 307,200 153,600 460.80 396.29 370.18 317.95 321.02 274.94

37 298,200 149,100 477.12 408.53 386.17 329.51 331.00 284.78

38 289,200 144,600 494.53 425.12 399.10 342.70 345.59 296.43

39 280,200 140,100 512.77 437.11 411.89 351.65 362.86 309.62

40 266,400 133,200 520.81 444.89 416.92 356.98 367.63 314.35

41 252,600 126,300 527.93 450.89 423.11 361.22 371.32 315.75

42 238,800 119,400 533.72 457.30 428.65 367.75 371.33 317.60

43 225,000 112,500 535.50 457.88 430.88 369.00 378.00 324.00

44 211,200 105,600 539.62 461.47 431.90 369.60 376.99 323.14

45 206,400 103,200 562.44 481.94 448.92 382.87 391.13 336.43

46 187,200 93,600 541.94 464.26 432.43 371.59 380.95 325.73

47 168,000 84,000 520.80 445.20 414.12 355.32 363.72 310.80

48 142,200 71,100 467.84 401.00 374.70 320.66 327.06 279.42

49 116,400 58,200 406.82 348.04 325.34 278.78 284.02 243.86

50 90,000 45,000 336.60 288.00 269.55 230.40 235.80 202.05

51 70,200 35,100 279.05 239.38 223.24 190.94 195.16 167.43

52 55,800 27,900 236.59 202.28 188.60 161.82 165.45 141.45

53 49,800 24,900 224.60 192.48 179.53 153.38 157.12 134.71

10 | INSURANCE GUIDE

AgeDefault B death cover amount $

Default B TPD cover amount $


Occupation rating

General B Office B Professional B

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

54 42,600 21,300 205.12 175.51 164.01 140.58 143.56 123.33

55 37,200 18,600 191.39 163.68 153.64 131.32 133.55 114.20

56 33,000 16,500 181.50 155.43 145.37 124.58 127.38 109.23

57 29,400 14,700 173.02 148.03 138.62 118.63 121.28 103.64

58 26,400 13,200 166.85 142.96 133.58 114.05 116.56 99.92

59 23,400 11,700 158.18 135.37 126.13 108.11 110.57 94.65

60 22,000 0 79.64 68.20 63.58 54.34 55.88 47.74

61 21,200 0 82.47 70.60 66.14 56.60 57.66 49.40

62 19,800 0 82.76 70.88 66.33 56.83 57.82 49.50

63 18,800 0 84.41 72.19 67.49 57.72 59.03 50.57

64 17,600 0 84.83 72.51 67.76 57.90 59.31 50.69

When does default death and TPD cover start?Default death and TPD cover starts on the date you satisfy all of the following conditions:


b) your account balance is at least $6,000 and

c) an SG contribution has been received from your employer no earlier than 90 days before, or any time after, the date you satisfied conditions a) and b).

If you opt in early to default cover as your account balance is under $6,000, or you’re under age 25, your cover will start when your application has been accepted and an SG contribution is received from your employer no earlier than 90 days before the date you opt in. See Not yet eligible? You can opt in early on page 5 for details.

Limited cover

When your default death and TPD cover starts, it’s limited cover, meaning you’re not covered for any illnesses or injuries you already have before your cover starts. Limited cover normally ends when you’ve been in active employment

for 30 consecutive days after your cover starts. In certain circumstances, it may be extended to 24 months or more.


Can you get more cover?

If you require more cover than default cover provides you, you can apply for fixed cover at any time. If accepted, your default cover will be converted to fixed cover. You’ll no longer be eligible for default cover in the future. Your cover amount will remain the same and won’t change each birthday.

Convert default cover to fixed coverIf you have default death and TPD cover you may convert this cover to fixed cover. Your cover amount will remain the same and won’t change each birthday. You won't be eligible for default cover in the future.

Example of the cost of default B death and TPD coverJulia is 36, has an occupation rating of office B and is eligible for default B death and TPD cover. Using the cost information from Table B.1, the cost of her cover is calculated as follows:

Default B cover Cover amount Gross annual cost for default B cover (age 36, office B)

Net annual cost for default B cover (age 36, office B)

Death $307,200$370.18 $317.95

TPD $153,600

Annual net cost of cover to be deducted from Julia’s account $317.95

11FIND OUT MORE > 1800 005 166

Fixed death and TPD coverIf you’re not eligible for default cover or want to increase your cover, you can apply for fixed cover at any time. Your cover is subject to eligibility (see page 5) and acceptance by our insurer. You can tailor the amount of cover to suit your personal circumstances by applying for a fixed dollar amount of: • death and TPD cover • death only cover or • TPD only cover.

If you have insufficient funds to pay premiums for 90 days after your fixed cover starts, the insurer’s acceptance will be void and your fixed cover deemed to have never started.

If you have default cover and your application for fixed cover is accepted by the insurer, your default cover will be converted to fixed cover and combined with your accepted cover. You won't be eligible for default cover in the future.

You should also see page 35 for information on the risks to consider when applying for cover with Tasplan to replace cover you already hold in another super fund.

How fixed cover worksIf accepted, the amount of your fixed cover won’t change unless you apply for an increase or decrease in the amount. The cost you pay will increase as you get older.

If you have fixed TPD cover, the amount of your cover will reduce proportionally each year from age 61 to 69.

Age

Percentage of previous years

benefit reduction at each age

Example of reduction in TPD cover: $100,000

commencing at age 62 and reducing each

year by: Cover

amount 61 10.0000% ‑ ‑

62 11.1111% ‑ $100,000

63 12.5000% $100,000 × 12.5%

= $12,500

$87,500

64 14.2857% $87,500 × 14.2857%

= $12,500

$75,000

65 16.6667% $75,000 × 16.6667%

= $12,500

$62,500

66 20.0000% $62,500 × 20.0000%

= $12,500

$50,000

67 25.0000% $50,000 × 25.0000%

= $12,500

$37,500

68 33.3333% $37,500 × 33.3333%

= $12,500

$25,000

69 50.0000% $25,000 × 50.0000%

= $12,500

$12,500

703 100.0000% $12,500 × 100.000%

= $12,500

$0

3Fixed cover ceases when you turn 70.

Applying for fixed coverYou can apply for fixed cover through Tasplan Online, by completing the Apply for cover form available at tasplan.com.au/member-forms or call us on 1800 005 166, and we’ll send you a copy.

Subject to your personal circumstances and the amount of cover you’re applying for, you may be asked to provide additional information to enable our insurer to complete their underwriting assessment.

When assessing your application, the insurer may:

1. Accept cover

This means the insurance cost and terms and conditions detailed in the most recent version of this Insurance guide will apply to your cover.

2. Accept cover with conditions

This means our insurer may impose certain restrictions and limitations on your fixed cover. They may also apply a higher insurance cost, called a loading, in recognition of the increased risk they’ve taken by accepting your application for cover. The loading will apply in addition to the costs detailed in the most recent version of this Insurance guide.

3. Refuse cover

This means you won’t be eligible to receive the cover you’ve applied for.

Please note the following important information

If you have default cover and your application for fixed cover is accepted by our insurer, your default cover will be converted to fixed cover and combined with your accepted cover. You won't be eligible for default cover in the future.

If you’ve previously cancelled cover or reduced your cover, any subsequent application for fixed cover is subject to acceptance by our insurer.



Cost of fixed death and TPD cover There are costs associated with insurance. The gross cost is your insurance premium, plus an insurance administration fee of 4% of your premium. The net cost is the gross cost reduced by a tax deduction of up to 15% of your premium. The net cost is what you pay. Insurance costs are calculated daily and deducted monthly from your Tasplan account. The cost may reduce depending on your occupation rating.

We’re required to show the gross insurance costs, but only net costs are deducted from your account. When working out what your cover will cost, you should refer to the net cost columns. There may be small differences in the costs calculated using the rates in the table and what you’re charged, due to rounding.

The cost of cover depends on your age, the type of cover you hold and your occupation rating. The cost of cover is shown in Table A.2 for fixed A death and TPD cover below and Table B.2 for fixed B death and TPD on page 14. The costs will be higher if your cover has been accepted with loadings.

Table A.2 - Fixed A death and TPD cover

Age

Annual insurance costs for every $1,000 of cover

General A occupation rating Office A occupation rating Professional A occupation rating

Death TPD Death TPD Death TPD

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

15 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

16 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

17 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

18 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

19 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

20 0.50 0.43 0.24 0.20 0.41 0.35 0.19 0.16 0.35 0.30 0.17 0.14

21 0.53 0.45 0.26 0.22 0.43 0.36 0.21 0.18 0.37 0.32 0.18 0.15

22 0.56 0.48 0.29 0.25 0.45 0.38 0.23 0.20 0.40 0.34 0.21 0.18

23 0.59 0.51 0.33 0.28 0.48 0.41 0.26 0.22 0.42 0.36 0.23 0.20

24 0.62 0.53 0.37 0.32 0.50 0.43 0.30 0.26 0.44 0.37 0.26 0.22

25 0.67 0.57 0.42 0.36 0.53 0.45 0.33 0.28 0.47 0.40 0.29 0.25

26 0.70 0.60 0.48 0.41 0.56 0.48 0.38 0.33 0.49 0.42 0.33 0.28

27 0.74 0.63 0.54 0.46 0.59 0.51 0.43 0.36 0.52 0.45 0.37 0.32

28 0.78 0.67 0.61 0.53 0.62 0.53 0.49 0.42 0.55 0.47 0.43 0.36

29 0.83 0.71 0.69 0.59 0.67 0.57 0.55 0.47 0.58 0.50 0.48 0.41

30 0.87 0.75 0.78 0.67 0.71 0.61 0.62 0.53 0.61 0.53 0.55 0.47

31 0.93 0.79 0.88 0.76 0.74 0.63 0.71 0.61 0.64 0.55 0.62 0.53

32 0.98 0.84 1.00 0.85 0.79 0.68 0.80 0.69 0.69 0.59 0.70 0.60

33 1.04 0.89 1.13 0.97 0.83 0.71 0.90 0.77 0.73 0.62 0.79 0.68

34 1.10 0.94 1.28 1.09 0.87 0.75 1.03 0.88 0.77 0.66 0.89 0.77

35 1.15 0.99 1.39 1.19 0.93 0.79 1.11 0.95 0.81 0.69 0.98 0.84

36 1.22 1.04 1.52 1.30 0.97 0.83 1.22 1.04 0.85 0.73 1.06 0.91

37 1.27 1.09 1.65 1.42 1.02 0.87 1.32 1.13 0.89 0.77 1.15 0.99

38 1.34 1.15 1.79 1.53 1.07 0.92 1.44 1.23 0.94 0.80 1.26 1.08

39 1.40 1.20 1.94 1.66 1.12 0.96 1.56 1.34 0.99 0.85 1.36 1.17

40 1.48 1.26 2.12 1.82 1.18 1.01 1.70 1.45 1.03 0.88 1.49 1.27

41 1.55 1.33 2.30 1.97 1.24 1.06 1.84 1.58 1.08 0.93 1.61 1.38

42 1.62 1.39 2.51 2.14 1.30 1.11 2.01 1.72 1.14 0.98 1.75 1.50

43 1.71 1.46 2.72 2.33 1.36 1.17 2.17 1.86 1.20 1.02 1.90 1.63

44 1.80 1.54 2.95 2.53 1.44 1.23 2.37 2.03 1.26 1.08 2.07 1.77

45 1.92 1.65 3.13 2.68 1.54 1.32 2.51 2.14 1.35 1.16 2.19 1.88

46 2.06 1.76 3.32 2.84 1.65 1.42 2.65 2.27 1.45 1.24 2.33 1.99

47 2.22 1.90 3.52 3.01 1.77 1.51 2.82 2.41 1.55 1.33 2.46 2.11

48 2.37 2.03 3.72 3.19 1.89 1.62 2.98 2.55 1.66 1.42 2.61 2.23

13FIND OUT MORE > 1800 005 166

Age


General A occupation rating Office A occupation rating Professional A occupation rating


Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

49 2.54 2.17 3.95 3.38 2.04 1.74 3.16 2.71 1.78 1.52 2.77 2.37

50 2.72 2.33 4.18 3.58 2.18 1.87 3.35 2.87 1.90 1.63 2.93 2.51

51 2.92 2.50 4.43 3.79 2.34 2.00 3.55 3.03 2.05 1.75 3.10 2.65

52 3.13 2.68 4.70 4.02 2.51 2.14 3.75 3.21 2.19 1.88 3.29 2.81

53 3.36 2.87 4.98 4.26 2.68 2.30 3.98 3.41 2.35 2.01 3.48 2.98

54 3.60 3.08 5.27 4.51 2.88 2.47 4.22 3.61 2.52 2.15 3.69 3.16

55 3.87 3.31 5.63 4.81 3.09 2.64 4.50 3.85 2.70 2.31 3.94 3.37

56 4.15 3.55 6.00 5.14 3.32 2.84 4.80 4.11 2.90 2.48 4.20 3.60

57 4.45 3.81 6.40 5.47 3.57 3.05 5.12 4.38 3.12 2.67 4.48 3.84

58 4.78 4.09 6.83 5.85 3.83 3.28 5.46 4.67 3.35 2.87 4.78 4.09

59 5.14 4.40 7.28 6.23 4.11 3.52 5.82 4.98 3.60 3.08 5.10 4.36

60 5.51 4.72 7.77 6.65 4.41 3.77 6.22 5.32 3.86 3.30 5.44 4.65

61 5.92 5.06 8.29 7.09 4.73 4.05 6.62 5.67 4.15 3.55 5.80 4.97

62 6.35 5.44 8.84 7.57 5.09 4.35 7.07 6.05 4.45 3.81 6.19 5.30

63 6.82 5.84 9.43 8.07 5.46 4.67 7.54 6.45 4.77 4.09 6.60 5.65

64 7.33 6.27 10.06 8.61 5.87 5.02 8.05 6.89 5.13 4.39 7.04 6.03

65 8.06 6.90 10.87 9.30 6.45 5.52 8.69 7.44 5.65 4.83 7.60 6.51

66 8.87 7.59 11.73 10.04 7.09 6.07 9.38 8.03 6.21 5.31 8.22 7.03

67 9.76 8.35 12.67 10.84 7.80 6.68 10.14 8.68 6.83 5.85 8.87 7.59

68 10.73 9.18 13.69 11.71 8.58 7.34 10.95 9.37 7.51 6.43 9.58 8.20

69 11.80 10.10 14.78 12.65 9.44 8.08 11.82 10.12 8.26 7.07 10.35 8.86

Example of the cost of fixed A death and TPD coverSteve is 33 and has fixed death and TPD cover of $250,000, with an occupation rating of general A.

Using the cost information from Table A.2, the cost of his cover is calculated as follows:

Fixed cover Cover amount Gross annual cost for fixed A cover (age 33, general A)

Net annual cost for fixed A cover (age 33, general A)

Death $250,000

$1.04 for each $1,000 of cover= $250,000 ÷ 1,000 × $1.04 = $260.00

$0.89 for each $1,000 of cover= $250,000 ÷ 1,000 × $0.89= $222.50

TPD$250,000

$1.13 for each $1,000 of cover= $250,000 ÷ 1,000 × $1.13 = $282.50

$0.97 for each $1,000 of cover= $250,000 ÷ 1,000 × $0.97= $242.50

Annual net cost of cover to be deducted from Steve’s account $222.50 + $242.50 = $465.00


Table B.2 - Fixed B death and TPD cover

Age


General B occupation rating Office B occupation rating Professional B occupation rating


Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

15 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

16 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

17 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

18 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

19 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

20 0.32 0.28 0.23 0.20 0.26 0.22 0.19 0.16 0.23 0.20 0.17 0.14

21 0.34 0.29 0.23 0.20 0.28 0.24 0.19 0.16 0.24 0.20 0.17 0.14

22 0.36 0.31 0.28 0.24 0.29 0.25 0.21 0.18 0.26 0.22 0.19 0.16

23 0.38 0.33 0.30 0.26 0.31 0.27 0.25 0.21 0.27 0.23 0.21 0.18

24 0.41 0.35 0.34 0.29 0.32 0.28 0.28 0.24 0.28 0.24 0.23 0.20

25 0.44 0.37 0.40 0.34 0.34 0.29 0.32 0.28 0.30 0.26 0.28 0.24

26 0.46 0.39 0.44 0.37 0.36 0.31 0.34 0.29 0.32 0.28 0.30 0.26

27 0.48 0.41 0.51 0.44 0.38 0.33 0.40 0.34 0.34 0.29 0.34 0.29

28 0.51 0.44 0.57 0.49 0.41 0.35 0.46 0.39 0.35 0.30 0.40 0.34

29 0.54 0.46 0.64 0.55 0.44 0.37 0.51 0.44 0.37 0.32 0.44 0.37

30 0.57 0.49 0.72 0.61 0.46 0.39 0.57 0.49 0.40 0.34 0.51 0.44

31 0.61 0.53 0.83 0.71 0.49 0.42 0.64 0.55 0.43 0.36 0.57 0.49

32 0.66 0.56 0.93 0.79 0.51 0.44 0.74 0.63 0.45 0.38 0.64 0.55

33 0.69 0.59 1.06 0.91 0.54 0.46 0.83 0.71 0.48 0.41 0.74 0.63

34 0.73 0.62 1.20 1.02 0.57 0.49 0.95 0.81 0.50 0.43 0.83 0.71

35 0.76 0.65 1.29 1.10 0.61 0.53 1.04 0.89 0.53 0.45 0.90 0.77

36 0.80 0.69 1.40 1.20 0.64 0.55 1.13 0.97 0.55 0.47 0.99 0.85

37 0.84 0.72 1.52 1.30 0.68 0.58 1.23 1.05 0.58 0.50 1.06 0.91

38 0.88 0.76 1.66 1.42 0.71 0.61 1.34 1.15 0.62 0.53 1.15 0.99

39 0.93 0.79 1.80 1.54 0.74 0.63 1.46 1.25 0.66 0.56 1.27 1.09

40 0.97 0.83 1.97 1.68 0.78 0.67 1.57 1.34 0.69 0.59 1.38 1.18

41 1.02 0.87 2.14 1.83 0.82 0.70 1.71 1.46 0.72 0.61 1.50 1.28

42 1.07 0.92 2.33 1.99 0.86 0.74 1.87 1.60 0.75 0.64 1.61 1.38

43 1.12 0.96 2.52 2.15 0.90 0.77 2.03 1.74 0.79 0.68 1.78 1.52

44 1.18 1.01 2.75 2.35 0.95 0.81 2.19 1.88 0.83 0.71 1.91 1.64

45 1.27 1.09 2.91 2.49 1.01 0.86 2.33 1.99 0.88 0.76 2.03 1.74

46 1.35 1.16 3.09 2.64 1.08 0.93 2.46 2.11 0.95 0.81 2.17 1.86

47 1.46 1.25 3.28 2.80 1.16 1.00 2.61 2.23 1.02 0.87 2.29 1.96

48 1.56 1.34 3.46 2.96 1.25 1.07 2.77 2.37 1.09 0.93 2.42 2.07

49 1.66 1.42 3.67 3.14 1.33 1.14 2.93 2.51 1.16 1.00 2.56 2.19

50 1.80 1.54 3.88 3.32 1.44 1.23 3.11 2.66 1.26 1.08 2.72 2.33

15FIND OUT MORE > 1800 005 166

Age


General B occupation rating Office B occupation rating Professional B occupation rating


Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

Gross cost $

Net cost $

51 1.92 1.65 4.11 3.52 1.53 1.31 3.30 2.82 1.34 1.15 2.88 2.47

52 2.06 1.76 4.36 3.73 1.64 1.41 3.48 2.98 1.44 1.23 3.05 2.61

53 2.20 1.89 4.62 3.95 1.76 1.50 3.69 3.16 1.54 1.32 3.23 2.77

54 2.37 2.03 4.89 4.18 1.89 1.62 3.92 3.36 1.65 1.42 3.44 2.95

55 2.54 2.17 5.21 4.46 2.04 1.74 4.18 3.58 1.77 1.51 3.64 3.12

56 2.72 2.33 5.56 4.76 2.18 1.87 4.45 3.81 1.91 1.64 3.90 3.34

57 2.92 2.50 5.93 5.07 2.34 2.00 4.75 4.07 2.05 1.75 4.15 3.55

58 3.15 2.70 6.34 5.43 2.52 2.15 5.08 4.34 2.20 1.89 4.43 3.79

59 3.38 2.89 6.76 5.79 2.69 2.31 5.40 4.62 2.36 2.02 4.73 4.05

60 3.62 3.10 7.22 6.18 2.89 2.47 5.77 4.94 2.54 2.17 5.05 4.33

61 3.89 3.33 7.69 6.58 3.12 2.67 6.16 5.27 2.72 2.33 5.38 4.60

62 4.18 3.58 8.22 7.03 3.35 2.87 6.55 5.61 2.92 2.50 5.74 4.91

63 4.49 3.84 8.75 7.48 3.59 3.07 6.99 5.98 3.14 2.69 6.14 5.25

64 4.82 4.12 9.34 7.99 3.85 3.29 7.48 6.40 3.37 2.88 6.53 5.59

65 5.29 4.53 10.08 8.62 4.24 3.63 8.07 6.91 3.71 3.18 7.06 6.04

66 5.83 4.99 10.89 9.32 4.66 3.99 8.73 7.47 4.08 3.49 7.61 6.51

67 6.41 5.48 11.76 10.07 5.13 4.39 9.41 8.05 4.49 3.84 8.24 7.05

68 7.05 6.03 12.69 10.86 5.65 4.83 10.15 8.69 4.94 4.23 8.88 7.60

69 7.76 6.64 13.73 11.75 6.21 5.31 10.98 9.40 5.44 4.65 9.60 8.21

Example of the cost of fixed B death and TPD coverPat is 44 and has fixed death and TPD cover of $250,000 with an occupation rating of general B.

Using the cost information from Table B.2, the cost of her cover is calculated as follows:

Fixed cover Cover amount Gross annual cost for fixed B cover (age 44, general B)

Net annual cost for fixed B cover (age 44, general B)

Death $250,000 $1.18 for each $1,000 of cover= $250,000 ÷ 1,000 × $1.18 = $295.00

$1.01 for each $1,000 of cover= $250,000 ÷ 1,000 × $1.01= $252.50

TPD $250,000 $2.75 for each $1,000 of cover= $250,000 ÷ 1,000 × $2.75 = $687.50

$2.35 for each $1,000 of cover= $250,000 ÷ 1,000 × $2.35= $587.50

Annual net cost of cover to be deducted from Pat’s account $252.50 + $587.50 = $840.00


Interim accident coverYou’re provided with interim accident cover while our insurer assesses your application for fixed death and/or TPD cover. This means that if you die or become totally and permanently disabled as a result of an accident before they’ve finalised their assessment of your application, the benefit you receive will include interim accident cover.

The amount of interim accident cover is limited to the lesser of:• the amount of cover you are applying for or• $1 million.

An accident means death or total and permanent disablement caused solely and directly by an accidental event which was violent, external and visible and is independent of any other cause.

If you’re applying for both death and TPD cover and become eligible for a benefit, we’ll only pay for either accidental death or accidental TPD, not both.

Your interim accident cover will end on the earlier of:• the date that our insurer accepts or declines your application for fixed cover• the date that you cancel or withdraw your application • the date an interim accident benefit becomes payable • 90 days after the date that you apply for fixed cover.

17FIND OUT MORE > 1800 005 166

Life events coverIf your personal circumstances have changed, it may be time to review your insurance.

When one of the following life events occurs, you can increase your cover without having to provide detailed health information. You’ll need to provide the following documentation to confirm your life event.

Life event Evidence requiredGet married Certified copy of marriage

certificate.

Get divorced Certified copy of divorce order.

Birth or adoption of a child Certified copy of the child’s birth certificate or adoption certificate with your name appearing as mother or father.

You take out a new mortgage on the initial purchase of your primary residence

Letter from the lender showing the identity of the lender and confirming:• the amount of the

loan to purchase your principal place of residence and

• the loan has been drawn‑down (not just approved) and

• a statutory declaration declaring that the mortgaged property is your principal place of residence.

Your spouse dies Certified copy of the death certificate.

Your child attends primary or secondary school for the first time

Copy of your child’s enrolment and confirmation of attendance.

You can increase your death and/or TPD cover up to the lesser of:• an amount equal to your existing cover or• $200,000.

Any loadings or exclusions applying to your existing cover will also apply to any increased cover.

If you have default cover and your application for life events cover is accepted by the insurer, your default cover will be converted to fixed cover and combined with your life events cover. You won't be eligible for default cover in the future.

Eligibility for life events coverYou’ll be eligible to receive the additional cover if: • the date of your life event occurs while you're an insured

member with Tasplan• your application for increased cover, plus the evidence in

the table opposite, is made within 60 days after the date of your life event

• you haven't previously increased cover under a life event• you haven't received, or been entitled to receive, a

terminal illness or total and permanent disability benefit payment from Tasplan

• your cover hasn't been cancelled• your application is received before you become disabled

or die.

If you’re not in active employment at the time you increase your cover, your increased cover amount will be limited cover. See page 5 for the further information on limited cover.

Any limitation, restriction or loading that applies to your existing death and TPD cover will also apply to the increased cover.

You can apply for life events cover through Tasplan Online, by completing the Life events form at tasplan.com.au/member-forms or call us on 1800 005 166, and we’ll send you a copy.

Life events cover will start on the date our insurer accepts your application.

Cancelling or reducing your death and TPD coverYou can cancel or reduce your death and TPD cover at any time:• through Tasplan Online• by calling us on 1800 005 166 • by completing the Manage your cover form available at

tasplan.com.au/member-forms.

When you cancel your cover: • you won’t be able to make a claim for insurance benefits

for events or conditions that arise after your cover has been cancelled

• we’ll no longer deduct insurance costs from your account, once your final insurance costs have been deducted

• if you’re replacing your cover, you shouldn’t cancel your existing cover until the replacement cover is in place

• you can get independent financial advice to help you to decide whether you should cancel your cover4.

If you cancel your default cover within 30 days of starting, we’ll refund any insurance costs you’ve paid and it will be considered to have never started. Insurance costs aren't refunded when you cancel your cover after 30 days from the date it started.

If you reduce your default cover, any amount of death and/or TPD cover you keep will be converted to fixed cover and you won't be eligible for default cover in the future. Your cover amount will stay the same and will no longer change automatically on your birthday.

There’s no fee to cancel or reduce your cover, however insurance costs are payable up to the date we receive your request to cancel your cover. This means that a final insurance cost may be deducted from your account after we cancel your cover.4For information on financial advice available from Tasplan, see page 3.




3. Income protection coverIncome protection cover provides for the payment of a monthly benefit in the event you’re unable to work due to illness or injury that causes you to be totally or partially disabled. The monthly benefit is payable after your waiting period ends. The maximum time it's payable for is your benefit period. See page 20 for more information about benefit periods and waiting periods.

There are two types of income protection cover with Tasplan:

Type of cover Your age Benefit Default income protection cover

25‑55 56‑59

Automatically provided when you meet the conditions detailed in Eligibility for default cover on page 5. • 75% of monthly income, plus up to 10% super contributions cover with a 2‑year benefit

period and 90‑day waiting period. • 50% of monthly income, plus up to 10% super contributions cover with a 2‑year benefit

period and 90‑day waiting period.

Fixed income protection cover

15‑64 You can apply for fixed income protection cover at any time if you meet the conditions detailed in Eligibility for fixed cover on page 5. You’ll need to provide detailed health information and your cover is subject to acceptance by the insurer.

Default income protection coverDefault income protection cover is automatically provided to members who are employed by an eligible employer when they meet the eligibility criteria on page 5 without the need to provide health information.

Default income protection cover provides:• a monthly cover amount – based on your SG contributions received by Tasplan• 90‑day waiting period • two‑year benefit period.

If you want to have a shorter waiting period or longer benefit period you’ll need to apply for fixed cover. See page 20 for details on fixed income protection cover.

You’ll need to have your SG contributions paid to your Tasplan account to be eligible for any default income protection cover. Your monthly cover amount is calculated by determining a monthly income amount based on your SG contributions received by Tasplan.


Calculating your monthly cover when it first startsWhen your cover starts, the sum of all your SG contributions received during the first 90 days is divided by the SG rate (currently 9.5%) to give us your total income amount for the 90‑day period. We then work out your estimated annual income based on this result to determine your monthly income amount. Your monthly cover amount is:

If under 56:

Monthly cover amount = Monthly income amount × 85% (75% plus super contribution benefit of 10%)

If 56 or over:

Monthly cover amount = Monthly income amount × 60% (50% plus super contribution benefit of 10%)

ExampleJill turned 25, had $6,000 in her account and on her 25th birthday had been receiving SG contributions from her eligible employer for the past year. The total SG contributions for the 90 days prior to her 25th birthday was $1,500.

The calculation of her monthly cover amount (rounded to the nearest whole dollar) is:

Step Calculation Result

Income for first 90 days $1,500 (SG contributions) ÷ 9.5% (SG rate) $15,789

Estimated annual income amount $15,789.47 ÷ 90 days × 365 days $64,035

Monthly income amount $64,035 estimated annual income amount ÷ 12 months $5,336

Monthly cover amount $5,336 × 85% $4,536


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The minimum amount of default monthly cover is $1,000. The maximum amount of default monthly cover is $16,000.

If we determine that your monthly cover amount is greater than $16,000, your default monthly cover amount will be capped at $16,000. You’ll need to apply for any cover above $16,000. Your application is subject to acceptance by our insurer. If accepted, all cover will be converted to fixed cover and you’ll no longer hold default income protection cover.

If you require more cover than default cover provides you, you can apply for fixed cover at any time. If accepted, your default cover will be converted to fixed cover. You won't be eligible for default cover in the future.

Review of your default income protection cover amountYour default income protection cover amount will be reviewed, no earlier than six months after it starts, and then on your birthday and half birthday.

Your monthly cover amount is determined based on the employer SG contributions paid to Tasplan divided by the relevant SG rate and your age.

If, at your review, your monthly cover amount falls below $1,000, your default income protection cover will be cancelled. Your cover may restart if you meet eligibility conditions in the future. For details of the eligibility conditions, see page 5.

When does default income protection cover start?Default income protection cover starts on the date you satisfy all of the following conditions:





If your account balance is under $6,000 or you’re under age 25 you may be able to start your default cover earlier by choosing to opt in. See Not yet eligible? You can opt in early on page 5 for details.

Limited cover

When your default income protection cover starts, it’s limited cover, meaning you’re not covered for any illnesses or injuries you already have before your cover starts. Limited cover normally ends when you’ve been in active employment for 30 consecutive days after your cover starts. In certain circumstances, it may be extended to 24 months or more.



Convert default income protection cover to fixed coverIf you’re under age 54 you can convert your default income protection cover to fixed cover at any time. Your cover amount won’t be reviewed in line with your SG contributions but will be indexed each year on your birthday by the lesser of consumer price index (CPI) or 5%. You won't be eligible for default cover in the future. You can convert your cover through Tasplan Online, by calling us on 1800 005 166 or by completing the Manage your cover form available at tasplan.com.au/member-forms.

Fixed income protection coverIf you’re not eligible for default income protection cover or want to have cover that's different to default cover, you can apply for fixed income protection cover at any time. Fixed income protection cover is subject to acceptance by the insurer and starts on the date the insurer accepts your application. If you have insufficient funds to pay premiums for 90 days after your fixed cover starts, the insurer’s acceptance will be void and your fixed cover deemed to have never started.

You should also see page 35 for information on the risks to consider when applying for cover with Tasplan to replace cover you already hold in another super fund.

Cover indexationAll fixed income protection cover will be indexed each year on your birthday by the lesser of CPI or 5%. It starts no earlier than 12 months from the date your cover starts.

Your income protection optionsWhen applying for fixed income protection cover you need to nominate the amount of income you want insured, the benefit period and waiting period, allowing you to tailor cover to suit your personal circumstances. The maximum monthly benefit amount is $30,000.

Regardless of the amount of cover you have at the time of claim, the benefit payable to you can’t exceed 85% of your pre‑disability income. 75% of your pre‑disability income will be paid to you as income, with the balance of up to 10% paid as SG contributions. See Your pre-disability income on page 28 for more information.

Benefit periodsThe benefit period is the maximum time over which an income protection claim will be paid. There are three benefit periods to choose from:• two years• five years• to age 65.

The benefit period for default cover is two years. If you currently have default cover you can, subject to acceptance by the insurer, increase your benefit period to five years or to age 65. If you make an application to change your benefit period, the change won’t apply until our insurer accepts your application. If accepted, your cover will be converted to fixed cover and you’ll no longer hold default cover. You won't be eligible for default cover in the future.

Different insurance costs apply to each benefit period. See the Cost of cover section starting on page 21 for more information.

If you’re on a claim and your income protection cover has a benefit period of five years or until age 65, your monthly benefit will be indexed by the lesser of CPI or 5%. The increases will be made at the end of each consecutive 12‑month period.

Waiting periodsThe waiting period is the continuous period in days that you have to be disabled before a benefit is payable. There are three waiting periods to choose from:• 90 days• 60 days• 30 days.

The waiting period for default cover is 90 days. If you currently have default cover you can, subject to acceptance by the insurer, decrease your waiting period to 60 or 30 days. If you make an application to change your waiting period, the change won’t apply until our insurer accepts your application. If accepted, your cover will be converted to fixed cover and you’ll no longer hold default cover. You won't be eligible for default cover in the future.

Different insurance costs apply for each waiting period. See the Cost of cover section starting on page 21 for more information.

During the waiting period you must satisfy the eligibility criteria for payment of a total disability benefit or a partial disability benefit. You can continue to be paid any accrued sick leave, annual leave or long service leave entitlements. See page 29 for more information about when your monthly benefit may be reduced while you’re receiving other disability income.

Applying for fixed income protection coverYou can apply for fixed income protection cover through Tasplan Online, by completing the Manage your insurance form available at tasplan.com.au/member-forms or call us on 1800 005 166, and we’ll send you a copy.

Subject to your personal circumstances and the amount of cover you’re applying for, you may be asked to provide additional information to enable our insurer to complete their underwriting assessment.

When assessing your application, our insurer may:

1. Accept cover

This means the insurance cost and terms and conditions detailed in the most recent version of this Insurance guide will apply to your cover.

2. Accept cover with conditions

This means the insurer may impose certain restrictions and limitations on your cover. The insurer may also apply a higher insurance cost, called a loading, in recognition of the increased risk the insurer takes by accepting your application for cover. The loading will apply in addition to the costs detailed in the most recent version of this Insurance guide.

If a loading, restriction or limitation applies, you’ll be advised in the letter regarding the acceptance of your cover.

3. Refuse cover

This means you won’t be eligible to receive the cover you’ve applied for.



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Interim accident coverYou’re provided with interim accident cover while the insurer assesses your application for fixed income protection cover. This means that if you become totally disabled as a result of an accident before the insurer has finalised assessment of your application, the benefit you receive will include interim accident cover.

The amount of monthly interim accident cover is limited to the lesser of:• the amount of cover you're applying for or• $15,000.

An accident means a total disablement caused solely and directly by an accidental event which was violent, external and visible and is independent of any other cause.

Your interim accident cover will end on the earlier of:• the date that the insurer accepts or declines your

application for fixed cover• the date that you cancel or withdraw your application • the date an interim accident benefit becomes payable • 90 days after the date that you apply for fixed cover.

A benefit period of two years and the waiting period that you're applying for will apply to interim accident cover.

If a benefit is paid under interim accident cover your application for fixed cover will be cancelled.

Cancelling or reducing your income protection coverYou can cancel or reduce your income protection cover at any time:• through Tasplan Online• by calling us on 1800 005 166 • by completing the Manage your cover form available at

tasplan.com.au/member-forms.

When you cancel your cover: • you won’t be able to make a claim for insurance benefits

for events or conditions that arise after your cover has been cancelled

• we’ll no longer deduct insurance costs from your account, once your final insurance costs have been deducted

• if you’re replacing your cover, you shouldn’t cancel your existing cover until the replacement cover is in place

• you can get independent financial advice to help you to decide whether you should cancel your cover5.

If you cancel your default cover within 30 days of starting, we’ll refund any insurance costs you’ve paid and it will be considered to have never started. Insurance costs aren’t refunded when you cancel your cover after 30 days from the date it started.

If you reduce your default cover, any amount of income protection cover you keep will be converted to fixed cover and you’ll no longer be eligible for default cover. Your cover amount will be indexed each year on your birthday by the lesser of CPI or 5%.

There’s no fee to cancel or reduce your cover, however insurance costs are payable up to the date we receive your request to cancel your cover. This means that a final insurance cost may be deducted from your account after we cancel your cover.5For information on financial advice available from Tasplan, see page 3.

Cost of coverThe cost of default and fixed income protection cover is detailed in Table 1 for the two‑year benefit, Table 2 for the five‑year benefit and Table 3 for the to age 65 benefit.

The gross cost is your insurance premium, plus an insurance administration fee of 4% of your premium. The net cost is the gross cost reduced by a tax deduction of up to 15% of your premium. The net cost is what you pay. Insurance costs are calculated daily and deducted monthly from your Tasplan account. The cost may reduce depending on your occupation rating.

We’re required to show the gross insurance costs, but only net costs are deducted from your Tasplan account. There may be small differences between the costs calculated using the rates in the table and what you’re charged, due to rounding.

The cost of your income protection cover depends on your:• age • occupation rating • monthly benefit amount• waiting period• benefit period.

The cost of your cover generally increases each year as you get older and will be higher if your cover has been accepted with loadings.

There are three occupation ratings:• General• Office• Professional.

Your occupation rating will be General unless you qualify for Office or Professional. See the Occupation rating section on page 5 for more information.



When working out what your cover will cost, you should refer to the net cost columns.Table 1 - Income protection – two-year benefit

Age

Annual costs for every $100 of monthly cover

General occupation rating Office occupation rating Professional occupation rating

Waiting period Waiting period Waiting period

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

Gross cost $ Net cost $ Gross cost $ Net cost $ Gross cost $ Net cost $

15 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

16 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

17 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

18 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

19 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

20 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

21 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

22 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

23 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

24 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

25 5.56 3.65 2.09 4.76 3.12 1.79 3.89 2.56 1.47 3.33 2.19 1.25 3.12 2.04 1.16 2.67 1.74 1.00

26 5.69 3.75 2.17 4.87 3.21 1.86 3.98 2.63 1.52 3.41 2.25 1.30 3.19 2.10 1.22 2.73 1.80 1.04

27 5.87 3.87 2.25 5.02 3.31 1.92 4.11 2.71 1.57 3.52 2.32 1.34 3.28 2.17 1.26 2.80 1.86 1.08

28 6.09 4.01 2.32 5.22 3.44 1.98 4.26 2.81 1.62 3.65 2.40 1.39 3.41 2.26 1.29 2.92 1.93 1.10

29 6.36 4.17 2.39 5.45 3.57 2.05 4.45 2.92 1.67 3.81 2.50 1.43 3.56 2.34 1.34 3.04 2.00 1.15

30 6.68 4.36 2.45 5.71 3.73 2.10 4.67 3.05 1.72 4.00 2.61 1.47 3.74 2.44 1.37 3.20 2.09 1.17

31 7.05 4.57 2.53 6.03 3.91 2.16 4.93 3.20 1.78 4.22 2.74 1.52 3.95 2.56 1.41 3.38 2.19 1.21

32 7.47 4.79 2.62 6.39 4.10 2.24 5.22 3.36 1.84 4.47 2.87 1.58 4.18 2.68 1.48 3.58 2.30 1.26

33 7.90 5.06 2.74 6.76 4.33 2.34 5.54 3.55 1.91 4.74 3.03 1.64 4.43 2.83 1.53 3.79 2.42 1.31

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Age




30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days


34 8.41 5.37 2.87 7.20 4.59 2.46 5.88 3.74 2.01 5.03 3.20 1.72 4.71 3.01 1.60 4.03 2.57 1.37

35 8.93 5.69 3.04 7.65 4.87 2.60 6.26 3.98 2.12 5.36 3.41 1.82 5.01 3.19 1.70 4.29 2.73 1.45

36 9.52 6.05 3.23 8.14 5.18 2.77 6.66 4.24 2.27 5.70 3.63 1.94 5.34 3.39 1.81 4.57 2.90 1.55

37 10.13 6.46 3.47 8.67 5.53 2.97 7.09 4.52 2.42 6.07 3.87 2.07 5.67 3.61 1.94 4.85 3.09 1.66

38 10.78 6.92 3.74 9.23 5.92 3.20 7.55 4.84 2.62 6.46 4.14 2.24 6.03 3.87 2.10 5.16 3.31 1.80

39 11.48 7.40 4.07 9.83 6.34 3.48 8.03 5.19 2.84 6.87 4.44 2.43 6.43 4.15 2.28 5.50 3.55 1.95

40 12.21 7.95 4.45 10.45 6.80 3.81 8.55 5.55 3.11 7.32 4.75 2.66 6.83 4.45 2.49 5.85 3.81 2.13

41 12.99 8.53 4.88 11.12 7.30 4.17 9.09 5.97 3.41 7.78 5.11 2.92 7.27 4.77 2.74 6.22 4.09 2.34

42 13.82 9.17 5.38 11.83 7.85 4.60 9.67 6.43 3.75 8.28 5.50 3.21 7.74 5.14 3.02 6.62 4.40 2.58

43 14.70 9.87 5.94 12.58 8.45 5.08 10.29 6.92 4.15 8.80 5.92 3.55 8.24 5.53 3.33 7.05 4.73 2.85

44 15.62 10.64 6.56 13.37 9.10 5.62 10.93 7.45 4.60 9.35 6.37 3.93 8.75 5.96 3.67 7.48 5.10 3.14

45 16.60 11.47 7.26 14.20 9.82 6.21 11.63 8.02 5.09 9.95 6.86 4.35 9.29 6.43 4.07 7.95 5.50 3.48

46 17.64 12.36 8.04 15.09 10.57 6.88 12.34 8.65 5.64 10.56 7.40 4.82 9.88 6.93 4.50 8.46 5.93 3.85

47 18.75 13.33 8.90 16.05 11.41 7.62 13.11 9.34 6.24 11.22 7.99 5.34 10.49 7.47 4.98 8.98 6.39 4.26

48 19.93 14.37 9.85 17.05 12.30 8.43 13.95 10.06 6.90 11.93 8.61 5.90 11.16 8.05 5.51 9.55 6.89 4.72

49 21.18 15.52 10.88 18.13 13.28 9.31 14.83 10.87 7.60 12.69 9.30 6.51 11.87 8.68 6.09 10.15 7.43 5.22

50 22.54 16.74 11.99 19.29 14.33 10.26 15.78 11.71 8.40 13.50 10.02 7.19 12.62 9.37 6.72 10.80 8.02 5.75

51 23.99 18.05 13.21 20.53 15.45 11.30 16.79 12.64 9.25 14.36 10.81 7.91 13.43 10.12 7.39 11.49 8.66 6.33

52 25.55 19.49 14.52 21.87 16.68 12.42 17.89 13.64 10.16 15.31 11.68 8.70 14.31 10.91 8.13 12.25 9.34 6.96

53 27.25 21.03 15.93 23.32 18.00 13.63 19.07 14.72 11.16 16.32 12.59 9.55 15.26 11.77 8.92 13.06 10.07 7.64

54 29.08 22.67 17.44 24.88 19.40 14.93 20.35 15.87 12.21 17.42 13.58 10.45 16.29 12.71 9.78 13.94 10.88 8.37

55 31.08 24.46 19.05 26.59 20.93 16.30 21.75 17.12 13.34 18.61 14.65 11.42 17.40 13.70 10.67 14.89 11.72 9.13

56 33.26 26.40 20.77 28.46 22.59 17.77 23.28 18.47 14.55 19.92 15.81 12.45 18.63 14.78 11.64 15.94 12.65 9.96

57 35.65 28.48 22.60 30.51 24.37 19.34 24.95 19.94 15.82 21.35 17.06 13.54 19.97 15.94 12.66 17.09 13.64 10.83

58 38.27 30.72 24.52 32.75 26.29 20.99 26.79 21.51 17.18 22.93 18.41 14.70 21.43 17.20 13.74 18.34 14.72 11.76

59 41.17 33.13 26.57 35.24 28.36 22.74 28.82 23.20 18.61 24.66 19.86 15.92 23.06 18.56 14.88 19.73 15.89 12.74

60 44.39 35.78 28.72 37.99 30.62 24.58 31.06 25.04 20.11 26.58 21.43 17.21 24.86 20.03 16.09 21.27 17.14 13.77

61 47.94 38.62 30.98 41.03 33.05 26.51 33.55 27.03 21.69 28.71 23.13 18.57 26.85 21.63 17.36 22.98 18.51 14.85

62 51.92 41.70 33.36 44.43 35.69 28.55 36.33 29.19 23.35 31.09 24.98 19.98 29.07 23.36 18.68 24.88 19.99 15.98

63 55.22 44.94 36.54 47.26 38.46 31.27 38.66 31.46 25.57 33.08 26.92 21.89 30.92 25.17 20.46 26.46 21.54 17.51

64 28.13 22.27 17.46 24.07 19.05 14.94 19.69 15.58 12.22 16.85 13.33 10.46 15.75 12.47 9.78 13.47 10.67 8.37

Example of the cost of income protection - two-year benefitMurray is 42 and has default income protection cover with a monthly cover of $5,000, a 90‑day waiting period and two‑year benefit period. His occupation rating is general.

Using the cost information from Table 1 – Income protection – two-year benefit, the cost of his cover is calculated as follows:

Income protection

Cover amount Gross annual cost for monthly cover (age 42, general)

Net annual cost for monthly cover (age 42, general)

Default income protection

$5,000 each month

$5.38 for each $100 of cover

= $5,000 ÷ 100 × $5.38

= $269.00


= $5,000 ÷ 100 × $4.60

= $230.00

Annual net cost of cover to be deducted from Murray’s account $230.00


Table 2 - Income protection – five-year benefit

Age




30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days


15 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

16 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

17 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

18 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

19 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

20 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

21 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

22 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

23 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

24 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

25 7.43 5.04 3.09 6.35 4.32 2.64 5.20 3.53 2.16 4.45 3.02 1.85 4.16 2.82 1.73 3.56 2.41 1.48

26 7.64 5.23 3.26 6.54 4.48 2.79 5.36 3.66 2.29 4.58 3.13 1.96 4.28 2.93 1.83 3.67 2.51 1.57

27 7.95 5.45 3.41 6.80 4.66 2.92 5.55 3.82 2.39 4.75 3.27 2.05 4.45 3.06 1.90 3.81 2.62 1.63

28 8.31 5.70 3.56 7.11 4.88 3.04 5.82 3.98 2.49 4.98 3.41 2.13 4.65 3.19 1.99 3.98 2.73 1.70

29 8.76 5.97 3.69 7.49 5.11 3.16 6.14 4.18 2.59 5.25 3.58 2.22 4.91 3.35 2.06 4.20 2.87 1.76

30 9.27 6.28 3.83 7.93 5.38 3.28 6.49 4.40 2.67 5.55 3.76 2.29 5.19 3.52 2.14 4.44 3.01 1.83

31 9.86 6.62 3.98 8.44 5.67 3.41 6.91 4.64 2.79 5.91 3.97 2.39 5.52 3.71 2.24 4.73 3.18 1.91

32 10.50 7.02 4.15 8.99 6.01 3.55 7.36 4.91 2.91 6.30 4.20 2.49 5.89 3.93 2.32 5.04 3.36 1.98

33 11.23 7.45 4.36 9.61 6.37 3.73 7.86 5.22 3.05 6.73 4.47 2.61 6.29 4.17 2.44 5.38 3.57 2.09

34 12.02 7.95 4.60 10.29 6.80 3.93 8.41 5.55 3.22 7.20 4.75 2.76 6.74 4.45 2.58 5.77 3.81 2.21

35 12.89 8.49 4.89 11.03 7.26 4.18 9.02 5.94 3.42 7.72 5.08 2.93 7.22 4.75 2.74 6.18 4.07 2.34

36 13.81 9.09 5.23 11.82 7.78 4.48 9.66 6.36 3.67 8.27 5.45 3.14 7.73 5.09 2.93 6.61 4.35 2.51

37 14.80 9.78 5.66 12.66 8.37 4.84 10.36 6.83 3.96 8.86 5.85 3.39 8.29 5.47 3.17 7.09 4.68 2.71

38 15.86 10.51 6.14 13.57 9.00 5.25 11.10 7.36 4.30 9.50 6.30 3.68 8.88 5.89 3.43 7.60 5.04 2.94

39 17.00 11.35 6.72 14.55 9.71 5.75 11.90 7.95 4.70 10.18 6.80 4.02 9.52 6.34 3.75 8.14 5.43 3.21

40 18.21 12.26 7.38 15.58 10.49 6.32 12.75 8.58 5.17 10.91 7.34 4.42 10.19 6.86 4.14 8.72 5.87 3.54

41 19.50 13.26 8.15 16.69 11.35 6.98 13.66 9.28 5.70 11.69 7.94 4.88 10.92 7.43 4.57 9.35 6.35 3.91

42 20.87 14.35 9.04 17.86 12.28 7.73 14.61 10.05 6.32 12.50 8.60 5.41 11.69 8.04 5.05 10.00 6.88 4.33

43 22.33 15.57 10.03 19.11 13.32 8.58 15.64 10.90 7.03 13.39 9.33 6.02 12.50 8.73 5.63 10.70 7.47 4.81

44 23.89 16.89 11.17 20.44 14.45 9.56 16.73 11.82 7.81 14.32 10.12 6.68 13.38 9.46 6.25 11.45 8.10 5.35

45 25.55 18.34 12.43 21.87 15.69 10.64 17.89 12.83 8.70 15.31 10.98 7.45 14.31 10.28 6.96 12.25 8.79 5.95

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Age




30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days


46 27.34 19.91 13.84 23.40 17.03 11.85 19.13 13.95 9.69 16.37 11.93 8.29 15.31 11.16 7.75 13.10 9.55 6.63

47 29.23 21.63 15.41 25.02 18.51 13.19 20.47 15.14 10.78 17.52 12.96 9.23 16.37 12.12 8.63 14.01 10.37 7.39

48 31.27 23.50 17.14 26.76 20.11 14.67 21.89 16.45 12.00 18.73 14.08 10.27 17.51 13.17 9.60 14.99 11.27 8.21

49 33.48 25.54 19.05 28.65 21.86 16.30 23.42 17.88 13.33 20.04 15.30 11.41 18.74 14.30 10.66 16.04 12.24 9.12

50 35.84 27.75 21.12 30.67 23.75 18.08 25.08 19.42 14.79 21.47 16.62 12.66 20.06 15.54 11.84 17.17 13.30 10.13

51 38.40 30.15 23.40 32.86 25.80 20.03 26.87 21.10 16.37 23.00 18.06 14.01 21.50 16.88 13.10 18.40 14.44 11.21

52 41.17 32.75 25.86 35.24 28.03 22.13 28.81 22.92 18.11 24.65 19.62 15.49 23.06 18.34 14.48 19.73 15.69 12.39

53 44.18 35.57 28.52 37.81 30.44 24.40 30.93 24.90 19.97 26.47 21.31 17.09 24.74 19.93 15.97 21.17 17.05 13.67

54 47.48 38.63 31.39 40.63 33.05 26.86 33.23 27.04 21.98 28.44 23.14 18.81 26.58 21.63 17.58 22.75 18.51 15.04

55 51.06 41.94 34.48 43.70 35.89 29.50 35.74 29.36 24.14 30.59 25.12 20.66 28.60 23.49 19.31 24.48 20.11 16.53

56 55.03 45.53 37.78 47.09 38.96 32.33 38.51 31.88 26.45 32.96 27.28 22.63 30.80 25.50 21.15 26.36 21.82 18.10

57 59.37 49.43 41.29 50.81 42.30 35.33 41.56 34.60 28.91 35.56 29.61 24.74 33.25 27.68 23.12 28.45 23.69 19.78

58 64.18 53.65 45.04 54.92 45.92 38.55 44.93 37.55 31.53 38.45 32.14 26.98 35.94 30.05 25.22 30.76 25.71 21.58

59 69.51 58.25 49.03 59.49 49.85 41.95 48.65 40.77 34.31 41.63 34.89 29.36 38.93 32.61 27.45 33.31 27.91 23.49

60 77.94 69.18 62.02 66.70 59.20 53.07 54.56 48.43 43.41 46.69 41.45 37.15 43.65 38.74 34.74 37.35 33.15 29.73

61 73.16 64.18 56.85 62.61 54.92 48.65 51.21 44.93 39.79 43.82 38.45 34.05 40.97 35.94 31.83 35.06 30.76 27.24

62 65.15 56.20 48.89 55.75 48.10 41.84 45.59 39.34 34.23 39.02 33.67 29.29 36.47 31.48 27.37 31.21 26.94 23.42

63 55.22 44.94 36.54 47.26 38.46 31.27 38.66 31.46 25.57 33.08 26.92 21.89 30.92 25.17 20.46 26.46 21.54 17.51

64 28.13 22.27 17.46 24.07 19.05 14.94 19.69 15.58 12.22 16.85 13.33 10.46 15.75 12.47 9.78 13.47 10.67 8.37


Table 3 - Income protection – to age 65 benefit

Age




30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

Gross cost Net cost Gross cost Net cost Gross cost Net cost

15 20.96 15.76 11.50 17.93 13.48 9.84 14.67 11.03 8.05 12.56 9.44 6.89 11.73 8.82 6.44 10.04 7.55 5.51

16 20.96 15.76 11.50 17.93 13.48 9.84 14.67 11.03 8.05 12.56 9.44 6.89 11.73 8.82 6.44 10.04 7.55 5.51

17 20.96 15.76 11.50 17.93 13.48 9.84 14.67 11.03 8.05 12.56 9.44 6.89 11.73 8.82 6.44 10.04 7.55 5.51

18 20.94 15.74 11.48 17.92 13.47 9.83 14.65 11.02 8.04 12.54 9.43 6.88 11.72 8.81 6.43 10.03 7.54 5.50

19 20.91 15.71 11.47 17.90 13.45 9.82 14.63 11.00 8.02 12.52 9.42 6.86 11.71 8.80 6.43 10.02 7.53 5.50

20 20.88 15.69 11.44 17.87 13.43 9.79 14.61 10.98 8.01 12.50 9.40 6.85 11.69 8.79 6.42 10.00 7.52 5.49

21 20.85 15.66 11.42 17.84 13.40 9.77 14.59 10.96 8.00 12.49 9.38 6.84 11.68 8.77 6.41 9.99 7.50 5.48

22 20.81 15.64 11.40 17.81 13.39 9.75 14.57 10.94 7.98 12.47 9.36 6.83 11.66 8.76 6.38 9.98 7.49 5.46

23 20.77 15.60 11.38 17.77 13.35 9.74 14.55 10.92 7.97 12.45 9.35 6.82 11.64 8.74 6.36 9.96 7.48 5.45

24 20.73 15.57 11.35 17.74 13.32 9.71 14.51 10.90 7.95 12.42 9.33 6.80 11.62 8.73 6.35 9.94 7.47 5.44

25 20.62 15.50 11.29 17.65 13.26 9.67 14.45 10.86 7.90 12.36 9.29 6.76 11.55 8.67 6.32 9.89 7.42 5.41

26 21.48 16.35 12.17 18.38 13.99 10.41 15.03 11.44 8.52 12.86 9.79 7.29 12.02 9.16 6.81 10.29 7.84 5.83

27 22.54 17.24 12.92 19.29 14.76 11.05 15.78 12.06 9.05 13.50 10.32 7.74 12.62 9.66 7.23 10.80 8.27 6.19

28 23.80 18.17 13.57 20.36 15.55 11.61 16.65 12.73 9.51 14.25 10.89 8.13 13.33 10.17 7.59 11.41 8.70 6.50

29 25.26 19.17 14.18 21.62 16.40 12.13 17.69 13.42 9.93 15.14 11.48 8.50 14.14 10.73 7.95 12.10 9.18 6.80

30 26.93 20.24 14.76 23.04 17.32 12.63 18.86 14.16 10.33 16.14 12.12 8.84 15.08 11.34 8.27 12.91 9.70 7.08

31 28.78 21.39 15.36 24.63 18.31 13.15 20.14 14.98 10.75 17.24 12.82 9.20 16.12 11.98 8.60 13.80 10.25 7.36

32 30.80 22.66 16.02 26.36 19.39 13.71 21.56 15.87 11.21 18.45 13.58 9.59 17.24 12.70 8.96 14.76 10.87 7.67

33 33.00 24.06 16.75 28.24 20.59 14.34 23.10 16.85 11.72 19.77 14.42 10.03 18.47 13.48 9.38 15.81 11.53 8.03

34 35.34 25.58 17.62 30.24 21.89 15.08 24.74 17.91 12.32 21.17 15.33 10.55 19.79 14.33 9.86 16.94 12.26 8.44

35 37.84 27.27 18.63 32.38 23.34 15.94 26.48 19.08 13.04 22.66 16.33 11.16 21.18 15.27 10.43 18.13 13.07 8.93

36 40.46 29.11 19.82 34.62 24.91 16.96 28.32 20.38 13.87 24.23 17.44 11.87 22.65 16.30 11.10 19.38 13.95 9.50

37 43.21 31.12 21.23 36.98 26.63 18.16 30.25 21.79 14.86 25.89 18.65 12.72 24.19 17.42 11.88 20.70 14.91 10.16

38 46.08 33.31 22.86 39.44 28.51 19.56 32.26 23.32 16.00 27.61 19.95 13.69 25.80 18.65 12.79 22.08 15.96 10.95

39 49.05 35.67 24.73 41.97 30.53 21.16 34.33 24.97 17.32 29.38 21.37 14.82 27.47 19.98 13.85 23.50 17.10 11.85

40 52.10 38.23 26.87 44.59 32.72 23.00 36.47 26.76 18.80 31.21 22.90 16.09 29.18 21.40 15.05 24.97 18.32 12.88

41 55.24 40.97 29.29 47.28 35.06 25.06 38.67 28.67 20.50 33.09 24.54 17.54 30.94 22.94 16.40 26.48 19.63 14.04

42 58.46 43.89 31.98 50.03 37.56 27.37 40.92 30.73 22.39 35.02 26.30 19.16 32.74 24.59 17.90 28.02 21.04 15.32

43 61.72 47.00 34.94 52.82 40.22 29.90 43.21 32.90 24.46 36.98 28.15 20.93 34.57 26.31 19.56 29.58 22.52 16.74

44 65.05 50.26 38.17 55.67 43.01 32.66 45.53 35.18 26.72 38.96 30.11 22.86 36.43 28.15 21.37 31.18 24.09 18.29

45 68.40 53.68 41.64 58.54 45.94 35.64 47.88 37.58 29.15 40.98 32.16 24.95 38.30 30.06 23.33 32.78 25.72 19.96

46 71.77 57.23 45.34 61.42 48.98 38.80 50.24 40.07 31.73 43.00 34.29 27.15 40.19 32.04 25.39 34.39 27.42 21.72

47 75.14 60.88 49.22 64.30 52.10 42.12 52.59 42.62 34.46 45.01 36.47 29.49 42.08 34.10 27.56 36.01 29.18 23.59

48 78.47 64.59 53.24 67.15 55.28 45.56 54.93 45.22 37.26 47.01 38.70 31.89 43.95 36.17 29.82 37.61 30.95 25.52

49 81.76 68.33 57.35 69.97 58.47 49.07 57.23 47.83 40.14 48.98 40.93 34.35 45.79 38.26 32.12 39.19 32.74 27.48

50 84.96 72.03 61.45 72.70 61.64 52.59 59.48 50.42 43.01 50.90 43.15 36.81 47.57 40.33 34.41 40.71 34.51 29.45

51 88.03 75.63 65.49 75.33 64.72 56.04 61.62 52.94 45.83 52.73 45.30 39.22 49.30 42.35 36.67 42.19 36.24 31.38

52 90.91 79.05 69.34 77.79 67.65 59.34 63.64 55.34 48.54 54.46 47.36 41.54 50.91 44.26 38.82 43.57 37.88 33.22

27FIND OUT MORE > 1800 005 166

Age




30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

30 days

60 days

90 days

Gross cost Net cost Gross cost Net cost Gross cost Net cost

53 93.54 82.18 72.89 80.05 70.33 62.38 65.48 57.52 51.02 56.03 49.23 43.66 52.38 46.02 40.81 44.83 39.38 34.92

54 95.83 84.92 75.99 82.00 72.67 65.03 67.08 59.45 53.20 57.41 50.87 45.52 53.66 47.55 42.56 45.92 40.69 36.42

55 97.66 87.11 78.50 83.57 74.55 67.18 68.35 60.99 54.94 58.49 52.19 47.02 54.69 48.79 43.96 46.81 41.75 37.62

56 98.89 88.62 80.23 84.63 75.84 68.65 69.22 62.03 56.15 59.24 53.08 48.05 55.38 49.63 44.92 47.39 42.47 38.44

57 99.36 89.22 80.93 85.03 76.35 69.26 69.54 62.46 56.65 59.51 53.45 48.48 55.64 49.97 45.32 47.62 42.76 38.79

58 98.84 88.70 80.41 84.59 75.91 68.81 69.18 62.09 56.28 59.20 53.13 48.17 55.35 49.67 45.03 47.37 42.51 38.54

59 97.02 86.75 78.34 83.03 74.23 67.04 67.91 60.73 54.85 58.12 51.97 46.94 54.33 48.58 43.87 46.49 41.57 37.54

60 93.52 83.02 74.42 80.03 71.05 63.69 65.47 58.12 52.10 56.03 49.73 44.59 52.37 46.49 41.67 44.82 39.78 35.66

61 87.79 77.02 68.21 75.12 65.91 58.38 61.45 53.91 47.74 52.59 46.14 40.85 49.16 43.13 38.19 42.07 36.91 32.68

62 78.17 67.44 58.66 66.89 57.72 50.20 54.71 47.21 41.07 46.82 40.40 35.15 43.77 37.77 32.85 37.46 32.32 28.12

63 66.27 53.93 43.84 56.71 46.16 37.51 46.39 37.76 30.69 39.70 32.32 26.26 37.11 30.20 24.55 31.76 25.85 21.01

64 33.77 26.72 20.95 28.90 22.86 17.92 23.64 18.70 14.66 20.23 16.00 12.55 18.91 14.96 11.73 16.18 12.80 10.04

Example of the cost of income protection - to age 65 benefitMeg is 32 and has fixed income protection cover with a monthly benefit of $6,000, a 90‑day waiting period and benefit period to age 65. Her occupation rating is office.

Using the cost information from Table 3 – Income protection – to age 65 benefit, the cost of her cover is calculated as follows:

Income protection

Cover amount Gross annual cost for monthly cover (age 32, office)

Net annual cost for monthly cover (age 32, office)

Fixed income protection

$6,000 each month


= $6,000 ÷ 100 × $11.21

= $672.60


= $6,000 ÷ 100 × $9.59

= $575.40

Annual net cost of cover to be deducted from Meg’s account $575.40


When is your income protection benefit payable?If you’re suffering from a total disability or partial disability as defined below, your monthly income protection benefit will be payable after the end of the waiting period that applies to you.

Definition of total disabilityYou’re suffering a total disability if Tasplan and our insurer, where applicable, are satisfied that because of illness or injury you’ve ceased to be gainfully employed and are:• unable to perform at least one income‑producing duty of

your own occupation• under the regular care of, and following the advice of, a

medical practitioner and• not working in any occupation, whether or not for reward.

Your monthly benefit ‑ total disabilityA monthly benefit is payable if you’re unable to work because you’re suffering from total disability. The amount of your monthly benefit is the lesser of the following amounts:

Default cover benefit

The lesser of:• your monthly cover • $30,000 each month and• either:

‑ 85% of your pre‑disability income, where you’re aged 55 or under or

‑ 60% of your pre‑disability income, where you’re aged 56 to 59.

Fixed cover benefit

The lesser of:• your monthly cover • $30,000 each month and• 85% of your pre‑disability income.

Super contribution Default cover benefit:

If you have default cover on the date of disablement, and your monthly benefit exceeds:• 75% of your pre‑disability income, where you’re aged

55 or under or• 50% of your pre‑disability income, where you’re aged

56 to 59

we’ll pay the amount of monthly benefit that's in excess of 75% or 50% (as applicable) of your pre‑disability income as a super contribution to your Tasplan account up to a maximum of 10%.

Fixed cover benefit:

If you have fixed cover on the date of disablement, and your monthly benefit exceeds 75% of your pre‑disability income we’ll pay the amount of monthly benefit that's in excess of 75% as a super contribution to your Tasplan account up to a maximum of 10%.

Your pre‑disability incomeYour monthly pre‑disability income is used to calculate your monthly benefit payable in the event of a successful claim.

If you’re not self-employed your monthly benefit is calculated as follows:

The average monthly earnings received from your employer(s) for personal exertion in the previous 12‑month period, including salary sacrifice amounts but excluding mandated super contributions, profit distributions (or any income that doesn’t cease on disablement), any other non‑regular payments, and allowances to cover expenses. If your income includes commissions or bonuses, these components will be averaged over three years.

If you weren't employed 12 months prior to the date that your pre‑disability income is calculated, your average monthly earnings will be calculated over the period starting from the date you were first employed within the previous 12 months (subject to a minimum of six months if you weren't in permanent employment).

If you were in permanent employment and you had a pay rise in the last 12 months, your average monthly earnings will be calculated over the period since the increase occurred.

If you were on parental leave, your average monthly earnings will be calculated over the period starting 12 months before your parental leave started.

If you’re self-employed or own part or all of the business providing your income your monthly benefit is calculated as:

The average monthly share of earnings (being gross revenue generated by the business as a result of your personal exertion less business expenses) received by you in a month, calculated over the previous 12 months. Income excludes investment income, mandated super contributions and any component of your income that doesn't cease when you're unable to work.

Definition of partial disability or partially disabledYou’re suffering a partial disability or you’re partially disabled if Tasplan and our insurer, are satisfied that you’re not totally disabled but, because of illness or injury, you:• were totally disabled for at least 14 days• you were unable to work in your own occupation at full

capacity because of the illness or injury that caused your total disability

• you’re working in your own occupation in a reduced capacity or working in another occupation

• you earn an amount that is less than your monthly pre‑disability income and

• you’re under the regular care of, and following the advice of, a medical practitioner.

29FIND OUT MORE > 1800 005 166

Your monthly benefit ‑ partial disabilityThe partial disability monthly benefit is payable when you’re no longer totally disabled, but you’re still partially disabled and unable to work in your occupation in the capacity you were immediately before your total disability.

Your partial disability monthly benefit is your monthly benefit proportionally reduced by any income you’ve earned from employment during the month and is calculated as follows:

WhereCurrent income is the actual monthly income you earned working for your employer during the month. See Your current income below.

Pre-disability income is the monthly income you earned immediately before you became disabled, as described. See Your pre-disability income on page 28.

Monthly benefit is your monthly benefit. See Your monthly benefit-total disability on page 28.

Partial disability benefit super contribution benefitWhere your monthly benefit for default cover is more than 75% (aged 55 and under) or 50% (aged 56‑59) of your pre‑disability income, a portion of your partial disability benefit will be paid to your Tasplan account as a super contribution.

This will be calculated by determining the amount of the monthly benefit which exceeds 75% or 50% (as applicable) of your pre‑disability income, up to a maximum of 10%. We'll then pay a percentage of this amount as a super contribution to your Tasplan account. The percentage we'll pay is the percentage of your monthly benefit that we calculated using the partial disability benefit formula above.

Reduction of your monthly benefit when in receipt of other disability incomeYour monthly total or partial benefit will be reduced by your current income (see below) where you receive, or are entitled to receive, any of the following forms of other disability income. If your monthly benefit is reduced or becomes zero for one or more months, those months will still be counted as part of the benefit period.

Your current incomeYour current income includes any of the following benefits or entitlements which were paid or are required to be paid to you during the month or which, though not actually paid, can be reasonably apportioned to you for the month in question:• the amount of any income (other than your Tasplan

income protection benefit) or commutation of income paid or payable to you as a result of your illness or injury, including: ‑ sick leave payments (actually paid) ‑ income under legislation such as workers compensation ‑ any disability, injury or illness policy (other than lump

sum total and permanent disablement or lump sum super payments).

• income from personal exertion while you’re disabled other than income from your employer

• any amounts payable for loss of earnings or loss of earning capacity as a result of personal injury (for example, an award of damages or a settlement of a claim for damages under common law)

• in relation to the super contribution benefit, any benefits payable from other income protection policies which wholly or partially replaces mandated employer contributions.

Any amount which is in the form of a lump sum or is exchanged for a lump sum, has a monthly income equivalent of 1/60th of the lump sum over a period of 60 months.

Recurrent disabilityIf you become totally or partially disabled again from the same or a related cause within six months of last receiving an income protection benefit, this will be treated as a continuation of the original claim and the waiting period won’t apply. The subsequent periods of disability will be added to the original claim to determine when the benefit period ends.

If after six months of your return to work you’re disabled again, you’ll be required to make a new claim for benefit payment. A new waiting period will apply, however all periods of disability from the previous claim will be counted to determine when the benefit period ends.

If you become totally or partially disabled again from an unrelated injury or illness to your previous claim we’ll treat this disability as a new and separate claim. A new waiting period and benefit period will apply.

Benefit indexationIf you have a benefit period that's five years or to age 65, and we've been paying you a disability benefit for 12 consecutive months, we’ll increase your disability benefit by the lesser of:• the consumer price index and• 5%.

We’ll continue to apply this increase annually as long as we're paying you a disability benefit.

If the increase causes the disability benefit to be higher than $30,000 each month the increase won't be applied.

Income protection benefits and taxIf you receive income protection benefits, your monthly benefit will be paid directly to you as taxable income. Pay as you go (PAYG) withholding tax will be deducted from the benefit payment before it’s paid, and forwarded to the Australian Taxation Office (ATO).

When does my benefit get paid? We pay disability benefits in arrears, immediately following the month that they relate to. If a benefit is payable for less than a month we’ll pay 1/30th of the monthly benefit for each day the benefit is payable.

(Pre-disability income − current income)

Pre-disability income

x monthly benefit


What information we need on claimWhen receiving a monthly benefit, the continued payment of this benefit during your benefit period is subject to the completion and outcomes of:• regular medical reviews, including compliance with any

reasonable medical treatment or rehabilitation programs• income reviews and• the approval of Tasplan and the insurer, where applicable.

You’re responsible for the cost of all standard medical reports required for the continued payment of income protection benefits.

Our insurer may arrange for their own medical examinations and non‑evasive tests. They have the discretion to appoint a medical practitioner or other health professional of their choice. They'll pay the fees and the costs of the examinations and tests, however, unless otherwise agreed won’t pay any other costs related to attending appointments, including costs of travelling or for non‑attendance.

In some circumstances, you may be required to undertake an occupational rehabilitation program, if the insurer reasonably believes it will assist you to return to work. If this occurs, the insurer will pay the cost of the program directly to the service provider. If you refuse to take part in the program, your monthly benefit may be reduced by the amount of income the insurer estimates you could reasonably earn if you had participated in the program.

When does my monthly benefit stop?Your total disability benefit starts the day after the waiting period has ended and will be paid until the earliest of the following:• you’re no longer totally disabled• the end of the benefit period• you reach age 65• your death.

Your partial disability benefit starts the day after the waiting period has ended or the day after you’re no longer totally disabled and will continue until the earliest of the following:• you’re no longer partially disabled• the end of your benefit period• you reach age 65• your death.

The benefit period that applies to your income protection cover, starts on the date that the waiting period has ended.

Occupational rehabilitationIn addition to the payment of your income protection benefit, the insurer may assist you with the payment of eligible rehabilitation expenses where those expenses are directly related to assisting you to return to work in a gainful occupation or undertake a vocational retraining program because of your disability.

The payment of rehabilitation expenses is subject to a number of conditions including:

1. a medical practitioner certifying that the rehabilitation program is necessary to assist you to return to work

2. the insurer approving the expenditure before it’s incurred and

3. the costs being incurred to directly assist you to return to work in a gainful occupation or to undertake a vocational retraining program because of your disability with the aim of assisting you to become capable of returning, or attempting to return, to work.

Tasplan and our insurer, where applicable, will notify you during the on‑going assessment of your income protection claim if particular rehabilitation treatments will qualify for the payment.

4. Changing employment to an eligible employerDefault death and TPDIf you hold default A death and TPD cover and become employed by an eligible employer, your cover will be converted to default B cover. This happens when your first SG contribution is paid into your Tasplan account from your eligible employer. As long as you continue to have cover, you’ll retain default B cover regardless of any future employment changes you make. For details on default B death and TPD cover see Table B.1 on page 9.

Default income protectionYou may also be eligible to opt in to default income protection cover. We’ll notify you of the offer and it will be available for 90 days from the date the first SG contribution is received from your eligible employer. If you already have income protection cover with Tasplan or have previously opted out, you won’t be eligible for the offer.

If you accept the offer, you won't have to wait till your account balance is $6,000 and you're aged 25 or over. Your cover will start when at least $650 of SG contributions has been received over a 90‑day period, no earlier than the date your application is accepted by us. If you don't accept the offer, you won't be eligible for default income protection in the future. For details on default income protection see section 3. Income protection cover starting on page 18. To accept the offer, go to Tasplan Online or call us on 1800 005 166.

Fixed coverIf you hold fixed death and TPD cover and we receive an SG contribution from an eligible employer, the cost of your cover will change. See Table B.2 on page 14 for details of the costs that will apply. As long as you continue to have cover, Table B.2 costs will continue regardless of any future employment changes you make.

If you hold fixed income protection cover this will continue unchanged.

Occupation ratingYour existing occupation rating will continue unless you apply to change it. See Occupation rating on page 5 for details.


31FIND OUT MORE > 1800 005 166

Limited coverConverting your default A death and TPD cover to default B cover may result in increases to your cover. The additional cover will be limited cover until you’ve been in active employment for 30 consecutive days after your default B cover starts, if the first SG contribution from your eligible employer is received within 120 days of you commencing employment.

If the first SG contribution is received more than 120 days after commencing with your eligible employer, the additional cover will be limited cover for 24 months after your default B cover starts. If you’re not in active employment for the final 30 consecutive days before the 24‑month period expires, the limited cover provisions

will continue to apply until you’ve been in active employment for the 30 consecutive days.

Limited cover means you're not covered for pre‑existing illnesses or injuries. For more details on limited cover, see page 5.

You're normally considered to be in active employment if you're: • not absent from work or on leave, due to illness or injury • not receiving or entitled to receive income support benefits of

any kind • capable of performing the duties of your job for 35 hours a

week, even if you don't work 35 hours each week.

See page 36 for the full definition of active employment.

5. Transferring your insurance from another fundYou may be able to transfer your current death, TPD or income protection cover from another super fund to Tasplan without having to provide detailed health information. You can only transfer the cover associated with another super fund, not personal or retail life insurance. See page 35 for more information on the risks to consider when transferring cover from another fund to Tasplan.

Eligibility criteriaAll transferred cover is subject to acceptance by the insurer and the following conditions must be met:• you're under age 60• you're in active employment on the date you apply• you complete the insurance transfer application to the insurer’s

satisfaction, including providing the appropriate evidence issued within the last six months by your previous fund

• you must transfer your total account balance from your previous super fund to Tasplan

• you haven’t received or you’re not eligible for the payment of a disability benefit under any policy, including workers compensation

• the insurer must be satisfied that you’re not suffering from a terminal illness that reduces your life expectancy to less than 24 months

• you must have sufficient money in your account to pay the cost of the cover transferred. Otherwise the cover won’t be considered to have started, your application won’t be considered to have been proceeded with and the insurer’s acceptance will be void.

Death and TPD cover Any death and/or TPD cover you transfer to Tasplan will be fixed cover. If you currently have any default cover with Tasplan, this will be converted to fixed cover and added to your transferred cover amount. The maximum amount of death and/or TPD cover following a transfer when added to any existing cover can’t exceed $2 million.

Any individual exclusions, restrictions or premium loadings which applied to the cover in your previous fund will continue to apply with Tasplan. Death cover can't be transferred if it's subject to a loading of more than 200%. TPD cover can't be transferred if it's subject to a loading of more than 150%, has more than three exclusions applied or if the combination of loadings or exclusions are greater than 150%, where each exclusion is equivalent to a 50% loading.

Income protection cover Any income protection cover you transfer to Tasplan will be fixed cover and will replace any income protection cover you currently hold with Tasplan.

If the benefit period under your current income protection policy isn’t available with Tasplan, you’ll be provided with cover for the next shortest benefit period. For example, if your current policy has a three‑year benefit period, the two‑year benefit period will be applied to the transferred cover.

If the waiting period under your current policy isn’t available with Tasplan, you’ll be provided with the next longest waiting period. For example, if your current policy has a 14‑day waiting period, a 30‑day waiting period will be applied to the transferred cover.

Any individual exclusions, restrictions or premium loadings which applied to your cover in your previous fund will continue to apply with Tasplan. Income protection cover can't be transferred if it's subject to a loading of more than 150%, has more than three exclusions applied or if the combination of loadings or exclusions are greater than 150%, where each exclusion is equivalent to a 50% loading.

How to transfer coverYou can apply to transfer cover through Tasplan Online or by completing the Transfer of cover form available at tasplan.com.au/member-forms.

You’ll also need to provide an up‑to‑date Member statement or declaration from your other super fund that is less than six months old which includes details of:• the amount and type(s) of cover you hold• any exclusions, special conditions or loadings that apply and• the benefit and waiting periods applicable (income protection

cover only).

Your application to transfer cover is subject to acceptance by our insurer.

Transferred cover will start on the date your total account balance from your previous fund is received by Tasplan.

Combining your super accounts?

Check if you have insurance with your other fund before combining your accounts, as your cover will be cancelled when your account is closed. If you want to transfer your insurance, you should do this before you transfer your account balance.



6. Cover ending and restartingWhen does cover end?Your cover will end on the earliest of:

Cover type Age cover endsDefault death 65

Default TPD

Default income protection 60

Fixed death and/or TPD 70

Fixed income protection 65

• the date you cease to be a member of Tasplan• for death and/or TPD cover, the date that a terminal illness or TPD benefit becomes payable to you under this policy6

• the date you notify Tasplan that you wish to cancel your cover• the date you join the armed forces, excluding the Australian Armed Forces Reserve• the day you die• the first day of the month that your Tasplan account is insufficient to pay that month’s insurance cost deduction• the date that your default monthly cover amount falls below $1,000 (default income protection cover)• the date that your account is inactive for a continuous period of 16 months and you haven’t elected to keep your cover.6If death cover is greater than TPD cover, the death cover will continue but will be reduced by the amount of the TPD benefit paid.

Keeping your insurance if your account is inactiveYou can tell us to keep your cover even if your account becomes inactive in the following ways: • through Tasplan Online or• complete the Keep my cover form available at tasplan.com.au/member-forms.

Alternatively, you can make your account active again by making a contribution or transferring super into your account.

When can cover restart?

Voluntary cancellation of coverIf you’ve chosen to cancel your death, TPD or income protection cover and, in the future, want to get cover again you can make an application for fixed cover through Tasplan Online or by completing the Apply for cover form available at tasplan.com.au/member-forms and providing detailed health information. Your application for fixed cover is subject to acceptance by our insurer.

Involuntary cancellation of default coverYour default cover may be cancelled automatically in certain circumstances. It may also automatically restart when the conditions in the table below are satisfied. You won’t, however be covered for any gap in cover between the date your cover is cancelled and the date it restarts. The option to opt in early isn't available if cover is restarting.

Cover can be cancelled because you: Default cover can restart if:• don’t have enough money in your account

to pay for the cost of your cover • your account is inactive for 16 months and

you haven’t elected to keep your cover• join the armed forces of any country (other

than the Australian Armed Forces Reserves)• have default income protection cover that

falls below $1,000 each month.

• you’re not in the armed forces of any country (other than the Australian Armed Forces Reserves)

• on the date you satisfy all of the following eligibility conditions: ‑ For default death and TPD cover:



c) a SG contribution has been received from your employer no earlier than 90 days before, or any time after, the date you satisfied conditions a) and b).

‑ For default income protection cover:







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The type and amount of cover you receive depends on your age and employer at the date your cover restarts, as shown in the table below.

Employer Your age Default cover type Cover amount

You work for any employer (other than an eligible employer).25‑59 Default A death and TPD.

See Table A.1 on page 7.60‑64 Default A death only.

You work for an eligible employer (see page 4).

25‑59 Default B death and TPD.See Table B.1 on page 9.


25‑59 Default income protection. See Table 1 on page 22.

A general occupation rating will apply when your cover restarts and you’ll need to apply to update your occupation rating (see page 5 for information on occupation ratings). Any limitations or restrictions that applied to your cancelled cover will continue to apply when your cover restarts. See page 5 for more information on limited cover.


Involuntary cancellation of fixed coverFixed cover may be cancelled, if: • you don’t have enough money in your account to pay for the cost of your cover • your account is inactive for 16 months and you haven’t elected to keep your cover.

If you want to get cover again you can make an application for fixed cover through Tasplan Online or by completing the Apply for cover form at tasplan.com.au/member-forms and providing detailed health information. Your application for fixed cover is subject to acceptance by our insurer.

7. Limitations and exclusionsYou need to be aware of the following limitations and exclusions which may affect your cover.

Death and TPD coverThe following exclusions apply to your death, terminal illness and TPD cover:

War exclusionWe won’t pay a benefit if a member’s death, terminal illness or TPD is caused directly or indirectly by an act of war while they're overseas. This exclusion doesn't apply if the member dies while on service with the Australian Armed Forces Reserves.

SanctionsNo benefit will be payable where the payment would expose our insurer, Tasplan or a member to any sanction, prohibition or restriction under the United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, Australia or United States of America.

Suicide exclusionsLimited cover conditions

Where limited cover conditions apply to a member for 24 months or more we won’t pay a benefit if their death, terminal illness or TPD is directly or indirectly caused by:• suicide or attempted suicide or• intentional self‑inflicted injury or illness

for the first 24 months after cover starts or increases.

Fixed cover and life events cover

Where cover is provided to a member as fixed cover or through life events, we won’t pay a benefit if their death, terminal illness or TPD is directly or indirectly caused by:• suicide or attempted suicide or• intentional self‑inflicted injury or illness

for the first 12 months after cover starts or increases.

Interim accident cover

Where cover is provided under interim accident cover, we won’t pay a benefit if the member’s death or TPD is directly or indirectly caused by:• suicide or attempted suicide or• intentional self‑inflicted injury or illness.


ExclusionsYou won’t be paid an income protection benefit if an illness, injury or medical condition is directly or indirectly caused by:• acts of war and military service:

‑ an act of war or ‑ service in the armed forces of any country (other than the

Australian Armed Forces Reserve, whilst not in active duty)• attempted suicide or intentional self‑inflicted injury or illness• normal and uncomplicated pregnancy or childbirth,

including miscarriage.

No benefit will be payable where the payment would expose our insurer, Tasplan or a member to any sanction, prohibition or restriction under the United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, Australia or United States of America.

We won’t pay a benefit if the payment would cause our insurer to infringe the Private Health Insurance Act 2007 (Cth) or any other legislation in connection with health insurance.

Unpaid leaveIf you go on unpaid leave for reasons other than injury or illness, we’ll continue to cover you while you’re an insured member. If you become disabled during a period of unpaid leave, your disability benefit won’t accrue until the later of:• the end of your waiting period or• the return to work date your employer had approved

prior to commencing unpaid leave.


If you’ve been on unpaid leave for 12 months or less as at the date of disablement, your pre‑disability income will be calculated as at the date immediately before the unpaid leave started. Otherwise it will be calculated as at the date of disablement.

Transitioning from basic death and TPD cover to default death and TPD cover on 1 July 2019If you held basic death and TPD cover with Tasplan Super immediately before 1 July 2019 and automatically received default death and TPD

cover on 1 July 2019, any increases in your death or TPD cover on 1 July 2019 will be limited cover if you weren’t in active employment on 1 July 2019. Limited cover will continue to apply until you’ve returned to active employment with your employer for at least 30 consecutive days.

However, if the cover you had before 1 July 2019 was subject to a longer period of limited cover conditions the longer period will apply. See page 5 for more information on limited cover.

8. Important informationFrequently asked questions

How do I pay for my cover?The cost of your cover is deducted from your Tasplan account.

Can I claim a tax deduction for the cost of cover?You can’t claim a tax deduction for the cost of cover paid from your Tasplan account.

Tasplan can claim a 15% tax deduction for the cost of providing insurance, which we pass straight back to you through reduced insurance costs.

Any tax related enquiries should be directed to your tax adviser.

What happens if I travel or move overseas?Once your cover starts you’re covered anywhere in the world, 24 hours a day, regardless of your residential status.

If you make a claim, you may be required to return to Australia for assessment. This will be at your expense.

Any payments made under the insurance policy must be made in Australia and in Australian currency.

Income protection benefits will be paid for a maximum of 12 months while you’re living outside of Australia, unless agreed to in writing by the insurer.

Am I covered if I take leave without pay?If you have death and TPD cover and/or income protection cover and you take leave without pay, your cover will generally continue. There’s no time limit on absence from work for death and TPD cover as long as your cover hasn't ended.

With income protection cover, your default income protection cover amount is based on SG contributions received by Tasplan. If your SG contributions cease your cover will reduce and may end.

If you’re on leave without pay and become totally disabled, income protection benefit payments won’t start any earlier than your specified return‑to‑work date that was approved by your employer before you went on leave.

Do I pay insurance costs while I’m receiving income protection benefits?No you don’t pay the cost of your income protection cover while you’re receiving income protection benefits.

How can I make a claim?You should notify Tasplan of any claim or a potential claim as soon as possible after the event occurs.

You can submit your claim through Tasplan Online, complete claim forms, or call us to arrange to lodge your claim with our insurer over the phone.

Before an insured benefit is paid, you must:• provide satisfactory proof of identity• complete any relevant claim forms and provide supporting

evidence of the claims• provide such medical, income or other evidence required, at

your expense• undergo any medical or other examination which is

reasonably required• comply with any reasonable medical treatment or

rehabilitation program.

In the event of your death, your beneficiaries or the executor of your estate should contact Tasplan to confirm what’s required.

How long does a death or TPD claim take?Early advice of a claim or prospective claim can enable earlier assessment and improved chances of rehabilitation.

Death and TPD claims can take an extended period of time to assess.

The fact that you’ve qualified for a workers compensation settlement or a Centrelink disability pension doesn’t automatically mean you qualify for a TPD or income protection benefit.

How is a TPD claim assessed under the TPD definition? The TPD definition has three parts: • Part A – unable to work• Part B – specific loss or activities of daily work • Part C – domestic duties.

The part that your claim will be assessed under depends on your age and employment status at your date of disablement. See page 36 for the definitions for TPD.

Under age 65 and employedIf you’re under age 65 at your date of disablement and you’ve been gainfully employed at any time in the six months before your date of disablement, you must satisfy either Part A, Part B or Part C of the TPD definition.

Over age 65 or not employed in the last six monthsIf you’re 65 or over at your date of disablement, or you’ve not been gainfully employed any time in the six months before your date of disablement, you’ll need to satisfy Part B or Part C of the TPD definition.

Unemployment due to COVID-19 and TPD claimsIf you became unemployed due to COVID‑19 and subsequently lodge a TPD claim due to illness or injury, you may be assessed using the TPD definition that applied to your working arrangements on 11 March 2020. You need to meet the following conditions: • you must have been working in your normal capacity on

11 March 2020

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• you became unemployed due to COVID‑19 on or after 11 March 2020

• you became totally and permanently disabled as a result of illness or injury between 11 March 2020 and 31 December 2020, inclusive

• you lodged a completed claim on or before 31 March 2021.

Date of disablementThe specific definition for the date of disablement applicable to your claim depends on the part of the TPD definition that your claim is being assessed under. In general, your date of disablement is the later of the date: • a medical practitioner certifies that due to illness or injury,

you’re disabled from work or performing domestic duties and• you cease working or cease being able to perform work

activities or domestic duties (depending on the part of the TPD definition that applies to you).

See page 37 for the full definition of date of disablement.

How is my death and/or TPD benefit paid in the event of a claim?If you die, suffer from a terminal illness or you become totally and permanently disabled and you’re entitled to cover for the specified event, any proceeds received from the insurer on your behalf will be credited to your Tasplan account. Your benefit from Tasplan will be the balance of your Tasplan account which includes any lump sum insurance proceeds received.

What do I need to consider when replacing cover held with another fund?There are some things you should be aware of when you apply for cover with Tasplan. If you're replacing existing cover you hold with another super fund or you're applying to transfer in cover held with another fund: • you shouldn’t cancel the cover you have with the other

super fund until your application is accepted • there are general risks associated with changing existing

cover as insurance terms and conditions may be different. You should consider whether there will be any changes to insurance definitions, waiting periods, benefit periods or any other loss of benefits

• you should understand your duty of disclosure and the implications of any non‑disclosure on your application (even when unintentional).

Additionally, when applying to transfer in cover from another super fund: • any limitations, restrictions, loadings or exclusions that

applied to your cover in the previous fund will continue to apply with Tasplan

• once your application is accepted, if you don't cancel all of your cover with your previous fund, any benefit payable from Tasplan will be reduced by the amount of cover you have kept with your previous fund.

About our insurerTasplan undertakes regular reviews of insurance offered by the market and, as a result of this process, appoints an insurer to provide death, TPD and income protection cover for Tasplan members.

MetLife is the appointed insurer for Tasplan. MetLife (ABN 75 004 274 882) has been a specialist provider of life insurance products in Australia since 2005 and insures millions of Australians.

More information about our insurer is available at tasplan.com.au/insurance or call us on 1800 005 166.

Duty of disclosureA person who enters into an insurance contract in respect of their life has a duty, before entering into the contract, to tell the insurer anything that he or she knows, or could reasonably be expected to know, that may affect the insurer’s decision to provide the insurance and on what terms.

The person entering into the contract has this duty until the insurer agrees to provide the insurance.

The person entering into the contract has the same duty before he or she extends, varies or reinstates the contract.

The person entering into the contract doesn't need to tell us anything that: • reduces the risk he or she is insured for or • is common knowledge or • we know or should know, or the insurer should know as

an insurer.

If you don’t tell us something that you know (or that you could reasonably be expected to know) which may affect the insurer’s decision to provide insurance to you and on what terms, this may be treated as a failure on your part to disclose information that you must tell us.

If you don't tell us something

In exercising the following rights, the insurer may consider whether different types of cover can constitute separate contracts of life insurance. If they do, the insurer may apply the following rights separately to each type of cover.

If in entering into the insurance contract you don't tell us anything you're required to, and the insurer wouldn't have provided the insurance if you had told us, the insurer may avoid the contract within three years of entering into it.

If the insurer chooses not to avoid the contract, it may, at any time, reduce the amount of insurance provided. This would be worked out using a formula that takes into account the premium that would have been payable if you had told us everything you should have.

Feedback and complaintsWe hope that you’ll never have a reason to complain. However, if you do, refer to our Complaints handling policy at tasplan.com.au/complaints-handling-policy for more information or call us on 1800 005 166 and we’ll send you a copy.

http://tasplan.com.au/insurance

http://tasplan.com.au/complaints-handling-policy


9. Insurance terms explainedKey definitionsThis section contains definitions for some of the terms used throughout this Insurance guide and contained in the Insurance policies. Any words shown in navy in the definitions provided are also defined in these tables. Contact Tasplan if you need more information.

Active employment You:• are employed to carry out identifiable duties and not absent from work or on leave, due to

illness or injury• in our insurer's opinion, aren't restricted by injury or illness from being capable of working and

performing those duties for 35 hours each week (even if you're not actually working 35 hours each week) and

• aren't entitled to or receiving income support benefits of any kind.

A person who’s employed to carry out identifiable duties but isn’t actively performing those duties at the time cover commences, recommences or increases will be in active employment if, in our insurer's opinion, the person isn’t restricted by illness or injury from carrying out those duties for 35 hours each week (even if they aren’t actually working 35 hours each week).

Total and permanent disablement (TPD)/ totally and permanently disabled

You, while covered for total and permanent disablement: • are, at the date of disablement, aged under 65 and in gainful employment (or have been in

gainful employment in the previous six months) and meet Part A, Part B or Part C or• otherwise meets Part B or Part C.

Parts A, B and C are defined as follows:

Part A – unable to work

Means our insurer determines that solely due to the same illness or injury you:

1. have been continuously unable to work (whether or not for reward) for the TPD waiting period until the assessment date

2. are under regular and ongoing care and

3. are, at the end of the TPD waiting period, unable to ever engage in any occupation or work for which you are or may become reasonably suited by education, training or experience. Our insurer will consider the possible effect that any reasonable retraining could have on you when they make the determination according to this paragraph 3.

Part B – specific loss or activities of daily work


1. have, at the date of disablement, either:

i. suffered a specific loss or

ii. become permanently unable to perform at least two of the activities of daily work:• without the assistance of another adult person and• with or without the use of suitable aids or equipment and


3. are as at the assessment date unable to ever engage in any occupation or work, whether or not for reward, for which you are or may become reasonably suited by education, training or experience. Our insurer will consider the possible effect that any reasonable retraining could have on you when they make the determination according to this paragraph 3.

Part C – domestic duties


1. have been continuously unable to perform domestic duties for the waiting period until the assessment date


3. are as at the assessment date unable ever again to perform domestic duties nor any occupation or work, whether or not for reward, for which you are or may become reasonably suited by education, training or experience. Our insurer will consider the possible effect that any reasonable retraining could have on you when they make the determination according to this paragraph 3.

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Activities of daily work Bending:

The ability to bend, kneel or squat to pick something up from the floor and straighten up again; and the ability to get into and out of a standard sedan car.

Communicating:

The ability to: • clearly hear with or without a hearing aid or alternative aid if required and• comprehend and express oneself by spoken or written language with clarity.

Vision (reading):

The ability to read, with visual aids, to the extent that an ophthalmologist can certify that:• visual acuity is equal to, or better than, 6/48 in both eyes or• constriction is within or greater than 20 degrees of fixation in the eye with the better vision.

Walking:

The ability to walk more than 200 metres on a level surface without stopping due to breathlessness, angina or severe pain elsewhere in the body.

Lifting:

The ability to lift from the ground an object weighing five kilograms, carry it a distance of 10 metres, and place the item down at bench height.

Manual dexterity:

The ability, with reasonable precision and success, to:• use at least one hand, its thumb and fingers, to manipulate small objects or• use a keyboard if you were required to use a keyboard in your previous job.

Date of disablement For Part A of the total and permanent disability definition, the later of:• the date when a medical practitioner examines you and certifies in writing that you're

disabled from work due to the illness or injury which is the principle cause of the TPD for which the claim is made

• the date you cease all work (whether or not for reward) due to illness or injury and• the date you permanently cease to be able to perform your usual occupation if you had ceased all

work as a result of illness or injury.

For Part B of the total and permanent disability definition, the later of:• the date when a medical practitioner examines you and certifies in writing that you're

disabled from work due to the illness or injury which is the principle cause of the TPD for which the claim is made and

• the earliest date you, as a result of illness or injury: ‑ permanently ceases to be able to perform at least two activities of daily work or ‑ suffers a specific loss.

For Part C of the total and permanent disability definition, the later of:• the date when a medical practitioner examines you and certifies in writing that you're

disabled from work and from performing domestic duties due to the illness or injury which is the principle cause of the TPD for which the claim is made and

• the date you, as a result of illness or injury permanently cease to be able to perform your domestic duties full‑time.

Degenerative condition Means any of the following conditions:• Parkinson’s disease• dementia• arthritis – all forms including osteoarthritis, gout etc• osteoporosis • motor neurone disease• multiple sclerosis• muscular dystrophy.

Domestic duties The tasks performed by a person whose sole and only occupation is to maintain their family home. These tasks must include unassisted cleaning of the home, cooking of meals for their family, doing their family’s laundry, shopping for their family’s food and taking care of dependent children (where applicable). Domestic duties doesn't include duties performed outside the person’s home for salary, reward or profit.


Medical practitioner A person, accepted by our insurer, who's registered and practicing as a medical practitioner in Australia other than:• you or• your spouse or partner, parent, child, sibling or business partner.

Our insurer may accept a similarly qualified person who's registered and practising as a medical practitioner in another country, on the basis their credentials are recognised by the Australian Medical Board.

Reasonable retraining Any further education, training, experience, which in our insurer's opinion based on medical and other evidence satisfactory to us that: • you've reasonable capacity to undertake and• may render you reasonably suited to engage in or work (whether or not for reward) in an

occupation which is related to the skills and knowledge you'll acquire by education, training and experience.

Regular and ongoing care You:• sought advice, care and associated treatment that was reasonably necessary and appropriate,

from an appropriate medical practitioner or consultant medical practitioner who's a specialist practising in an area related to the illness or injury suffered by you who: ‑ personally assessed you ‑ has been provided with full clinical details in relation to the illness or injury and ‑ continues to be provided with details at such intervals as are reasonable in the

circumstances• are following the advice, care and associated treatment of that medical practitioner and• have taken all other reasonable measures to minimise or avoid further deterioration of the

original illness or injury.

Specific loss The total and permanent loss of the use of:• two limbs (where limb means a whole hand or whole foot)• sight in both eyes or• one limb and sight in one eye.

Terminal illness/terminally ill • two medical practitioners each certify in writing you have an illness or injury that, despite reasonable medical treatment in your circumstances, is likely to result in your death within a period (the certification period) that ends not more than 24 months after the date of the certification

• at least one of the medical practitioners is a specialist practising in an area related to the illness or injury suffered by you

• based on such medical or other evidence our insurer reasonably requires to be provided, they're satisfied: ‑ with the prognosis reached in each of the certifications and ‑ that each prognosis was first made while you were an insured member and

• for each of the certificates, the certification period hasn't ended.

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TPD waiting period Three consecutive months from the date of disablement except in the instance where the sole cause of your TPD is:• cardiomyopathy • primary pulmonary hypertension• major head trauma • motor neurone disease • multiple sclerosis • muscular dystrophy • paraplegia • quadriplegia • hemiplegia • diplegia • tetraplegia • dementia • Alzheimer’s disease • Parkinson’s disease • blindness • loss of speech • loss of hearing • chronic lung disease or • severe rheumatoid arthritis

in which case it's nil days.


Income protection cover definitions

Current income The monthly amount earned by you as a result of your own personal exertion (other than benefits received under this policy) from the same components of remuneration as described in the income definition during any period our insurer is paying Tasplan or Tasplan's entitled to a benefit for you under this policy.

Date of disablement The later of:• the first date you're unable to work due to illness or injury and• the date a medical practitioner examines you and certifies in writing that you're totally disabled.

Income If you're not self-employed:

The average monthly earnings received from your employer(s) for personal exertion in the previous 12‑month period including:• salary sacrifice amounts and• where this amount includes commissions or bonuses, the average commissions and bonuses

received by you in a month, calculated over the previous three years

PROVIDED THAT:• if you weren't employed on the date 12 months prior to the date your income is calculated,

your average monthly earnings will be calculated over the period commencing from the date you were first employed within the previous 12 months (subject to a minimum of six months if you're not in permanent employment) and

• if you're in permanent employment and your employer has increased your salary in the last 12 months, your average monthly earnings will be calculated over the period since that increase

• if you're on parental leave, your average monthly earnings will be calculated over the period commencing 12 months immediately before you commenced that period of parental leave.

Income excludes mandated super contributions, profit distributions, director’s fees and any component that's paid to cover expenses that are only incurred whilst you're working (such as allowances).

If you're self-employed or own part or all of the business providing your income:

The average monthly share of earnings (being gross revenue generated by the business as a result of your personal exertion less business expenses) received by you in a month, calculated over the previous 12 months.

Income excludes investment income, mandated super contributions and any component of your income that doesn't cease upon you ceasing work.

Monthly benefit Where you had default cover immediately before the date of disablement:

The lesser of:• the amount of default cover last calculated by Tasplan at your last review date• $30,000 each month (unless otherwise agreed by our insurer) and• Either:

‑ 85% of your pre-disability income, where you're aged 55 or under or ‑ 60% of your pre-disability income, where you're aged 56 to 59.

Where you had fixed cover immediately before the date of disablement:

The lesser of:• the amount your fixed cover• $30,000 each month (unless otherwise agreed by us) and• 85% of your pre-disability income.

Occupational rehabilitation Rehabilitation for the purpose of returning you to duties of employment. Occupational rehabilitation includes initial rehabilitation assessment, psychological assessment, functional assessment, workplace assessment, vocational assessment and vocational retraining. Any occupational rehabilitation must be as part of a return to work program approved by our insurer.

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Other disability income Includes any of the following benefits or entitlements which were paid or are required to be paid to you during the month or which, though not actually paid, our insurer reasonably apportions to you for the month in question:• the amount of any income (other than benefits from your income protection cover) or

commutation of income paid or payable to you as a result of your illness or injury, including: ‑ sick leave payments (actually paid) ‑ income under legislation such as workers compensation ‑ any disability, injury or illness policy (other than lump sum total and permanent

disablement or lump sum super payment)• income from personal exertion while disabled other than income from your employer• any amounts payable for loss of earnings or loss of earning capacity as a result of personal

injury (for example, an award of damages or a settlement of a claim for damages under common law)

• in relation to the super contribution benefit, any benefits payable from other income protection policies which wholly or partially replaces mandated employer contributions.

Any amount which is in the form of a lump sum or is exchanged for a lump sum, has a monthly income equivalent of 1/60th of the lump sum over a period of 60 months.

Partially disabled/partial disability

You're partially disabled if you're not totally disabled but, because of illness or injury, you: • have been totally disabled for at least 14 days• are unable to work in your own occupation at full capacity because of the illness or injury that

caused your total disability• are working in your own occupation in a reduced capacity or working in another occupation • earn a monthly income that's less than your pre-disability income and • are under the regular care of, and following the advice of, a medical practitioner.

Permanent employment/permanently employed

Being employed by an employer under a contract of employment that:• is of indefinite duration or is for a fixed term of no less than 12 months• requires you to perform identifiable duties and• provides for paid annual leave, sick leave and long service leave.

Pre-disability income The monthly income you earned immediately before the date of disablement.

Totally disabled/total disability

You're totally disabled if, because of illness or injury, you've ceased to be gainfully employed and you're: • unable to perform at least one important duty of your own occupation• under the regular care of, and following the advice of, a medical practitioner and • not working in any occupation, whether or not for reward.


Notes and calculations

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Notes and calculations

The trustee of Tasplan Super (ABN 14 602 032 302) is Tasplan Pty Ltd (ABN 13 009 563 062). AFSL 235391. © 2020 Tasplan Pty Ltd. All rights reserved.

FS‑INS01 09/2020

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