Death & Total and Permanent Disability
Death cover can provide a lump sum benefit that will be paid to your nominated dependants or your estate in the event of your death.
Total and Permanent Disability (TPD) cover can provide a lump sum in the event you are unable to return to work due to accident or illness.
Employees of an employer registered with Tasplan have access to cover up to the Automatic Acceptance Level without providing health evidence. For any amounts in excess of the Automatic Acceptance Level the member must apply to the insurer and provide health evidence.
Public Offer members must apply for all cover and provide health evidence as directed by the insurer.
The Automatic Acceptance Level is broken down into two components.
AAL Basic cover is allocated automatically to members on joining the fund. The level of cover provided is detailed in the table below and you will note the amount you receive depends on your age and as you get older the level of cover decreases.
| Age Next B’day |
Basic Cover Death Only Death & TPD |
Age Next B’day |
Basic Cover Death Only Death & TPD |
| 16 - 47 | $100,800 | 59 | $16,832 |
| 48 | $84,158 | 60 | $13,861 |
| 49 | $76,238 | 61 | $11,881 |
| 50 | $68,317 | 62 | $9,901 |
| 51 | $60,396 | 63 | $7,723 |
| 52 | $52,475 | 64 | $6,139 |
| 53 | $44,554 | 65 | $5,000 |
| 54 | $36,634 | 66* | $5,000 |
| 55 | $28,713 | 67* | $5,000 |
| 56 | $25,743 | 68* | $5,000 |
| 57 | $22,772 | 69* | $5,000 |
| 58 | $19,802 | 70* | $5,000 |
* Death Only cover applies after you turn age 65.
| Cost of Basic Cover | ||
| Death Only | Death & TPD | |
| Age next birthday 16 – 20 | $0.28 per week | $0.71 per week |
| Age next birthday 21 – 23 | $0.56 per week | $1.42 per week |
| Age next birthday 24+ | $0.84 per week | $2.13 per week |
AAL Additional cover under the automatic acceptance level must be applied for within 90 days of joining Tasplan by ticking the box on the Application Form.
The level of cover you are provided is detailed in the table below and important points you need to know about are as follows:
- The level of cover provided depends on your age and occupation,
- You can select any amount in multiples of $1,000 up to the amount detailed in the table,
- After the initial allocation the level of cover will be fixed until you decide to alter it,
- As the cover remains fixed the premium will increase as you get older.
| Age Next B’day |
Professional Member Death Only or Death & TPD |
White Collar Member Death Only or Death & TPD |
General Member Death Only or Death & TPD |
| 16 - 47 | $182,000 | $172,000 | $91,000 |
| 48 | $152,000 | $144,000 | $76,000 |
| 49 | $138,000 | $130,000 | $69,000 |
| 50 | $123,000 | $117,000 | $62,000 |
| 51 | $109,000 | $103,000 | $55,000 |
| 52 | $95,000 | $90,000 | $48,000 |
| 53 | $81,000 | $76,000 | $41,000 |
| 54 | $66,000 | $63,000 | $33,000 |
| 55 | $52,000 | $49,000 | $26,000 |
| 56 | $47,000 | $44,000 | $24,000 |
| 57 | $41,000 | $39,000 | $21,000 |
| 58 | $36,000 | $34,000 | $18,000 |
| 59 | $31,000 | $29,000 | $16,000 |
| 60 | $25,000 | $24,000 | $13,000 |
| 61 | $22,000 | $21,000 | $11,000 |
| 62 | $18,000 | $17,000 | $7,000 |
| 63 | $14,000 | $14,000 | $7,000 |
| 64 | $12,000 | $11,000 | $6,000 |
| 65-70* | $9,000 | $9,000 | $5,000 |
* Death Only cover applies after you turn age 65.
Additional cover in excess of the Automatic Acceptance Level can be obtained by completing an Application Form and a Short Form Personal Statement in the first instance.
For the premiums in relation to Additional cover please refer to the table below.
Table to be inserted.
For the full conditions that apply to eligibility or application for any Death Only or Death and TPD cover please click on the link to the Tasplan Insurance Booklet or contact Tasplan on 1800 005 166.