Death and total and permanent disablement (TPD) cover provides a payment if you die, become terminally ill or if you’re unable to work again due to illness or injury.
We negotiate with our insurer for discounted group rates which means that you generally pay less than you would if you personally applied for cover. And the cost of cover is paid out of your Tasplan account rather than from your pocket, so it doesn’t affect your take-home pay.
|Type of cover||Benefit|
Death cover provides your dependants, nominated beneficiaries or your estate with a benefit if you die.
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.
Total and permanent disablement (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.
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 be assessed under more restrictive parts of the TPD definition.
However, if you're under age 65 and became unemployed due to COVID-19 since 11 March 2020, your claim may be assessed using the applicable TPD definition based on your working arrangements as at 11 March 2020. Your claim must be lodged before 1 January 2021. Conditions apply (see What if I become unemployed due to COVID-19 and then lodge a TPD claim? below).
Also see the Insurance guide for more information on the TPD definition and how a TPD claim is assessed.
There are a number of ways to get cover with Tasplan:
|How to get cover||When you get cover|
|Default cover||Automatically provided after certain conditions are met. The level of cover and cost will depend on your age, occupation and employer.|
|Opt in early for default cover||An option to take up default cover when you first join Tasplan before you meet all the conditions.|
|Fixed cover||You can apply for this at any time, but your application will need to be accepted by the insurer.|
|Transferring cover||Transfer your cover and account from another super fund.|
|Life events||You can apply for additional death and TPD cover if you experience a specific life event.|
Conditions apply. For more information on eligibility requirements, see our Insurance guide.
If you’re a member of Tasplan, log in to Tasplan Online to check your current insurance arrangements.
Tasplan Online has everything you need to manage your insurance. You can:
If you’re still not sure, you may want to get advice specific to your personal circumstances.
See our Insurance guide for information on claims for TPD and terminal illness.
You can cancel or reduce your death and TPD cover at any time: