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A reliable safety net for you and your family.
Because we all need a Plan B.
Automatic cover is available to eligible smartMonday members. It’s ‘automatic’ for two reasons – you don’t have to apply for it (but you do have to opt-in for it if you're a personal member) and you don’t have to provide additional information about your health. Login to see what cover you have. Not a member? See the relevant smartMonday PRIME Product Disclosure Statement to find out more about how automatic cover works and the important eligibility criteria. See below for more info on our cover options available to you.
A Death insurance benefit is paid if you die or become terminally ill. Total and Permanent Disablement Cover (TPD) is paid if you suffer an injury or illness that prevents you from ever being able to work again.
If an injury or illness temporarily prevents you from working, this cover provides you with monthly income to help you get by – while you focus on recovery and returning to work.
Talk to a smartCoach today on 1300 262 241, or email smartcoach@smartmonday.com.au.
It’s important to review your insurance when you join smartMonday. If you have cover with smartMonday, you can tailor your cover to fit your individual needs – and then review it again every few years or whenever an event that might affect the level of cover you need occurs (e.g. getting married or divorced, getting a promotion, having children or buying your first home).
With smartMonday you can top up or change your cover at any time – but please note, some changes may require underwriting (evidence of your current health status).
Login for more details about your insurance:
If you were to die who would receive your death benefit (your superannuation balance and any Death insurance benefit)? If you haven’t nominated beneficiaries it could cause a great deal of stress for your family. It could also delay payment while the Trustee sorts it out. That’s why it’s important to consider nominating your beneficiaries.
There are two types of death benefit nomination options available to all smartMonday members:
This nomination is legally binding on the Trustee and stipulates to whom to pay your death benefit. It is valid for 3 years but can be changed and renewed any time within that period.
The Trustee will use this nomination as a guide to your wishes about to whom to pay your death benefit. It is not legally binding on the Trustee but it’s a handy option if you want to get something in place quickly while you consider a more permanent option.
The cost of your insurance cover depends on a number of factors including the amount and type of cover you choose, your age, your gender your ‘occupation rating’, and any additional loadings the insurer may apply if they consider you to be of higher risk.
What’s occupation got to do with it? Some occupations are deemed by our insurer as riskier than others, and this affects the cost of your insurance cover. If you or your employer don’t provide us with your occupation at the time of joining the fund, you could pay more for insurance cover than you need to. Call us to check the occupation rating applied to your insurance – and make sure it’s up to date.
Insurance costs are deducted monthly from your super balance, not from your take-home pay. It’s generally a tax effective and easy way to pay for insurance cover.
As we are able to leverage our ‘group’ buying power, the insurance premiums inside super are typically lower than you would pay on an individual policy outside of super.
For an insurance fee quote, contact a smartCoach today on 1300 262 241, or email smartcoach@smartmonday.com.au.
