08.Insurance
If you join an industry fund or a fund via your employer, you often get a great price on insurance and you usually don’t have to take a medical to get basic cover. The cover you receive under this arrangement is basically a package deal for all members. If you join a super fund as an individual you may not be able to access such competitive wholesale rates for insurance. You may even be rejected for insurance cover if you have a pre-existing health condition.
The table below shows the super funds with the best value wholesale insurance deals. It shows how much death only cover you'll receive for each $1 of premium you pay per week.
| Super funds with the best
value wholesale insurance deals* |
| Death only insurance |
Cover ($) (a) |
| Queensland Independent Education and Care
Superannuation Trust |
116667 |
| TASPLAN |
93750 |
| Non-Government Schools Superannuation
Fund |
91250 |
| CUE (Credit Union Employees) Super
Plan |
83871 |
| Catholic Superannuation and Retirement
Fund |
77414 |
| Law Employees Superannuation Fund |
77345 |
| Finsuper |
76667 |
| Mercer Super Trust (Corporate Super
Division) |
73239 |
| Superannuation Trust of Australia |
71512 |
| CARE Super |
70680 |
| |
|
Table notes
* Insurance deals for a 45-year-old from a low occupational risk group, eg managerial.
(a) This is the amount of cover you can purchase for each $1 of premium you pay per week.