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
|Non-Government Schools Superannuation
|CUE (Credit Union Employees) Super
|Catholic Superannuation and Retirement
|Law Employees Superannuation Fund
|Mercer Super Trust (Corporate Super
|Superannuation Trust of Australia
* 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.