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Insurance Inside Super

Your super may already be protecting you with built-in life insurance

What is insurance inside super?
One of the best ways to protect yourself and those you care most about is with life insurance.

A large number of superannuation funds have a built-in life insurance policy that provides this sort of cover and for many Australians, this is an affordable way to manage life insurance.

It is important to regularly check the insurance cover inside your super and make sure it meets your needs.

Insurance inside super is more than just death cover

Default life insurance in superannuation can include: 

Life insurance
Life insurance

Life Insurance

Life Insurance can sometimes be called Death Cover 

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Total and Permanent Disablement Insurance
Total and Permanent Disablement Insurance

Total and Permanent Disablement

Sometimes known as TPD, this insurance is for serious accidents or illness which permanently stop you from working

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Income Protection Insurance
Income Protection Insurance

Income Protection

Income Protection provides a regular payment during prolonged illness

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What are the benefits?
Buy in bulk
Buy in bulk

Super funds purchase life insurance in bulk making insurance generally cheaper for their members 

Tax advantages
Tax advantages

Premiums are paid from your superannuation account which could offer tax advantages

Cash flow
Good for cash flow

Premiums don’t come out of your regular income which can be good for cash flow

Automatic cover
Automatic cover

Many super funds automatically accept you for cover without requiring a health check

Fund support
Fund support

Your super fund manages your claim and supports you through the process

What to consider when reviewing your insurance

We recognise everyone's situation is different and it's important to think about your needs and your family circumstance when reviewing your insurance cover. 

  • How much insurance do you currently have and would it cover your lifestyle if you couldn’t work?
  • How much are you paying for it?
  • What are you covered for?
  • Do you have debts that would need to be covered if you could no longer work?
  • What are your long-term costs associated with living, including medical and children’s education?

How to adjust your insurance cover

1

Check

To review your current insurance, look at your superannuation statement, log in to the secure portal or call them.

2

Choose

Think about what type of insurance you may need to suit your life stage.

3

Calculate

Use the calculator on your super fund’s website to get a guide on how much insurance cover you may need.

4

Adjust

To alter or apply for additional cover, log in to your super fund's secure portal. If not available, head to your super fund's website or contact them direct.

5

Confirm

Once you’ve submitted your application you’ll get confirmation of your cover or an indication of what other steps might be required.

MetLife's Superannuation Partners
Discover what protection you have by selecting your fund below

Insurance news from MetLife

1 July Changes to Insurance Explained
1 July changes to insurance explained
The new Protect Your Super legislation explained: What is it? Who will be affected?
Protect Your Super Legislation
What does Protect Your Super mean for your insurance?
The new Protect Your Super legislation (PYS) will turn off insurance cover for inactive superannuation accounts. MetLife’s Brian Jacobs explains what you need to know and what to do if you’re affected.
MetLife Protect Helping Advisers and their Clients
MetLife Protect helping Advisers and their Clients
Rachel Towell, MetLife Australia’s State Manager for NSW/ACT, explains how MetLife Protect allows advisers to match their clients’ needs and values more closely to their life insurance. 
Life Insurance brick by brick
Life Insurance brick by brick
We recognise that everyone is unique, so their insurance needs to be too. Meet the new modular cover you can tailor to match what truly matters for each and every client. It’s been designed for the way people in Australia live today. 
Modular Insurance up close
Modular Insurance up close
Stuart White, State Manager, Queensland, walks us through the three target customer segments for MetLife Protect and uses case studies to show how the modular product and optional Extras cover work in practice.

How else can we help you?

Need a form? Have a question? Or simply want to find out more about the benefits of MetLife insurance solutions.