Having insurance through your super can be a great idea because premiums are often much lower, you’re normally accepted without filling in forms and premiums are automatically deducted from your super account. Simple.

Types of insurance cover

Death and Terminal Illness (Death)


Pays a benefit to your beneficiaries if you die.

 

 


Learn more

Total & Permanent Disablement (TPD)


Pays you a benefit if you become seriously ill or injured and are unlikely to ever work again.

 


Learn more

Income Protection


Pays you an income if you are unable to work due to an illness or disability

 

 

 


Learn more

Just like that, it's automatic

Did you know that most people automatically receive Death & TPD insurance as part of their super?  That’s because the government thinks it’s so important they’ve made it compulsory with “MySuper” products (a minimum level of insurance cover as part of your super along with a few other legislative requirements).

We think insurance is important too, but it has to match your needs. So we’ve designed our insurance offering to change as your circumstances do, trying to balance what members need with what they can afford at different times. We have two automatic levels of cover that change as you move through different stages of your life.

We're changing things up!

From 1 March 2017, we’ll be referring to insurance cover a little differently. We like to think it's a little friendlier.

If you joined us before 1 March 2017 you may have received our ‘Default Cover’, which was six units of Death and six units of TPD cover. From 1 March 2017, you'll still maintain your level of cover but we'll refer to this as our "Booster Pack" insurance cover.

For more information about some of the other changes we've made to try and better personalise insurance cover to suit our member’s needs, keep reading below.

STARTER PACK

When you join you’ll receive our Starter Pack* which offers the minimum cover required by law:

1 unit of TPD cover & between 1 and 6 units of Death cover, dependent upon your age.

Check out our competitive premiums.

 

BOOSTER PACK

Once your balance grows to a point where insurance is more affordable ($3,000 or more), we’ll automatically upgrade you to our Booster Pack: six units of Death and six units of TPD cover

No forms. No questions. Nice and simple.

Check out our competitive premiums.

* Applies to members who join us through their employer or who choose Kinetic Super through their employer (Employer Sponsored). As with all insurance, there are some requirements around who is eligible for Starter pack cover. See the Insurance Incorporated Information for details.

Income protection cover

Income Protection insurance provides a regular income if you become seriously ill or injured and can’t work. You’ll receive a monthly payment to help support you and your family.  This can cover you for up to 85% of your earnings prior to becoming ill or injured, of which 75% is payable directly to you and up to 10% is paid as a super contribution to Kinetic Super.

 

 

Waiting periods

Income Protection cover has a waiting period that determines how long you need to wait, from when you stop working, before a benefit will be paid to you. There are three waiting periods available: 30, 60 or 90 days.

Benefit Payment Periods

The benefit period is the length of time that you will receive payments if you are injured or disabled. You can choose a benefit period of 2 years, 5 years or to age 65.  The longer the benefit payment period, the higher your insurance premium.

 

Check out our Income Protection cover and competitive premiums.

Your occupation matters

The amount you pay for your insurance cover is based on the type of work you do, because there are different risks involved. So it’s really important that you select the “Occupational Category” that best describes your work – it could save you a lot in premiums.

We use two Occupational Categories when referring to insurance: 

Standard

If your work includes some degree of manual labour, usually outside an office environment, this is probably the best cover for you. You’ll automatically be placed in the ‘Standard’ option if you don’t tell us what sort of work you do.

White Collar

If you work in an office environment, and your duties are generally professional, managerial, clerical, secretarial or other tasks that don’t involve manual labour, ‘White Collar’ is probably the best category for you.

Don’t forget, your “Occupational Category” can have a big impact on how much you pay in premiums, so jump online at Member Online Services to check it’s right, or call us on 1300 304 000.

Premiums

This is the amount you’ll pay for your insurance cover. Your premiums are calculated based on your occupational category and your age next birthday. Your premiums are deducted from your super balance.

See the Starter Pack insurance premiums.

See the Booster Pack insurance premiums.

See the Personalise your cover insurance premiums for one unit of cover.

See the Income Protection cover insurance premiums.

Insurance designed for you

We all have unique needs, and that applies to our insurance too. So if you feel you need more or less insurance cover, or perhaps none at all, you can personalise your cover to suit you. Make changes at any time through Member Online Services.

 

Increase your cover

Increase the amount you’re insured for by applying for extra units of cover. You may need to provide health evidence depending on your circumstances.

To work out the amount of units of cover that’s right for you and premiums see our Death & TPD table.

Recently joined us? You may be eligible to take up our New Member Insurance Offer.

 

Apply for cover

If you aren’t eligible for insurance cover automatically when you join (you’re self-employed, not working or didn’t start your account through an employer) or your previous cover was cancelled (by you or the fund), you can still apply for Death, TPD and/or Income Protection cover.

Log in to your Member Online Services, select ‘Insurance details” and hit the link to apply. You may need to provide health evidence depending on your circumstances.

There are maximum limits to the cover you can receive. These are listed below.

Type of cover Maximum Cover
Death Up to $5mil
TPD Up to $3mil
Income Protection Up to $25,000 per month
($300,000 per annum)

Decrease your cover

Log in to your Member Online Services, select ‘Insurance details” and hit the link to apply.

Cancel your cover

Complete the Insurance Cancellation form and send it back to us.

 

Automatic, just like that

We’ve structured our insurance to suit our members. So we offer different levels of cover based on your circumstances and we automatically upgrade or switch off your insurance when you reach certain triggers:

 

Automatic upgrades

When your account reaches $3,000 or more, we’ll automatically upgrade your ‘Starter Pack’ cover to our Booster Pack cover of 6 units of Death and 6 units of TPD cover. No forms, no questions.

Automatic switch off

When account balance falls below $6,000 and you’ve received no contributions from your employer in 10 months or more, we’ll switch off your insurance cover, unless you take action to keep it. That’s because your super savings are at risk of eroding to zero if you continue to pay premiums. We don’t think that’s a good outcome for our members, so we’ll switch your insurance off.

 

Transfer your insurance cover to Kinetic Super

Do you have more than one super account? Want to transfer your cover to us so you’re not paying double the amount of premiums, therefore you’ll have all your insurance cover in the one place? Apply to transfer your existing insurance to Kinetic Super.

You can do this if:

  • You’re a new or an existing member.
  • You have insurance through an employer-sponsored super account, or an individual insurance policy from a life insurer.
  • You must transfer your total account balance and cancel insurance cover with the other fund or individual policy linked to super, once you’ve received confirmation from us of your successful insurance transfer. It’s recommended that you check with your existing super fund whether there are any loss of benefits, or fees or costs that may arise and wait until your new insurance is active before cancelling any existing policies.

 

To apply, complete the Insurance transfer form.

Insurance Offers

New member special offer

We have a special offer for new members that’s valid for 120 days after the date of your Welcome mail.

Members who automatically receive our Starter Pack insurance cover may apply to:

  • upgrade cover to our Booster Pack (six units of Death and six units of TPD cover) without providing health evidence; or
  • upgrade cover up to 12 units of Death and 12 units of TPD cover, subject to completing a quick questionnaire; and
  • apply for Income Protection cover (with a two-year benefit period and a 90-day waiting period) without providing health evidence
    • up to $60,000 p.a. if you’re in a ‘White Collar’ occupation
    • up to $36,000 p.a. if you’re in a ‘Standard’ occupation

 

Please check the Insurance Incorporated Information for more details on cover amounts, costs and other important terms and conditions.

To take up this special offer, complete the New Member Insurance Offer form or log in to your online account, Member Online Services, select ‘Insurance details” and hit the link to apply.

Maintain your existing cover

After a certain age, your level of cover starts to decrease. You can however apply to purchase extra cover to maintain an equivalent level of cover. See the Death & TPD table for details on the cover and premiums.

This is only available to members who’ve previously been fully underwritten or transferred their insurance cover from another super fund.

To apply, complete the Maintain existing cover form.

Life events cover

Your circumstances change, and your insurance needs can change with them. To make sure your cover stays right for you, you can apply to increase your Death and/or TPD insurance cover within 120 days of a life event:

  • Your child being born or you adopt.
  • Your spouse dies.
  • You get married or divorced.
  • Your child starts primary or secondary school.
  • You take out your first mortgage on your home.

 

To apply, complete the Life Events Cover form.

 

When cover stops

You have the option to cancel (stop) your cover at any time. Just complete the Insurance Cancellation form and send it back to us. In some circumstances, your cover will be cancelled automatically, when:

  • A death or TPD benefit gets paid on your behalf
  • You reach age 70
  • You leave the fund
  • You join the armed forces (does not include the Australian Armed Forces Reserve)
  • You have insufficient funds to pay your insurance premiums
  • The insurance policy is terminated
  • If you’re an Employer Sponsored member and your account balance is below $6,000 and we haven’t received a contribution via an employer for 10 months or more. Learn more

For further details, see the Insurance Incorporated Information.

 

How to avoid having your cover switch off

To protect your savings and reduce the risk of your account balance being eroded if you continue to pay insurance premiums, we’ll be switching off your insurance cover if your Kinetic Super account balance is below $6,000 and we haven’t received contributions through your employer in 10 months or more.

Don’t stress, we’ll let you know if you’re at risk of having you insurance cover switched off and what you need to do to keep it. You can keep your cover by doing one of the following:

Get your employer to make a contribution on your behalf.

We need to receive a super contribution into your account via your employer. This can be an employer contribution (Superannuation Guarantee or salary sacrifice) or a member contribution deducted from your pay. It doesn’t matter what type of contribution or how much, but it must be received via your employer.

Increasing your account balance to $6,000 or more.

Make any type of contribution to your account, including rolling money in from another super fund, to take your balance to $6,000 or more. Call 1300 304 000 and give us your consent to search and consolidate your other super into your Kinetic Super account. When transferring money from another fund into your Kinetic Super account, consider any fees or costs you might incur, or benefits with your other fund you might lose.

Letting us know you’re on maternity or extended leave.

Ask your employer to provide us with a letter on company letterhead or an email from the corporate email account confirming the date your leave commenced and your expected return to work date. The maximum extended leave permitted is 24 months. If you provide suitable documentation, your insurance cover will not be switched off whilst you are on extended leave.

 

Make the most of your membership with Kinetic Super

Insuring through your super is often cheaper than buying it directly yourself and even better the premiums are automatically deducted from your super account balance and not from your wallet!

In just a few simple steps, get yourself covered!

  1. Register or log in to Member Online Services
  2. Tell us what type of work you do
  3. Check to see if you have Starter Pack cover
  4. Upgrade your cover or apply for cover that suits you and your needs
  5. Make sure you tell us who you want to leave your benefit when you die

Who gets your Super when you die

This is one thing you won’t want to leave to chance – make sure you decide who gets your super (and any Death insurance cover you may have) when you die.

The Nominating your Beneficiary(ies) factsheet details who you can nominate, how to nominate and how to make it binding.