Insurance Arrangement Changes

Summary of Insurance options

Features of the new insurance arrangements with Catholic Super:-

• Members transferring to Catholic Super are automatically provided with 2 units of Death and Total and Permanent Disability as well as 5 units of Income Protection.
  If you provide your level of salary you will be eligible to receive up to 85% of salary (this is up to 17 units of cover) without having to provide health evidence.
• You will also be able to select one of the following Income Protection package options:-
  Option 1 - 60 day waiting period, 5 year benefit payment period (Basic Cover)
  Option 2 - 60 day waiting period, up to age 65 benefit payment period
  Option 3 - 30 day waiting period, 5 year benefit payment period
  Option 4 - 30 day waiting period, up to age 65 benefit payment period
• Upgrade of cover from death only to Death/TPD (where applicable)
• Introduction of a Terminal Illness benefit
• Increased cap of $2.5m for TPD
• Improved definition of TPD (whole person impairment)
• ‘Limited cover’ when member is not ‘at work’