Insurance plays an important role in protecting your members and their dependents.

Life Insurance

Your Fund can hold life insurance for you. On your death, the net proceeds of any life policies will form part of the assets to be distributed to your beneficiaries.


Total and Permanent Disablement (TPD) Insurance

Your Fund can hold TPD insurance for you; however, most insurers only offer TPD in conjunction with life insurance. If you become permanently incapacitated any TPD benefit paid under the terms of such a policy will form part of your assets in the Fund.

You should note that in order for a TPD benefit to be paid from the Fund a condition of release must have been met. It is important to seek advice on conditions of release.


Salary Continuance Insurance

Your Fund is able to hold Salary Continuance Insurance for you. If you can’t work due to illness or injury you may be eligible to receive a partial replacement of your income, depending on the terms of the insurance policy you take out.


Arranging Insurance Policies

All policies must be held in the Trustee’s name. You will need to arrange for a suitable policy yourself, which may require insurance underwriting. Your financial adviser will be able to assist you.

Please contact your financial adviser prior to completing any insurance applications to ensure the policy can be held by your Fund.

Please also contact your adviser when the policy has been issued to provide them with a copy of the policy schedule and to make premium payment arrangements.