The information contained in this section of the website is provided in good faith as general educational material only and, where applicable, is based on stated assumptions. Any information provided or derived from examples or calculators should not be relied on as a true representation of any actual superannuation entitlements or benefits from any particular fund or scheme.

The information and material on this website is to assist you to gain a broad understanding of superannuation and other general financial matters, is provided for general information only, and has been prepared without taking into account your particular financial needs, circumstances and objectives.  You should not rely on any information or material on this website, and before making any investment decision we recommend that you consider whether it is appropriate to your situation and seek appropriate financial, taxation and legal advice.

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GuildSuper insures your most
important asset - YOU!

While thinking about insurance is never a pleasant subject, it's comforting to know that should you become seriously ill, GuildSuper can be there to help you get on the road to recovery.

When you join GuildSuper, provided you meet a few simple eligibility criteria, you automatically receive a set amount of Death and Total and Permanent Disablement (TPD) and Income Protection insurance cover. The amount you receive varies depending on your age.

What type of insurance does GuildSuper provide?

On joining GuildSuper, eligible members receive:

  • Two units of Death and Total & Permanent Disablement (TPD) cover and two units of Income Protection cover for $3 per week. See the insurance section of the Product Disclosure Statement for eligibility criteria.

If, like many people you need more than the cover automatically provided by GuildSuper, you can apply to take out extra cover.

With GuildSuper, you also have access to:

  • Additional Death Only cover at units of $1 per week
  • Additional Death and TPD cover at units of $1 per week.
  • Additional Income Protection insurance, and
  • Long-term Income Protection.

Note: Additional insurance is subject to meeting underwriting requirements. Insurance cover is issued by AIA.

This information is intended as a summary only. You should refer to the Product Disclosure Statement for a full description. 

 

Why take out insurance through GuildSuper?

A tax advantage

Purchasing insurance through super to top up your cover can have substantial tax advantages. This is because the premiums are paid for from money paid into your account, which is taxed at super's low rate of 15%. This could mean someone in the 40% marginal tax bracket, paying a yearly premium of $500 would need to earn around $833 before tax to meet this expense. However, the same premium paid through a super account would cost $588 before tax, a tax saving of $245 per annum.

No need to remember to make a payment - set and forget

The costs of your cover is automatically taken from your GuildSuper account so you don't have to worry about making monthly payments. In the event your account does not have sufficient funds, your cover will lapse subject to a 60 day grace period. We will contact you within this period to ensure you have the opportunity to top up your account so that your cover will continue.

 

How to apply for Additional cover through GuildSuper

You can apply for up to $3 million in Additional Death Only or Death and TPD cover at any time, so long as you are under age 70 for Death Only cover and under age 65 for Death and TPD cover. You can also apply for Additional Income Protection cover. Applying for Additional cover involves completing the Additional Insurance Application which will involve answering some questions about your health. Click here to download the form now.

 

There are some differences between insurance cover held inside and outside of super that you may need to weigh up. For this reason, it is often good to seek professional financial advice before making any decisions.