The information provided below is a summary only. You should refer to the PDS for more information regarding eligibility and terms and conditions that apply to the insurance benefits provided through the Fund. Your benefit will be reduced by any amount of insurance that the Trustee is unable to arrange or claim.
Your basic level of insurance
If you are a permanent employee of Dow, and you meet the eligibility criteria as detailed in the PDS, you are provided with death and total and permanent disablement insurance through the Fund. If you choose to have your Superannuation Guarantee (SG) contributions paid to another fund under the Choice of Fund legislation, you will become an Insurance only member of the Fund and the Company will pay for basic death and disablement cover for you.
This Basic insurance is added to the sum of your super accounts when a Death or TPD benefit is paid. It is calculated as:
|15%||X||Future period to age 65||X||salary|
*Please note - your death and TPD benefits will be reduced by any amounts of insurance that the Trustee is unable to arrange or claim.
If you work 15 or more hours a week, on average, the standard disablement definition applies and if you work less than 15 hours a week on average, the "Alternative" disablement definition will apply to you. The disablement definitions are in the Insurance Guide.
Retained Benefit Members
Retained Benefit members do not have insurance in the Fund.
If you are a Spouse member you can apply for voluntary insurance cover for death and terminal illness. The insurance cover is purchased in units. The amount of insurance you can purchase depends on your age and the number of units of cover you would like to purchase.
Refer to the Spouse Super Guide for more information.
The fee for each unit of cover is deducted from your Spouse Account each month.