Death and Total and Permanent Disablement (TPD) Cover
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This page explains how insurance works for Accumulation members who are employed by a Company which contributes to the Fund. Defined Benefit members should see their member booklet for information about their insurance in the Fund.

Retained Benefit members may also have insurance cover under the Fund. Please refer to your latest Annual Benefit Statement from the Fund for details of your cover.

Insurance Cover

As an Accumulation member of the Fund, you receive insured benefits in addition to the balance of your superannuation account if you die or become totally or permanently disabled. Your insurance cover is the package of insured benefits offered by the Fund's insurer.

Please note that if you are employed by IPL on a casual basis, your cover is only for life insurance. Please refer to your Product disclosure Statement for details relating to your life insurance cover.

As an Accumulation member, you must select from the four levels of cover - 5%, 10%, 15% or 20%. The amount of cover is calculated as:

Your chosen percentage x your years to age 65 x your super salary

Your insured benefit is based on your super salary at the time of your death or permanent disablement. Your years to age 65 are calculated in years and complete months.

If you do not choose a level of cover, you will receive the default rate of 15%.

The fees for insurance cover are deducted from your superannuation account and depend on your age and amount of cover and therefore change each year. To see how insurance fees are calculated please download the PDS from the link below.

the IPE Super's Insurance Guide for new employees, Retained and Spouse members