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Important information
Insurance
This important information relates to all Mercer Super members who each have different circumstances. If you are in doubt about whether or not a particular provision applies to you, please contact us.
As a member of the {ClientName}, you may be entitled to receive insured benefit payout as part of your super if you die or become disabled. Members aged 25 or over with an account balance of $6,000 or over receive default insurance automatically when they join, which includes pre-approved Death and Total and Permanent Disablement (TPD) Insurance. Your cover and related premium will be based on your age. Your cover will start once your employer makes a contribution to your super account, within 120 days of joining Mercer Super.
If you are under 25 years old, or have a balance under $6,000, and want insurance cover, you may be able to apply by visiting mercersuper.com/getinsurance.
If the Dashboard states "Not Available" in any of the columns, this indicates there is likely a different technical reason currently preventing us from displaying your information here online. Please call the helpline for assistance in this case.
Key Insurance Terms:
Depending on your super account, the following may apply to you. Please read your Product Disclosure Statement (PDS) for more information.
- Death Benefit: when you die, your super, including any insurance benefits, can be paid to your beneficiaries.
- Total and Permanent Disablement Benefit (TPD): If you become totally and permanently disabled, your super and any insurance benefits can be paid to you subject to Superannuation Law
- Income Protection Benefit (IP): If you become totally but temporarily disabled, your IP benefit is paid to you if you meet the insurer conditions for the benefit. If you qualify, the benefit is payable in monthly instalments after the waiting period. Tax will be deducted at marginal rates from the amount shown before you receive your payment.
If you currently have insurance cover, your total benefit, including the insured amount, should be shown on the Dashboard. Note that not all insurance options can be displayed.
If the Dashboard states "not applicable" in any of the columns, this can mean that either your insurance is too complex to be displayed or, you have not elected an option or you do not have insurance. Your insured amount may also be restricted to $0.00 because of this.
Protecting Your Superannuation (PYS) changes means we can no longer provide you with insurance through super if your account has been inactive for 16 consecutive months or more and you haven’t opted-in to keep your insurance with us. Your account is inactive if you have not received any contributions or rollovers for 16 consecutive months.
If you are inactive, we will contact you and provide you details of how to opt-in to keep your cover.
Under the government changes known as Putting Members' Interests First (PMIF), we can no longer provide insurance cover to members who are aged under 25 years old and to members who have an account balance that is less than $6,000. These changes are aimed at helping to ensure you’re not paying for unnecessary insurance cover.
If you are under 25 years old, or have a balance under $6,000 and want insurance cover, you may be able to apply by visiting mercersuper.com/getinsurance.
This legislation is in addition to the PYS legislation introduced by the government on 1 July 2019.
Please refer to your PDS and other member documents available on the Documents & forms page for specific information about your cover and don't hesitate to contact us if you have any questions.
Important information about your insured cover
Your insured amount can be influenced by many factors, such as the design of your plan, whether you elect to take out insurance and the level of cover provided by the insurer.
In relation to the design of your plan, the insured amount is calculated based on the insurance option shown above. If you have not elected or are not eligible to select an option, then your insured amount may be restricted to $0.00 or shown as not applicable. Depending on your plan design, not all insurance options can be displayed.
In some cases, the insurance benefit you receive may vary. These include, but are not limited to:
- The insurer may decline or apply an exclusion or restriction to your insurance amount. This means in some circumstances the insurance amount may not be paid or may be limited.
- The insurer may have asked you to provide health evidence before your requested level of insurance cover will be provided. Until the insurer has received and assessed this evidence, your insured benefit(s) will be restricted to $0.00, shown as not applicable or the amount(s) advised previously.
- Your age or employment status or number of average hours worked per week precludes you from any entitlement to disablement cover.
The insured amount indicated above is inclusive of any additional voluntary insurance or voluntary insurance amount you have (as applicable).
Important information about your total insurance benefit
The estimate of your total insurance benefit provided on this website does not describe all of the conditions affecting the amount and its availability. Your total benefit is determined in accordance with the Trust Deed, Trustee determinations, Government regulations and the benefit design of the plan. The estimate should therefore be read in conjunction with the Product Disclosure Statement or any other member materials you have received from the Trustee.
The estimate does not guarantee you will receive a particular benefit and is based on information available to the Trustee at the time this calculation has been processed. The unit prices used when paying your benefit will be those available at the time your benefit is processed by the Administrator. If you have requested an investment switch which has not been processed or have a surcharge assessment that is not yet effective, this will affect the benefit displayed here.
While all reasonable efforts have been made to ensure the information contained in this estimate is correct, the Trustee reserves the right to correct any error or omission. You should not enter any commitments based solely on the information contained in this estimate.
If any of your personal details are incorrect, the total benefit estimate may be affected. If you have any queries concerning your estimate or further information about your benefit, please contact us.