IMPORTANT INFORMATION - INSURANCE

 

Important information

This important information relates to many member’s accounts; their circumstances may be different from yours. If you are in doubt about whether or not a particular provision applies to you or if you simply would like further information, please call us on 0508 637 237 or +61 3 8687 1886 if calling from outside of New Zealand.

As a member of the Mercer Super Trust (MST), you may be entitled to receive an insured benefit as part of your super if you die or become disabled due to illness or injury.

Key Terms:

Depending on your super account, the following may apply to you. Please read your Product Disclosure Statement (PDS) for more information.

1. Death Benefit: As a member if you die, your super (including your insurance, if any) can be paid as a lump sum to your beneficiaries or your Estate.
2. Total and Permanent Disablement Benefit (TPD): As a member if you become totally and permanently disabled, your super (including your insurance, if any) can be paid to you in a lump sum.
3. Total but Temporary Disablement (TTD): If you become totally but temporarily disabled, you may be eligible for a TTD benefit, a monthly benefit of up to 75% of income payable in monthly instalments after the waiting period.
4. Your benefit payment may be subject to taxation. It is your responsibility to comply with all relevant tax laws. We recommend that you seek advice from your accountant, tax adviser or IRD about your personal tax circumstances.

If you currently have insurance cover, your total benefit, including the insured amount, may be shown on the Dashboard. Note that depending on your benefit design, 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.

Please refer to your PDS, the Your Plan Details (YPD) document and other member documents available on the Documents page for specific information about your cover and don't hesitate to call us on 0508 637 237 or +61 3 8687 1886 if calling from outside of New Zealand, if you have any questions or would like more information.

Important information about your insured amount

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.

There may be various circumstances where the insurer requires that the insured amount of any super payout you receive in the event of your death or disablement while a member of the plan be varied. These include, but are not limited to:

  • The insurer may decline or apply an exclusion or restriction to your insurance amount. This means the insurance amount may not be paid or may be limited in some circumstances.
  • The insurer may have asked you to provide health evidence before your required level of insurance cover will be provided. Until such time that 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).

If you believe that your insured amount may be subject to any of the circumstances above, please refer to previous correspondence for full details.

Important information about your total benefit

The estimate of your total 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, Supervisor or Manager determinations, Government regulations and the benefit design of the plan. The estimate should therefore be read in conjunction with the PDS or any other member materials you have received from the Supervisor or Manager.

The estimate does not guarantee that you will receive a particular benefit and is based on information available to the Manager 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 Manager. 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 call us on on 0508 637 237 or +61 3 8687 1886 if calling from outside of New Zealand.