Life and disability insurance

In a nutshell, Life insurance can provide a lump sum if you die or become terminally ill. Total and Permanent Disablement (TPD) insurance can provide a lump sum if you are permanently unable to work due to illness or injury. A lump sum can play a huge role in financially protecting your family through challenging times. Having Life and TPD insurance in super means that your premiums are paid directly from your super account. Our Insurance in super page explains how insurance in super could work for you.

Once eligible, NGS members may receive Default Life and TPD insurance within super. Default Cover is age-based — this means, the level of cover you initially receive will depend on how old you are when you become eligible. This level of cover will change as you get older.

You can get an idea of how much Life and TPD cover you may need using our insurance quote calculator. If you don’t think your Default Cover suits your needs, there are various ways (described further below) you can apply to change it.

If you are planning to roll your full account balance from another super fund into your NGS Super account, you can apply to transfer any insurance attached as well. 'Transfer' in this context refers to new cover in your NGS Super account (subject to our insurer's definitions, terms and conditions) that will be issued to replace the cover you have with your other super fund.

It's important to make sure your insurance transfer is complete before you roll your super account balance across, otherwise your previous super fund may cancel your insurance completely. Please read our Insurance Guide for more information.

Depending on the type of change you wish to make, you'll need to meet certain eligibility criteria. You should read our Insurance Guide before applying to change your insurance online or by completing a form.

You can change your insurance by applying to:

• increase your cover
• reduce your cover
• cancel your cover