Right now, your most valuable assets are your health, family, and your income-earning potential. Protecting these against the unexpected can give you peace of mind.
That’s why at Hostplus we offer eligible members automatic insurance with options to tailor cover. With insurance premiums deducted from your super account, insurance cover will continue as long as there are sufficient funds to pay the premiums and eligibility is still met.
Automatic Insurance
If your employer has special insurance arrangements with Hostplus on behalf of its employees, you’ll be advised of the type and level of cover in your welcome letter from Hostplus, or recent communication from your employer.
Employer Funded arrangements
If your employer is paying for some or all of the default insurance arrangement as part of their Hostplus Executive plan, the premiums will be reimbursed by your employer by way of making additional employer contributions to your account.
Any additional insurance cover will be funded by you.
Automatic Death and Total & Permanent Disability (TPD) insurance
Under Putting Members Interests First (PMIF) Government legislation, Hostplus can only provide automatic Death & TPD insurance cover when you first meet the following criteria (subject to eligibility requirements):
- you’re aged at least 25 years, and
- your Hostplus Executive account balance first reaches at least $6,000.
If you don’t meet these criteria, you can also opt-in to automatic insurance cover, subject to terms, conditions, and eligibility requirements. However, the PMIF insurance rules referred to above do not apply where an employer makes contributions to cover the full cost of a member’s insurance premiums (Employer-Sponsor Contribution Exception).
For more details, visit hostplus.com.au/insurance.