Insurances
Insurance doesn’t have to cost a fortune. The MAP Superannuation Plan offers affordable insurance options so you can plan for your retirement and know that you are covered for those unexpected events and ‘what ifs’.
Your insurance options
The MAP Superannuation Plan offers you competitively priced insurance, as part of the Group Life and Group Income Protection Policies held by us with Hannover Life Re of Australasia Ltd (‘the Insurer’).
MAP Superannuation Plan’s insurance choices include:
- Death only
- Death & Total and Permanent Disability (TPD)
- Income Protection and
- Death, TPD & Income Protection.
Eligibility
You can apply for insurance cover if:
- You are a member of the MAP Superannuation Plan and have sufficient funds in your account to cover the cost of your monthly premiums
- You are aged between 15 and 641
- You are an Australian resident
- For income protection cover you must be gainfully employed and working 15 hours or more per week at the date you are first eligible to apply.
1 If you have taken out Death or Death and TPD insurance before you turn 65, your cover continues to age 70 as long as there is enough money in your MAP Superannuation Plan account to meet the monthly premiums.
Default Cover
When you first join the MAP Superannuation Plan you may be eligible for a default level of Death & TPD cover. There are two different types of default cover depending on whether you join MAP as a “personal member” or an “employee member”. The amount of cover you are eligible to receive depends on your age at the time of joining. See our Insurance Q&A for how to determine your eligibility to join as a personal or employee member and for full details of default cover.
Where can I find more information?
See the MAP Group Life and Income Protection Insurance Q&A for more information on MAP Group Life and Income Protection Insurance.
Can you provide me with personal advice?
It’s important to understand your options and to make the right choices in relation to your insurance cover. As a MAP member, the fees you pay include access to personal advice on insured benefits within the MAP Superannuation Plan*. Contact us on 1800 640 055 and a qualified representative will provide you with this advice free of charge.
* For advice outside of the fund, a full financial plan is required.