Home : Insurance : Who is the insurer?
Who is the insurer?
All insurance benefits are currently provided by TOWER Australia Ltd (ABN 70 050 109 450). TOWER Australia is part of the TOWER Group, a diverse financial services organisation which operates throughout the South Pacific region. For further information about TOWER Australia Ltd, please visit their website at www.toweraustralia.com.au.
Death and TPD insurance
In the event of your death or total and permanent disablement during your membership with the Plan, a lump sum amount equal to the balance of your account plus your insured amount, will be paid to you and/or your dependants.
Click here to read about who a benefit may be paid to. (PDF 210Kb)
If eligible, you can choose from four levels of Death Only and Death and TPD Insurance cover:
| Description | Level of Cover | Additional Cover Available |
|---|---|---|
| Basic Cover (ie default level) | Units of Cover Age-Based to Age 65 | You may purchase up to 5 units of Basic Cover and/or Additional Cover** in increments of $20,000 |
| Standard Cover | 15% x Salary x Years to Age 65 | |
| Top Cover | 20% x Salary x Years to Age 65 | |
| Additional Cover** | Multiples of $20,000 |
**You can elect to have Additional Cover on top of or in place of the Basic Cover, Standard Cover and Top Cover insured amounts.
Who is eligible for life insurance?
Your employment status and age determines your eligibility and whether you will automatically be covered for Death and TPD.
For further information about eligibility and life insurance, please read the Super Solutions Product Disclosure Statement (Issued 1 December 2007, Version 2.0).
