Types of insurance we offer

While most people insure their car and home, when it comes to life insurance, many people have little or no cover. Think about how you or your family might cope financially if you were not able to work, either temporarily or even permanently, due to illness, injury or death. 

Australian Ethical Super offers three types of cover: Death only, Death and Total & Permanent Disablement (TPD), and Income Protection (IP) cover to our members.  

How your cover works:  

• Death or Death and TPD cover can be provided as unitised cover or fixed cover 
• Income Protection cover is provided as fixed cover  

Premiums are based on your amount of cover, age, sex at birth and occupation category and for Income Protection cover, the waiting period and benefit period. They are displayed on your statements, online account, and all relevant correspondence and disclosures as part of an item labelled Insurance fees. 

Unitised cover (Death only or Death and TPD) 

With unitised cover, your insurance is made up of units, where each unit provides a set amount of cover. The total cover you have depends on how many units you hold. 

There are two ways to have unitised cover: Default cover and Voluntary cover. 

Default Death and TPD Cover (Unitised)

Default cover is designed to provide a basic level of insurance automatically once you meet certain eligibility conditions. 

The amount of Default Cover you receive changes as you grow older and your insurance needs change and is determined by an age based unitised cover scale. 

Who gets default cover

Default cover generally starts automatically if you: 

• are aged 25 to 67 
• have at least $6,000 in your super account 
• do not have an inactive account 
• have not previously cancelled insurance through your account 

An inactive account is generally one that has not received any contributions or rollovers for a continuous period of at least 16 months. 

For the first 30 days, Default cover is limited to cover for new events only. This limitation is removed after 30 days, provided you meet the conditions outlined in the Insurance Guide. 

If you are under 65, you can choose to opt-in to commence Default Cover earlier, before the automatic eligibility conditions are met, by completing an Insurance Opt-in Form.  

Please refer to our Insurance in Superannuation Key Facts Sheet, our Insurance FAQs and our Insurance Guide for applicable terms and conditions. 

Opting-out of or cancelling Default Cover

If you opt out of Default Cover, your insurance won’t commence automatically. New members have the option to opt out of Default Cover when they join. If you’re an existing member and your Default Cover hasn’t commenced, you can contact us (by phone or email) or you can complete the Insurance Variation Form to opt out of cover commencing. If you require insurance in the future you will need to apply to the insurer and provide health information. Your application may or may not be accepted, and may be subject to conditions or exclusions.  

For members who already hold Default Cover and want to cancel their insurance, you can do this online via the member portal, by contacting us (by phone or email) or you can complete the Insurance Variation Form. 

Further information about opting out or cancelling cover and how this may impact you or your beneficiaries in the future can be found in our Insurance FAQs.

Voluntary unitised cover (Death only or Death and TPD)

Voluntary unitised cover allows you to apply for a specific number of units of Death cover or Death and TPD cover. 

You can apply for voluntary unitised cover if: 

• you are not eligible for Default cover, or 
• you previously cancelled your insurance, or 
• you want to increase the amount of unitised cover you already have 

Applications for new or higher cover are subject to acceptance by the insurer and may require health information. 

You can also choose to fix your current level of unitised cover, so it does not change automatically over time. 

Fixed cover (voluntary)

With fixed cover, you apply for a set dollar amount of insurance that does not change unless you request it. 

You can apply for fixed: 

• Death cover, or 
• Death and TPD cover, or 
• Income Protection 

When you apply for fixed cover, you’ll need to provide medical information and your application may be subject to loadings, exclusions or other conditions set by the insurer. 

If you have Fixed cover, the amount of cover will remain the same regardless of your age until you reach age 61 (subject to maximum insurable age restrictions). From age 61, your TPD cover will reduce each year until it reduces to zero when you turn 70, in line with the insurer’s age‑based reduction schedule. 

Types of insurance available

Death cover

Often referred to as ‘Life Insurance’ outside of super, Death Cover pays a lump sum amount to your loved ones if you pass away or suffer from a terminal illness. 

TPD cover

Total and Permanent Disablement (TPD) Cover pays a lump sum amount to provide financial support if you suffer an illness or injury that leaves you totally and permanently disabled as defined in the Insurance Guide. Please note, we do not offer standalone TPD Cover and is only offered in conjunction with Death Cover. 

Income Protection cover

Income Protection Cover provides you with an income which can help meet your living expenses if you're not able to work for a specified period due to illness or injury. Income Protection Cover needs to be applied for separately, and waiting periods and maximum benefit periods apply. 

Please read our Insurance Guide for further information.

Make a claim

Our step‑by‑step process is designed to make lodging an insurance claim clear and straightforward. We’re here to support you through your claim and help you at every stage. 

Step 1: Get in touch with us

Start by contacting Australian Ethical on 1800 021 227. 

Our team will conduct an eligibility check, talk you through the claims process, what information you may need, and get you started. 

Step 2: Submit your claim online

Your Australian Ethical claim case manager will set you up in our insurer MetLife’s online claim portal. From here you can you submit information about your claim and upload any required supporting documents. 

Submitting your claim via the online portal helps to: 

• track the action you need to take
• make it easier to provide the information needed 
• securely upload documents 
• track the progress of your insurance claim 

Step 3: Claim assessment 

Once submitted, your claim will be assessed in line with the policy terms and eligibility criteria. Our insurer, MetLife, will complete this assessment process. 

You may be contacted if additional information, clarification, or further evidence is required to support your claim. 

Step 4: Outcome and next steps

You’ll be advised of the outcome of your claim in writing, along with any next steps. If your claim is approved, payment will be made in accordance with the policy terms. You may be required to submit additional information to us to finalise the claim.  

Choosing who receives your super and Death Cover

If you are a member of Australian Ethical Super, you can complete a Binding Death Benefit Nomination or a Preferred Beneficiary nomination to specify who you would like to receive your super and any Death Cover you have when you pass away,  If you do not have any nomination, your benefit will be paid at the discretion of the Trustee to one or more of your dependents and/or legal personal representative. Further information is provided below: