NESS Super

Death & TPD Cover

Death and Total Permanent Disablement Cover

Death insurance provides peace of mind to members that a lump sum payment is made to your family and/or other beneficiaries who you may have elected in the event of your death or upon being diagnosed with a terminal illness.

With Death and TPD cover, NESS Super provides automatic cover if you die prior to the age of 65. It is 2 units of cover depending on your age. Premiums are also based on a member’s age. You can refer to the NESS Super PDS Opens in new window about the Default Cover and Premiums for Death and TPD.

At NESS Super we believe in putting members first, so our proactive approach is aimed at ensuring that members do not pay for cover that they do not want.

Our modelling shows that the most likely age of claiming is between the ages of 35 and 45 where our Cover is at its maximum level. This also matches the period of life when financial commitments are typically the highest, when you have started a family, or you’ve bought property.

Our older members are focused on saving for retirement and generally have less debt. So older members will not pay as much for insurance but will have less cover.

The value of our TPD cover offering is similar to the default death cover where premiums and cover is based on member’s age. The difference is the timeframe where default TPD expires 5 years prior to the default death insurance cover.

The graphs below are a visual presentation of our arrangements for Death and TPD that took effect from 30 November 2019.