About Cbus Insurance
About Cbus Insurance
Cbus secures an improved insurance offering for members from 1 December 2011.
Cbus has renewed its insurance contract with its Insurer, Hanover Life Re, allowing members to access more Death and Total and Permanent Disablement (TPD) insurance cover. These changes took effect from 1 December 2011. This page provides a summary of the benefit enhancements available.
Click here for more information on the insurance changes effective from 1 December 2011
Are you and your family protected?
Cbus provides members with access to affordable insurance for:
- Death & Total and Permanent Disablement (TPD) – which entitles you or your dependants to receive a lump sum insurance benefit if you die or become Totally and Permanently Disabled;
- Terminal Illness Benefit – a one-off payment in the event you are diagnosed as having a terminal illness and a life expectancy of less than 12 months.
Cbus members can also access Income Protection cover through Cbus' Income Continuance Portfolio. Call the Income Continuance insurance line on 1300 362 146 for more information.
How much cover do you need?
Cbus believes everyone should have some insurance cover to protect against unforeseen circumstances. That’s why we provided you with a default level of cover on the standard Cbus Manual scale when you first joined the Fund.
As a member you are required to keep a minimum of one unit of insurance cover while you are receiving employer contributions. But is this enough? Would your family cope if you died or were unable to work because of illness or injury? How long could you survive without a regular income?
Choose the level of cover you need
With Cbus, you can apply to increase your level of insurance cover at any time, subject to satisfactory evidence of health.
Cbus has three insurance scales: Manual, Non-manual and Connect (Electech). Your day-to-day work activities and the answers you provide on your Membership Application form will determine which insurance scale applies to you. If you do not complete a Membership Application form, you will automatically be provided cover under the Manual insurance scale. Premiums are taken out of your super, so you don't have to worry about managing payments.
Full details about the insurance cover available to members who are receiving super contributions from an employer are contained in the Insurance Handbook for Industry Superannuation.
