How insurance works

Insurance can give you a financial safety net by paying a lump-sum amount or income replacement when you need it most.

Overview

Affordable and flexible protection for you and your loved ones.

Insurance through super is like insuring your home or car, except you're insuring something much more valuable - you! It can be your safety net in case something happens, and you can no longer work.

Costs for any insurance you have with Spirit Super are deducted from your account each month.

Types of insurance we offer

Through your Spirit Super account, you can access three types of insurance: 

Default cover

Most Spirit Super members get default cover when they become a member and meet certain eligibility conditions.  

Default cover is a set amount of insurance based on your age. The amount of default cover and the cost you pay for that cover will change as you get older.  

Not all members are eligible for default cover, so make sure you review the eligibility conditions.  

Find out more

To find out more about default and fixed cover with Spirit Super including eligibility conditions and costs, read our Insurance guide

Check your cover

To check the type, amount and cost of cover you have through Spirit Super, log in to Member Online

Benefits of insurance through super

Insurance through super can be more affordable than cover outside of super. This is because:

  • we negotiate group rates, so you generally pay less than you would if you applied individually 
  • the cost of cover is paid straight from your super account, so it doesn’t affect your take-home pay 
  • we can claim a tax deduction on insurance premiums which we pass straight back to you through reduced insurance costs

To find out more about your insurance options, read our Insurance guide.   

Occupation ratings

Your occupation rating is used to calculate the cost of your cover and reflects the kind of work that you do.

There are three occupation ratings. Generally, the riskier your job, the more you’ll pay for insurance.

Occupation ratings

General Office Professional
This rating is available to everyone but generally applies to members who perform manual duties, teach, or work predominantly outside an office environment.

Having cover with a General occupation rating will cost you more than cover with an Office or Professional occupation rating.

You may be eligible for the Office occupation rating if the duties of your occupation are limited to professional, managerial, administrative, clerical, secretarial or similar ‘white-collar’ nature tasks which don’t involve manual work or teaching and you do not spend more than 20% of your working time outside an office environment (excluding travel time from one office environment to another). You may be eligible for the Professional occupation rating if you:
  • are eligible for the Office occupation rating
  • earn over $110,000 each year, and either:
  • have tertiary qualifications, or
  • are a registered member of a professional institute or governing body in relation to your profession, or
  • work in a management role.

    A tertiary qualification includes a university degree, graduate certificate, advanced diploma and/or a diploma.

Note: Any cover you have with Spirit Super will be based on the General occupation rating, unless you apply to change your occupation rating and are accepted by the Insurer.

Tip: if you’re in the wrong occupation rating category, you may be paying too much for your cover, or may not have the right cover for your needs. To check your occupation rating, log in to Member Online.

How to change your occupation rating

Your occupation rating will apply for all types of insurance cover your hold with Spirit Super. To apply to change your occupation rating, login to Member Online or complete and return the Occupation rating form.

Your application is subject to acceptance by our insurer.

What happens when you change occupation rating?

If you’re accepted for the Office or Professional occupation rating, you’ll keep this rating as long as you have continuous cover with us, regardless of any future changes to your job or duties.

You can apply to update your occupation rating again if your circumstances change. If you no longer have cover with Spirit Super and re-apply for cover in the future, you’ll need to reapply to update your occupation rating.

Tip:

When you change jobs or your duties change, it’s up to you to apply to change your occupation rating so your insurance costs can be adjusted accordingly.

More information

To find out more about occupation ratings, read our Insurance guide.

We’re in a limited services period until 30 April 2021. More information.