We offer a range of insurance products, including life insurance, total and permanent disablement (TPD) and income protection.
Applying for insurance is as easy as ticking a box in your brightday application form.
If you're young and starting out, your insurance needs may be fairly uncomplicated, so in many cases you'll be approved online on the spot when you apply.
If your needs are more complex (for example if you have children and/or a mortgage), we can help you work out what type and amount of cover you need. Depending on your needs, you'll either be automatically approved or we'll help get your application assessed and get back you.
We have a range of different products to cover you, depending on your needs.
- Life insurance: provides a payment if you die*
- Total and Permanent Disablement (TPD): provides a payment if you suffer an illness or injury that leaves you totally and permanently disabled*
- Income protection: a monthly benefit to replace your income if an accident, illness or major trauma precludes you from working
* Life and TPD insurance are generally bundled together, so your TPD is included with your life cover for the same premium.
To learn more about the different types of insurance available, read our insurance education series.
How does it work?
When you apply for your Total SMSF account, simply tick the box in the application form to indicate you're interested in insurance, then follow the prompts in the form.
Depending on the type and amount of cover you want, you'll either be automatically approved or we'll get your application assessed and get back to you.
For more information and details of cover available, read the Insurance PDS
Not sure what type of insurance is right for you? Learn more
Things you should know
- To obtain insurance you are required by law to advise the insurer of any health conditions or other details that could affect the insurer's decision to insure you. If you do not fully disclose relevant details, the insurance contract may be voided or you may receive a lesser payment in the event of a claim
- The insured value and cost of cover will depend on factors like your age, your occupation and your gender
- Premiums are deducted from your Cash Hub monthly. Coverage is only in place if premiums are paid and continue to be paid
- Life Insurance can provide cover of up to any financially justifiable amount, fully underwritten
- TPD has maximum benefit of $5m
- Income Protection provides monthly benefit of up to 75% of pre-disability earnings, up to $30,000 per month, for benefit period above five years
Trauma cover is not available inside super.