If you don’t want your insurance cover to reduce each year, you can apply to retain a set level of Death Cover and optional TPD Cover (although TPD cover will still decrease in a linear manner each year after age 60 to nil at age 70).
It’s important to note that fixing your cover level will mean that the insurance premium deducted from your account will generally increase each year.
TPD Cover amounts will reduce by 10% for each complete year after age 60. The TPD Cover premium will be calculated based on the reduced sum insured.
Fixed cover is available in multiples of $1,000.
20 |
$146.64 |
$40.56 |
$48.36 |
30 |
$96.72 |
$82.68 |
$96.72 |
40 |
$184.08 |
$329.16 |
$386.88 |
50 |
$357.24 |
$1,165.32 |
$1,371.24 |
60 |
$803.40 |
$3,037.32 |
$3,572.40 |
15-19 |
0.0099 |
0.0024 |
0.0028 |
20 |
0.0094 |
0.0026 |
0.0031 |
21 |
0.0089 |
0.0029 |
0.0034 |
22 |
0.0083 |
0.0030 |
0.0036 |
23 |
0.0078 |
0.0032 |
0.0037 |
24 |
0.0073 |
0.0033 |
0.0039 |
25 |
0.0068 |
0.0034 |
0.0039 |
26 |
0.0064 |
0.0035 |
0.0041 |
27 |
0.0062 |
0.0039 |
0.0045 |
28 |
0.0061 |
0.0043 |
0.0050 |
29 |
0.0061 |
0.0047 |
0.0056 |
30 |
0.0062 |
0.0053 |
0.0062 |
31 |
0.0064 |
0.0059 |
0.0070 |
32 |
0.0067 |
0.0068 |
0.0080 |
33 |
0.0071 |
0.0078 |
0.0092 |
34 |
0.0076 |
0.0089 |
0.0105 |
35 |
0.0080 |
0.0102 |
0.0120 |
36 |
0.0086 |
0.0117 |
0.0138 |
37 |
0.0092 |
0.0135 |
0.0159 |
38 |
0.0100 |
0.0156 |
0.0184 |
39 |
0.0108 |
0.0180 |
0.0212 |
40 |
0.0118 |
0.0211 |
0.0248 |
41 |
0.0128 |
0.0244 |
0.0287 |
42 |
0.0137 |
0.0278 |
0.0327 |
43 |
0.0145 |
0.0313 |
0.0369 |
44 |
0.0153 |
0.0351 |
0.0413 |
45 |
0.0161 |
0.0390 |
0.0459 |
46 |
0.0170 |
0.0438 |
0.0515 |
47 |
0.0181 |
0.0497 |
0.0585 |
48 |
0.0195 |
0.0569 |
0.0669 |
49 |
0.0210 |
0.0653 |
0.0768 |
50 |
0.0229 |
0.0747 |
0.0879 |
51 |
0.0251 |
0.0848 |
0.0997 |
52 |
0.0274 |
0.0954 |
0.1123 |
53 |
0.0297 |
0.1068 |
0.1257 |
54 |
0.0322 |
0.1178 |
0.1386 |
55 |
0.0349 |
0.1284 |
0.1511 |
56 |
0.0378 |
0.1398 |
0.1645 |
57 |
0.0408 |
0.1519 |
0.1787 |
58 |
0.0441 |
0.1649 |
0.1940 |
59 |
0.0476 |
0.1790 |
0.2106 |
60 |
0.0515 |
0.1947 |
0.2290 |
61 |
0.0560 |
0.2132 |
0.2508 |
62 |
0.0613 |
0.2353 |
0.2769 |
63 |
0.0676 |
0.2613 |
0.3074 |
64 |
0.0745 |
0.2905 |
0.3418 |
65 |
0.1081 |
0.3239 |
0.3811 |
66 |
0.1243 |
0.3622 |
0.4262 |
67 |
0.1431 |
0.4068 |
0.4786 |
68 |
0.1638 |
0.4597 |
0.5409 |
69 |
0.1864 |
0.5239 |
0.6163 |
Premium rates for HESTA's fixed cover insurance are shown in the table above. Please use these to calculate the weekly cost of your selected fixed cover, not only at your current age but also in the future.
Warning: The cost of fixed amounts of insurance will increase significantly as you grow older, reducing your retirement savings.