Disability & death cover calculator

  • Package choice
  • Death cover
  • Disability cover options
  • Fixing cover
  • Further information
Eligible members can choose between 4 insurance package options:

My annual salary:

My current age:

     

Option 1 (the default)

 Amount of cover Weekly cost
2 units of Death Cover, and $170,000 $1.44
2 units of Income Protection with cover and monthly benefits available until age 671. $850 per month $2.01

1 Subject to a 90-day waiting period if you are totally disabled, or for up to 2 years if you are temporarily or partially disabled. Based on your ability to undertake your own occupation.

Income protection benefits are limited to 85% of salary. You may not be entitled to receive this full amount.

 Total $3.45
     

Option 2

 Amount of cover Weekly cost
2 units of Death Cover, and $170,000 $1.44
2 units of Lump-Sum Total and Permanent Disablement (TPD) Cover until age 702. $170,000 $1.76

No disablement benefit is payable if you are only temporarily or partially disabled. Based on your ability to undertake any occupation.

2 Payment of a lump-sum disablement benefit will reduce your Death Cover by the payment amount.

 Total $3.20
     

Option 3

 Amount of cover Weekly cost
2 units of Death Cover, and $170,000 $1.44
2 units of Lump-Sum Total and Permanent Disablement (TPD) Cover until age 702. $170,000 $1.76
2 units of Income Protection with cover and monthly benefits available until age 67 with a maximum benefit period of 2 years1. $850 per month $0.60

No disablement benefit is payable if you are only temporarily or partially disabled. Based on your ability to undertake any occupation.

1 Subject to a 90-day waiting period if you are totally disabled, or for up to 2 years if you are temporarily or partially disabled. Based on your ability to undertake your own occupation.

2 Payment of a lump-sum disablement benefit will reduce your Death Cover by the payment amount. Income protection benefits are limited to 85% of salary. You may not be entitled to receive this full amount.

 Total $3.80

Option 4

 Amount of cover Weekly cost
2 units of Death Cover, and $170,000 $1.44
2 units of Lump-Sum Total and Permanent Disablement (TPD) Cover until age 702. $170,000 $1.76
2 units of Income Protection with cover and monthly benefits available until age 671. $850 per month $2.01

No disablement benefit is payable if you are only temporarily or partially disabled. Based on your ability to undertake any occupation.

1 Subject to a 90 day waiting period) if you are totally disabled, or for up to 2 years you are temporarily or partially disabled. Based on your ability to undertake your own occupation.

2 Payment of a lump-sum disablement benefit will reduce your Death Cover by the payment amount. Income protection benefits are limited to 85% of salary. You may not be entitled to receive this full amount.

 Total $5.21
Or, you can apply to vary your insurance to suit your personal requirements. Consider:
  • Package choice
  • Death cover
  • Disability cover options
  • Fixing cover
  • Further information
Death Cover, how much do you want?
My liabilities
Home mortgage
Credit card debt
Personal loans
Car loans
Funeral Expenses
Others
Cash lump sum for your family
Total $0
Less existing death insurance
Less current super balance
Less other savings
Gap $0

Or choose another amount

Default

Your choice

  
Death Cover indicated $0  
Units of Death Cover currently needed to cover this (rounded up) 0 0  
Cover under these units equals $0 $0  
The cost of these units per week $0 $0  
  • Package choice
  • Death cover
  • Disability cover options
  • Fixing cover
  • Further information
Disability Cover Options

HESTA offers the choice between disability benefits paid as a monthly income (IP Cover), or as a single lump-sum (TPD Cover). Different definitions of "disablement" apply. As your retirement savings grow, there may be less need to maintain high levels of insurance. It's vital that you reach a considered decision about the amount and type of cover that best meets your needs. This will depend on your individual circumstances.

You should be aware that the cost of insurance premiums reduces that amount of your superannuation balance.

Income Protection (IP) Cover

If you have to stop work because of an illness of injury, HESTA's IP cover can give you an indexed monthly income until age 67 to help you pay your expenses until you return to work. Even if you're temporarily or partially disabled, you may qualify for a monthly benefit for up to 2 years.
Your maximum annual IP benefit is $0 85% of your salary, capped at $300,000
Your maximum monthly cover is $0 (annual maximum/12)

Or choose less units

Default

Your choice
Number of IP units 0
Your available monthly cover ($425 per month per unit) is $0 $425  

The cost per week of this cover is:
With cover and benefit to age 60
a. with a 90-day waiting period (Basic) $0 $0  
b. with a 60-day waiting period $0 $0  
c. with a 30-day waiting period $0 $0  
With cover and benefit to age 67
a. with a 90-day waiting period $0 $0  
b. with a 60-day waiting period $0 $0  
c. with a 30-day waiting period $0 $0  
With cover and benefit to age 60 and 2 years maximum benefit period
a. with a 90-day waiting period (Basic) $0 $0  
b. with a 60-day waiting period $0 $0  
c. with a 30-day waiting period $0 $0  
With cover and benefit to age 67 and 2 years maximum benefit period
a. with a 90-day waiting period $0 $0  
b. with a 60-day waiting period $0 $0  
c. with a 30-day waiting period $0 $0  

Lump-sum Total & Permanent Disablement (TPD) Cover (uses any occupation definition)

TPD Cover may provide you with a lump sum if you are permanently unable to work and meet relevant requirements. TPD Cover does not provide a benefit if you’re only partially or temporarily disabled.
Maximum TPD Cover (no more than Death Cover, capped at $3 million) $0 $0

Or choose less units

Maximum

To match your chosen death cover

Your choice
Number of TPD Cover units 0 0
TPD Cover $0 $0 $0
 
Cost per week of these units $0 $0 $0
  • Package choice
  • Death cover
  • Disability cover options
  • Fixing cover
  • Further information
Fixing cover

Or you can choose to “fix” the amount of your Death and Lump-Sum TPD Cover (in multiples of $1,000).

Fixed TPD Cover will reduce progressively after age 60 to nil at age 70.

Amount of Death Cover you want
Amount of TPD Cover you want
Available Death Cover (Maximum $5,000,000) $0 (available until your 75th birthday)
Available Lump-Sum TPD Cover cannot exceed Death Cover) $0 (will reduce progressively after age 60 to nil at age 70)

The cost per week of this cover is:
Now
a. Death Cover $0 $0
b. TPD Cover $0 $0
In 5 years
a. Death Cover $0 $0
b. TPD Cover $0 $0
In 10 years
a. Death Cover $0 $0
b. TPD Cover $0 $0
In 15 years
a. Death Cover $0 $0
b. TPD Cover $0 $0

Annual cost of your fixed cover (TPD Cover reduces from age 60)

If you are considering choosing fixed cover you should be aware that your insurance premiums may increase significantly with age. For example the annual cost of your selected insurance would be:

It is important to consider whether fixed or unitised cover is best for you. This will depend on your individual circumstances. You should be aware that the cost of insurance premiums reduces the amount of your superannuation account balance. As your retirement savings grow, there may be less need to maintain high levels of insurance. It is vital that your each a considered decision about the amount and type of cover that best meets your needs.

  • Package choice
  • Death cover
  • Disability cover options
  • Fixing cover
  • Further information
Thank you for using this calculator Print results

Download the Insurance options guide or if you require further assistance please contact us on Freecall 1800 813 327.

Back to calculators
edit
Please enter your annual salary before continuing.

Disclaimer

The Disability and Death Cover Calculator (‘the calculator’) is provided by H.E.S.T. Australia Limited ABN 66 006 818 695 AFSL 235249, trustee of Health Employees Superannuation Trust Australia (HESTA) ABN 64 971 749 321.

The purpose of the calculator is to provide information about the costs and benefits of the insurance cover available through HESTA. The calculator is provided for illustrative purposes only and outcomes are not guaranteed in any way.

The calculator does not apply to the HESTA Income Stream.  For information about that product read the HESTA Income Stream Product Disclosure Statement at hesta.com.au/sis.

The calculator is based on terms of cover available from 1 March 2012.  Full terms and conditions, including any exceptions or offsets, are contained in the policy documents between H.E.S.T. Australia Limited and the Insurer, and take precedence over this calculator. Any changes to terms of cover may impact on the results produced by the calculator. 

Premiums quoted include stamp duty and taxes which may change over time, affecting the amount of premiums. Actual premiums will depend on a range of factors, including the waiting period and benefit payment term for Income Protection benefits, and the disability definition used for any lump-sum TPD benefits. Premium rates and terms of insurance may vary in the future.

All cover is subject to assessment and acceptance by the insurer, the terms and conditions of the policy, and payment of premiums. Cover may be declined or accepted on non-standard terms. Cover limits may apply.

The calculator is based on information that has not taken into account your particular financial needs, circumstances and objectives, and is not intended to be relied on for the purposes of making a decision in relation to financial products. However, you should be aware that increasing your death or disability insurance premiums (including by fixing your cover) will reduce your retirement savings, and, as your retirement savings grow, there may be less need to maintain high levels of insurance. It is vital that you reach a considered decision about the amount and type of cover that best meets your needs. You should consider obtaining advice from a financial services licensee before making any financial decisions.

While every attempt has been made to ensure the accuracy and reliability of the information, H.E.S.T. Australia Limited makes no representations in respect of the accuracy, currency or completeness of the results provided by the calculator, and, accepts no liability for any loss or damage as a result of any person relying on any information obtained by using the calculator.

You should obtain and consider the relevant HESTA Product Disclosure Statement before making any financial decision in relation to HESTA products.
I have read the disclaimer Exit calculator