Protect yourself and your family with low-cost, flexible cover.
Our standard Income Protection (IP) Cover provides a monthly benefit to help you and your family meet ongoing living expenses, in the event you are sick or injured and cannot work.
Our IP Cover means that if you're totally disabled either permanently or temporarily, we’ll pay you a benefit every month for up to five years, after a 90 day waiting period (conditions apply and is subject to policy terms and conditions).
Key features
What is Standard Cover?
Eligible HESTA members automatically receive standard insurance cover when they are at least aged 25 and have had an account balance of $6,000 after joining. Alternatively members can opt into cover earlier. Read Insurance options (pdf) for information on when cover starts.
You may be able to get Standard Cover before it automatically starts by letting us know when you join the Fund. After 90 days, HESTA members need to complete a short personal health statement if they want cover before becoming automatically eligible.
Standard Cover through HESTA has a low weekly insurance fee that varies with your age and provides two units of Income Protection Cover with a benefit payment period of up to five years, a 90 day waiting period and a cover expiry age of 67; and two units of Death Cover to age 75..
Our standard Death Cover provides a lump-sum benefit to help with ongoing expenses and one-off costs your family may face in the event of your death or in some cases, terminal illness.
Key features
What is Standard Cover?
Eligible HESTA members automatically receive standard insurance cover when they are at least aged 25 and have had an account balance of $6,000 after joining. Alternatively, members can opt into cover earlier. Read Insurance options (pdf) for information on when cover starts.
Standard Cover through HESTA has a low weekly insurance fee that varies with your age. It provides two units of Income Protection Cover with a benefit payment period of up to 5 years, a 90 day waiting period and a cover expiry age of 67; and two units of Death Cover to age 75.
In addition to the standard IP Cover and Death Cover, you also have the option of applying for Lump-sum TPD Cover, which provides a lump-sum benefit to assist you and your family in the event you are totally and permanently disabled and unlikely ever to be able to return to work.
Key features
^We are legally required to show the gross insurance fee; however most members actually pay the net insurance fee, which is up to 15% less than the gross cost.
*If you fix your lump sum TPD cover, your benefit amount will be fixed until you reach age 61 at which point your cover amount will decrease in equal amounts, 10% for each full year until age 70 when cover stops. If applicable, the insurance fee payable will be based on the reduced lump-sum TPD Cover.
If you're a HESTA member, you may be able to transfer insurance cover from other super funds or individual retail policies.
Use the Insurance transfer form (pdf) to apply to transfer existing insurance cover to HESTA.
Where superannuation contributions are low, insurance fees can have a significant impact on the size of an account balance. Supported workers or their Power of Attorney, can cancel or reduce their standard cover through HESTA using the 'Supported workers' form.