Workplace super top 10 for insurance - income protection


Best value insurance for low risk occupational fund members, 90 day waiting period, 2 year benefit period 

  1. This table describes the best overall value deal, where insurance cover is standardised to represent how much $1.00 per week in premiums buys.
Rank Product Name Segment Cover per $1 week
(40yr old)
1 GROW Super Industry $1,813
2 Smartsave 'Members Choice' - Employer Master Trust $1,564
3 Southern State Superannuation Scheme Government $1,526
4 Nationwide Super - Employer Industry $1,444
5 Sunsuper for Life Business Industry $1,367
6 MLC MasterKey Business Super Master $1,363
7 Plum Superannuation Fund Employer Master $1,363
8 Sunsuper for Life - Super-Savings Account Industry $1,346
9 Australian Ethical Retail Super Employer Master Trust $1,337
10 Bendigo SmartStart Super - Employer Master Trust $1,325
  Average (median)    

Note this table describes the value or buying power of your insurance deal for a 40 year old, it does not represent how
much it may cost you based on your personal circumstances. If you are unsure, ask your fund for details.

For details on how SelectingSuper makes sense of insurance, please click here.

This table was last updated in June 2019.

News
Senate secures members' interest changes
20 September 2019, 12:36pm
Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interest First super reforms passed through ... Read more

When comparing super funds and considering what is right for you, look for funds displaying the AAA Quality Assessment and Rainmaker SelectingSuper Award logos.

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