Insurance
Insurance is a group benefit that you receive as an Asgard Employee Super Account holder. As part of your employer group’s super plan, and a result of the minimum insurance requirements under Choice legislation, your employer consults with a financial adviser to set up an insurance plan for the employer group.
Asgard offers two insurance options to help protect your family, your lifestyle and your investments in the event of a personal crisis:
- Basic cover - every member who's employer has chosen Asgard Employee Super as their default fund will have (at least) a basic level of cover which meets (and actually exceeds) the minimum cover that is required to be offered under Choice legislation
- Comprehensive cover - many employers set up a higher level of insurance for their employees, which we refer to as comprehensive cover.
The types of cover available include:
- Life Protection - pays a lump sum if you die or are diagnosed with a terminal illness.
- Life Protection & Total and Permanent Disablement Protection - TPD Protection pays a lump sum if, or when, you become totally and permanently disabled due to sickness or injury.
- Salary Continuance - replaces up to 75% of your monthly income if you become disabled through sickness or injury and are unable to work.
If you’re an employer considering setting up Group Insurance for your employees, we strongly suggest that you speak to your financial adviser.