Insurance explained

Put simply, insurance is lifestyle protection! Illness or injury can mean time out from the workforce and a massive disruption to everyday life. Coping with the stress of the illness and significant unplanned expenses, on top of the regular expenses of everyday living, is enough of a trial for you and your family. All your past budgeting and saving and your financial plans for the future will be wasted if you need to replace your salaried income with precious savings, or even worse, the sale of your family home.

CSRF income protection insurance, called Temporary Salary Continuance or TSC, ensures that if you are temporarily unable to work through illness or injury you can still receive 75% of your salary for a period of up to two years of your disability, after serving the 90-day waiting period. Income replacement at this time is essential to preserve your existing assets and the wealth creation plans for the security of your future. The premiums for this protection will be deducted tax-effectively from your super fund account.

Should your illness or injury be of a permanent nature, your CSRF total and permanent disability cover (TPD), will provide a lump sum payout to help you and your family plan for a future where normal workloads are probably not possible and adjustments need to be made. Death insurance is also a lump sum payout, which helps your family to cope in your absence.

For more detailed information about the Fund's insurance benefits, please refer to the Fund's Product Disclosure Statement.