News & Views

When most people buy a house or a car, they will take out insurance to protect that asset. But what would happen if an illness or injury prevented you from earning a future income. How would you be able to pay your bills or, if you have purchased a house, pay your mortgage? It may be possible to get by for some time with sick leave, savings, workers compensation (if you have a workplace accident), or the help of family and friends, but reliance on these in the long-term is difficult.

We hope you never have to make a claim, but we provide insurance at NESS Super to provide you with peace of mind and income if you need it. A common misconception is that workers compensation will provide income if you have a workplace injury or illness. However, what happens if the injury or illness happens away from work. The insurance we offer at NESS Super provides you with cover 24 hours a day, 7 days a week, irrespective of whether you are at work.

Do you know how much cover you need? Depending on your circumstances, the Default Death, Terminal Illness (TI) Total & Permanent Disablement (TPD) and Income Protection (IP) cover may or may not be the right amount of cover for you. In working out the level of insurance you need you may want to think about what you need now and into the future to cover:

• your current living expenses
• your debts – mortgages, car loans, credit card
• future costs that you may see coming (e.g. school education for your children and those who you support financially).

As a guide, we recommend using the Government’s Moneysmart Life Insurance Calculator to work out what you need.  If you find the automatic insurance that we provide is not enough, you have the option of changing your cover to an amount that suits your circumstances.

You can also contact our Member Services Team on 1300 361 099, or email us at memberservices@neca.asn.au

Disclaimer: The information contained in this newsletter is up-to-date at the time of its publication.  However, some information can change over time. The contents are for general information only and does not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions.

NESS Super Pty Ltd ABN 28 003 156 812 AFSL 238945, as trustee of NESS Super ABN 72 229 227 691.