Protect Your Future with Uni Super Insurance – Comprehensive Coverage for Peace of Mind

As a university employee or student in Australia, you may have heard about UniSuper, the industry super fund dedicated to higher education and research professionals. But did you know that UniSuper also offers a range of insurance options to protect you and your loved ones financially in case of unexpected events? In this article, we’ll explore UniSuper’s insurance offerings and how they can benefit you.

UniSuper Insurance: Who Provides Coverage?

UniSuper provides insurance to its members through several insurers. The type and level of coverage depend on the member’s occupation and the UniSuper division they belong to. Here is a breakdown of the insurance providers for each division:

Defined Benefit Division

• TAL Life Limited provides Death and Total & Permanent Disablement (TPD) insurance.
• Swiss Re Life & Health Australia Limited provides Salary Continuance (SC) insurance.

Accumulation 2 Division

• TAL Life Limited provides Death, TPD, and SC insurance.

Personal Account Division

• TAL Life Limited provides Death, TPD, and SC insurance.
• MetLife Insurance Limited provides Death and TPD insurance for members who joined UniSuper before 1 July 2014.

It is important to note that the insurance coverage and premiums can vary depending on the member’s age, occupation, and health status. UniSuper recommends that members review their insurance needs regularly and consider seeking professional financial advice.

UniSuper also offers a range of insurance calculators and tools on their website to help members understand their insurance needs and options.

Insuring Your Future: The Pros and Cons of Getting Insurance through Super

When it comes to insurance, there are different options available to people. One of the ways to get insured is through superannuation. Uni Super Insurance provides members with insurance coverage that can help protect them and their families financially in case of unexpected events such as death or disability. However, there are pros and cons to consider before deciding to get insurance through super.

Pros of Getting Insurance through Super

• Convenience: One of the advantages of getting insurance through super is convenience. Insurance premiums are deducted automatically from the super account, which means that members do not have to worry about paying for insurance separately.
• Cost-effective: Insurance through super can be cost-effective because super funds can negotiate lower premiums due to the large number of members they have. Also, insurance premiums are paid using pre-tax money, which means that members can save money on taxes.
• No medical checks: Unlike other types of insurance, insurance through super does not require medical checks, which can be an advantage for people with pre-existing medical conditions.
• Coverage: Insurance through super can provide members with a level of coverage that they may not be able to afford if they were to purchase insurance separately.

Cons of Getting Insurance through Super

• Less control: When getting insurance through super, members may have less control over the type and level of coverage they get. Super funds usually offer a limited number of insurance options, which may not suit everyone’s needs.
• Reduced super balance: Insurance premiums are deducted from the super account, which can reduce the balance and affect the amount of money members will have in retirement.
• Policy ownership: The ownership of the insurance policy is with the super fund, not with the member. This means that if a member switches super funds, they may have to reapply for insurance coverage.
• Limitations: Insurance through super can have limitations, such as exclusions for pre-existing medical conditions or restrictions on the type and amount of coverage.

Overall, getting insurance through super can be a good option for some people, but it is important to weigh the pros and cons and consider individual circumstances before making a decision.

Contacting UniSuper Insurance: A Quick and Easy Guide

UniSuper Insurance is a leading provider of insurance products for employees of universities and other higher education institutions in Australia. If you are a member of UniSuper and have questions or concerns about your insurance coverage, there are several ways to contact UniSuper Insurance for assistance. In this guide, we will walk you through the different ways to get in touch with UniSuper Insurance and provide some tips for making the process as quick and easy as possible.

Call UniSuper Insurance

If you need immediate assistance, the best way to get in touch with UniSuper Insurance is to call their customer service team at 1300 491 536. UniSuper Insurance’s customer service team is available Monday to Friday, from 8:30 am to 6:00 pm (AEST), to answer your questions and help you with your insurance needs.

Send an Email

If you prefer to communicate via email, you can send a message to UniSuper Insurance at insuranceteam@unisuper.com.au. When you send an email to UniSuper Insurance, make sure you include your full name, UniSuper member number, and a detailed description of your question or concern. UniSuper Insurance’s customer service team will respond to your email as soon as possible, typically within 2 business days.

Use the Online Contact Form

If you would like to contact UniSuper Insurance online, you can use the contact form available on their website. To access the contact form, go to the UniSuper Insurance website and click on the “Contact Us” link. Fill out the form with your name, email address, phone number, UniSuper member number, and a detailed description of your question or concern. UniSuper Insurance’s customer service team will respond to your message as soon as possible, typically within 2 business days.

Visit a UniSuper Office

If you prefer to speak with someone in person, you can visit one of the UniSuper offices located throughout Australia. To find a UniSuper office near you, go to the UniSuper website and click on the “Contact Us” link. From there, you can enter your postcode or suburb to find the nearest office. It’s important to note that UniSuper offices are currently closed due to COVID-19 restrictions, so it’s best to call ahead before visiting an office.

Tips for Contacting UniSuper Insurance

• Have your UniSuper member number ready: When you contact UniSuper Insurance, make sure you have your member number handy. This will help UniSuper Insurance quickly locate your account and provide you with more personalized assistance.
• Be clear and concise: When you contact UniSuper Insurance, be as clear and concise as possible. Provide a detailed description of your question or concern, and avoid including irrelevant information that could make it harder for UniSuper Insurance to understand your needs.
• Be patient: UniSuper Insurance’s customer service team is committed to providing you with the best possible service. However, they may be dealing with a high volume of inquiries and may need some time to get back to you. If you don’t hear back from UniSuper Insurance within a few days, don’t hesitate to follow up with another call or email.

Fixed or Unitised Insurance: Which One is the Best for You?

Uni super insurance offers two main types of insurance: fixed insurance and unitised insurance. Choosing the right type of insurance can be a challenge, as both have their advantages and disadvantages. In this article, we will discuss the differences between these two types of insurance and help you decide which one is the best for you.

Fixed Insurance

What is fixed insurance?

Fixed insurance is a type of insurance where your premiums are invested in a fixed interest account. This means that the value of your policy is not influenced by market fluctuations. The amount of cover you have remains the same for the duration of the policy.

Advantages of fixed insurance

• Your premiums are invested in a secure, low-risk account
• You have a guaranteed amount of cover for the duration of the policy
• You have a predictable premium amount that remains the same

Disadvantages of fixed insurance

• Your premiums may be higher than unitised insurance
• You may miss out on potential higher returns from market fluctuations
• Your policy may not keep up with inflation

Unitised Insurance

What is unitised insurance?

Unitised insurance is a type of insurance where your premiums are invested in a range of assets, such as shares, property, and bonds. The value of your policy is influenced by market fluctuations, and the amount of cover you have may increase or decrease over time.

Advantages of unitised insurance

• Your premiums may be lower than fixed insurance
• You have the potential for higher returns from market fluctuations
• Your policy may keep up with inflation

Disadvantages of unitised insurance

• Your premiums may be unpredictable and may change over time
• The value of your policy may decrease due to market fluctuations
• You may be exposed to higher risk investments

Which One is the Best for You?

Choosing between fixed and unitised insurance depends on your personal circumstances and your risk tolerance. If you prefer a predictable premium amount and a guaranteed amount of cover, then fixed insurance may be the best option for you. However, if you are comfortable with potential market fluctuations and want the potential for higher returns, then unitised insurance may be a better option.

It’s important to consider your financial goals and needs before making a decision. It’s also a good idea to seek professional advice from an insurance expert or financial advisor to help you make an informed decision.

Before we wrap up, here is one final tip to keep in mind when considering Uni Super insurance. Make sure to review your policy regularly to ensure it still meets your needs and that you have adequate coverage. Life changes such as a new job, marriage, or children can affect your insurance needs, so it’s important to have a policy that reflects these changes. Remember, insurance is a valuable tool that can provide peace of mind and financial security for you and your loved ones. Thank you for reading, and feel free to contact us if you have any further questions or concerns.