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Insurance

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Manchester Unity

Insurance

What would happen to you and your family if you were injured or die? When unfortunate events strike they can be devastating for you and your family. With AUST(Q), you have the security of knowing that, if anything was to happen, you will be looked after.

Death, Income Protection and Total & Permanent Disablement Insurance

The Fund provides 24 hours a day insurance cover for Death, Income Protection and Total and Permanent Disablement (TPD) benefits (if applicable) for eligible members. On joining the Fund, eligible AUST(Q) members will automatically be covered for 1 Unit of Death Insurance and Income Protection Insurance cover. TPD Insurance cover is an optional benefit. Members can apply for additional death cover and for TPD cover by completing the Application for Insurance in this booklet. Requests for additional death cover and/or TPD cover are subject to acceptance by our insurer.

Death Benefits

The Table below shows the Death benefits provided by 1 unit of cover:

Age Next Birthday	Default Death Benefit 1 Unit $
up to age 51	$100,000
52	$93,333
53	$86,667
54	$80,000
55	$73,333
56	$66,667
57	$60,000
58	$53,333
59	$46,667
60	$40,000
61	$33,333
62	$26,667
63	$20,000
64	$13,333
65	$6,667
After 65	NIL

Members of AUST(Q) may apply to increase their Death insurance cover up to a maximum of an additional 3 units. Details about the level of cover and costs of additional units of Death cover are contained in the Application for Insurance at the back of the Member Application and Product Disclosure Statement.

Additional Death cover (optional) scale

Members age next birthday	1 Additional Unit ($5 default cover & $1.95) - $6.95	2 Additional Units ( $5 default cover & $3.90) - $8.90	3 Additional Units ($5 default cover & $5.85) - $10.85
Up to age 51	$ 132,500	$ 165,000	$ 197,500
52	$ 125,433	$ 157,533	$ 189,633
53	$ 118,367	$ 150,067	$ 181,767
54	$ 111,300	$ 142,600	$ 173,900
55	$ 104,233	$ 135,133	$ 166,033
56	$ 97,167	$ 127,667	$ 158,167
57	$ 87,450	$ 114,900	$ 142,350
58	$ 77,733	$ 102,133	$ 126,533
59	$ 68,017	$ 89,367	$ 110,717
60	$ 58,300	$ 76,600	$ 94,900
61	$ 48,583	$ 63,833	$ 79,083
62	$ 38,867	$ 51,067	$ 63,267
63	$ 29,150	$ 38,300	$ 47,450
64	$ 19,433	$ 25,533	$ 31,633
65	$ 9,717	$ 12,767	$ 15,817
66	0	0	0

Income Protection Insurance

The Income Protection Insurance premium is calculated by multiplying the Superannuation Guarantee contribution received into the Fund (currently equivalent to 9% of your weekly rate of pay) on your behalf by 12.5%*. The Income Protection Insurance premium is deducted from each employer contribution received.

*Whilst the Superannuation Guarantee rate is 9%.

The following table shows the premium and benefit based on an example of weekly incomes:

Income Protection Benefit payable
Weekly pay	Weekly premium	Weekly income benefit paid to you**	Paid weekly to your AUST(Q) super account
$600	$6.75	$510.00	$45.90
$800	$9.00	$680.00	$61.20
$1,000	$11.25	$850.00	$76.50

** Benefits are paid fortnightly and are taxable.

Additional Total Permanent Disablement (TPD) cover

Members can elect one unit of additional Total and Permanent Disablement cover for a cost of $2.25 per week for the following level of cover:

Members age next birthday	Additional Total and Permanent Disablement (TPD) Cover
Up to age 56	$ 30,000
57	$ 27,000
58	$ 24,000
59	$ 21,000
60	$ 18,000
61	$ 15,000
62	$ 12,000
63	$ 9,000
64	$ 6,000
65	$ 3,000
66 and above	NIL

For more detailed information, please refer to pages 13 – 19 in the Member Handbook and Product Disclosure Statement.