To ensure we continually improve the services we provide to you, we regularly review all our service providers. We recently completed a review of our insurance arrangements and have renewed our policy with our current insurer, TAL Life Limited.
From 1 August 2019, as a result of the review, we will be making some changes to our insurance arrangements. These changes are explained in more detail below.
The improvements we’ve made to Death and TPD and Death Only Cover are focused on how and under what circumstances a claim is paid.
The review, as noted above, considered the suitability of the policy and the impact of the ‘Protecting Your Super Package’ legislation, which was recently introduced by the Federal Government, and has resulted in increased premiums across the super industry. As a result, premiums for Death and TPD Cover and Death Only Cover will increase by 7.7%. Salary Continuance Insurance and Temporary Salary Continuance premiums will increase by 8.3%. We understand this is at the lower end of the increases experienced across the industry.
We pride ourselves on being a value for money fund, so increasing insurance premiums isn’t something we take lightly. Wherever possible, we try to reduce costs for members, like we did in October last year when your Death and TPD and Death Only insurance premiums reduced by 10%.
Your new insurance costs will be applied from 1 August 2019 and will continue to be paid from your EISS Super account each month. Please refer to the rate tables below for the new premiums applicable to each type of cover.
Please note, there is no change to the amount of cover you receive.
You can view your current insurance cover and premiums by logging in to your online account at eisuper.com.au/login. From 1 August this will also show the new cost of your insurance.
More information about the Protecting Your Super Package is available at eisuper.com.au/PYS
If you would like to reduce or cancel either your Default or Voluntary Cover, you will need to complete the ‘Change or Cancel Insurance Cover’ form available at eisuper.com.au/insurance. You can also cancel your Default Cover via your online account.
 For information about the definitions of TPD, please see the Insurance in Your Super document available at eisuper.com.au/pds
 For members over the age of 65, TPD Definition 2 must be satisfied to make a claim.
 Default Income Protection Cover for members who were members of the Electrical Contractors Division prior to 8 December 2013.
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