AMA Financial Services Medical & Associated Professions Superannuation Fund

Insurance cover your way

Benefits of insurance

We all know that insurance is our rainy day cover for when things go wrong, but so often we think "that will never
happen to me". The bad news is that when looking at the statistics, it might just happen and many aren't prepared.

One in five families will be financially impacted by the death of a parent, a serious accident or illness that renders a parent unable to work.¹

66% of those with life insurance don't know how much they have covered for.²

There is an underinsurance gap of $1.1 trillion for working Australians.²

MAP Super gives you and your family peace of mind, we have you covered.

Types of insurance cover

Death cover

Death cover leaves your beneficiaries with a lump sum to help cater for their financial wellbeing in the event of your death. This will give you the peace of mind of knowing that those who depend on you will not be financially disadvantaged with the burden of maintaining current living standards or making loan repayments.

Total and permanent disablement cover

Total and permanent disablement (TPD) cover pays a lump sum should you become totally and permanently disabled through illness or injury and can't work.

Income protection

Income protection can provide you with a safety net if you are unable to work due to sickness or accident. It is designed to help maintain your lifestyle by ensuring your cash flow needs and expenses can continue to be met during a period of absence from work.

When to consider death and TPD cover?	When to consider income protection?
Do you have debts? Do you have dependants? Do you have children from a previous marriage? Do you and your partner both work and need two incomes to maintain your current lifestyle? Do you have dependent parents?	Are you wealthy enough to be able to survive without your income? Could you maintain your current lifestyle on social security (Centrelink) benefits? Will your accumulated sick leave cover you for a long-term illness? Could you maintain your super contributions if you didn't have an income?

MAP Super insurance benefits snapshot

Employer Division	Personal Division
Default cover Death and TPD for $3 per week. Income protection of $2,000 per month (subject to a maximum our replacement ratio of 75% of pre-disability income) with a 90 day waiting period and two year benefit period.	Any insurance cover you had with your account in the Employer Division may continue in the Personal Division when you leave your employer. For further information, refer to the PDS and Insurance Guide.
You can top-up this default cover within 120 days of joining your employer by completing an 'Insurance Application – Top-up Default' form.	To apply for insurance or additional insurance, complete an 'Application for Insurance' form.
Employer negotiated cover Your employer may have negotiated a specific insurance benefit and/or tailored rates, which will apply instead of the default cover above. For more information, please check the Member Schedule sent to you when you first joined MAPSuper.

Employer Division

Personal Division

Default cover

Death and TPD for $3 per week.
Income protection of $2,000 per month (subject to a maximum our replacement ratio of 75% of pre-disability income) with a 90 day waiting period and two year benefit period.

Any insurance cover you had with your account in the Employer Division may continue in the Personal Division when you leave your employer. For further information, refer to the PDS and Insurance Guide.

You can top-up this default cover within 120 days of joining your employer by completing an 'Insurance Application – Top-up Default' form.

To apply for insurance or additional insurance, complete an 'Application for Insurance' form.

Employer negotiated cover

Your employer may have negotiated a specific insurance benefit and/or tailored rates, which will apply instead of the default cover above. For more information, please check the Member Schedule sent to you when you first joined MAPSuper.

Not enough insurance? Customise your cover.

MAP Super allows you to customise your insurance to suit your circumstances at any time. There are three ways to increase or change your cover, outlined below.

customise your super

You can apply for an increase in your cover if one of the following life events occurs:

You marry or divorce.
The birth or adoption of your child.
Your dependent child starts secondary school.
You take out a mortgage to purchase or renovate your primary home.
You can increase your income protection cover if you had a recent salary increase.

To apply for an increase and to check the conditions that apply, please refer to the PDS and the 'Insurance Application – Life Events and Salary Increase ' form.

If you have insurance cover with another super fund or in a retail policy, you may be able to transfer it to your MAP Super account. This cover will be added on top of any existing cover you hold.

To apply to transfer your insurance and to check the conditions that apply, please refer to the PDS and the 'Application for transfer of insurance' form.

You can tailor your insurance by modifying your existing cover or add any new insurance at any time.

Increase your death only cover³
Increase your death and TPD cover
Vary your income protection by changing the options⁴:
- Wait period of 30, 60 or 90 days.
- Disclosure benefit period of two years, five years or to age 65.

To apply for an increase and to check the conditions that apply, please refer to the PDS and the 'Application for Insurance' form.

You should read the insurance guide to confirm your eligibility and conditions of insurance.

For further information and assistance

We recommend that you seek financial advice to assist you with choosing and reviewing your insurance. Alternatively please contact our Client Services Team for assistance.

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1 Source: Lifewise underinsurance report 2010.
2 Source: FSC Metlife Research: Apathy to Action, 2014.
3 The maximum benefit for TPD and terminal illness cover is $5 million, however death cover has no limit.
4 The maximum benefit for income protection is 75 per cent of your declared earned income (plus up to 10 per cent of your declared earned income as a superannuation benefit), not exceeding $30,000 per month.