Most Australians dutifully insure their cars and homes. Far fewer know the details of the insurance that could matter most — the TPD cover sitting quietly inside their superannuation. If illness or injury permanently ends your ability to work, that cover could be worth more than a decade of salary.
Your most valuable asset is your ability to earn
A 35-year-old earning $80,000 a year has approximately $2.4 million in future earning capacity before retirement age. Losing that to permanent disability is the most financially significant event that can happen to most people — yet it's the risk most Australians are least prepared for.
TPD cover exists — and most people have it
The superannuation system includes automatic default TPD cover for most working Australians. This means tens of thousands of dollars — often $100,000–$300,000 — in insurance you're already paying for, sitting in your super fund right now. The premiums are deducted automatically from your balance.
The problem: most don't know what they have
Industry research consistently shows that most Australians cannot name their super fund's insurer, don't know their cover amount, and have never reviewed whether their cover still applies. This means that when the worst happens, many find they have less cover than they need — or discover they have more than they realised.
Review now, not later
The best time to review your TPD cover is before you need it. Check your fund's website, review your annual statement, and make sure your cover hasn't lapsed due to account inactivity. If you're already in the situation where you need it, our free eligibility check is the place to start.