Benefits

Income Protection Insurance cover

Also known as Income Replacement, Disability Income or Salary Continuance. Income Protection will pay a regular income to a person if they are disabled by a sickness or accident. The maximum benefit covered is usually 75% of gross income for a period of 2 years.

Income protection insurance cover is available upon completion of a medical questionnaire and acceptance of cover by the Insurer.

To be eligible to apply for Income Protection Insurance cover the following conditions need to be met:

AMIST Super

Aged more than 14 years and less than 65 years;
Employed by an AMIST Participating Employer on a permanent basis;
The employment contract must be for a period of no less than 12 months, requiring you to perform identifiable duties for a regular number of hours each week and provide for annual leave, sick leave and long service leave.

AMIST Super Personal Division

Aged more than 14 years and less than 65 years,
Either:
Employed on a permanent basis as defined by the insurer; or
Employed for at least 15 hours per week.

How much Income Protection Cover is provided?

If you are accepted for Income Protection cover, the maximum benefit payable will be the lower of:

75% of your average monthly income (before bonuses) for the last twelve consecutive months; or
$10,000 per month

How much does Income Protection Cover cost?

The cost of income protection insurance cover depends on the premium rate that applies for your gender, age, occupation (Group 1, 2 or 3) and the waiting period you choose. The waiting period refers to the amount of time you are unable to work before you are entitled to claim; you have a choice between 30, 60 and 90 days.

To work out the monthly premium for your age and job tasks, refer to the premium rate tables below. Occupations are categorised in 3 groups:

Group 1 Insured members who perform only non-manual duties and work at least 75% of the time in an office environment and have done so for the last 12 months.

Group 2 Insured members who do not qualify as Group 1 or Group 3 members. There may be some hazardous occupations for which cover will not be offered. This will be assessed on a case by case basis by the insurer.

Group 3 Insured members who work in the meat industry in an occupation that the insurer considers as “high risk” such as:

Abattoir workers;
Butcher/meat worker within an abattoir;
Butcher/meat worker – cold store/ process worker;
Butcher/meat worker – packer; and
Slaughterer or any other similar occupation within the meat industry.

Click the options below to download the Income Protection Insurance Tables (PDF Docs).

AMIST Super Income Protection Insurance
Employer Sponsored Division Download
Personal Division Download

Look up your age last birthday in the left hand column and then multiply the corresponding figure in the next columns for the waiting period and number of units of income protection insurance cover you want. The premium in the tables shows the annual premium per unit of cover. The cost of cover is deducted monthly from your member account.

When is an Income Protection benefit payable?

In order to be entitled to a benefit you will need to:

have been unable to work due to illness or incapacity for at least the nominated waiting period; and,
meet the definition of “totally disabled” under the insurance policy in the opinion of the Trustee and insurer or
be entitled to a partial payment, where in the opinion of the Trustee and the Insurer you meet the definition of “partially disabled” under the Insurance Policy.

Payment will be made monthly in arrears once the Insurer has accepted
the claim.

For more detail about AMIST Super Life Insurance Cover please refer to the relevant Product Disclosure Statement which can be obtained by contacting the AMIST Super Hotline on 1800 808 614 8am-8pm EST.

To download a copy of the AMIST Super Product Disclosure Statement click here.