Income Protection Insurance
Facts
Income Protection is a type of insurance that could replace up to 75% of your pay if you become sick or injured and can’t work – helping to protect you and your family from financial hardship while you recover. AMIST Super members automatically receive this insurance with no questions asked.
Increase your cover form available here (PDF - 79KB)
Member Guide with more information available here (PDF - 4MB)
How it works
It’s an automatic benefit for all eligible AMIST Super members under age 70 and you’re covered anywhere anytime.
Unlike most insurance policies, you are covered with no questions asked even if you have a pre-existing sickness.
Standard cover is 4 units, at a cost of $3.00 per week for manual workers1 or $2.12 per week if you work in an office2. Under this standard cover, you can claim up to 75% of your pay or up to $2,000 per month (whichever is less) if you become sick or injured and are unable to work.
If you earn more than $32,000 per year you also have the option to increase your level of cover. And if you do so within 60 days of joining the fund, the increased benefit will be automatically approved including cover for a pre-existing sickness. Benefits are limited to 75% of your normal average income earned from employment during the 52 weeks prior to the last pay period before any injury or sickness resulting in a claim under the Policy.
The Income Protection benefit is payable for up to 2 years unless you are able to return to work sooner or until you turn 65, whichever happens first. If you are aged between 65 and 70 years, the benefit payment is payable for up to 52 weeks for injury or 12 weeks for sickness or the date you turn 70 (whichever occurs first). Benefits commence after only a 30 (calendar) day waiting period.
What do you need to do now?
If you’re a manual worker1 and you’re happy with the standard 4 units of cover, you don’t have to do anything. Your cover will start automatically.
If you’re an officer worker2 and you’re happy with the standard 4 units of cover, please complete the "Application to Change Income Protection Insurance Cover" form (PDF page 50, 4Mb) and send it back to us. Otherwise, we will assume you are a manual worker. Either way, your cover will automatically start.
If you want to increase your level of cover, please complete the "Application to Change Income Protection Insurance Cover" form (PDF page 50, 4Mb) and send it back to us.
If you don’t want Income Protection Insurance you will need to advise us in writing, specifying that you do not wish to be covered for Income Protection Insurance. Please ensure that you sign the letter.
This is exclusive to AMIST Super members
This Income Protection Insurance is exclusive to AMIST Super. It is a great opportunity to give you and your family genuine peace of mind. For full details of this Income Protection Policy, please refer to the Member Guide, visit our website at www.amist.com.au or call the AMIST Super Hotline on 1800 808 614.
1. A manual worker is a member who is employed to perform manual and or physical duties in an abattoir, processing plant, butcher’s shop or similar environment.
2. An office worker is a member who performs only non-manual duties and works at least 75% of the time in an office environment and has done so for the last 12 months. Office workers pay a lower premium because they are less likely to be injured while working.