Issued ₁ July ₂₀₁₅. Insurance Guide. SignatureSuper AIA fact sheet. AMP Corporate Super Registered trademark of AMP Life Limited ABN

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1 Issued ₁ July ₂₀₁₅ Insurance Guide SignatureSuper AIA fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN

2 The information in this document forms part of the product disclosure statement for SignatureSuper dated 1 July 2015 (PDS). To understand how SignatureSuper works, read the PDS, fact sheets and your plan summary. Contents Insurance by AIA Australia Limited Details of insurance cover Other insurance information Insurance premiums Understanding superannuation terms This is a fact sheet for SignatureSuper. The fact sheets and plan summary are important documents. You should read them with the applicable product disclosure statement to understand how SignatureSuper works. Information in this document may change from time to time. We may update information which is not materially adverse to you and make it available at amp.com.au/pdsupdates. A paper copy of the update can also be obtained (at no charge) by calling us (details at the end of this document) or from your financial adviser. The information provided in this document is general information only and does not take into account your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances. If you would like advice on your insurance cover in this super product, contributions to your account or investment options, you can call us on A fee will not be charged for this once-off intrafund advice. If you would like to obtain other financial advice, ongoing financial advice or other information about your account, you should speak to a financial adviser. SignatureSuper is part of the AMP Superannuation Savings Trust. AMP Superannuation Limited is the trustee and is referred to as ASL, trustee, we or us in this document. No other company in the AMP group of companies or any of the investment managers of the investment options or the insurer named in this document: is responsible for any statements or representations made in this document guarantees the performance of ASL s obligations to members, or assumes any liability to members in connection with this product. Except as expressly disclosed in the PDS or a fact sheet: investments in the investment options are not deposits or liabilities of ASL, AMP Bank Limited ABN (AMP Bank), any other member of the AMP group or any of the investment managers no person guarantees the performance of this super product or any of the investment options, any particular rate of return or the repayment of capital. The trustee may enter into financial or other transactions with related bodies corporate in relation to this product. That related body corporate may be entitled to earn fees, profits, reimbursements or expenses or other benefits in relation to any such appointment or transaction and to retain them for its own account. SignatureSuper is managed and administered in accordance with the PDS, fact sheets and your plan summary. We may change the way SignatureSuper is managed and administered at any time with, in the case of an increase in fees, at least 30 days notice. Otherwise, notice will be provided before or as soon as practicable after the change occurs. This offer is available only to persons receiving (including electronically) the PDS, plan summary and fact sheets within Australia. Issued by AMP Superannuation Limited ABN , AFSL No , RSE Licence No. L , the trustee of the AMP Superannuation Savings Trust ABN You will receive a plan summary booklet with your welcome letter, which describes the benefits and features specific to your membership of SignatureSuper. Some employers may have a tailored MySuper arrangement. Your plan summary will contain information on these arrangements that are specific to your plan. It may also note that some benefits and features in the fact sheets may not apply to you. You or your family member may also request a copy by contacting the Customer Service centre on

3 Section ₁ : Insurance by AIA Australia Limited In this section you will find information about how insurance works in your plan: Types of cover available and eligibility Employee members' insurance cover Default cover and automatic acceptance limits (AAL), when does cover start and stop, applying for additional cover Family members' insurance cover

4 Welcome to SignatureSuper, a product from AMP Corporate Super. It's designed to provide you with comprehensive super benefits for your retirement and insurance protection for you and your family s peace of mind. Benefits of insurance with SignatureSuper Including insurance cover in your super account can be a tax-effective way of financially protecting you and your family should you die or become disabled. SignatureSuper has insurance cover designed for you as an employee and negotiated by your employer while also offering advantages of cover for your family. It means you can: have insurance premiums deducted from your SignatureSuper account (if not paid for by your SignatureSuper employer) apply for additional insurance cover to meet your personal goals have interim accident cover while you wait for any applications for cover to be assessed view your current insurance cover online at any time using My Portfolio, and access your insurance on the move with the new AMP mobile app. Download this today from the Apple App Store (Apple) 1 or Google Play TM Store (Android TM ) 2. Employee members may also have the advantage of: corporate insurance premium rates which are generally cheaper than personal premium rates, and not having to provide evidence of health, through automatic acceptance limits (AAL) where eligible. You should talk to a financial adviser to consider your insurance needs and the best way to meet them. What insurance cover is available The type and amount of insurance cover we provide will depend on a range of factors including, for employee members, the category of membership you join in your employer s plan and your employment status. Family members may be able to apply for insurance cover under SignatureSuper, however Temporary Disability cover will not be available to them. Your employer selects what cover to offer in the plan and, where it has been agreed to with the insurer and us, your SignatureSuper plan may offer you: Death cover (including terminal illness benefit), Death and Total and Permanent Disablement (TPD) cover, Death and Temporary Disability cover, Death and TPD and Temporary Disability cover. Your member statements and the insurer's policy document may refer to group salary continuance (GSC), salary continuance insurance (SCI), temporary salary continuance (TSC) or group income protection (GIP). For the purpose of this fact sheet we will refer to these as Temporary Disability cover. See the details of cover section for further information on each type of cover. Please refer to your plan summary or your latest member statement to confirm the insurance cover that applies to you. Your insurer Where stated in your plan summary AIA Australia Limited ABN AFSL No (the insurer) provides insurance cover for your SignatureSuper plan. Insurer consent AIA Australia Limited: has given and not withdrawn its consent in relation to being named in this document, and has not issued or caused the issue of this document. 1 Apple is a trademark of Apple Inc. 2 Google Play and Android are trademarks of Google Inc. 4

5 Policy documents The insurance cover in your SignatureSuper plan is provided under policies of insurance issued to the trustee by the insurer. In all cases, insurance cover for a member is subject to the terms and conditions of the insurance policies issued by the insurer. In the event of any inconsistency between the terms and conditions of the insurance policies and this document, the PDS or your plan summary, the terms and conditions of the insurance policies prevail. Eligibility for insurance Generally you are eligible for cover as an Employee member if you meet each of the following criteria: You meet the eligibility conditions agreed between the trustee and the insurer, You are at work (see insurance definitions) and performing the normal duties and hours of your occupation on the date you are eligible for cover, You are employed by a SignatureSuper employer or a member of the SignatureSuper plan, You are an Australian citizen or Australian resident at the time you are accepted for cover (unless otherwise agreed to in writing by the insurer) or you hold a Visa which enables you to work in Australia. Temporary Disability cover is only available to employee members working for the SignatureSuper employer as a permanent, contractor, or casual employee (see insurance definitions) and is not available to family members. Eligibility for insurance cover is determined by the insurance policy, with details provided in your plan summary. Employee members' insurance cover Standard insurance cover Standard cover refers to the way Death and TPD cover amounts are calculated and usually consists of a formula. Your SignatureSuper employer has decided on the standard cover formula that applies to your membership category and this is shown in your plan summary. The value of your standard cover is calculated: when you join your employer plan, at your most recent annual review, when you change your multiple of the standard cover, on your death, or on the last day of work if you are making a TPD claim. Default insurance cover Default insurance cover is the cover amount normally provided to employee members automatically when you join your SignatureSuper employer plan (subject to you qualifying for automatic cover and acceptance by the insurer where your cover exceeds the automatic acceptance limit (AAL) see details of insurance cover section). Default insurance cover amount is generally equal to, or a multiple of, the standard cover formula and is selected by your SignatureSuper employer. The amount of default insurance cover that applies to you in your membership category is shown on your plan summary. Please note: If your SignatureSuper employer plan has transferred from another insurer, then you should read the takeover terms for insurance section. 5

6 How standard cover and default cover are calculated Example John is an employee member of the XYZ plan. John has a salary of $50,000. The standard cover formula selected by the employer for the XYZ Plan is three times salary. The default cover multiple selected by the employer for the XYZ plan is two times the standard cover. Standard cover = $150,000 (ie 3 x $50,000). Default cover = $300,000 (ie 2 x $150,000). John s insurance cover will be equal to the default cover of $300,000. Please note: The above example is an illustration only and is based on the factors given. The example should not be taken as the actual amount of standard and default cover you will receive. Can I change the default cover? Yes, you can opt out of cover altogether, or if you wish, you may decrease your units of cover or cancel any default TPD cover simply by writing to the trustee. TPD cover cannot be greater than your Death cover nor can you have TPD only cover. If you need to change your insurance cover please contact us. What happens if your salary changes? If your insurance cover is based on your salary then updates to your salary could change your cover amounts. Your plan summary will state when these updates will take effect. It will occur either on your plan's next annual review date or at intervals between annual reviews. If your cover is not recalculated at intervals between annual reviews then your cover will not change (even if your salary changes) until the next annual review. If your cover does increase when it is recalculated because of a salary increase and still remains below your plan's AAL, no underwriting will be required. Where your salary increase results in your cover exceeding your plan s AAL then you will be required to be underwritten by providing information about your health. Minimum Death & TPD cover Where your SignatureSuper employer has nominated SignatureSuper as the default fund for employer contributions, there are minimum requirements for Death and TPD cover set by the government. If the insurer has agreed to provide insurance for your SignatureSuper employer plan and provided you meet the insurance eligibility requirements, you will have Death and TPD cover according to the default arrangements for your SignatureSuper employer plan except where these default arrangements do not meet the minimum requirements. We will continue to check each year at your SignatureSuper employer plan s annual review date to ensure your Death and TPD cover at least equals the minimum cover described below. Any change to the amount of your insured cover may also affect your insurance premiums. Age range and over Minimum ($) 50,000 35,000 20,000 14,000 7,000 Nil 6

7 Will you need to provide details of health? You will not need to provide information about your health if: an AAL applies to your SignatureSuper plan (or membership category), and the total cover required does not exceed the AAL for your plan (or membership category), and you meet all the eligibility conditions for obtaining AAL cover. If you do not meet all of these conditions, you will need to apply for cover and provide details of your health. The insurer may consider your medical history, your likely future good health, your occupation, lifestyle and family history before deciding whether to accept your application. Depending on the evidence supplied, insurance cover may be accepted or refused, or special limits, conditions or premium rate loadings may be imposed. Additional insurance cover If your SignatureSuper plan provides Death or Death and TPD cover, you may be able to apply to increase your cover. The SignatureSuper employer and the trustee will have agreed if your category in the plan allows for additional insurance cover. Check your plan summary to see if additional insurance cover may be applied for. How much insurance cover do you need? The level of insurance cover you need will depend on your own personal circumstances and your needs to provide for your family and/or other beneficiaries. We recommend you seek financial advice to ensure you have cover appropriate to your circumstances. How do you apply for additional cover? Where additional cover is available, simply complete the applicable additional insurance cover form available by calling us (see contact details on the back cover). You can apply at any time. We will advise you in writing if you are required to provide evidence of health. Will you need to provide details of health? Any increases in Death or TPD insurance cover allowed under the SignatureSuper plan rules as voluntary insurance cover will be subject to the insurer s acceptance following the provision of evidence of insurability the extent of which is at the discretion of the insurer. The insurer reserves the right to offer modified acceptance terms or decline applications for such voluntary increases in cover. Life Stages flexibility Upon the occurrence of a life stage event, you may apply for an increase in your Death and TPD cover without the usual requirement of providing evidence of insurability. A life stage event is: your marriage, the birth or adoption of a child, your divorce, your child attaining 12 years of age, you reach age 30, or you entering into a mortgage. 3 The ability to apply for voluntary insurance cover as a result of a life stage event is subject to all of the following: you must be at work (see insurance definitions) on the date the insurer accepts the life stage application, otherwise new events cover (see insurance definitions) will apply to the increased portion of cover for the first 12 months after which you must be at work for 30 consecutive days to receive full cover, the life stage event must have occurred while you are insured under the SignatureSuper plan and be in relation to you, relevant documentary proof of the event (eg marriage certificate, birth/adoption certificate, mortgage documentation) must be provided for consideration to the insurer within 60 days of the life stage event, the amount of cover you apply for is limited to the lesser of 25% of your existing insurance cover and $200,000 3 Effecting a mortgage on the purchase of a home or increasing an existing mortgage, for the purposes of building or renovation works, on your principal place of residence with a registered mortgage provider. 7

8 your existing insurance cover must have been accepted on standard terms, whether or not under automatic acceptance provisions, and you must not have previously been declined for life insurance cover with the insurer or any other life insurance company, you must be under age 60 at the time of exercising this option, you must not have made a claim or be eligible to make a claim under this policy, or any other insurance policy on your life, a maximum of one increase in any 12 month period applies, subject to a maximum of three increases under this policy, suicide exclusions will apply to any increase during the first 13 months from the date the insurer agrees to any increase, and in respect to TPD cover, a self-inflicted injury exclusion will apply to any increase during the first 13 months from the date the insurer agrees to any increase. When will your additional cover commence? If your application is accepted, we will write to you to confirm the increase in cover and the premium rate that will apply. The additional cover will commence from the date the insurer accepts your application. Until then, your current level of cover (if any) will apply. Commencing cover - Automatic Acceptance Limit (AAL) The insurer can generally provide an AAL for Employee members up to certain limits. Please see your plan summary for any AAL which applies. This means that even if you can t get cover under a personal insurance policy because of your health or your leisure activities, you may still be able to get cover under your SignatureSuper plan, without having to provide information about your health. Cover up to the AAL will be provided without evidence of health if you meet the eligibility conditions. The AAL is subject to all of the following: you are between the ages of 15 and 64 at date of entry, at least 75% of eligible Employee members are insured under the policy, you join the plan on the date you first meet the eligibility requirements, your default insurance cover is calculated in accordance with the plan rules and the policy, this is the default super fund in relation to your SignatureSuper employer, and the eligibility criteria ensures there is no ability for a person to choose to have a type of cover which is not consistent with the benefit design. You must be at work (see insurance definitions) on the date you first meet the eligibility requirements, otherwise new events cover (see insurance definitions) applies until you are at work for 30 consecutive days, at which point full cover will be provided. This requirement applies to all types of cover including Death, TPD, Terminal Illness cover and/or Temporary Disability. Your cover will require underwriting where you do not meet the above eligibility conditions. Cover will automatically change in line with the formula for your category of membership. Any automatic increases will occur up to the AAL after which underwriting will be required. For plans with less than 50 lives, any increases will be limited to a maximum of 30% in total within a given 12 month period. What if an AAL doesn t apply? If your plan doesn't have an AAL, or you do not qualify, you will need to apply for cover and provide evidence of insurability including details of your health. Depending on the evidence supplied, insurance cover may be refused or accepted subject to conditions, or accepted with special limits, or premium rate loadings imposed. While you are waiting for your application to be assessed you may have Interim Accident cover (see Interim Accident cover section). 8

9 When does insurance cover start and cease? Cover (if applicable) starts from when you join SignatureSuper, subject to eligibility conditions, even if you haven t contributed to your plan and the insurer has agreed in writing to accept the cover. When we receive a contribution we will deduct the costs of your cover calculated from the date it started. If we don t receive an employer super guarantee contribution within 60 days of your membership starting, we may cancel your cover (but only after we have advised you). Your cover as an Employee member stops in the plan on the earliest of the following: you reach the cover expiry age as set out in the insurance policy, for Death and TPD cover, a Death, Terminal Illness or TPD benefit is paid to you 4, you die, the insurance policy is terminated, 60 days have passed since you cease to be an employee with the SignatureSuper employer, 60 days have passed since you cease to be eligible under the policy, 60 days after premium payments cease in respect of you, the insurer accepts or declines your application for a continuation option, you no longer meet the conditions for continuation of cover during leave without pay or continuation of cover during overseas cover. the date you are no longer an Australian permanent resident, you are no longer permanently in Australia, or no longer eligible to work in Australia, 120 days after your last Superannuation Guarantee contribution is paid to the plan, you cancel your cover in writing, your SignatureSuper employer or participant terminates the plan s cover. See leaving the SignatureSuper Employer plan in your plan summary or member guide fact sheet for details of insurance when you leave. Family members' insurance cover If offered, family members (see general definitions) can apply for insurance cover in a SignatureSuper Employer plan at any time (if provided for and agreed by the SignatureSuper employer and us), subject to underwriting and acceptance by the insurer. Your plan summary details if family member insurance cover is available in your SignatureSuper Employer plan. All terms, conditions and definitions relating to family member insurance cover are subject to the insurance policy for your SignatureSuper plan. If you are a family member and your application for cover is accepted, we will write to you to confirm your cover and the premium rate that will apply. Depending on the evidence supplied for underwriting, your application for insurance cover or additional cover may be refused, or may be accepted subject to conditions, or accepted with special limits, or premium rate loadings imposed. Your cover will commence from the date that the insurer accepts your application. How to apply for Family member insurance If offered, you can apply for insurance at the time you apply to become a family member of the plan or later (see your member guide fact sheet). If you are an existing family member, you can apply to add insurance to your family member account. Contact AMP Corporate Super Customer Service and we will send you the relevant application form. 4 Where Death cover is held with TPD cover, payment of the TPD benefit will reduce your Death cover by the amount of the TPD payment. The reduced Death cover (if any) will be frozen and subsequently payable upon your death or Terminal Illness prior to the cover expiry age and subject to the continued payment of premiums for your reduced Death cover. 9

10 Section ₂ : Details of insurance cover In this section we discuss the following types of insurance cover in detail including maximum amounts of cover, when is a benefit paid and what happens and any exclusions applied by the insurer: Death cover Including Terminal Illness cover Total and Permanent Disability (TPD) cover Temporary Disability cover Information about how total or partial disability works, waiting and benefit periods, what offsets may be applied and when payments would stop. Interim Accident cover

11 Death cover Death cover is a lump-sum amount, paid in addition to your super account balance if you die while an insured member of the plan and automatically includes the Terminal Illness benefit. Maximum amount of Death cover There is generally no set maximum for Death cover (including Terminal Illness), but applications are subject to the insurer s approval before cover can commence. The amount of Death cover applicable to you is set out in your plan summary. What happens if you die? Information on how you can nominate a beneficiary and how death benefits are paid is available in the section nominating your beneficiaries in the member guide fact sheet. Members under age 18 are not able to nominate beneficiaries and therefore no nomination provisions will apply. If you die while you are an insured member of SignatureSuper, your Death cover will be paid (in addition to your super account balance) as part of your death benefit. What is the Terminal Illness benefit and when is it paid? The Terminal Illness benefit is an early payment of Death cover if you suffer a terminal illness (see insurance definitions) and is included automatically with Death cover. The insurer will pay the Terminal Illness benefit to your account if it determines that you are likely to die within 12 months because of an illness regardless of any treatment that may be undertaken. Your Death and TPD cover (where applicable) will be reduced by the amount of any benefit paid. The benefit amount paid to you will be calculated on the date you are certified as suffering from a terminal illness. If your Death cover commenced prior to 1 July 2014 and you have continuously held Death cover since, you should note that the trustee can only pay the Terminal Illness benefit in accordance with the super rules. These rules mean there may be some instances where the trustee will not be able to pay a Terminal Illness benefit directly to you. The insurer will pay it to your super account if you do not satisfy a terminal medical condition of release (see accessing your super in the member guide fact sheet). Total and Permanent Disablement (TPD) cover TPD cover is a lump sum amount paid if you become totally and permanently disabled (see insurance definitions) while you are insured for TPD with your SignatureSuper plan. It is only available with Death cover, and cannot be for an amount greater than Death cover. Generally, the definitions of TPD referred to in this fact sheet will apply. Sometimes another definition of TPD may apply. Your plan summary will advise if another TPD definition applies to you. Where TPD cover is offered to family members the cover amount will automatically reduce from the your 61st birthday to be nil at the cover expiry age. For Employee members, in most cases the TPD insurance arrangement for your plan will automatically make your TPD cover reduce as you get older. But if this is not the case (eg if your TPD cover is defined as a fixed dollar amount or a fixed multiple of salary), we will generally reduce your TPD cover by a percentage each year from your 61st birthday or from the retirement age for your category of membership. This also applies to voluntary cover. Details will be described in your plan summary. Maximum amount of TPD cover TPD cover is limited to the lesser of your level of Death cover and a maximum of $5 million. From age 65 the maximum TPD cover will reduce to $3 million. 11

12 What happens if you become Totally and Permanently Disabled? If you have TPD cover, you become totally and permanently disabled, and the insurer accepts your claim, the insurer will pay a lump sum amount to your SignatureSuper account. If a TPD benefit is payable: The insurer will pay it to your account if you qualify as being totally and permanently disabled. Your Death cover will be reduced by the amount of the TPD benefit made. The reduced Death cover (if any) will be frozen and subsequently payable upon your death prior to the cover expiry age and subject to continued payment of premiums. If you are a defined benefit member, your TPD cover may form part of an overall formula benefit. Exclusions for Death and TPD No benefits are payable under for Death and TPD cover (or Death Only, where applicable), which is caused wholly or partly, directly or indirectly by any of the following: Declared war or any act of war. Active service in the armed forces of any country or international organisation. 1 In the case of Voluntary Death cover, increase or reinstatement of Voluntary Death cover, death by suicide within 13 months of commencing any Voluntary cover, increase in Voluntary cover or reinstatement of any cover. In the case of Voluntary TPD cover, increase or reinstatement of cover (including Terminal Illness), any deliberate self-inflicted injury/sickness or attempted suicide or self-destruction while either sane or insane within 13 months of commencing any Voluntary cover, increase in Voluntary cover or reinstatement of any cover. Any other exclusions imposed by the insurer on you. Temporary Disability cover Temporary Disability cover is an income replacement amount paid to you monthly if you meet the definition of total disability or partial disability (see insurance definitions) while insured for temporary disability with your SignatureSuper plan. The definition of total disability varies depending on the number of hours you work per week. Your SignatureSuper employer has selected whether Temporary Disability cover applies to your membership category. If Temporary Disability cover applies to you, your SignatureSuper employer has also selected: the percentage of your income payable as Temporary Disability cover, the waiting period, and the benefit period. Please note: see your plan summary for any details of Temporary Disability that may apply to you. Your benefit period A benefit period is the maximum length of time for which monthly benefits will be paid for any one period of being totally disabled, or if applicable, any one period of being partially disabled. SignatureSuper offers a benefit period of either: up to two years, or up to age 65. If you are a contractor employed on a minimum contract period of 12 months or less or are a casual and are covered under this plan, the benefit period will be limited to two years. 1 In the case of your enrolment in the Australian Army Reserve, this exclusion is only applicable where you are called up for active service. 12

13 Your waiting period A waiting period is the number of continuous days, which must elapse before monthly benefits that will be paid to you begin to accrue. SignatureSuper offers waiting periods of either 30, 60, 90, or 180 days. The waiting period commences from the later of the following: the date you are first examined and certified by a medical practitioner as totally disabled in relation to an injury or sickness, and the date you ceased work due to that injury or sickness. What we pay Temporary Disability cover provides a percentage of your income for the applicable benefit payment period should you become unable to work because of illness or injury. The benefit will be based on your insured level of income on the last day prior to total disability (see insurance definitions) subject to the maximum monthly benefit. Where applicable, it will be limited to the AAL, accepted level of cover or forward underwriting limit (see insurance definitions), less any benefit offsets. The insurer will pay a total or partial disability benefit from the end of the waiting period until the earliest of the following events: the date you reach the cover expiry age, the date you die, the expiry of the benefit period, or two years if you are a casual or contractor with a minimum contract period of 12 months or less, the date you no longer satisfy the total disability or partial disability definitions, and the date you, if not an Australian permanent resident, are no longer permanently in Australia, or not eligible to work in Australia. Partial disability The insurer may pay you a portion of your monthly benefit where you have met the conditions of partial disability (see insurance definitions). This includes the condition that you are first totally disabled for at least 7 out of 12 consecutive days during the waiting period. The amount is calculated in accordance with the following formula: (A - B) x C Where: A A = your pre-disability monthly income B = your actual monthly income earned during the month of partial disability C = the monthly benefit that would otherwise be payable if you had suffered total disability. No benefit is accrued or payable until the expiry of the waiting period. Maximum amount of Temporary Disability cover Temporary Disability cover is limited to an overall maximum amount which is generally a $30,000 monthly benefit. This can be higher, up to a $50,000 monthly benefit, where the insurer agrees. This amount is determined as 75% of the first $480,000 of annual income then 50% of the next $480,000 of annual income, paid as a monthly benefit. If Superannuation Contribution Benefit applies, variations will be stated in the plan summary. Where the monthly benefit is above $30,000, the monthly benefit will revert to $30,000 after two years of the insured member receiving a monthly benefit. Where the monthly benefit is payable on or after your 65th birthday, the monthly benefit will be limited to the lesser of 75% of your Pre-Disability Income (plus SC Benefit if applicable), your Sum Insured and $10,000 per month. If there are any variations to the maximum insured amount this will be detailed in your plan summary. 13

14 Claims escalation benefit This is an optional benefit that can be selected by the SignatureSuper employer. Your plan summary will confirm if this benefit applies to you and the details. The claims escalation benefit means, where applicable, that in the event of a claim, your monthly benefit paid to you will be indexed by the lesser of CPI and 5% annually each year. Escalation will apply following 12 continuous payments of either Total Disability or Partial Disability benefits, measured from the date which benefits first commenced and each subsequent 12 months that you are paid a benefit. Recurrent disability Where you make a subsequent claim arising from the same or related cause as an earlier claim, the subsequent claim will be: treated as a separate claim (ie the waiting period will recommence and benefit period will be treated as though no previous claim had been submitted) if it occurred after you returned to full-time paid employment and any payment of Temporary Disability benefits have ceased for at least 12 months, provided cover has not ceased under the policy, or deemed to be a continuation of the original claim if made within 12 months from the ceasing of payments from the earlier claim. A further waiting period will not apply in this case and the benefit period will be adjusted to take into account prior claim payments. Concurrent disability Where you are totally disabled because of more than one injury or sickness, or from both, whether related or not, only one monthly benefit will be payable for any one period of disablement. Return to work during the waiting period You are permitted to return to work once, performing your usual duties for up to: ten consecutive days during the waiting period, where the waiting period is 60 days or more; or five consecutive days during the waiting period, where the waiting period is less than 60 days. Where you return to work during the waiting period for up to five or ten consecutive days (as applicable), the waiting period will be extended by the total number of days you have attempted to return to work. Where you return to work during the waiting period for more than five or ten consecutive days (as applicable), the waiting period starts again. Superannuation Contribution (SC) benefit The Superannuation Contribution (SC) cover is an optional feature that your SignatureSuper employer can provide under your plan and where this is the case it will be stated in your plan summary. Under the SC benefit, you will be provided with a benefit, in the event of total disability or partial disability, to cover compulsory employer super contributions. The SC benefit must be paid directly to a complying super fund and will also be subject to any conditions of release under super law. The maximum amount of the SC benefit paid to you for total disability is determined by applying the SC benefit percentage (up to 15%) stated in the plan summary to the lesser of: your pre-disability income, and the maximum super contribution base (see general definitions) for the applicable income year. In the case of partial disability, a proportional SC benefit will be paid. The SC benefit will be reduced, and in some circumstances may be reduced to nil, where the total benefit payable would exceed the maximum monthly benefit. 14

15 Exclusions for Temporary Disability cover No benefits are payable for Temporary Disability cover which is caused wholly or partly, directly or indirectly by: declared war or any act of war, active service in the armed forces of any country or international organisation 2, any deliberate self-inflicted injury or attempted suicide or self-destruction while either sane or insane, uncomplicated pregnancy, childbirth or miscarriage, or any other exclusions imposed by the insurer on you. Death while on claim If you die while in receipt of a Temporary Disability benefit, the insurer will pay a lump sum amount equal to three times your monthly benefit. The monthly benefit used to calculate this benefit will be limited to $30,000. Rehabilitation expenses Where you attend a rehabilitation program which incorporates a return to work plan approved by the insurer, the cost of that rehabilitation program will be paid by the insurer to the program provider. Rehabilitation expenses will relate to rehabilitation programs approved by the insurer designed to rehabilitate you to facilitate your return to your pre-disablement occupation or retrain you into another occupation. Workplace modification expenses The Workplace Modification benefit is payable if you are receiving Total or Partial Disability benefits and the insurer agrees that your place of employment requires modification in order for you to return to work, the insurer may pay all or some of the modification expenses to a service provider. The maximum payment is three times your monthly benefit, and any payments will be made at the insurer s discretion. A payment under this benefit may be made once only to you. Benefit Offsets The monthly benefit payable will be reduced by any amount which is paid, or required to be paid under: Workers Compensation, Motor Accident Compensation, Transport Accident Compensation, Social Security or similar legislation in relation to your injury or sickness, any statutory or other government payments for loss of income in relation to your injury or sickness, paid parental leave where an insured member continues to suffer a disability during a period of paid parental leave, and any disability, injury or sickness insurance type policy (other than a lump sum TPD benefit received under any insurance policy). Additionally, where you receive any other remuneration from the SignatureSuper employer while being paid a Temporary Disability monthly benefit (eg renewal commission), any such amounts will be considered to be an offset. The monthly benefit will not be reduced by income earned from investments, annual leave, long service leave entitlements or any termination (redundancy) payments. Sick leave will not be considered to be an offset except in the case where a SignatureSuper employer provides you unlimited sick leave as part of their employment arrangements. If any of the above payments are paid in the form of a commuted lump sum, the insurer will convert these to an equivalent monthly payment deemed to be 1/60th of the lump sum payment and offset benefit entitlements by this equivalent monthly benefit for a period of 60 months from the date of the lump sum payment. 2 In the case of your enrolment on the Australian Army Reserve, this exclusion is only applicable where you are called up for active service. 15

16 Interim Accident cover The insurer will provide Interim Accident cover to you while your application for Death cover, TPD cover or Temporary Disability cover, as applicable, or an increase in cover is being considered. For Employee members only who qualify for automatic acceptance and your default insurance cover exceeds your Plan s AAL, you will need to apply for that part of your cover. While your application is being assessed, the insurer will provide Interim Accident cover for that part of the cover which exceeds your AAL. When does cover start and stop? The Interim Accident cover period will start when the insurer receives an application for the applicable cover. The Interim Accident cover period will end on the earliest of: the insurer either accepting or rejecting your application for cover or increase in cover, as the case may be, you either cancel or withdraw your application, 90 days after the start of the Interim Accident cover period, or the type of cover being applied for would have otherwise ceased under the policy. When will a benefit be paid? A benefit will be paid in the event of accidental injury (see insurance definitions) resulting in death, total and permanent disablement and/or temporary disability which occurs during the Interim Accident cover period, subject to acceptance of your claim by the insurer. The maximum benefit period for Interim Accidental cover will be the benefit period as described in the plan summary. Are there any exclusions? The benefit will not be payable if, during the Interim Accident cover period, death or disability is caused directly or indirectly by: engaging in any sport or pastime that the insurer would not normally cover at standard rates or terms, and other exclusions under the policy. How much cover? The maximum amount payable will be the lesser of: the amount of cover applied for, or a limit of: $2,000,000 for Death and $1,500,000 for TPD cover, or $15,000 per month for Temporary Disability cover. 16

17 Section ₃ : Other insurance information This section outlines some general information for all members to help you further understand insurance in your plan: Takeover terms Where the insurer has agreed to takeover cover previously provided by another insurer How to make a claim Duty of disclosure

18 Insurance and Choice of Fund If Choice of Fund applies to you, you should consider your insurance arrangements carefully before choosing to direct Superannuation Guarantee (SG) contributions away from SignatureSuper to another fund. SignatureSuper, with group insurance arrangements, may provide more advantages for you than you could obtain through a personal insurance policy. These include the possibility of lower premium rates and the possibility to obtain insurance cover without having to provide medical evidence. It is important to note that your insurance cover could be affected if you make a choice. If the amount of your insurance cover is affected by your account balance and you decide to direct your future SG contributions away from SignatureSuper to another fund the terms and conditions of your insurance arrangements under SignatureSuper may change. If this is the case, we will write to you to inform you of any changes to your insurance arrangements. You should talk to your financial adviser before making any decisions that could affect your insurance cover. Takeover terms Takeover terms for insurance may apply when your plan commences in SignatureSuper and the insurer agrees to take over the cover previously provided by another insurer. The insurer will accept takeover terms if it receives and accepts all required information. For transferring members, your Death cover in the plan will commence on the date your SignatureSuper plan commences. Your TPD or Temporary Disability (if it applies) cover in the plan will also commence on the date your SignatureSuper plan commences if you were: at work actively performing all the duties and work hours of your usual occupation with your SignatureSuper employer on your last normal working day immediately before the date your SignatureSuper plan commenced, or on approved leave for reasons other than illness or injury on your last normal working day immediately before the date your SignatureSuper plan commenced and you were: at work actively performing all the duties and work hours of your usual occupation with your SignatureSuper employer on the day before your first day of leave, and not disabled due to an event (eg illness or injury) occurring before the date your SignatureSuper plan commenced while on paid or unpaid leave. Otherwise, your TPD or Temporary Disability cover in the plan will commence on the date your SignatureSuper plan commenced but will only be new events cover (see insurance definitions). Full TPD or Temporary Disability cover in the plan will commence once you are at work actively performing all the duties and work hours of your usual occupation with your SignatureSuper employer on or after the date your SignatureSuper plan commenced. For transferring family members, if the above takeover terms are provided for a group of family members who already have cover within a corporate superannuation fund, it will be agreed among the insurer, trustee and SignatureSuper employer. These terms for commencement of insurance cover are in accordance with the industry standard, referred to as the Financial Services Council Guidance Note No Group Insurance Takeover Terms. A full copy of this document is available from our customer service area (contact details are the back cover). 18

19 Leave without pay Where your SignatureSuper employer approves a bona fide period of leave without pay (including maternity or paternity leave), and there is a documented return to work date prior to leave without pay commencing, your cover will continue for a maximum 24 months provided premiums continue to be paid. If you do not return to work by the expected return to work date, your insurance cover will automatically cease 30 days after the expected return to work date, and any subsequent reinstatement will require the provision of evidence of insurability. The insurer will determine the level of underwriting required based on individual circumstances. You may apply to the insurer to extend cover beyond 24 months and cover may be granted at the discretion of the insurer. For members that either die or suffer a disability during a period of leave without pay, your Temporary Disability cover will be based on the level of pre-disability income at the date immediately prior to the commencement of leave and your Death and TPD cover will be based on the level of cover immediately prior to the commencement of leave without pay. If applicable, the waiting period will commence from the documented return to work date, subject to you continuing to meet the applicable definition of TPD, total or partial disability (as applicable) at the return to work date. The TPD or total disability definition used to assess your claim will be that which would have applied to you on the date immediately prior to the commencement leave without pay. Continuation option (if applicable) If you cease to be eligible for cover under the SignatureSuper Employer plan as a result of ceasing to be an employee of the employer for reasons other than for injury or sickness you will be entitled to apply for an AIA Australia individual Death only policy, Death and TPD policy or Income Protection policy with AIA Australia without the requirement to provide medical evidence. Amount of Cover The amount of cover you will be entitled to is the sum insured which applied to you under the plan, on the date immediately prior to your cover ceasing. Such cover will be subject to the same premium loadings and exclusions as those imposed under the plan and the terms and conditions (with the exception of minimum hours) applying to AIA Australia s individual policies at that time. The individual Income Protection policy will be: annually renewable; the sum insured will be the lesser of 75% of your new monthly income with your new employer and the sum insured at the date of termination of employment with your employer; indemnity based which means that at claims stage, the amount payable will be the lesser of the sum insured and 75% of the average monthly earnings for the 12 months immediately prior to the disability; and the policy provided will be AIA Australia s individual Income Protection product, applicable at the time a continuation option is issued. All PLUS Optional Benefits under AIA Australia s individual Income Protection product will be available providing you had Trauma benefits under the existing Temporary Disability cover. Where the equivalent waiting period is not available under the individual Income Protection plan, then the next higher waiting period will be applied. 19

20 Conditions and how to apply? A person applying for a continuation option must complete a group insurance continuation application form (available upon request). The continuation option application is then subject to AIA Australia s underwriting approval which includes the following: the continuation option must be applied for within 60 days of leaving the service of the employer, AIA Australia must receive a satisfactory Australian citizen or residency and smoker declaration, the person is aged under 65 for Death cover and aged under 60 for Death and TPD cover and Temporary Disability cover, the person must satisfy the eligibility criteria and terms under AIA Australia's Individual Death only or Death & TPD or Income Protection policy, the person is not eligible to receive, or must have not previously been paid a benefit payment(s) under the SignatureSuper Employer plan, or under any life insurance policy (including TPD or Terminal Illness benefits), or submitted a claim for benefits under any Terminal Illness and/or TPD Policy, for TPD and Temporary Disability cover, the person being employed on a permanent basis for at least 15 hours per week, in an occupation acceptable to AIA Australia at the time cover is to commence under the AIA Australia policy. Casuals and contractors who are moving to permanent employment in their new role for at least 15 hours per week are also eligible to exercise a continuation option, and the person was at work (see insurance definitions) performing their full and normal duties on the date of ceasing to be an employee of the employer. Temporary Disability agreed value continuation option We will also allow a person to exercise a continuation option and apply for cover based on an agreed value benefit which means at claim stage the amount payable will be the applicable sum insured. In addition to the conditions set out above, the following conditions will also apply: available to persons who are permanent employees only. Self-employed (sole trader, partnership, contractor or employee of their own company) are excluded; permanent employees must remain working and residing in Australia with their new employer; the person must be working a minimum of 25 hours per week, 35 weeks of the year; present occupation details and income details of the individual Income Protection application will need to be completed; confirmation of income (salary, superannuation, fringe benefits) from the new employer; and additional financial requirements will be needed where cover under the individual Income Protection policy exceeds $20,000 per month. How to make a claim As soon as you (or your representative) become aware of a potential claim, you (or your representative) should tell us as soon as reasonably possible. Once notified of a claim, we will provide the necessary claim forms. The insurer maintains the right to fully investigate and assess any claims to its satisfaction prior to the settlement of a claim. Any payment of benefits is subject to acceptance of your claim by the insurer. In respect of TPD and Temporary Disability claims that arise while you are overseas, the insurer reserves the right to require assessment or any medical examination to be conducted in Australia as part of its consideration of your claim. You will be responsible to pay any costs associated with you returning to Australia for the claim assessment. Please note : Time limits apply to certain complaints to the Superannuation Complaints Tribunal. If you have a complaint you should contact them immediately to find out if a time limit applies. See enquiries and complaints process in the member guide fact sheet for further details. Insurance Contracts Act The Insurance Contracts Act 1984 requires an insurer to clearly advise an insured of their duty of disclosure before entering into an insurance contract and the consequences of any non-disclosure. 20

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