ENERGY SUPER INSURANCE GUIDE. Prepared and issued 1 July 2015

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1 ENERGY SUPER INSURANCE GUIDE Prepared and issued 1 July 2015

2 CONTENTS Insurance Overview 1 Death & TPD cover 1 Income Protection cover 10 Other insurance information 18 Definitions 19 ABOUT THIS ENERGY SUPER INSURANCE GUIDE The information in this document forms part of the Energy Super Member Guide Product Disclosure Statement (PDS) issued on 1 July 2015 by Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) (the Trustee) as the Trustee for Energy Super (ABN ) (the Fund). If you would like a copy of the Energy Super Member Guide or this document, please contact Energy Super on ENERGY ( ). This information will be provided at no cost. This Energy Super Insurance Guide describes the features and benefits of the insurance cover provided to new Defined Contribution and Public Offer members whose employers do not have special insurance arrangements with Energy Super. It will help you decide whether the available cover will meet your needs and might also help you compare our cover with other products you are considering. This Energy Super Insurance Guide is not relevant to members joining the Fund under a corporate agreement arranged by their employer. This Energy Super Insurance Guide has been prepared for general information only. It does not take into account your financial objectives, financial situation or needs. Any statements of law or proposals are based on our interpretation of the law or proposals as at the date this Energy Super Insurance Guide was issued. If you require specific advice, we recommend that you seek qualified professional advice. Energy Super members have access to professional financial advice through ESI Financial Services Pty Ltd (ESI FS) (ABN , AFSL ). If there are any inconsistencies between the terms of the Energy Super Trust Deed or the Insurance Policy and this Energy Super Insurance Guide, the terms of the Trust Deed and Insurance Policy prevail. To obtain a copy of the Energy Super Trust Deed or Insurance Policy, please call us on ENERGY ( ). The information in this Energy Super Insurance Guide is up-to-date at the date it is issued. Some of the information in this document can change from time-to-time and may not be up-to-date at the time you receive it. If a change is not materially adverse, we may not update this Energy Super Insurance Guide. Updated and new information will be published on our website. If you would like more information about Energy Super please contact us. We will provide you the information you reasonably require to make an informed assessment of the management, financial condition and investment performance of Energy Super. If you have any questions about being a member of Energy Super, you can contact us from 8.30am to 5pm Monday to Friday (excluding National holidays). SUPERRATINGS PLATINUM SUPER 2015 SUPERRATINGS PLATINUM MYSUPER YR PLATINUM PERFORMANCE Ratings provided by SuperRatings Pty Ltd (ABN , AFSL ) and Rainmaker Information Pty Ltd (ABN ). Ratings are only one factor to be considered when making investment decisions. Refer to energysuper.com.au/ratings for information about the rating and the rating scale.

3 INSURANCE OVERVIEW Energy Super s insurance arrangements are a convenient low cost solution for your personal insurance needs. Having the right level of personal insurance cover is an important part of your overall superannuation strategy. It is essential that you periodically review how much cover you have to ensure it is enough to meet your needs. Need help with your insurance cover? Our single issue advice service can give you personal advice over the phone at no additional cost to you. Simply call us on ENERGY ( ) or visit our website at energysuper.com.au to schedule an appointment with an adviser. Types of insurance cover automatically available through Energy Super are: DEATH & TOTAL AND PERMANENT DISABLEMENT COVER Death & TPD cover is a valuable benefit should you die or become totally and permanently disabled through injury or Illness. With Energy Super s Death & TPD insurance you have the flexibility to choose the cover that best suits your needs. You can choose units of insurance cover or a fixed-dollar amount of insurance cover. Furthermore, if you are transferring your super from another fund where you had Death and/or TPD cover, you may even be able to transfer the same level of insurance cover to us without having to provide evidence of your good health. See page 7 for details. The insurance cover you are initially eligible to receive automatically is determined by how you join Energy Super, either through an Energy Super Employer or by applying directly to the Fund (as a Public Offer member ). Death & Total and Permanent Disablement (TPD); Death Only; and Income Protection (IP). IBR Energy Super Insurance Guide energysuper.com.au I 1

4 DEATH & TOTAL AND PERMANENT DISABLEMENT COVER JOINING ENERGY SUPER (TWO WAYS TO JOIN) Insurance features Joining through an Energy Super Employer Joining as a Public Offer member Automatic Cover If eligible, you will receive the default age-based number of units with an automatic life-stage increases feature. See page 3 for details. You can choose to apply for Death & TPD insurance cover when you join the Fund. Cover is provided subject to eligibility requirements. Automatic Acceptance Limit (AAL) if you re eligible for insurance under AAL conditions you are not required to provide evidence of your good health. Optional/Additional Cover Paying for insurance cover AAL means you can get the Automatic Cover (explained above) for Death & TPD. If you join Energy Super within 120 days of joining your employer, you will receive automatic Death & TPD cover with an automatic life-stage increase feature, subject to being Actively At Work. If you are less than age 65 when joining Energy Super, you may apply for even more cover than the default without having to provide evidence of your good health (up to 10 units in total) when you apply within 60 days of joining Energy Super. See the Member Application Form to apply. You can apply for additional insurance cover, up to the maximum limits of $10 million for Death and $3 million for TPD, by completing a Change of Insurance Form. If you choose fixed-dollar cover, the fixed-dollar cover will replace any units of Death & TPD cover you may have. To apply for cover if you are not eligible under the AAL or want more cover, please complete a Change of Insurance Form. You may need to complete a Personal Statement and undergo medical tests in some circumstances. The cost of your Death & TPD insurance cover is deducted from your Energy Super account monthly. You are not eligible for Automatic Cover but can apply for insurance cover (unit-based or fixed-dollar cover) on the Change of Insurance Form. Your insurance cover is optional (you do not have to take out cover). You can apply for insurance cover, up to the maximum limits of $10 million for Death and $3 million for TPD, by completing a Change of Insurance Form. You may need to complete a Personal Statement and undergo medical tests in some circumstances. The cost of your Death & TPD insurance cover is deducted from your Energy Super account monthly. When you join the Fund, we require you to either: make regular contributions into your Energy Super account; or Transferring cover If you are rolling over your super from another fund, where you also have insurance arrangements, you may be able to transfer the same level of cover under takeover terms in Energy Super. For more information see Transferring your cover from another super fund on page 7. open an Energy Super account with $1,000 or more. If you are rolling over your super from another fund, where you also have insurance arrangements, you may be able to transfer the same level of cover under takeover terms in Energy Super. For more information see Transferring your cover from another super fund on page 7. 2 I energysuper.com.au Energy Super Insurance Guide IBR

5 UNIT-BASED COVER Features: insurance cover is based on multiples of units the benefit amount of each unit reduces with age the cost per unit remains the same. Automatic life-stage increases in cover The automatic life-stage increases feature is the default cover for members joining through an Energy Super Employer. Members joining by direct application to Energy Super can select the automatic life-stage increases feature when they apply for Death & TPD insurance cover. The life-stage increases feature will automatically increase your units of cover by 1 unit when you move from one age bracket to another. The cost of your insurance will also automatically increase in line with the number of units. For example, if you select the life-stage increases feature only (i.e. you do not select any additional units of cover), your units of cover will automatically increase from 2 to 3 units when you turn 29 years of age (your age next birthday will be 30). Age next birthday Units of cover To age to to to to 70 5 This means that the amount of cover you have will automatically increase at a time when you are most likely to need it due to work, debts and family commitments. The maximum cover obtained under the life-stage increases feature is when your age next birthday is 35, i.e. your Death & TPD cover is equal to $332,000. Your total cover amount begins to reduce when your age next birthday is 40. This is demonstrated visually in the graph below. Life - stage increases feature Life - stage increases feature $350,000 $300,000 $250,000 $200,000 Total cover ($) Total cover ($) $150,000 $100,000 $50,000 $ Age next birthday Age next birthday IBR Energy Super Insurance Guide energysuper.com.au I 3

6 DEATH & TOTAL AND PERMANENT DISABLEMENT COVER How to calculate your unit-based cover Your insurance cover = number of units purchased x amount of cover per unit for your age next birthday Gross amount of cover per unit Age next birthday Death & TPD ($) Death Only ($) Age next birthday Death & TPD ($) Death Only ($) Age next birthday Death & TPD ($) Up to ,600 48, ,800 28, ,400 13, ,400 47, ,000 27, ,800 12, ,400 46, ,300 26, ,300 11, ,300 46, ,000 24, ,000 11, ,300 46, ,200 23, ,400 10, ,000 43, ,600 22, ,200 9, ,400 42, ,300 21, ,000 8, ,700 41, ,100 20, ,700 8, ,400 39, ,300 19, ,400 4, ,800 37, ,700 17, ,100 3, ,400 35, ,300 17, ,000 2, ,400 33, ,000 16, ,900 1, ,000 32, ,000 15, ,700 1, ,200 30, ,300 14,300 Death Only ($) Please note: Cover levels are gross of tax (if applicable). See the How My Super Is Taxed Guide for information about tax on Death benefits. FIXED-DOLLAR COVER While unit-based cover is the default offered by Energy Super, you can also apply for fixed-dollar cover by completing a Change of Insurance Form. This form is available online at energysuper.com.au Your fixed-dollar cover for TPD will reduce proportionally from age 61 through to turning age 70, when cover stops. Your fixed-dollar cover for Death will not be affected by this and will not reduce. The age based tapering that applies to fixed-cover for TPD is shown as a percentage of your insured amount in the following table: Features: insurance is based on a fixed-dollar amount of cover nominated by you the cost increases annually with your age the benefit amount remains the same fixed cover replaces any unit-based cover you may have. With fixed-dollar cover you choose the amount of Death & TPD insurance cover you require and the cost is calculated based on your age next birthday and your level of cover. The fixed-dollar cover table on pages 5 and 6 disclose the annual cost of each $1,000 of cover. How to calculate fixed-dollar cover If you select fixed-dollar cover, the dollar amount of Death & TPD cover that you apply for will remain the same over time until you reach age 61. Age next birthday % of fixed cover 62 90% 63 80% 64 70% 65 60% 66 50% 67 40% 68 30% 69 20% 70 10% ELIGIBILITY FOR COVER All members of Energy Super, under age 70, can apply for Death & TPD cover. However, the definition of TPD is applied differently depending on whether your TPD cover commenced before or after 1 July 2014, your age, employment status and the number of hours you were working in the six month period prior to you becoming disabled (see Qualifying for a TPD benefit on page 7). 4 I energysuper.com.au Energy Super Insurance Guide IBR

7 MAXIMUM AMOUNT OF COVER You can apply for additional cover at any time (unit-based or fixed-dollar) up to the maximum benefit limits of $10 million for Death and $3 million for TPD. You should note, however, that you may be required to complete a Personal Statement and undergo other tests as required by the Insurer. WHEN YOUR COVER STARTS If you: are joining Energy Super through an Energy Super Employer your Automatic Cover or cover up to the Automatic Acceptance Limit (AAL) starts on the first day of your employment, provided you are At Work on that day and join Energy Super within 120 days of joining your employer. If you join Energy Super within 120 days of joining your employer but are not At Work on your first day of employment, (see At Work on page 19), Limited Cover will apply (see Limited Cover on page 19). You will need to be At Work for 30 consecutive days before your full cover applies. If you do not join Energy Super within 120 days of joining your employer you do not receive Automatic Cover but can apply for cover if you wish. Any optional or additional cover you take out, above the AAL, will commence on the day the Insurer accepts your application in writing. are joining Energy Super as a Public Offer member any optional cover you take out will commence on the day your application is accepted. Interim accident cover While your application for Optional/Additional Cover is being assessed, you will be provided with interim accident cover for the amount of additional cover you applied for, subject to a maximum amount of $1.5 million. Some conditions apply. Where interim accident cover applies, a benefit will only be payable where total and permanent disablement or death is caused by an Accident (as opposed to Illness or other disability). For the definition of Accident see page 19. Interim accident cover starts from the date your application for Optional/Additional Cover is received by the Fund. Interim accident cover will expire on the earliest of the following: 90 days after the commencement of the interim accident cover; the date your application for insurance is accepted or declined; the date you cancel or withdraw your application for insurance; or the date you are no longer eligible for insurance cover with Energy Super. No interim accident benefit will be payable for: injury caused by engaging in hazardous pastimes or sports that would not be covered under the Insurer s normal assessment guidelines; or injury occurring prior to the date you became eligible for cover. THE COST OF COVER The cost of your Death & TPD insurance cover depends on the amount of cover you choose and whether it is unit-based or fixed-dollar cover. You may be eligible for a discounted rate for your insurance if your occupation is within the definition of White Collar/Professional (the discount applies to both the unit-based and fixed-dollar cover). See page 20 for the definition of White Collar/Professional. The cost of your insurance will be deducted monthly in arrears from your Energy Super account. The benefit of any tax deduction available to the Fund for insurance costs deducted from your account is rebated to your account. This refund is currently 15% of the gross insurance cost. If applicable, the refund will show on your Annual Statement as Contributions tax refund (Insurance). Unit-based cover Death & TPD Standard gross cost: $0.99 per unit per week Discounted gross cost: $0.80 per unit per week (if applicable) Death Only Standard gross cost: $0.65 per unit per week Discounted gross cost: $0.52 per unit per week (if applicable) Fixed-dollar cover Standard gross cost (annual cost per $1,000 sum insured)* Age next birthday Death & TPD ($) Death Only ($) Up to *A tax refund of 15% of the gross insurance costs is credited to accounts and reduces the effective cost of insurance. IBR Energy Super Insurance Guide energysuper.com.au I 5

8 DEATH & TOTAL AND PERMANENT DISABLEMENT COVER Discounted gross cost* (annual cost per $1,000 sum insured) # Age next birthday Death & TPD ($) Death Only ($) Up to *You may be eligible for a discounted rate for your insurance if your occupation is within the definition of White Collar/Professional. See page 20 for definition. # A tax refund of 15% of the gross insurance costs is credited to accounts and reduces the effective cost of insurance. INCREASING, REDUCING OR CANCELLING COVER You can apply to increase your Death & TPD cover at any time by completing a Change of Insurance Form. However, if you apply to increase your cover it must be within the maximum allowable limits (see Maximum amount of cover on page 5). Your increased cover will not commence until your application has been accepted by the Insurer. You can decline to acquire, reduce or cancel your cover at any time by completing a Change of Insurance Form, which can be found on our website - energysuper.com.au. You can also cancel your cover over the phone by contacting us on ENERGY ( ). However, if at a later date you want to reinstate or increase your cover, you will need to complete a Change of Insurance Form and may need to undergo medical tests as required by the Insurer. If you had TPD cover before 1 July 2014 and cancel then re-apply for cover, your TPD cover will be subject to the Any occupation definition. See the Qualifying for a TPD benefit section for more information. Please note: Your employer may pay the cost of your insurance cover or you may be required to have cover under an enterprise bargaining agreement which is applicable to your workplace. You should investigate this with your employer prior to cancelling or reducing your cover. Life changing events If you experience a life changing event such as: getting married taking out your first mortgage the birth or adoption of a child; or getting a divorce, you are able to increase your Death & TPD cover by up to 2 units, or the equivalent amount of fixed-dollar cover, for each event (up to a maximum of 4 units in total) without having to provide any further health evidence to the Insurer as long as you are At Work on the date of your application. You must provide evidence of the event to the Insurer within 90 days of the event occurring. Proof of the event must be accepted by the Insurer before your cover is increased. Rewarding loyalty Once you have been a member of Energy Super for 10 years continuously, you may be eligible to receive additional Death & TPD insurance cover, without having to provide evidence of health. You will need to apply to the Insurer for the cover within 90 days of the event occurring or within 90 days of receiving your next Annual Statement or Record of Contributions, whichever occurs first, following your 10 year anniversary. For example, if you joined Energy Super in June 2011, and have been a member continuously since then, you will be eligible to apply to Energy Super to receive this cover from June If at the time of application you have unit-based insurance cover, you can apply for up to an additional 2 units, or the equivalent amount of fixed-dollar Death & TPD insurance cover. Limits on increases for life changing events and rewarding loyalty If your life changing events or rewarding loyalty application is accepted by the Insurer, your increased cover will only commence from the date of the Insurer s written acceptance, and will be subject to the same acceptance terms as your previous cover, including any premium loadings or exclusions. If at the time of application you have fixed-dollar cover, you will receive the equivalent of up to 2 additional units of cover as at your current age. Increasing your cover under life changing events or rewarding loyalty is subject to a maximum of four (4) additional units, or the equivalent amount of fixed-dollar cover, in total and is subject to maximum benefit limits (see Maximum amount of cover on page 5). 6 I energysuper.com.au Energy Super Insurance Guide IBR

9 For example, if you apply for 2 units when you get married then another 2 units when you reach your 10 year anniversary of Energy Super membership, you are unable to apply for any further cover under life changing events or rewarding loyalty. TRANSFERRING YOUR COVER FROM ANOTHER SUPER FUND If you are rolling over your super from another fund, where you also have Death & TPD insurance cover, you may be able to transfer that cover under takeover terms to Energy Super. This means you can keep the same amount of cover (subject to the maximum allowable limits of $10 million for Death cover and $3 million for TPD cover) without having to complete questionnaires and undergo medical tests. Before we can set up cover in this way, you will need to provide us with written evidence from your previous fund of the amount of cover provided including any restrictions, additional premium loadings or exclusions applied. Unless agreed otherwise, those same terms will continue to apply to the transferred portion of your insurance cover with Energy Super. Before applying to transfer cover, you should note that: you must be At Work (see page 19) on the date you apply to Energy Super to transfer your cover from your previous fund; once cover has been approved with Energy Super, the equivalent amount of cover must be immediately cancelled with your previous fund; once cover has been transferred to Energy Super, if you wish to apply for further increases in cover you will need to complete a Change of Insurance Form; and if your application is accepted, your cover will commence on the date the Insurer accepts your application in writing. Your current and transferred cover will be on the basis of fixed-dollar and the cost for this cover will be based on the age rates set out on pages 5-6. If you wish to take up this option, please complete an Insurance Transfer Form which can be found at - energysuper.com.au QUALIFYING FOR A TPD BENEFIT There is a different definition of TPD depending on whether your TPD cover commenced before or after 1 July Cover commenced on or after 1 July 2014 If your TPD cover commenced on or after 1 July 2014, the following definition of TPD applies: Any occupation definition You have been absent from your occupation solely through injury or Illness for a period of six consecutive months and are incapacitated to such an extent that, in the Insurer and Trustee s opinion, after consideration of medical and other relevant evidence, you were, at the end of the period of six consecutive months absence from employment, unlikely to ever engage in or work for reward in any occupation for which you are reasonably suited by education, training or experience. Cover commenced before 1 July 2014 If your TPD cover commenced prior to 1 July 2014, the definition of TPD is made up of four parts A, B, C and D (see above right). The part that will apply to you will depend on your age and the hours you worked in the six month period prior to you becoming disabled, as follows: If at the time of becoming TPD you are: PART A: Own / similar occupation definition Parts* A B C D Less than age 65 and Employed for at least 15 hours per week. n/a Less than age 65 and Employed for less than 15 hours per week or your occupation is classified as Home Duties. n/a Aged 65 years or more n/a n/a * You may be declared TPD if you meet any of the four parts of the definition that applies to your circumstances. You have been absent from your occupation solely through injury or Illness for a period of three consecutive months and are incapacitated to such an extent that, in the Insurer and Trustee s opinion, after consideration of medical and other relevant evidence, you were, at the end of the period of three consecutive months absence from employment, unlikely to ever engage in or work for reward in your own occupation and any similar occupation for which you are reasonably suited by education, training or experience. PART B: Specific loss You suffer the permanent loss of use of two limbs or the sight of both eyes; or the permanent loss of use of one limb and the sight of one eye (where limb is defined as whole hand or the whole foot) in circumstances where the loss will never be regained. PART C: Activities of daily living You are incapacitated to such an extent that, in the Insurer and Trustee s opinion, after consideration of medical and other relevant evidence, you are unlikely to ever be able to perform at least two activities of daily living without the physical help of someone else. For the purpose of this definition, activities of daily living means: bathing and/or showering; or dressing; or moving from place-to-place including in and out of bed and in and out of a chair; or eating or drinking; or using the toilet. PART D: Home Duties Where your occupation is classified as home duties, you have been absent from your occupation solely through injury or Illness for a period of six consecutive months and you are incapacitated to such an extent that, in the Insurer and Trustee s opinion, after consideration of medical and other relevant evidence you were, at the end of the period of six consecutive months absence from employment, unlikely to ever again attend to at least two normal physical domestic household duties. For the purpose of this definition, normal physical domestic household duties means: cleaning the family home; or shopping for food and household items; or meal preparation and laundry services; or leaving the house without the assistance of another person; or looking after dependent child/children under 16 years of age or in full-time secondary education, where applicable; or providing full time care for a disabled person(s) who is a member of your immediate family, where applicable. Continued on page 8 IBR Energy Super Insurance Guide energysuper.com.au I 7

10 DEATH & TOTAL AND PERMANENT DISABLEMENT COVER PART D: Home Duties If you are able to perform the normal physical domestic household duties with the assistance of another person or with the use of assistive devices, you are deemed to be able to perform these duties. You must be under the regular care and attention and following the advice of a doctor for that injury or Illness. Evidence that you carried out the duties on a daily basis prior to your period of disability will be required. If you have TPD cover with another super fund that has an Own/ similar occupation, Specific loss, Activities of daily living or Home Duties TPD definition, and wish to transfer that cover to Energy Super after 1 July 2014, you may be able to continue to have access to that definition subject to approval by the Insurer. See the Transferring your cover from another super fund section on page 7 for more information. The four part definition continues to apply as long as your cover continues and is not affected if you increase or reduce your cover. However, if your cover is cancelled and recommences, the new Any occupation definition applies. Amount of benefit The TPD benefit is calculated as at the date of claim. The date of claim for a TPD benefit is the date last worked immediately prior to the disablement or if you are not working the date you are declared disabled by two medical practitioners. The benefit you receive will include any insurance cover held at this date. TERMINAL ILLNESS Under certain circumstances a member may be declared terminally ill. If this was to apply to you, you will not have to serve any Waiting Period to become eligible to receive a Terminal Illness benefit. The definition of terminal illness is: you suffer from an Illness which in the Insurer s opinion, after consideration of medical evidence, would reasonably be expected to reduce your life expectancy to less than 12 months; you provide two medical practitioner s certificates which certify that you are suffering from an Illness that is likely to result in your death within 12 months and at least one of the registered medical practitioners is a specialist practicing in an area related to your Illness ; and for each of the certificates, the certification period has not ended. The reduced life expectancy must occur while you are covered and a Terminal Illness benefit replaces a Death benefit. Amount of benefit The Terminal Illness benefit is calculated as at the date of claim. The date of claim for a Terminal Illness benefit is the date we receive medical information supporting that life expectancy is reduced to less than 12 months. The benefit you receive will include any insurance cover held at this date. The maximum benefit payable on being diagnosed as terminally ill is $3 million. If your Death cover is higher than $3 million, the benefit paid on your death will be reduced by the amount of the Terminal Illness benefit already paid. To be eligible to access your money you must meet the terminal illness condition of release as outlined in the Getting my super Guide. OVERSEAS RESIDENCE AND TRAVEL Death & TPD cover applies 24 hours a day, 7 days a week, on a worldwide basis Australian Residents. See page 19 for the definition of Australian Resident. WHEN YOUR COVER ENDS Your Death & TPD cover with Energy Super will end on the earliest of the following: 60 days from the date your account balance is insufficient to cover the cost of the insurance premium; 60 days from the date you are no longer eligible for insurance cover, or are no longer a member of Energy Super; the date you exercise a continuation option (see above right); the date you reach age 70; the date you die; the date you are paid a Death or TPD benefit; the date you are paid a Terminal Illness benefit that is not less than your Death and/or TPD benefit; the day before you commence service in the armed forces (other than the Australian Army Reserve) of any country; the date you cancel your insurance cover; and when cover for every member ceases under the group insurance policy because the insurance policy is cancelled. Please note: If you cease work with an employer but remain a member of Energy Super, your Death & TPD cover continues until you meet the above criteria. The cost of cover is deducted from your account. You can cancel or reduce your cover by contacting Energy Super. Please note: If you had TPD cover before 1 July 2014 that has ceased and you re-apply for cover, your TPD cover will be subject to the Any occupation definition. See the Qualifying for a TPD benefit section for more information. CONTINUATION OPTION If you cease employment with your employer and leave Energy Super, you can apply to continue your insurance under an individual policy with the Fund s Insurer. You must be under age 60 and submit the application within 60 days of ceasing employment. You will be applying for an individual policy under retail conditions, which is guaranteed to be renewed annually. 8 I energysuper.com.au Energy Super Insurance Guide IBR

11 The continuation option applies only when your previous cover in Energy Super ceases. The following conditions apply: your cover must have ceased as a consequence of you ceasing employment with your employer and not for reasons of ill health. Continuation of cover is not available where you leave Energy Super and there is no change in your employment; for TPD insurance you must commence full-time employment within 90 days of ceasing employment; you have not ceased to be an insured member because of duty in the armed forces (not including the Australian Army Reserve); the benefit will be no more than your insurance cover under Energy Super. Any special terms and conditions applying to your cover under Energy Super, including premium loadings or exclusions, will also apply under the individual policy; the cover will be provided on the terms, conditions and rates that are current for this type of insurance at the time, and must satisfy the Insurer s underwriting criteria in relation to occupation, pastimes, smoking status and residency status; the individual policy premium will be subject to the Insurer s normal minimum premium; you must not have received, nor be eligible to receive, any TPD payments (under a group life policy) or similar payments under any other policy; you must be a permanent resident of Australia. The Insurer may decline to provide cover under the continuation option where the Insurer has no retail product available to cover the occupational risk. The cost of your insurance will be based on the Insurer s standard pricing for similar policies that applies at the time of your application taking into account your age, sex, occupation and other matters. If you wish to apply for a continuation option contact us on ENERGY ( ). MAKING A CLAIM You should notify us as soon as is reasonably practical if you think you may be eligible to make a claim. You should not leave this decision for too long. If your claim is submitted more than one year after the event giving rise to the claim, and the delay prejudices the Insurer s ability to assess the claim, it may cause the Insurer to decline or reduce the amount it will pay in respect of your claim. If you have been off work for more than three months and you are unlikely to recover from your disability, or if you have been diagnosed with a terminal illness, you should discuss this with your doctor, your employer and Energy Super. To find out more about making a claim, call us on ENERGY ( ). IF YOU LEAVE ENERGY SUPER Your insurance cover will stop when you leave the Fund. However, the Insurer may consider your claim if: you die within 60 days of leaving Energy Super; or you become totally and permanently disabled within 60 days of leaving the Fund and you were previously eligible for a TPD benefit under the policy. IBR Energy Super Insurance Guide energysuper.com.au I 9

12 INCOME PROTECTION COVER Energy Super s Income Protection (IP) insurance means if you are unable to work temporarily because of a disability, you can still have a fortnightly Income for up to two years and then until you reach age 65 if you choose - subject to meeting the eligibility requirements of the insurance policy. Energy Super has arranged your IP through a group policy which means you pay for your chosen level of cover at rates that are competitive and generally less than if you had taken out the same level of cover independently. The cover is split into two types: Standard Income Protection cover (2 year benefit); and Extended Income Protection cover (to age 65 benefit). ELIGIBILITY FOR COVER If you join Energy Super within 120 days of joining your Energy Super Employer, you will receive automatic Standard IP cover. Your cover starts on the first day of your employment, provided you are At Work on that day. If you join Energy Super within 120 days of joining your employer but are not At Work on your first day of employment you will need to be at work for 30 consecutive days before full cover applies. If you do not join Energy Super within 120 days of joining your employer you do not receive Automatic Cover but can apply for cover if you wish. For any optional or additional cover you take out, cover will commence on the day we accept your application and will be subject to the Pre-existing Sickness /Condition exclusion. If you elect to have contributions paid to another superannuation fund when joining your employer and then apply to join Energy Super, any cover shall be subject to the Preexisting Sickness /Condition exclusion. You will need to apply for Extended IP cover if you wish to access this benefit. Other members are eligible to apply for IP cover provided they are Actively At Work and earning an Income. You are not required to provide evidence of your good health when you apply. However, cover for any Pre-existing Sickness /Condition (see page 19 for definition) is available so long as you, on the advice of your doctor, have ceased all treatment for six months during the period you are insured. MAXIMUM AMOUNT OF COVER - STANDARD IP The weekly benefit for Standard IP is the lesser of: the level of cover you received automatically or applied for; or 90% of your Income. A contribution is also payable into your Energy Super account equal to the lesser of: 10% of your Income ; or 10% of the benefit level for which you are insured. JOINING ENERGY SUPER (TWO WAYS TO JOIN) Insurance features "Automatic Cover" Optional/ Additional Cover Waiting Period Joining through an Energy Super Employer If you join Energy Super within 120 days of joining your Energy Super employer, you will receive automatic Standard IP cover of up to $2,431.00* per week. Your cover starts on the first day of your employment, provided you are At Work on that day. If you join Energy Super within 120 days of joining your employer but are not At Work on your first day of employment you will need to be At Work for 30 consecutive days before your full cover applies. If you elect to have contributions paid to another superannuation fund when joining your employer, and then apply to join Energy Super, any cover shall be subject to the Pre-existing Sickness /Condition exclusion. Extended IP cover is not automatic and you will need to apply for this cover. In some circumstances Energy Super may adjust your IP benefit level if advised of your income by your employer. You can apply for additional Standard IP cover up to the maximum benefit level (see page 13) if you are Actively At Work. Any additional cover you take out above the Automatic Cover amount will commence on the day Energy Super accepts your application. Any cover above the Automatic Cover amount shall be subject to the Pre-existing Sickness / Condition exclusion. For more information see Maximum amount of cover. The Waiting Period is 14 days. Joining as a Public Offer member You do not receive an automatic level of cover when you join Energy Super. You can apply for IP insurance cover without having to provide evidence of your good health on your Member Application Form. Pre-existing Sickness /Condition exclusions will apply. Your insurance cover is optional (you do not have to take out cover). You can apply for additional insurance up to the maximum benefit level (see page 13) if you are Actively At Work. Any cover you take out will commence on the day Energy Super accepts your application and shall be subject to the Pre-existing Sickness /Condition exclusion. For more information see Maximum amount of cover. The Waiting Period is 14 days. *On 1 April each year, this amount will be indexed by 5%. 10 I energysuper.com.au Energy Super Insurance Guide IBR

13 JOINING ENERGY SUPER (TWO WAYS TO JOIN) CONT D Insurance features Joining through an Energy Super Employer Joining as a Public Offer member If you are a Public Offer Member, cover starts on the day your application for cover is accepted, provided you are Actively At Work and have sufficient funds to pay insurance costs. Preexisting Sickness /Condition conditions will apply. (See page 19 for definitions of Actively At Work and Pre-existing Sickness /Condition ). Extended Income Protection to age 65 Paying for insurance cover You can extend the payment period of your IP benefit beyond 2 years. You can apply for this option on your Member Application Form and a Personal Statement is required. The cost of your IP insurance cover is deducted from your Energy Super account monthly. You can extend the payment period of your IP benefit beyond 2 years. You can apply for this option on your Member Application Form and a Personal Statement is required. The cost of your IP insurance cover is deducted from your Energy Super account monthly. When you join the Fund and apply for insurance cover we require you to either: Maximum benefit period (if you have Standard IP cover) Age attained Benefit period 64 and under 2 years or until you turn 65, whichever happens first 65 and over (if you are not on claim when you turn 65) On claim when you turn weeks (for sickness benefit) or 52 weeks (for injury benefit) or until you turn 70, whichever happens first An additional 12 weeks (for sickness benefit) or 52 weeks (for injury benefit) to a maximum of 2 years total benefit period Maximum benefit period (if you have extended your cover to age 65) PAYMENT PERIODS Your Standard IP benefit payment period is generally up to two years and commences after your Waiting Period (14 days) has expired. If you also select and pay for the option to extend your insurance cover to age 65 your benefit payments will generally further continue until you reach age 65. The maximum period that your IP benefits will be paid depends on your age. WHEN YOUR COVER STARTS - STANDARD IP Where you join through an Energy Super Employer, your automatic standard IP cover starts on the day you start work if: you do not elect to join another fund; and make regular contributions into your Energy Super account; or open an Energy Super account with $1,000 or more. you join the Fund or a contribution is made for you within 120 days of starting work, provided you are Actively At Work on the day you start work. If you join the Fund within 120 days of joining your Energy Super Employer but are not At Work on your first day of employment you will need to be At Work for 30 consecutive days before your full cover applies. If you do not join the Fund within 120 days of joining your Energy Super Employer, you will not receive Automatic cover but can apply for cover if you wish and the Pre-existing Sickness/Condition exclusion will apply. If you choose another super fund when you start work with your Energy Super Employer, then decide to join Energy Super at a later date, you will need to complete the Member Application Form to apply for cover. Pre-existing Sickness /Condition conditions will apply. Age attained Benefit period 64 and under To age 65 Payments may cease before the maximum benefit periods in certain circumstances. Please refer to the Income Protection payments section on page 14 for more information. THE COST OF COVER Two year benefit payment period The cost you pay for your insurance depends on the level of cover you choose and whether or not you are covered by a Workers Compensation scheme (such as WorkCover Queensland). The cost of your IP insurance cover in Energy Super is subject to your eligibility for Workers Compensation cover which can be claimed if the Injury or Sickness related to your IP insurance claim is work related. Most employees are eligible for Workers Compensation cover in the State or Territory in which they work, but some individuals such as directors, sole traders and some contractors are not eligible. If you are not covered by a Workers Compensation scheme, the cost of your IP insurance cover is higher. If you are uncertain about whether you are covered by a Workers Compensation scheme anywhere in Australia talk to your employer or contact the Workers Compensation authority in your State or Territory. WorkCover Queensland can be contacted on Please note: If your relevant Workers Compensation scheme decides to cease weekly Statutory Benefits to you but you have not returned to work, the Trustee may request that you be examined by an independent medical specialist to determine the status of your disablement. If you are eligible to claim under a Workers Compensation scheme, you may be required to do so to be eligible to claim an IP benefit from Energy Super. The benefit of any tax deduction available to the Fund for insurance costs deducted from your account is rebated to your account. This refund is currently 15% of the gross insurance cost. If applicable, the refund will show on your Annual Statement as Contributions tax refund (Insurance). IBR Energy Super Insurance Guide energysuper.com.au I 11

14 INCOME PROTECTION COVER Gross cost of cover for a benefit period of 2 years The benefit levels and costs are as follows. Please note that the costs shown are subject to change. Year from Gross benefit level up to 1 (per week) 1 You can choose any benefit level you wish but keep in mind that the actual benefit payable will be the lesser of: the benefit level chosen; and 90% of your Income. A contribution is also payable into your Energy Super account equal to the lesser of 10% of your Income or 10% of the benefit level for which you are insured. So if you choose a benefit level and your Income is less than the amount in the Income needed to get full benefit column, the actual benefit payable will be less than the level you chose. 2 Calculated by multiplying the benefit level by 52 and dividing by 90%. Gross income needed to get full benefit 2 (per annum) Gross cost (per week) 3 Covered by Workers Compensation 3 A tax refund of 15% of the gross insurance costs is credited to accounts and reduces the effective cost of insurance. Please note: The cover levels shown above are gross of tax. Income Protection payments are subject to PAYG and end of year tax. Not covered by Workers Compensation 1 April 2015 $ $56, $11.35 $ April 2016 $1, $58, $11.92 $ April 2015 $1, $70, $14.58 $ April 2016 $1, $73, $15.31 $ April 2015 $1, $84, $19.45 $ April 2016 $1, $88, $20.42 $ April 2015 $1, $112, $25.93 $ April 2016 $2, $117, $27.23 $ April 2015 $2, $140, $32.41 $ April 2016 $2, $147, $34.03 $ April 2015 $3, $210, $58.34 $ April 2016 $3, $221, $61.26 $ April 2015 $4, $280, $77.79 $ April 2016 $5, $294, $81.68 $ April 2015 $6, $351, $97.24 $ April 2016 $6, $368, $ $ April 2015 $7, $421, $ $ April 2016 $7, $442, $ $ April 2015 $8, $491, $ $ April 2016 $8, $516, $ $ Example: Tom earns $140,458 a year and currently has the default IP with a benefit of up to $2, per week. He is covered by Workers Compensation, so the cost of this cover is currently $32.41 per week. If he was eligible to claim a benefit under this cover he would receive a weekly benefit of $2, per week and a $ super contribution. 12 I energysuper.com.au Energy Super Insurance Guide IBR

15 EXTENDING THE PAYMENT PERIOD PAST TWO YEARS Energy Super gives you the flexibility to extend the payment period of your IP benefit after the two year default period has elapsed to age 65. You are eligible to apply for the extended payment period providing you are a member of Energy Super and are Actively At Work earning an Income. You must also be: under age 65; engaged in regular employment; working an average of at least 14 hours or more per week; and an Australian Resident now and at the time of claim. See page 19 for definition of Australian Resident. The optional benefit is subject to medical evidence and will need approval by the Insurer. The cost of extending your benefit period to age 65 depends on the level of cover you choose, your age and whether you are eligible for a White Collar/Professional discount. MAXIMUM AMOUNT OF COVER The monthly benefit for IP cover to age 65 is the lesser of: The level of cover you applied for; or 85% of your Income. You will also receive 15% of your Income as a superannuation contribution into your Energy Super account. Additional gross cost of cover for a benefit payment period to age 65 The benefit levels and costs are as follows. Please note that the costs shown are subject to change. Gross Gross cost (per week)* Year from benefit With white collar discount Without white collar discount level up to 14 yrs & 9 14 yrs & 9 (per week): mnths to to to to 65 mnths to to to to 65 1 April 2015 $ $5.90 $8.85 $20.23 $32.78 $8.42 $12.64 $28.91 $ April 2016 $1, $6.20 $9.29 $21.25 $34.42 $8.84 $13.27 $30.35 $ April 2015 $1, $7.37 $11.06 $25.28 $40.98 $10.54 $15.80 $36.14 $ April 2016 $1, $7.74 $11.61 $26.55 $43.03 $11.07 $16.59 $37.95 $ April 2015 $1, $8.85 $13.27 $30.35 $49.18 $12.64 $18.96 $43.37 $ April 2016 $1, $9.29 $13.94 $31.86 $51.64 $13.27 $19.91 $45.53 $ April 2015 $1, $11.81 $17.69 $40.45 $65.56 $16.85 $25.28 $57.80 $ April 2016 $2, $12.40 $18.58 $42.47 $68.84 $17.70 $26.55 $60.69 $ April 2015 $2, $14.74 $22.12 $50.56 $81.96 $21.07 $31.61 $72.26 $ April 2016 $2, $15.48 $23.23 $53.09 $86.06 $22.13 $33.19 $75.87 $ April 2015 $3, $22.12 $33.19 $75.85 $ $31.61 $47.41 $ $ April 2016 $3, $23.23 $34.85 $79.64 $ $33.19 $49.78 $ $ April 2015 $4, $29.51 $44.25 $ $ $42.14 $63.21 $ $ April 2016 $5, $30.98 $46.46 $ $ $44.24 $66.37 $ $ April 2015 $6, $36.87 $55.30 $ $ $52.67 $79.00 $ $ April 2016 $6, $38.71 $58.07 $ $ $55.30 $82.95 $ $ April 2015 $7, $44.25 $66.37 $ $ $63.21 $94.82 $ $ April 2016 $7, $46.46 $69.69 $ $ $66.37 $99.56 $ $ April 2015 $8, $51.62 $77.43 $ $ $73.74 $ $ $ April 2016 $8, $54.20 $81.30 $ $ $77.43 $ $ $ *A tax refund of 15% of the gross insurance costs is credited to accounts and reduces the effective cost of insurance. Please note: The cover levels shown above are gross of tax. Income Protection payments are subject to PAYG and end of year tax. Example: Tom earns $140,458 a year, is 56 years old and has IP with a benefit of up to $2, per week. He currently receives the white collar discount, so the cost of his Extended IP cover is $81.96 per week. Including the cost of his Standard IP cover, the total cost of Tom s IP cover is $ per week. If Tom was eligible to claim a benefit, he would receive a weekly benefit of $2, per week and a $ super contribution for the first two years he was eligible to claim. If he was still unable to work after the initial two year benefit period had ended, Tom would then receive a weekly benefit of $2, per week and a $ super contribution until he reached age 65. Please note: The actual Extended IP benefit payable to members is the lesser of the weekly benefit outlined above or 85% of Income averaged over the last 12 months plus 15% super contribution. IBR Energy Super Insurance Guide energysuper.com.au I 13

16 INCOME PROTECTION COVER INCREASING, REDUCING OR CANCELLING COVER You are able to increase your Standard IP cover or Extended IP cover at any time. However, if you increase your cover it must be within the maximum amount of cover. Pre-existing Sickness /Condition conditions will apply for the amount of the increase for Standard IP cover and you will need to complete the underwriting requirements for Extended IP cover. If you have previously increased your cover, you can later reduce the cover by notifying Energy Super in writing. However, if you then want to reinstate the increase in your cover, you will have to reapply. If you wish to change your level of IP cover please complete a Change of Insurance Form or call us on ENERGY ( ). You can decline to acquire, reduce or cancel your IP cover (including default cover) at any time by completing a Change of Insurance Form. You can also cancel your insurance over the phone by contacting us on ENERGY ( ). Please note: You may be required to have insurance cover under an enterprise bargaining agreement which is applicable to your workplace. You should investigate this with your employer prior to cancelling or reducing your cover. In some circumstances, your employer may provide us with information which we utilise to adjust IP benefit levels. Our single issue advice service can give you personal advice about your IP cover over the phone at no additional cost to you. Simply call us on ENERGY ( ) or visit our website at energysuper.com.au to schedule an appointment with an adviser. INTERIM ACCIDENT COVER While your application for Extended IP cover is being assessed, you will be provided with interim accident cover for the lesser of the amount of Extended IP cover you applied for, the level of cover allowed under the Insurer s normal assessment guidelines and $15,000 per month. Some conditions apply. Where interim accident cover applies, a benefit will only be payable where you suffer a total disability as a result of injury. Interim accident cover starts from the date your application for Extended IP cover is received by the Fund. Interim accident cover will expire on the earliest of the following: 90 days after the commencement of the interim accident cover; the date your application for insurance is accepted or declined; the date you cancel or withdraw your application for insurance; or the date you are no longer eligible for insurance cover with Energy Super. No interim accident benefit will be payable for: injury occurring prior to the date you became eligible for cover; cover applied for that would have been declined under the Insurer s current assessment guidelines; or a claim lodged for an event or condition that would have been excluded under the Insurer s normal underwriting process. INCOME PROTECTION PAYMENTS If you qualify for a Standard IP benefit, your payments will commence after your 14 day Waiting Period has expired. Payments will be made fortnightly in arrears for up to two years and will stop: if you resume work or are deemed fit to resume work by a Medical Practitioner; or if you die; or at the expiry of the maximum benefit period (see the Payment periods section for more information); or if you fail to provide all requested information and other evidence reasonably required to assess the claim; or if you fail to follow or undertake the Medical Practitioner s advice or recommended treatment for the current disability. Advice or treatment includes seeking specialist advice or undergoing rehabilitation such as, but not limited to, obesity, drug addiction or alcoholism treatment plans where the condition is related to or exacerbating the current disability. Any benefit payable shall be suspended during a period of imprisonment whether served in a state run detention centre or alternate facility including home detention. If you choose Extended IP cover to age 65, pay for that option and qualify for an IP payment, your Extended IP benefit will be paid until you reach age 65. Payments will be made monthly in arrears and will stop if: you are no longer totally or partially disabled; or you die; or you reach age 65; or you are no longer under the regular and continuous care of a doctor; or you fail to provide the Insurer with all requested information and other evidence reasonably required to assess your claim. If you die while receiving an Extended IP benefit, a bereavement benefit will be paid in the form of a lump sum equal to three times your monthly benefit from the date of death. injury caused by engaging in hazardous pastimes or sports that would not be covered under the Insurer s normal assessment guidelines; 14 I energysuper.com.au Energy Super Insurance Guide IBR

17 QUALIFYING FOR AN INCOME PROTECTION BENEFIT You may qualify for an IP benefit if: as a result of an Injury or Sickness you are prevented from engaging in your Usual Occupation with your employer or your Usual Occupation if you are a self-employed person that generates your primary source of personal exertion Income and you are still a member of Energy Super. You must have been Actively At Work at the time your Injury or Sickness occurred, and must be under the regular care of and acting in accordance with the instructions or professional advice of a Medical Practitioner (who is not yourself); or you are partially disabled as a result of an Injury or Sickness and you are prevented from engaging in a substantial part of your Usual Occupation and you are still a member of Energy Super. You must have been Actively At Work at the time your Injury or Sickness occurred, and you must be under the regular care of and acting in accordance with the instructions or professional advice of a Medical Practitioner (who is not yourself). Injury means a physical injury caused by a violent, external and visible means which occurs fortuitously and results in a period of disablement while the policy is in force but does not include any condition which is also a Sickness. Sickness means a state of being ill which results in a period of disablement while the policy is in force and which continues for a period of not less than the Waiting Period and does not include an Injury. If you have been working on modified duties without any restriction in the hours worked for a period of 12 months, then this shall be considered your Usual Occupation. EXCLUSIONS Benefits are not payable under your Standard IP cover with a benefit period of up to two years where the disability arises from: any consequences of war, invasion or civil war; or any intentional self-inflicted Injury or Sickness, including any attempt at suicide; or a Criminal Act for which you have been charged and found guilty. No benefits will be payable if charged until such time as you are found to be not guilty or the charges are dropped. Criminal Act is any act forbidden by law for which the maximum penalty includes a period of imprisonment; or the use, existence or escape of nuclear weapons material or ionising radiation from/or contamination by radioactivity from any nuclear waste from the combustion of nuclear fuel; or any disablement which immediately results from the consumption of illicit substances prohibited by Australian federal law; or pregnancy, childbirth or miscarriage other than a complication arising from any of those conditions, which requires leaving employment in the first thirty-four (34) weeks of pregnancy. No benefit shall be payable during any period of maternity leave or for any complications arising after the thirty fourth week of pregnancy. No benefit shall be payable past the point when the complication is no longer deemed the primary cause of disablement. Benefits are not payable under your IP cover with a benefit period to age 65 where the disability arises from: any consequences of war, invasion, civil war or war like operations; or any intentional self-inflicted injury, including any attempt at suicide whether you were sane or insane; or normal or uncomplicated pregnancy, childbirth or miscarriage; or service in the armed forces of any country (not including the Australian Army Reserve). PRE-EXISTING SICKNESS /CONDITION Pre-existing Sickness /Condition exclusions apply in the following circumstances: for members who do not have Automatic Cover and apply for cover; for members who increase their cover above the level of their Automatic Cover ; and if your cover recommences after having ceased for any reason. Please see the Definitions section to identify which Pre-existing Sickness /Condition exclusion applies to you. PARTIAL INCOME BENEFIT If, after a period of total disability, you return to work on partial or restricted duties and earn less than your pre-disability Income, you will still be able to access benefits to top up your Income to the maximum benefit amount. RECURRENT DISABILITY If you suffer a recurrence of total or partial disablement from the same or related cause or causes within six (6) months, the subsequent period of disablement will be deemed a continuation of the prior disablement. A new Waiting Period will not apply and the total benefit period shall not exceed 104 weeks inclusive of the benefit already received. If you have worked on a full-time basis for a least six (6) consecutive months, the subsequent period of total disablement shall be deemed to have resulted from a new Injury or Sickness. A new Waiting Period and a new maximum benefit period of 104 weeks shall apply. If disability is caused by a new Injury or Sickness, the Waiting Period will apply subject to you being Actively At Work. If you return to work for more than 5 days during the Waiting Period, and suffer a reoccurrence of the Injury and/or Sickness which led to the initial total disablement, then the Waiting Period shall recommence from the day that you suffer total disablement after returning to work. IF YOU ARE ON UNPAID LEAVE If you are an Australian Resident, your Standard IP cover with a benefit period of up to two years will remain in place for up to 12 months if you are on unpaid leave that is approved by your employer and your insurance premiums continue to be paid. If you are not an Australian Resident, your Standard IP cover will remain in place for up to 90 days if you are on unpaid leave that is approved by your employer and your insurance premiums continue to be paid. See page 19 for the definition of Australian Resident. IBR Energy Super Insurance Guide energysuper.com.au I 15

18 INCOME PROTECTION COVER OVERSEAS RESIDENCE AND TRAVEL Your Standard IP cover with a benefit period of up to two years applies worldwide, with the following exception: If the country you are travelling to is subject to an Australian Government advisory notice advising against all travel to that country the day before you leave Australia (if the advisory warning is subsequently downgraded your cover will resume). If you become totally disabled while travelling overseas or travel overseas after becoming disabled, you will receive IP benefits for up to 12 weeks while you remain overseas. Upon your return to Australia, your benefits may recommence. Your IP cover with a benefit period to age 65 (if applicable) applies worldwide. However, unless you are continuously residing in Australia or in a country approved by the Insurer (contact Energy Super for a list of approved countries), your benefits will be subject to the following conditions: payment of benefits will be limited to 12 months; and after 12 months, no benefits will be payable to you unless you return to Australia or a country approved by the Insurer. Upon your return to Australia or an approved country, your benefits may recommence. WHEN YOUR ELIGIBILITY TO CLAIM ENDS You may be ineligible to claim your Standard IP cover with a benefit period of up to two years in the following situations: 60 days after you leave the Fund or any earlier date on which insurance commences with your new superannuation arrangements after leaving the Fund; or if you cease to be Employed for a continuous period of 6 months; or when you reach age 70; or if you die; or 30 days after there is insufficient funds in your account to pay insurance costs due; or when you have been on unpaid leave for more than 12 months; or if you join the armed forces (excluding Reserves residing in Australia); or when cover for every member ceases under the group insurance policy; or when you cancel your cover. You may be ineligible to claim your IP cover with a benefit period to age 65 in the following situations: 60 days after ceasing to be a member of the Fund; or If you retire or cease to be Employed ; or when you reach age 65; or if you die; or 60 days after there are insufficient funds in your account to pay insurance costs due; or if you join the armed forces (excluding Reserves residing in Australia); or you cancel your cover; or when cover for every member ceases under the policy. Please note: If you cease working for your employer, but remain a member of the Fund, your IP cover will continue. The cost of this cover is deducted from your Energy Super account. You can reduce or cancel your cover by calling Energy Super. MAKING A CLAIM To make a claim, you will be required to complete a claim form and submit the claim form along with all supporting evidence to Energy Super s Insurer. The claim form contains three sections, one to be completed by you, one by your employer and another by your treating Medical Practitioner. To avoid delays, you can submit your claim before the Waiting Period is complete. However, payments will only be calculated from the end of your Waiting Period and paid fortnightly in arrears. You must notify Energy Super as soon as is practicable and not more than 12 months after you have suffered a Injury or Sickness that may result in an insurance claim being made. You may be required to be examined by an independent Medical Practitioner of the Insurer s choice. To find out more about making a claim, call us on ENERGY ( ). WHAT HAPPENS WHILE ON CLAIM? Once the claim submission has been accepted and the Waiting Period has ceased, benefits will commence fortnightly in arrears. As such, you can expect your first payment to be processed two weeks after your Waiting Period ends. Progress reports and other medical certification will be required during the benefit period to ensure you are under the regular care of a Medical Practitioner. We will assess whether you are undergoing appropriate medical treatment and are compliant with the treatment prescribed. Medical certification of the disability will be required to support ongoing disability benefits. Each medical certificate cannot certify your incapacity for a period of more than three months. You will be advised when your benefit ceases. This can either be after one or more of the following occurs: the benefit period reaches 104 weeks (unless you have Extended IP cover); or you reach the maximum age limit; or you no longer meet the definition of either total disablement or partial disablement. 16 I energysuper.com.au Energy Super Insurance Guide IBR

19 You should notify us as soon as you become aware that you are due to return to work either on partial or full duties. Benefits will be adjusted to reflect the change to your state of incapacity. This will also avoid any recovery if a benefit is overpaid. Energy Super or our Insurer may require at any time during a period of disablement that you be examined by an Independent Medical Officer of their choosing. The costs associated with the examination will be met by us, however, if you fail to attend the examination for any reason then you will be required to pay any costs incurred. Failure to attend the Independent Medical Examination may result in suspension or cessation of benefits. Insurance costs continue to be deducted from your account while you are on claim. WHEN YOUR INCOME PROTECTION BENEFIT WILL BE REDUCED Your Standard IP benefit (with a benefit period of two years) will be reduced by any sick leave, Workers Compensation, accident compensation, or other insurance policy, disability or statutory payments you receive. You must disclose all payments or benefits before, during or after you receive a Standard IP benefit. The Insurer will pay you the difference between the sick leave payments, other not at work related payments, Workers Compensation payments and the lesser of: the benefit level chosen; and 90% of your Income. Your IP benefit to age 65 will be reduced by any Income you are entitled to from other sources (whether that Income was actually received or not). Income from other sources includes: any benefits payable under other IP policies; any benefits payable under Workers Compensation or other legislation; and any benefits payable in respect of any claim for past or future economic loss arising from any personal injury claim you have made. The Insurer will pay you the difference between the Income from other sources, and your insured amount. Your IP benefit may also be reduced to equal the proportion of which your Injury or Sickness contributes to you being unable to work. If a benefit is paid and you subsequently receive payments from another source, your benefit will be reduced. Any difference must be repaid to the Insurer or your future benefit may be reduced. INDEXATION OF BENEFITS WHILST ON CLAIM If you have been paid a benefit for a continuous 12 month period, the amount of the benefit payable will be increased by the lesser of 5% or the annual percentage increase in CPI, taken at the end of the last reported quarter prior to the date of review, whichever is lesser. This will apply to all benefit payments after the first 12 months of continuous benefit payments. IBR Energy Super Insurance Guide energysuper.com.au I 17

20 OTHER INSURANCE INFORMATION INSURANCE CLAIMS If you (or your beneficiaries) wish to make a claim for any insured benefit provided by Energy Super, you (or your beneficiaries) need to contact Energy Super. If you make a claim, the Trustee may conduct investigations to assess the value and validity of your claim. This may involve the use of investigation agents, legal advisers and the collection of personal data that the Insurer believes is relevant. YOUR DUTY OF DISCLOSURE Before you enter into a contract for personal insurance cover with an Insurer, you have a duty under the Insurance Contracts Act 1984 to disclose to the Insurer every matter that you know, or could reasonably be expected to know, that is relevant to the Insurer s decision whether to accept the risk of insuring you and, if so, on what terms. You also have the same duty of disclosure if you wish to renew, extend, increase or reinstate your insurance cover. Your duty however, does not require a disclosure of a matter: that is of common knowledge; that your Insurer knows or, in the ordinary course of business, ought to know; for which your duty of compliance is waived by the Insurer. If you fail to comply with your duty of disclosure and the Insurer would not have entered into the contract on any terms if the failure had not occurred, the Insurer may void the contract within three years of entering into it. If your non-disclosure is fraudulent, the Insurer may void the contract at any time. An Insurer who is entitled to void a contract of life insurance may elect not to void it but to reduce the sum insured in accordance with a formula that takes into account the premium that would have been payable if you had disclosed all relevant matters to the Insurer. 18 I energysuper.com.au Energy Super Insurance Guide IBR

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