Optional Income Protection Insurance Cover

Optional Income Protection Insurance Cover Members of AMIST Super may apply for Income through the fund. This insurance provides benefits in the event that you are unable to work in your current occupation (with a participating AMIST Super employer) due to illness or physical incapacity. For you to qualify for cover the employment contract must be for a period of no less than 12 months, requiring you to perform identifiable duties for a regular number of hours each week and provide for annual leave, sick leave and long service leave. You can take out income protection insurance to provide you with a monthly benefit paid for up to two years if you are unable to work because of sickness or injury. To apply for cover you will need to complete the Application for insurance Group Risk Personal Statement form. Please contact the AMIST Super Member Hotline on 1800 808 614 for a copy of the form. Depending on the level of your cover the insurer may require further health or other evidence to assess your application. If you are accepted for Income Protection cover, the maximum benefit payable will be the lower of: 75% of your average monthly income (before bonuses) for the last twelve consecutive months; $10,000 per month You need to take into account these maximum levels of cover when you choose the number of units of income protection insurance cover you take out. Units of income protection cover provide $100 of monthly benefit each. For example, if you want $2,500 worth of monthly income protection cover, you need 25 units. The minimum insured income protection benefit for eligible members is $1,000 per month (that is 10 units). Once you have chosen the level of income protection cover, it is important that you review the number of units of cover that you have on a regular basis to make sure that you have an adequate level of cover. When does Income commence? Cover will commence from the date you are accepted for cover by the insurer. For you to be accepted, you must complete the application for insurance to the satisfaction of the Insurer. The Insurer may from time to time require further medical evidence to assess your requested level of cover. When does Income cease? Cover for an insured member ceases on the earlier of the: Death of the member; or Cover expiry age being 65 years; or Date the fund receives written advice from the member that he or she wants to cancel his or her cover; or 120 days from the end of the month in respect of which the last on time employer contribution was paid; or Person is no longer a member of AMIST Super; or Date on which the member s account balance is insufficient to cover the next premium deduction; or End of the Payment Period; or Date the member joins any armed forces, other than the Australian Armed forces reserve; or Date the policy terminates; or Date the AMIST Super group life policy terminates. When does the income protection benefit commence? The income protection insurance benefit will be paid monthly in arrears and will start after you have been totally disabled continuously for longer than the waiting period. The waiting period can be 30, 60 or 90 days as nominated by the member. The benefit will not commence until the insurer has approved the claim. What does totally disabled mean? A member is totally disabled if, because of sickness or injury, he or she is: a) unable to perform at least one income producing duty of his or her occupation; and b) under the regular care of, and following the advice of, a medical practitioner; and c) not working in any occupation, whether or not for reward. Income Producing Duty means: A duty of the member s occupation immediately before he or she became disabled which generates 20% or more of the member s income. Partial Disability: If, after being totally disabled, you are assessed to be only partially disabled during the benefit payment period, you may still be eligible to receive part of the monthly benefit. An insured member is partially disabled if he or she is not totally disabled but, because of sickness or injury, he or she: a) has been totally disabled for at least the relevant waiting period being 30, 60 or 90 days; b) is unable to work in his or her own occupation at full capacity immediately after he or she became totally disabled because of the sickness or injury that caused his or her total disability; c) is working in his or her own occupation in a reduced capacity, or working in another occupation; d) earns a monthly income that is less than his or her pre-disability income; and e) is under the regular care of, and following the advice of, a medical practitioner. 17

Optional Income Protection Insurance Cover - continued When does your income protection benefit end? The benefit is payable monthly in arrears from the end of the waiting period until one of the following happens: a) the insured member is no longer totally or partially disabled; b) the benefit payment period ends; c) the insured member dies; or d) the insured member reaches age 65 or such other expiry date as agreed. How much is the monthly income protection benefit? The amount of the benefit payable each month will be the lesser of: a) the monthly benefit reduced by the amount of disability income paid, or which is required to be paid, in respect of the member s sickness or injury; and b) 75% times the member s monthly predisability income; and the amount of the insured monthly benefit. Your monthly income protection insurance benefit will be reduced by any disability income you may receive. Disability income means income or equivalent payments as a result of your sickness or injury including: a) any income (other than benefits received under this policy) or commutation of income, paid or payable in respect of an insured member as a result of the insured member s sickness or injury including: i) sick leave payments; ii) social security payments; iii) any amounts payable under legislation such as workers compensation or motor accident compensation; and iv) any benefits payable under other income protection insurance policies; b) any income earned by the insured member from personal exertion while disabled, but excluding any such income earned from the employer; and c) any income which, in our opinion, the insured member could reasonably be expected to earn in his or her occupation while disabled. Reinstatement of Income Where cover ceases through the fund due to you ceasing employment, cover may be reinstated at the previous units and type of cover immediately prior to cover last ceasing provided certain conditions are met. For more information please contact the AMIST Super Member Hotline on 1800 808 614. Increase in cost of Income The insurer may increase the cost of any insurance cover offered by AMIST Super. We will provide you with at least 30 days prior written notice where this occurs. Worldwide cover for Income Cover is available outside Australia for a maximum of thirteen weeks for you unless we agree in writing before you leave Australia. After this period we may apply a restriction to the cover or a loading to the premium where you are travelling in highrisk countries as identified by us. Insured Members travelling overseas for more than thirteen weeks must notify the fund/ Insurer using our leave without pay form prior to leaving the country. We cannot guarantee cover if you travel overseas for more than thirteen weeks without first notifying us. This restriction on cover outside Australia only applies to you if you are no longer employed by your Participating employer or are on leave without pay or mandated employer contributions are no longer being made to AMIST Super for you by your Participating employer. If you are on fully paid leave, including annual leave or long service leave, and mandated employer contributions are being made for you to AMIST Super, you will continue to be covered while overseas for more than 13 weeks. Cover will not be provided for claims arising from war. Cost of Income Protection insurance cover The cost of income protection insurance cover depends on the premium rate that applies for your gender, age, occupation (Group 1, 2 or 3) and the waiting period you choose. To work out the monthly premium for your age and job tasks, refer to the premium rate tables on the following pages. Please note that the Insurer will determine which Group is applicable to your occupation based on the information provided on your application form. Occupations are categorised in 3 groups: Group 1: Insured members who perform only non-manual duties and work at least 75% of the time in an office environment and have done so for the last 12 months. Group 2: Insured members who do not qualify as Group 1 or Group 3 members. There may be some hazardous occupations for which cover will not be offered, this will be assessed on a case by case basis by the insurer. Group 3: Insured members who work in the meat industry in an occupation that the insurer considers as high risk such as: Abattoir workers; Butcher/meat worker within an abattoir; Butcher/meat worker cold store/ process worker; Butcher/meat worker packer; and Slaughterer or any other similar occupation within the meat industry. Look up your age last birthday in the left hand column and then multiply the corresponding figure in the next columns for the waiting period and number of units of income protection insurance cover you want. The premiums in the tables show the annual premium per unit of cover. The cost of cover is deducted monthly from your member account. 18 AMIST Super Product Disclosure Statement February 2009

Circumstances where Income Protection insurance benefits will not be payable There are some circumstances where an income protection insurance benefit will not be payable. Income protection insurance benefits will not be payable if your sickness or injury is caused directly or indirectly from: Your service in the armed forces of any country, Any war or act of war (whether declared or not), revolution, invasion, rebellion or civil uprising, or Any self inflicted act whether or not you were sane at the time, or Normal pregnancy or childbirth. Where normal pregnancy or childbirth means normal and uncomplicated pregnancy or childbirth, including multiple pregnancy, caesarean birth, threatened miscarriage, participation in in-vitro fertilisation or other medically assisted fertilisation techniques and normal discomforts of pregnancy, such as morning sickness, backache, varicose veins, ankle swelling and bladder problems. This document does not contain full details of the contract between AMIST Super and its insurer and only offers a general guide to the insurance offered by AMIST Super. Full details of the insurance arrangements are contained in the Insurance Policy document. If you require further information about the insurance AMIST Super offers please contact the Administrator on 1800 808 614. The insurance is provided under a contract between the Trustee and the Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809. Insurance costs are not guaranteed and may be varied from time to time without notice. The following tables show the insured member s premium rates per annum for each. The table that applies to you depends on which occupational group you come under, your current age and the waiting period that you select. GROUP 1 Payment Period Insured members (Group 1) Age Attained Premium Rates ($) per annum for each 15 4.04 2.83 2.02 16 4.09 2.86 2.04 17 4.14 2.90 2.07 18 4.19 2.94 2.10 19 4.27 2.98 2.14 20 4.33 3.04 2.17 21 4.41 3.09 2.20 22 4.46 3.12 2.22 23 4.50 3.15 2.25 24 4.54 3.17 2.27 25 4.45 3.11 2.22 26 4.37 3.06 2.19 27 4.33 3.03 2.17 28 4.34 3.04 2.18 29 4.41 3.08 2.20 30 4.51 3.16 2.26 31 4.67 3.27 2.34 32 4.86 3.40 2.43 33 5.05 3.54 2.53 34 5.29 3.71 2.65 35 5.57 3.90 2.78 36 5.87 4.10 2.94 37 6.20 4.34 3.11 38 6.57 4.60 3.29 39 6.97 4.88 3.49 40 7.39 5.17 3.70 41 7.82 5.47 3.91 42 8.29 5.80 4.15 43 8.77 6.14 4.39 44 9.29 6.51 4.65 45 9.88 6.92 4.94 46 10.58 7.40 5.29 47 11.37 7.96 5.68 48 12.20 8.54 6.10 49 13.15 9.21 6.57 50 14.21 9.95 7.11 51 15.39 10.77 7.70 52 16.65 11.66 8.33 53 18.06 12.64 9.03 54 19.53 13.67 9.77 55 21.13 14.79 10.56 56 22.85 15.99 11.42 57 24.80 17.36 12.40 58 27.04 18.92 13.52 59 29.55 20.68 14.77 60 32.31 22.62 16.15 61 35.31 24.72 17.65 62 31.75 22.22 15.87 63 26.46 18.52 13.22 64 15.93 11.15 7.97 19

Optional Income Protection Insurance Cover - continued GROUP 2 Payment Period Age Attained Insured members (Group 2) Premium Rates ($) per annum for each 15 11.22 7.86 5.61 16 11.36 7.95 5.68 17 11.50 8.06 5.75 18 11.65 8.15 5.82 19 11.85 8.29 5.93 20 12.05 8.44 6.02 21 12.26 8.58 6.13 22 12.37 8.66 6.18 23 12.50 8.75 6.25 24 12.61 8.83 6.31 25 12.34 8.64 6.18 26 12.15 8.50 6.07 27 12.04 8.43 6.02 28 12.07 8.45 6.03 29 12.24 8.56 6.12 30 12.55 8.79 6.27 31 12.98 9.08 6.49 32 13.50 9.45 6.75 33 14.04 9.83 7.02 34 14.71 10.29 7.35 35 15.46 10.82 7.72 36 16.30 11.41 8.15 37 17.23 12.07 8.62 38 18.25 12.78 9.13 39 19.37 13.56 9.69 40 20.52 14.36 10.26 41 21.73 15.21 10.86 42 23.04 16.13 11.52 43 24.37 17.05 12.18 44 25.81 18.07 12.91 45 27.46 19.22 13.73 46 29.38 20.57 14.70 47 31.59 22.11 15.79 48 33.89 23.72 16.95 49 36.53 25.56 18.26 50 39.47 27.63 19.73 51 42.75 29.93 21.38 52 46.27 32.39 23.13 53 50.15 35.10 25.08 54 54.26 37.98 27.13 55 58.68 41.08 29.35 56 63.46 44.42 31.73 57 68.88 48.22 34.44 58 75.11 52.57 37.55 59 82.06 57.44 41.03 60 89.75 62.82 44.87 61 98.09 68.66 49.04 62 88.19 61.73 44.10 63 73.48 51.43 36.74 64 44.26 30.99 22.14 GROUP 3 Payment Period Age Attained Insured members (Group 3) Premium Rates ($) per annum for each 15 22.44 15.71 11.21 16 22.72 15.90 11.36 17 23.01 16.11 11.50 18 23.29 16.30 11.65 19 23.69 16.59 11.86 20 24.09 16.87 12.05 21 24.51 17.16 12.26 22 24.74 17.33 12.37 23 25.00 17.50 12.50 24 25.21 17.65 12.62 25 24.68 17.27 12.35 26 24.30 17.01 12.14 27 24.07 16.85 12.05 28 24.13 16.89 12.07 29 24.47 17.12 12.24 30 25.10 17.58 12.54 31 25.95 18.16 12.98 32 27.00 18.91 13.51 33 28.08 19.67 14.04 34 29.41 20.58 14.71 35 30.91 21.64 15.45 36 32.60 22.82 16.30 37 34.47 24.13 17.23 38 36.50 25.56 18.26 39 38.74 27.11 19.38 40 41.04 28.73 20.52 41 43.45 30.42 21.72 42 46.08 32.26 23.05 43 48.74 34.11 24.36 44 51.62 36.14 25.82 45 54.91 38.44 27.46 46 58.77 41.14 29.39 47 63.18 44.21 31.58 48 67.77 47.44 33.90 49 73.06 51.13 36.52 50 78.95 55.25 39.46 51 85.50 59.85 42.75 52 92.53 64.77 46.27 53 100.30 70.21 50.16 54 108.53 75.96 54.26 55 117.36 82.16 58.69 56 126.92 88.84 63.46 57 137.77 96.44 68.88 58 150.21 105.15 75.11 59 164.12 114.87 82.06 60 179.49 125.65 89.74 61 196.18 137.31 98.08 62 176.38 123.46 88.20 63 146.97 102.87 73.47 64 88.52 61.98 44.27 20 AMIST Super Product Disclosure Statement February 2009

Example 1 Peter, who is 50 years old and works 100% of his time in administrative duties in the office (without manual duties) of a meat company and has done so for at least the last twelve months, wants to take out Income Protection insurance. He earns $46,800 per annum and wants to take out $2,500 of monthly cover with a 90 day waiting period. The maximum level of monthly cover that Peter can take out is $2,925 per month ($46,800 x 75% 12). Therefore, the level of cover Peter wants is below the maximum. To find out how much this insurance would cost him per month, he does the following: Group: As Peter s occupation does not involve any manual labour, he comes under Group 1. He has selected a 90 day waiting period. Age: Peter is 50. Looking at the table, the annual premium for a 50 year old in Group 1 with a 90 day waiting period is $7.11 per annum for $100 of monthly benefit. Cover: Peter wants $2,500 per month worth of cover. This is equivalent to 25 units (each unit being $100). Cost: Therefore, Peter s annual Income Protection insurance premium is $7.11 (the cost of one unit of cover) multiplied by 25 (the number of units) = $177.75 per annum which is the equivalent of $14.81 per month. Example 2 Matthew, who is 30 years old, is a meat worker in an abattoir and wants to take out Income Protection insurance. He earns $30,000 per annum and wants to take out the maximum level of monthly cover with a 90 day waiting period. The maximum level of monthly cover that Matthew can take out is $1,875 ($30,000 x 75% 12). Matthew decides to take out 19 units of cover which represents a benefit of $1,900. He would only receive a benefit of $1,875 however, as this is 75% of his income. To find out how much this insurance would cost him per month, he does the following: Group: As Matthew s job involves manual labour in an abattoir he comes under Group 3. Matthew decides on a 90 day waiting period. Age: Matthew is 30. Looking at the table, the annual premium for a 30 year old with a waiting period of 90 days is $12.54 per $100 of monthly benefit. Cover: Matthew wants $1,875 per month of cover. This is equivalent to 19 units (each unit being $100). Cost: Therefore, Matthew s annual Income Protection insurance premium is $12.54 (the cost of one unit of cover) multiplied by 19 (the number of units) = $238.26 per annum which is equal to $19.86 per month. 21