Insurance & super

Superannuation supports your lifestyle when you retire. Insurance is an important way of protecting your quality of life – right now.

How it works

You can apply for insurance through Verve Super, or arrange cover through another provider. It’s up to you. Insurance through Verve is is paid from your Verve Super account and provided by the insurer AIA Insurance Limited – we don’t receive any payment or commission from AIA. You may be eligible to arrange insurance cover through a retail policy with another provider and still have premiums paid from your Verve Super account. You may want to speak with a financial advisor about finding the best insurance cover for you.

Why is insurance important?

Insurance helps to protect you and your loved ones in the event you are no longer able to earn income due to injury or illness, if you pass away or you become permanently disabled. Insurance can help to support you plan for and manage these risks.

Types of insurance available through super

Death only

Provides your dependants with a lump sum payment in the event of your death.

Death and Total & Permanent Disability

Provides you or your dependants with a lump sum payment in the event you become totally and permanently disabled or in the event of your death.

Income Protection 

Provides you with a monthly income stream in the event that you are sick or injured and not able to attend work.

You may be eligible to arrange insurance cover through a retail policy with another provider and still have premiums paid from your Verve Super account.

You may want to speak with a financial adviser about finding the best insurance cover for you.

Ways to apply for insurance at Verve

OPTION 1

Complete online application for automatic Death Only or Death & TPD cover

If you have recently joined Verve Super, you can apply for an automatic level of cover within the first sixty days of becoming a member. Simply log in to your online account, answer a few quick questions and if you are eligible, you’ll get an instant quote, plus the option to apply for cover on the spot. If you would like to change the level of cover or add income protection insurance, please complete an Insurance Application form.

OPTION 2

Apply for individualised cover

If you have been a member of Verve for more than sixty days, you want to specify the amount of cover, and/or you want to add income protection insurance, please complete and submit the Insurance Application form.


OPTION 3

Transfer existing insurance cover

You may be eligible to transfer* the level of cover you have through an existing policy, such as insurance through your previous or current super fund. If you would like to do this, please complete the Insurance Transfer Form and provide proof of cover that is no older than thirty days to hello@vervesuper.com.au. Please note, your existing cover should be active at the time of transfer so you may wish to wait before initiating any rollovers.

*Transferring cover refers to the transfer of the level of cover only (as well as any restrictions, such as loadings and exclusions, which apply). You will be subject to the premium structure and policy conditions that are set by AIA.

Get an insurance quote

An insurance quote will give you an outline of your insurance options and the premiums you can expect to pay from your superannuation account each month. If you would like an insurance quote please request a quote by emailing the following information to hello@vervesuper.com.au.

    • Cover type (Death only, Death and TPD or Income Protection)
    • Cover amount
    • Annual income
    • Occupation and typical daily duties (e.g. graphic designer – at a desk most days)
    • State of Residence
    • DOB
    • Sex*
    • Member number (if an existing member)

*Insurance providers require sex as a factor for determining insurance premiums. Please select male or female. We understand that gender and sex are not the same thing and neither are binary. However, some systems are yet to catch up. We have provided the insurance provider with this feedback and if you would like to add your voice, please let us know and we will pass it on.

Learn more

To learn more about insurance visit the Verve Academy’s Money and Mindset Program. Watch a short video on insurance and follow on with the Insurance Workbook.

For more information on insurance view the Insurance Guide, Product Disclosure Statement (PDS), Additional Information Booklet and Financial Services Guide. You may also want to consider seeking professional advice to ensure that you are making an informed decision based on your own financial objectives, situation and needs.

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