Insurance

Taxi Super members will receive an automatic level of insurance cover when they join the fund, provided you are eligible.  In addition you are also able to transfer existing insurance cover or apply for additional insurance cover through your Taxi Super account.

The different types of insurance cover available are:

Death Insurance

Death insurance will provide a lump sum benefit to your beneficiaries upon your death. Members can apply for an unlimited amount death cover. To find out what the appropriate level of cover is for you, please speak with your financial adviser.

Total & Permanent Disability (TPD) Insurance

TPD insurance will provide a lump sum amount if you are totally and permanently disabled and no longer able to work in any occupation. Members can apply for a maximum of $3,000,000 TPD cover. To find out what the appropriate level of cover is for you, please speak with your financial adviser.

Salary Continuance Insurance

Taxi Super offers eligible members Salary Continuance Insurance (SCI). This cover provides 24 hours a day, 7 days a week protection and peace of mind. SCI cover provides a benefit of 75% of your income if are unable to work because of temporary illness or injury.

SCI Waiting Periods

A waiting period is the length of time between when you are first unable to work due to being totally or partially disabled and when the benefit starts being paid. You can select from the following waiting periods:

  • 30 days
  • 60 days; or
  • 90 day waiting period.

SCI Benefit Periods

A benefit period is the amount of time your SCI cover will continue to pay you a benefit whilst you are unable to work due to injury or illness. You are able to select from 2 different benefit periods:

  • 2 years
  • To age 65