Frequently Asked Questions

The way Death and Total & Permanent Disability (TPD) cover is determined will be updated to better align a member’s insurance cover to their age and estimated insurance needs, rather than only considering a salary-based formula. This new design is called ‘Lifestage Death and TPD’.

Within ‘Lifestage Death and TPD’, TPD cover is higher than the amount of death cover until age 35, then equal amounts of Death and TPD cover are provided from age 36 until benefit expiry. This means, from 1 December 2023, some members will receive an increase to their amount of TPD cover.

Importantly, no members will have less cover as a result of the change to the Lifestage design. There will be changes to insurance premiums.

All members of the Anglican Super Plan are impacted by these changes to insurances from 1 December 2023 – with the exception of Family Members who retain their current insurance design.

Being told you are unlikely to ever return to work would be a devastating prognosis, especially if you are a younger member in your 20s or 30s starting your working career.  TPD is designed to provide a lump-sum amount to members where they are disabled due to sickness or injury and are unlikely to ever return to work.

TPD insurance needs are usually higher for younger members, as the impact of permanent disablement causing them to be unable to ever work again may be more significant than older members. The new design accounts for this by providing a higher amount of TPD cover early in life.

Conversely, as members near retirement age, they may have accumulated a larger asset base over their lifetime, have fewer financial dependents, and may therefore have a reducing need for Death and TPD cover.

• TPD definition is updated to align with improved industry standards
• For all members up until age 67 the TPD definition that applies to their claim assessment is based on their employment status and not the number of hours worked each week
• Terminal Illness certification period extended to 24 months
• New Life events cover to allow members to increase insurance without underwriting
• Improved overseas cover provisions
• Cover for a longer period when a member is on leave without pay
• Death, TPD and Income Protection premiums waived if you are totally or partially disabled when on income protection claim.
   

These changes are not retrospective and will apply where the claimable event occurs on or after 1 December 2023.

All members continue to have full control on increasing (subject to underwriting and insurer approval) or decreasing levels of cover to suit their personal situation.

There is no change to the way Income Protection is determined.

The benefit design for Income Protection cover is to remain unchanged and continues to be a modern and contemporary design.

Members will have a decrease in their Income Protection premiums. 

• Total & Partial Disability definitions have been improved  
• Extending the waiving of all premiums (including Death & TPD) whilst you are either partially or total disability
• An increase in the maximum income protection monthly benefit available with Interim Accidental Cover
• A new Death benefit is being introduced if your death occurs whilst on Income Protection claim

There is no action required by you as the employer. The changes will be managed by Mercer Super and communicated directly with members.

Mercer Super and Anglican Super will be in touch with employers shortly after 1 December 2023 with updated disclosure documents and Benefits of Membership flyers for your employee on-boarding processes.

For those employees who are members of Anglican Super, Mercer Super will be sending formal confirmation of the changes via an ‘Important Notice’ communication on 30 October 2023.

In addition, Mercer Super will also host a number of virtual information sessions for members in the lead up to 1 December 2023 to provide further information and answer any questions. Members will receive invitations to attend these sessions.

There are also a number of helpful resources on the Anglican Super website including six education modules to help members navigate insurance and equip them with knowledge to make the right choices and take comfort in the enhancements.

Remember, the changes only impact those employees who are members of Anglican Super.

Employees can view their insurance cover via logging on to their online account at mercersuper.com.au, and can contact the Mercer Contact Centre number for further assistance – 1800 682 525.