Voluntary Insurance

The Scheme is able to offer additional voluntary insurance arrangements, underwritten by PrefSure Life Limited, on competitive rates.

There are three types of voluntary cover available, they are:

Lump Sum Death Benefit

You can apply for any amount of cover in $10,000 multiples, with a minimum amount of cover of $50,000 and a maximum amount of cover of $2,000,000.

Lump Sum Death and Total and Permanent Disablement Benefit

You can apply for any amount of cover in $10,000 multiples, with a minimum of $50,000 and a maximum of $1,600,000.

Salary Continuance Benefit

Cover is offered in $100 per month multiples, with a minimum of $1,000 per month and a maximum of $15,000 per month. The highest level of Salary Continuance Cover you may apply for is 75% of your monthly salary, rounded down to the nearest $100 (to a maximum annual salary of $240,000). The benefit is available for either a two-year period, or until age 65.

What are the Insurance costs?

The cost depends on the amount of cover you have, your age, your sex and your occupational classification.

Terms and Conditions

For all terms and conditions of voluntary insurance cover please refer to the terms and conditions of the policies. These policies and indicative costs can be attained from Member Services.

How do I find out more?

If you are interested in finding out more about the voluntary insurance, you can find more information, including a copy of our Voluntary Insurance booklet on the following web sites: