If you have Death Only Cover (including Terminal Illness), in the event of your death, or you becoming terminally ill, you (or your beneficiaries/legal personal representative) will receive your superannuation balance plus your insured benefit as a lump sum payment.
Either you or your employer can choose from the three available options.
Death Only Cover options |
| Option |
Best suited if you want |
How it works |
| Salary-Linked Cover |
Cover that increases as salary increases. |
If you’re a permanent employee, your employer can choose to offer this option which calculates cover using factors including benefit multiple and salary. |
| Fixed Benefit Cover |
Stability of insurance benefits payable. |
If you’re a permanent employee, you or your employer can choose a dollar amount of cover. Each year the premium is adjusted to maintain cover at the nominated level. |
| Fixed Cost Cover |
Stability of insurance costs charged. |
If you’re a permanent employee, you or your employer can cover that is calculated based on the number of units chosen. The value of each unit is linked to a member's age and reduces with each passing year. |
Will a medical be required?
If HOSTPLUS Executive is your employer's default fund under Super Choice, or the compulsory fund under your employment terms and conditions, you may not have to provide evidence of your good health when applying for HOSTPLUS Executive Death Only cover if you contact us within a certain time period.
For a complete guide to the benefits, exclusions, premiums, and cover offered by each Death Only cover option, refer to the Member guide.