Equip MyFuture. Why insurance cover is important. Types of cover available. 24/7 cover

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1 Equip MyFuture 08 Why insurance cover is important The information in this document forms part of the Product Disclosure Statement of Equip MyFuture dated 30 September Insurance can help to protect you and your family s financial security in the event of injury, illness or death, either by covering your income or by providing a lump sum payment. Your individual insurance requirements are dictated by your personal and financial circumstances which will change as your life changes. We can help you determine the most appropriate cover for your circumstances. Types of cover available Death cover provides a lump sum benefit for your dependants (eg partner or children) or for your legal personal representative (eg executor of your estate) should you die. Learn more about death cover on pages 2-6. Total and permanent disability (TPD) cover provides a lump sum payout to help you cover your financial commitments if you become totally and permanently disabled. Learn more about TPD cover on pages 2-6. Salary continuance (SC) cover provides you an income if you cannot work due to total or partial disability, as a result of injury or illness. This benefit helps you to continue paying your expenses while you are away from work for up to 2 years. Learn more about SC cover on pages Terminal illness cover pays an advance payment of your insured death benefit, if you suffer from a terminal illness. Learn more about terminal illness cover on page 7. 24/7 cover Your cover applies 24 hours a day, seven days a week whether you are at work or elsewhere. Payment of an insured benefit is subject to the terms and conditions of the insurance policies issued by Hannover Life Re of Australasia Ltd (ABN ; the insurer), taken out by Equip to cover its members. Learn more about the payment of benefits on page 6. Only the main features of the insurance policies relating to benefits are set out in this guide. Other conditions may apply. For a copy of the full policy terms and conditions, please contact our Helpline. For the definitions of important insurance words and terms, see the last page in this guide. Product Disclosure Statement (PDS) The information in this additional guide (Guide) forms part of the Product Disclosure Statement for Equip MyFuture (PDS). The final authority on any issue relating to Equip is the Trust Deed governing Equip, any applicable Participation Agreement and the relevant insurance policy. This Guide is issued by the Trustee and contains a summary only. It is for general information and has been prepared without taking into account your personal objectives, financial situation or needs. You should consider whether this information is appropriate to your personal circumstances before acting on it and, if necessary, you should also seek professional financial advice. Where tax information is included you should consider obtaining personal taxation advice. This Guide was up to date at the time when it was prepared. Some information in this Guide is subject to change from time to time. If a change does not adversely affect you, we may update it by insertion on our website at and/or inclusion in the next available edition of our newsletter. Any updated information may be found by logging into the members' area of our website or calling our Helpline A paper copy of updated information will be given to you without charge on request. Equipsuper Pty Ltd ABN , AFSL ( Equip ) is the Trustee of the Equipsuper Superannuation Fund ABN ( the Fund ).

2 2 Overview of cover Below is an overview of what cover you will receive when you first join Equip. My employer has a tailored (default) arrangement with Equip My employer is a member of Traffic Management Association of Australia (TMAA) My employer does not have a tailored arrangement or I do not have an employer What cover do I get automatically upon joining? Death and TPD cover equal to 4 times your salary for permanent employees. If your employer does not provide salary data or you are not a permanent employee, 4 units of death and TPD cover. Total cover cannot exceed $1.2 million. Cover gradually reduces from age units of limited* death and TPD cover 1 unit of limited* death and TPD cover What additional cover can I apply for within 120 days of starting with my employer? What cover can I apply for at any time? You can increase death and TPD cover up to 6 times salary or 6 units, or apply for SC cover, by completing the simple health statement in your membership form. You can increase death and TPD cover up to 6 units, or apply for SC cover, by completing the simple health statement in your membership form Increase death, TPD or SC cover up to the maximum cover limits by completing the Personal Statement that can be found on our website. Increase death, TPD or SC cover up to the maximum cover limits by completing the Personal Statement that can be found on our website. *Limited cover means you are covered for any illness or injury that was diagnosed after your cover started. This limitation applies for the first 24 months of your cover and is removed when you are at work performing all the duties of your usual job for 30 consecutive days. The 30 consecutive days starts on the anniversary date 24 months after the date your cover started. Death and total and permanent disablement cover What death and TPD cover you get in Equip Depending on whether your employer does or doesn t have an arrangement with Equip, you will be eligible for one of the death and TPD packages below. Cover when you join through an employer who has a tailored arrangement with Equip You will automatically receive death and TPD cover equal to 4 times your salary once you become a member, provided we receive: within 120 days of you starting employment, employer contributions for you; and your salary and employment status information from your employer. If your employer does not provide us with your salary information and employment status when you first join, you will be provided with 4 units of death and TPD cover. Also, if you re not a permanent employee you will be provided with 4 units of death and TPD cover. If you are not at work on the date your cover commences, you will only be covered for limited death and TPD for a period of 24 months plus 30 consecutive days that you have been at work. If these requirements are not met, you will not automatically receive cover, and you will need to apply for cover. The maximum amount of cover you can receive automatically is $1.2 million. Cover when you join through an employer who is a member of TMAA You will receive 4 units of limited death and TPD cover when you become a member of Equip and within 120 days of starting with your new employer we receive employer contributions for you for the period since you have commenced employment. If these requirements are not met, you will not automatically receive cover, and you will need to apply for cover. Cover when you join through an employer without a tailored arrangement or you do not have an employer The first time you join Equip you will automatically receive one unit of limited death and TPD cover when we receive your completed application and within 60 days there are sufficient funds in your account for a premium to be deducted. Eligibility for automatic acceptance Any member joining must satisfy all conditions to be eligible for cover, including the following: You must be an Australian resident, or a New Zealand citizen who is residing and working in Australia, and be between the minimum entry age (15) and the cover ceasing age (65 for TPD cover and 70 for death cover) You must not already have a member account open in Equip. You must not be applying for, intending to apply for or have been paid a TPD or terminal illness benefit from any Australian superannuation fund or life insurance policy.

3 3 Increase your death & TPD cover when you join Increase your automatic salary based cover or unit based cover with a few questions You can increase your 4 times salary based cover up to 6 times your salary or your 4 units of cover up to 6 units within 120 days of starting with your new employer by satisfactorily completing a simple health statement. If you have been given one unit of cover on joining, you need to complete the Change your insurance cover form and Personal Statement to increase your cover. Changing your cover at other times Equip offers flexible insurance options to meet your changing needs. You can change the type and amount of death and TPD cover you have at any time. In some cases, you may have to provide health evidence and fill in the Personal Statement. Generally speaking, if you want to decrease or cancel your cover, you can do this by filling in the Change your insurance cover form. In most cases, if you apply to increase your cover, you will need to complete the Personal Statement. You have complete flexibility by filling in the Change your insurance cover form for the following scenarios: change your multiple of salary, death and/or TPD cover; change the number of units of death and/or TPD cover; change the amount of fixed death and/or TPD cover; or decrease or cancel your death and/or TPD cover. Some of the other common changes you may want to make are summarised in the table below. When you will need to complete the Personal Statement You will need to complete the Personal Statement when: you apply to increase your multiple of salary or unit based cover more than 120 days after you started with your new employer; you request to change your cover from fixed or unit based cover to a multiple of salary; your salary based cover is more than $1.2 million; or you can t satisfactorily answer the questions in the simple health statement. Maximum cover amount Whilst death cover has no limit, TPD cover has a maximum cover limit of $3 million (including amounts of cover under all life policies from which you benefit, whether with Equip s insurer or any other Australian life insurer). Decrease or cancel your cover You can choose to reduce or cancel the amount of death or TPD cover you have at any time by completing a Change your insurance cover form. Increase your cover after a life event You can apply to increase your insurance cover due to a life event without the need to complete the Personal Statement. You must apply within 90 days of the life event. A life event happens when: you get married or divorced; you purchase a residential home for your permanent residence with a mortgage of $100,000 or more on that residence; you or your partner gives birth or adopts a child; or you take out a new business loan of more than $100,000. When a life event occurs, you can apply for the following: if your cover is on a multiple of salary basis, an additional one times your salary; if your cover is on a fixed cover basis, the lesser of 25% of your current automatic cover or $200,000 or the value of the loan; or if your cover is on a unit cover basis, an additional one unit. Certain conditions apply in relation to life event cover: you must be at work; you can only apply for an increase as a result of a life event once in a 12 month period and can only use each life event once; you can only apply for the increase for the same type of cover you currently hold; you must provide us with sufficient proof that your life event occurred; and your insured amount cannot exceed $1.2 million. Type of change Employer has a tailored arrangement with Equip Employer is a member of Traffic Management Association of Australia (TMAA) Employer does not have a tailored arrangement or you do not have an employer Change your insurance basis You can switch your unit based cover to multiple of salary or fixed cover at any time, which may be subject to underwriting. You can switch your unit based cover to fixed cover at any time subject to underwriting and your age. You can switch your unit based cover to fixed cover subject to underwriting and your age. Change multiples of salary Yes, with underwriting No No Transfer your insurance from another fund Life events Yes, up to a limit and subject to age and certain conditions outlined on page 4. You can apply to increase your insurance cover due to defined life events without the need to complete the Personal Statement. You must apply within 90 days of the life event and can increase the amount of your cover once per year.

4 4 To be eligible to apply for a life event increase of your insurance: you must be an existing Equip MyFuture member with insurance on the date your life event occurred; you must be aged less than 55 on the date of your application; your existing cover in Equip MyFuture must not be subject to any special conditions, restrictions, exclusions or premium loading; you must not have previously been declined cover under the Fund s policy; and you must not have applied for a TPD or terminal illness or like benefit from the Fund, any Australian superannuation fund or life insurance policy. You can apply for a life event increase by completing the Application for a life event insurance cover increase form available from our website or the Helpline on Automatic changes to the amount of your cover Salary based cover increases If your cover is based on a multiple of salary, the amount of your cover can automatically increase, up to $1.2m as long as your employer notifies us of a salary increase. The increase will take effect from the next 1 January or 1 July after the increase applies and we are notified of the increase. If you are not at work on the date of the increase, the increased amount of your cover will be limited cover until you ve been at work and performing your normal duties for 30 consecutive days. If your salary decreases, the amount of your cover will not automatically decrease. Reduction of cover scale for salary and fixed basis death and TPD cover The amount of your cover will decrease starting from your 61st birthday. The table below shows the percentage of the decrease in cover for each year. Your age % of original death cover amount % of original TPD cover amount % 100% 61 90% 80% 62 80% 60% 63 70% 40% 64 60% 20% 65 50% 0% 66 40% 0% 67 30% 0% 68 20% 0% 69 10% 0% 70 0% 0% The above reduction percentages apply regardless of when your insurance cover commenced in Equip. So if you first commenced membership with insurance cover at age 64, the amount of insurance cover you selected would be equal to 60% for death cover and 20% of the selected amount for TPD. Transferring your cover from your previous super fund You can transfer your death and TPD insurance cover from your previous super fund to Equip without the need for underwriting, subject to a maximum of $600,000 of total cover within Equip. However, your cover with your previous fund must not be subject to any premium loading, restriction or exclusion in regard to medical conditions. Once you have transferred cover into the fund, your total cover becomes fixed cover. To apply to transfer your cover, you need to: complete the Transfer your insurance cover to Equip form; provide a copy of your most recent benefit statement from your previous fund showing the type and amount of cover you held; and once cover has been accepted with Equip, cancel your existing cover under your previous fund and not reinstate or continue cover under any circumstances. If you continue cover under your current fund, this will negate any right to claim under Equip s policy for the amount of the transferred cover. Your cover will commence from the date a satisfactorily completed form is received. You re covered while you re applying for cover If your application for cover or increased cover requires you to complete the Personal Statement and be underwritten, while your application is being considered by the insurer you are covered for death and TPD caused by accidental injury for the increased amount up to $1.5m from the date we receive your completed application and Personal Statement. You will be covered under accident cover for the same type of cover death and TPD or death only - that you have applied for. When does accident cover cease? Your accident cover will cease upon the first occurrence of any of the following: the insurer agrees to provide the cover you applied for or offers you alternative cover; your application is declined or withdrawn; 90 days lapses from the commencement of accident cover; or all cover is terminated under the policy. Combining your cover in Equip MyFuture If you have two accounts in Equip MyFuture, you can apply to combine them. The amount of cover you have in each account will be added together and converted to fixed cover. Any individual restrictions, conditions, exclusions or loading will continue to apply unless the insurer agrees otherwise. To consolidate your accounts, please complete the Request to consolidate your Equip accounts form.

5 5 The cost of death and TPD insurance cover Below and over the page are the standard premium rates members pay for their cover. If you joined Equip through Goodyear and associated companies, Minda, PSGA or employers affiliated with the Traffic Management Association of Australia, then we assumed that you are in a risky job and you are paying up to 2.5 times the standard Equip insurance premiums. If you are in a low risk job, you can apply to pay our standard premium rates using the Reduce your premium loading form. You can only remove the loading associated with the automatic cover you received when you joined Equip. Salary based and fixed cover Premiums for all death and TPD cover are based on an annual cost per $1,000 of cover. Premiums are calculated and deducted on the last day of each month, based on your level of cover and age. If your account does not have sufficient funds to pay your premium when it is due, your cover will cease. Rates per $1,000 sum insured premiums The table shows the annual cost of $1,000 of death only or death and TPD insurance cover. Age next birthday Death Death & TPD 16 $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.19 $ $0.20 $ $0.23 $ $0.24 $ $0.27 $ $0.30 $0.69 Age next birthday Death Death & TPD 42 $0.34 $ $0.39 $ $0.47 $ $0.53 $ $0.60 $ $0.68 $ $0.76 $ $0.87 $ $0.96 $ $1.09 $ $1.21 $ $1.38 $ $1.58 $ $1.78 $ $2.03 $ $2.28 $ $2.61 $ $3.04 $ $3.65 $ $4.17 $ $4.87 $ $5.61 $ $6.08 $ $6.69 $ $ $ $ $ $10.76 Calculating your salary based or fixed cover death and TPD premium If you are 37 years old and you have been provided with death and TPD cover 4 times your salary and your salary is $80,000, your death and TPD cover would be $320,000. Your annual premium would be calculated as: Premium = $(320,000 1,000) x premium at age 38 next birthday = 320 x $0.51 = $ per annum (prorated and deducted in monthly instalments) This is an example only. If any aspect of your insurance cover requires underwriting, your final premium is subject to assessment and confirmation by the insurer.

6 6 Unit based cover Unit based cover provides a set dollar amount of cover for each unit and changes with your age. The table below shows the amount of cover for a death and TPD unit and a death only unit. You can choose to have death and TPD cover or death only cover. The cost of each unit of death and TPD and death only cover can be calculated using the table below. If your account does not have sufficient funds to pay your premium when it is due, your cover will cease. Units of insurance cover amount and cost per unit Age next birthday Death only cover per unit Death only cost Death & TPD cover per unit Death & TPD cost 16 to 36 $50,000 $9.50 $50,000 $ $50,000 $10.00 $50,000 $ $50,000 $11.50 $50,000 $ $50,000 $12.00 $50,000 $ $50,000 $13.50 $50,000 $ $50,000 $15.00 $50,000 $ $50,000 $17.00 $50,000 $ $50,000 $19.50 $50,000 $ $50,000 $23.50 $50,000 $ $45,000 $23.85 $45,000 $ $40,000 $24.00 $40,000 $ $35,000 $23.80 $35,000 $ $30,000 $22.80 $30,000 $ $25,000 $21.75 $25,000 $ $22,500 $21.60 $22,500 $ $20,000 $21.80 $20,000 $ $17,500 $21.18 $17,500 $ $16,250 $22.43 $16,250 $ $15,000 $23.70 $15,000 $ $13,750 $24.48 $13,750 $ $12,500 $25.38 $12,500 $ $11,250 $25.65 $11,250 $ $10,000 $26.10 $10,000 $ $8,750 $26.60 $8,750 $ $7,500 $27.38 $7,500 $ $6,250 $26.06 $6,250 $ $5,000 $24.35 $5,000 $ $3,750 $21.04 $3,750 $ $2,500 $15.20 $2,500 $ $2,500 $16.73 $1,250 $ $2,500 $ $2,500 $ $2,500 $ $1,875 $18.36 Example: A 40-year old member eligible for 4 units of cover would initially receive total cover of $200,000, and pay premiums of $138 (200 x $0.69). Calculating your unit based death and TPD premium If you are 37 years old and you have been provided with 4 units of death and TPD cover, your death and TPD cover would be $200,000. Your annual premium would be calculated as: Premium = 4 x $25.50 (premium at age 38 next birthday) = $102 per annum (prorated and deducted in monthly instalments) This is an example only. If any aspect of your insurance cover requires you to complete the Personal Statement, your final premium is subject to assessment and confirmation by the insurer. Premiums for Goodyear and TMAA members are 2 times (200%) the amount shown in the table above; for PSGA members, they are 2.5 times (250%). However, if you work in an office, you may be able to remove your higher premiums by satisfactorily answering a few questions. Payment of benefits When is a total and permanent disablement benefit payable? Equip and its insurer will consider a claim on the basis of your total and permanent disablement if, while you are insured, something happens to you that results in one of the following 3 situations. You will need to provide certain medical evidence relevant to each situation to support your claim. Definitions of disablement 1. You are unlikely to work or unable to perform everyday working activities. You are considered to have suffered total and permanent disablement if you are a permanent employee working 15 or more hours each week within the 6 months prior to the date of your disablement and you are unable to do any work as a result of injury or illness (whether physical or mental) for 3 consecutive months and, at the end of that 3 months, in the opinion of the insurer, you continue to be so disabled that you are unlikely to resume any occupation which you are reasonably capable of performing by reason of education, training or experience. You will be required to submit medical reports by 2 legally qualified medical practitioners who have certified that because of ill health, it is unlikely that you will be gainfully employed in a capacity for which you are reasonably qualified because of education, training or experience. If you were not a permanent employee or not working 15 or more hours each week in the 6 months prior to the date of your disablement, you may still be considered to have suffered total and permanent disablement if you suffer an illness or injury that prevents you from performing at least 2 everyday working activities (EWA) without assistance from someone else, despite the use of appropriate aids, for at least 6 consecutive months, and, since you became ill or injured, you have been under the regular care and attention of a doctor for that illness or injury; and in the insurer s opinion, the illness or injury means that you are unlikely to ever again perform at least 2 of the EWA without assistance from someone else, despite the use of appropriate aids; and in the insurer s opinion you are unlikely to ever again return to work which you are reasonably capable of performing by reason of education, training or experience. 70 $1,875 $20.18

7 7 In the event of a claim, the insurer will determine which definition applies to you based on your employment status. EWA means: Mobility you cannot: walk more than 200m on a level surface without stopping due to breathlessness; or bend, kneel or squat to pick something up from the floor and straighten up again, or get in and out of a standard sedan car. Communicating you cannot: speak in your first language so that you are understood in a quiet room, nor can you hear (even with a hearing aid or other aid) an instruction given in a normal voice in your first language in a quiet room; or understand a simple message in your first language, and relay that message to another person. Vision you cannot, even with glasses, read ordinary newsprint and pass the standard eyesight test for a car licence. Lifting you cannot lift, carry or move objects weighing up to 5kg using your hands. Manual dexterity you cannot use your hands or fingers to manipulate small objects with precision. 2. You suffer the loss of limbs and sight You are considered to have suffered total and permanent disablement if you suffer the permanent and irrecoverable loss of the use of 2 limbs, or the sight of both eyes, or the permanent and irrecoverable loss of the use of one limb and the sight of one eye and you continue to be so disabled that you are, in the insurer s opinion, unlikely to resume any occupation which you are reasonably capable of performing by reason of education, training or experience. Immediate assessment for certain illnesses and injuries If you are unable to perform your usual job as a result of suffering one or more defined medical conditions, the insurer will waive the usual 3 month waiting period and will start the assessment of your claim on receipt of your initial claim documentation. The illnesses and injuries that can be assessed immediately are blindness, cardiomyopathy, chronic lung disease, dementia and Alzheimer s disease, diplegia, hemiplegia, loss of hearing, loss of speech, major head trauma, motor neurone disease, multiple sclerosis, muscular dystrophy, paraplegia, Parkinson s disease, primary pulmonary hypertension, quadriplegia, severe burns, severe rheumatoid arthritis, and tetraplegia. Terminal illness benefit You may be eligible for a terminal illness benefit if you have a disease or condition that in the opinion of 2 doctors, who are approved by the insurer, including one who is a specialist practising in the relevant field, is likely to lead to your death within 12 months from the date of diagnosis. The date of diagnosis of the terminal illness must be after the date that insurance cover commenced. You must supply, at your own expense, supporting medical evidence from your doctors and any requested additional information. The immediate benefit payable to you will be the lesser of your death benefit or $3,000,000. The terminal illness benefit is considered an advance payment of your death benefit. Provided you continue to be insured and pay your insurance premiums, any residual death benefit will be paid on your death. Should you lodge a claim for a terminal illness benefit, you will no longer be eligible for TPD cover. You will no longer be eligible to increase the amount of your cover or reinstate cover you previously had. Death benefit: A death benefit is payable to your dependants and/or legal personal representative(s) in the event of your death. The loss of use means: the permanent loss of sight as a result of illness or injury to the extent that the visual acuity on the Snellen Scale eye chart is 6/60 or less in both eyes, or to the extent that visual field is reduced to 20 degrees or less of arc irrespective of corrected visual acuity, or the loss of the use of a leg from at or above the ankle, or an arm from at or above the wrist, which is permanent. 3. You suffer cognitive loss You are considered to have suffered total and permanent disablement if the insurer determines there has been a total and permanent deterioration or loss of intellectual capacity which has required you to be under the continuous care and supervision of another adult person for at least 3 consecutive months and, at the end of that 3 month period, you are likely to require permanent, on-going continuous care and supervision by another adult and you continue to be so disabled that, in the insurer s opinion, you are unlikely to resume any job which you are reasonably capable of performing by reason of education, training or experience.

8 8 Salary continuance cover Employer has a tailored (default) arrangement with Equip Employer is a member of Traffic Management Association of Australia (TMAA) Employer does not have a tailored arrangement or I do not have an employer What can I get within 120 days of starting with my employer? What can I get at any time? Complete the simple health statement on the application form to apply for 75% or 85% of your salary for up to $10,000 of SC cover per month. Complete the simple health statement on the application form to apply for SC cover of $3,000 per month. Complete the Change your insurance cover form and the Personal Statement to apply for up to $30,000 of SC cover per month. Complete the Change your insurance cover form and the Personal Statement to apply for up to $30,000 of SC cover per month. Salary continuance (SC) cover provides you with an income for up to 2 years if you are temporarily unable to work due to injury or illness. An SC benefit would be paid to you when you: suffer a total disability; or are partially disabled after being totally disabled for a period of at least 7 days out of 12 consecutive days. What cover can I get when I first join Equip You will not get any automatic SC cover when you join. The table on this page outlines the cover you can apply for in Equip. Eligibility for SC To be eligible for SC cover, you must be a member of the Fund an Australian resident aged between 15 and 65. The insurer may otherwise agree that you are eligible. If you join through an employer who has a tailored arrangement with Equip If you are a joining member of an employer who has an existing tailored agreement with Equip, you can easily apply for cover of up to 75% or 85% of your salary with a 90 day waiting period. To be eligible, you need to be a member of Equip, a permanent employee working at least 15 hours a week and complete the simple health questionnaire included in the application form, within 120 days of starting with your new employer. We also need to receive employer contributions for you for the period since you started employment. If your employer does not provide us with your salary information, you can apply for fixed cover of $3,000 per month. If you join through an employer who is a member of TMAA If you are a joining member of an employer who is a member of TMAA, you can easily apply for fixed cover of $3,000 per month with a 90 day waiting period. To be eligible, you need to be a member of Equip, a permanent employee working at least 15 hours a week and complete the simple health questionnaire included in the application form, within 120 days of starting with your new employer. We also need to receive employer contributions for you for the period since you started employment. If your employer does not have a tailored agreement with Equip or if you don t have an employer If you are a joining member of an employer who does not have an existing arrangement with Equip or if you do not have an employer, you can apply for fixed SC cover by completing the Change your insurance cover form and the Personal Statement. If your application is accepted by the insurer, you can receive up to $30,000 of cover a month. Applying for SC cover at other times You can apply for SC cover of up to $30,000 per month by completing the Change your insurance cover form and the Personal Statement. Waiting periods Any claim for an SC benefit is subject to a waiting period. When applying for cover, you can choose a waiting period of 90, 60 or 30 days. Shorter waiting periods attract higher premium rates and may require you to answer more questions about your health and work status. If you need to make a claim, your waiting period starts from the date you first receive medical advice from a doctor who certifies that you were totally disabled on that day. At the end of the waiting period and once your claim has been accepted, payment will be made during the following month and will cover any amounts in arrears commencing from the end of the waiting period.

9 9 Payment of benefits (SC) In the event that an SC benefit is payable to you, you would receive the lesser of your insured cover or 75% of your monthly income plus up to a 10% superannuation contribution (if you have been accepted for the 85% benefit), paid monthly for up to 2 years from the expiry of your chosen waiting period. The benefit you receive may be reduced by any other disability income. If you return to work in a reduced capacity during that 2 year period, you may still receive a partial benefit. The calculation of your monthly income used for paying an SC benefit is determined by your employment circumstances immediately prior to the date of disability. If you are a permanent employee working 15 hours or more a week with an employer who has a tailored arrangement with Equip, the insurer will calculate your income as one-twelfth of your annual pre-tax income. Otherwise the insurer will calculate income based on one-twelfth of your annual pre-tax income received over the 12 months immediately prior to the date of disability. A different calculation of income applies if you own all or part of the business that is your employer. For the purpose of SC cover, your income is considered to be: your current annual pre-tax salary from your employer, immediately before you were disabled excluding all other payments your employer might pay you and excluding any income derived from a source other than your employer; or if you directly or indirectly own part or all of a business or practice which is your employer, the annual share of the income of the business or practice generated by your personal exertion in the previous 12 months after the deduction of your share of expenses in generating that income. Other disability income, which would reduce the benefit we pay, includes any benefit under any workers compensation, motor accident compensation or other similar State, Federal or Territory legislation, and payments by way of sick leave or any other entitlement to payment from your employer that arises as a result of incapacity, or any other income derived as a result of incapacity under any other insurance policy. If you were to suffer a partial disability, the amount payable would be reduced by any actual monthly income earned or income that you were capable of earning during the month of partial disability. The insurer will regularly review your disablement and income status to ensure you are still eligible for SC payments during the 2 year benefit period. If you are suffering a partial disability and have not received any income, the Insurer may make a reasonable estimate of what you would have been capable of earning taking into account the extent of your disability. Approved rehabilitation benefit If you suffer partial or total disability and there is a rehabilitation program that is likely to assist with your return to work, you can ask the insurer to approve that rehabilitation program and if it does, the insurer may pay for the cost of the program in addition to any benefit that is payable to you. When is a SC benefit payable? Equip and its insurer will consider a claim for an SC benefit, while you are insured, when you suffer a total disability or a partial disability. Total disability means you have a disability caused solely by an injury or illness and you are: unable to perform at least one income producing duty of your job; and under the regular care of, and following the advice of a doctor; and not working in any job, whether for reward or not for reward. An income producing duty is a duty of your job immediately before you became disabled which generates 20% or more of your monthly income. The insurer may also pay an SC benefit in relation to partial disability where, directly before suffering partial disability, you suffered total disability continuously for a period of at least 7 days out of 12 consecutive days. Partial disability occurs where you have ceased to suffer total disability and you: have resumed partial employment; or are deemed capable of returning to partial employment duties; and as a result of the injury or illness that caused your total disability, you receive, or in the Insurer s opinion you would receive, a post disability income that is less than your monthly income; and are under the continuous and regular care of a doctor undergoing appropriate treatment. A period of disability will be deemed to be a continuation of an earlier period of disability, if the disability is caused by the same medical condition and is separated from the previous period of disability by a period of less than 6 months active full time work. Death benefit: If you die while a total disability or partial disability benefit is being paid, the insurer will pay an additional lump sum death benefit equal to 3 times your monthly benefit. You re covered while you re applying for cover If your SC application requires you to fill in a Personal Statement, while your application is being assessed and processed, you will have accident cover from the date we receive your complete application. However, if you suffer a total disability as a result of an injury during this time, you will be covered for the lesser of the amount of cover you are applying for and $10,000 a month, for a maximum period of up to 24 months. We will pay the monthly benefit as if you were insured with a 90 day waiting period. When does accident cover cease? Your accident cover will cease when any of the following first occur: your application has been accepted, refused or withdrawn; alternate cover is offered by the insurer; 90 days lapses from the commencement of this accident cover; or all cover is terminated under the policy.

10 10 The cost of SC insurance cover Premiums for SC cover are based on an annual cost per $1,000 of cover. Premiums are calculated and deducted on the last day of each month, based on your level of cover and age. If your account does not have sufficient funds to pay your premium when it is due, your cover will cease. Premiums for members whose employer is a member of TMAA are 3 times the amount shown below, for PSGA members they are 2.5 times, unless otherwise advised by the insurer during underwriting. Age next birthday 30 days 60 days 90 days Female Male Female Male Female Male 16 $3.69 $2.64 $3.14 $2.24 $1.53 $ $3.69 $2.64 $3.14 $2.24 $1.53 $ $3.69 $2.64 $3.14 $2.24 $1.53 $ $3.69 $2.64 $3.14 $2.24 $1.53 $ $2.87 $2.64 $2.44 $2.24 $1.14 $ $2.92 $2.67 $2.48 $2.27 $1.16 $ $2.96 $2.71 $2.51 $2.30 $1.13 $ $3.00 $2.75 $2.55 $2.33 $1.11 $ $3.03 $2.77 $2.58 $2.36 $1.09 $ $3.07 $2.82 $2.61 $2.39 $1.06 $ $3.09 $2.85 $2.62 $2.40 $1.04 $ $3.20 $2.86 $2.72 $2.43 $1.03 $ $3.27 $2.93 $2.77 $2.48 $1.02 $ $3.37 $3.01 $2.86 $2.56 $1.02 $ $3.47 $3.10 $2.95 $2.63 $1.03 $ $3.59 $3.20 $3.05 $2.72 $1.04 $ $3.72 $3.32 $3.16 $2.82 $1.06 $ $3.93 $3.30 $3.34 $2.81 $1.16 $ $4.23 $3.42 $3.59 $2.91 $1.21 $ $4.38 $3.47 $3.73 $2.95 $1.26 $ $4.68 $3.64 $3.97 $3.09 $1.32 $ $5.01 $3.81 $4.26 $3.23 $1.40 $ $5.41 $4.02 $4.60 $3.41 $1.48 $ $5.90 $4.22 $5.02 $3.59 $1.58 $ $6.08 $4.35 $5.18 $3.69 $1.68 $ $6.46 $4.61 $5.50 $3.92 $1.82 $ $6.78 $4.85 $5.77 $4.12 $2.10 $ $7.03 $5.02 $5.97 $4.27 $2.21 $ $7.42 $5.30 $6.31 $4.51 $2.47 $ $7.92 $5.66 $6.73 $4.81 $2.60 $ $8.09 $5.78 $6.88 $4.91 $2.97 $ $8.69 $6.20 $7.38 $5.27 $3.21 $ $9.23 $6.60 $7.86 $5.61 $3.44 $ $9.77 $6.97 $8.30 $5.92 $3.78 $ $10.12 $7.60 $8.60 $6.45 $4.12 $3.21 Female Male Female Male Female Male 51 $10.78 $8.08 $9.16 $6.87 $4.50 $ $11.51 $8.64 $9.78 $7.34 $4.93 $ $12.43 $9.32 $10.57 $7.93 $5.41 $ $13.45 $10.08 $11.43 $8.57 $5.94 $ $14.56 $11.13 $12.38 $9.46 $6.67 $ $15.66 $11.97 $13.31 $10.17 $7.33 $ $17.03 $12.94 $14.47 $11.06 $8.50 $ $18.56 $14.18 $15.78 $12.06 $9.20 $ $20.27 $15.50 $17.24 $13.17 $10.24 $ $22.19 $16.97 $18.87 $14.42 $11.33 $ $24.14 $18.44 $20.52 $15.68 $12.45 $ $26.54 $20.29 $22.56 $17.24 $14.10 $ $27.62 $24.67 $23.48 $20.97 $16.98 $ $23.42 $20.90 $19.90 $17.77 $13.92 $ $15.30 $13.66 $13.01 $11.61 $5.39 $4.46 Calculating your SC premium If you were a 37 year old male and your salary was $80,000, the salary continuance cover that you could obtain if you chose a 90 day waiting period and a 75% benefit would be $60,000 per annum ($80,000 x 75%). This would give you a monthly benefit of $5,000 for up to 2 years. The annual premium for this amount of cover would be calculated as: Premium = $(60,000 1,000) x premium for a male aged 38 next birthday = 60 x $1.37 = $82.20 per annum (prorated and deducted in monthly instalments) This is an example only. If any aspect of your insurance cover requires underwriting, your final premium is subject to assessment and confirmation by the Insurer. Salary based cover increases If your cover is based on a salary percentage, the amount of your cover can automatically increase, up to $10,000 a month as long as your employer notifies us of a salary increase. The increase will take effect from the next 1 January or 1 July after the increase applies and we are notified of the increase. If you are not at work on the date of the increase, the increased amount of your cover will be limited until you ve been at work and performing your normal duties for 30 consecutive days. If we are notified by your employer that your salary has decreased, the amount of your cover will automatically decrease from the next 1 January or 1 July. What if I return to work during the waiting period? If you return to work during the waiting period and the return proves unsuccessful due to the injury or illness causing total disability, then the original waiting period will continue if you returned to work for no more than 10% of the waiting period.

11 11 Hazardous occupations If your occupation is deemed as a hazardous occupation, you can still apply for approval from the insurer by completing the Hazardous occupation advice form available for download from our website. The list of hazardous occupations is on page 12. Indexation After 12 continuous months of receiving the income benefit, we will increase your monthly benefit by the lesser of the annual CPI percentage increase or 5%. General insurance information What happens to my cover while I am on employer approved leave? Your death, TPD and SC cover will continue while you are on leave, provided there are sufficient funds in your account to pay for the insurance premiums. What happens to my cover if I am overseas? Any death, TPD or SC cover you have with us will continue if you choose to work overseas for up to 3 years provided that: you remain a member of Equip throughout the period; and you have sufficient money in your account for premiums to be deducted. You may also need to return to Australia to make a TPD, terminal illness or SC claim. If you become entitled to a SC benefit whilst you are overseas, the benefit will not be paid for more than a total of 6 months whilst you remain overseas. However, if you remain entitled to the benefit, your benefit will again commence being paid from the date you return to Australia. What happens to my cover if I leave my employer? The death, TPD and SC insurance cover you held will continue after the date you ceased employment and premiums will be deducted. Your cover will continue whilst there are sufficient funds to cover your insurance premiums. Transferring membership from Equip Corporate If you are a previous Equip Corporate member and you ceased employment after 1 July 2016 and your superannuation account balance was transferred to Equip MyFuture when you ceased employment, any death and TPD insurance cover you held in Equip Corporate automatically transferred to your Equip MyFuture account. Any SC cover you held in Equip Corporate will also transfer to Equip MyFuture automatically. The amount of any death, TPD or SC cover transferred to your Equip MyFuture account is fixed cover equal to the amount of cover that you had in your Corporate account at the date you ceased employment. Information required by the insurer when claiming If you make a claim, the insurer will ask you to provide information to support your claim. The cost of providing this information is at your own expense however if you are asked to attend an interview or medical appointment arranged for you by the insurer, the insurer will pay the cost of it. Insurance conditions When your insurance stops death, TPD and SC Your insurance cover may cease under certain circumstances including: you reach your maximum insurable age (65 for TPD and SC benefits and 70 for death benefits); you commence service with the armed forces of any country other than the Australian Defence Force Reserves whilst performing duties in Australia; you are overseas for 3 or more years; you cease to be an Australian resident, or, in the insurer's opinion, leave Australia permanently; you are the subject of a fraudulent claim; there are insufficient funds in your account to meet the next premium that falls due; you cease to be an Equip member; your benefit transfers to the Eligible Rollover Fund; you die; you advise us that you no longer wish to be covered; for death and TPD, you or your dependants claim a benefit and the Insurer admits that benefit; for terminal illness, when we admit and pay a claim equal to your total death benefit If your cover has ceased, a claim for TPD will only be treated as having occurred before your cover ceased if you have not performed any form of work whatsoever since the cessation of cover. If you had a formalised graded return to work which failed within 12 months, the date of disablement will be the date you first ceased work. Exclusions when a benefit isn t payable Do not travel: No claim will be paid where it arose directly or indirectly as a result of war, an act of war, or as a result of having been in a country listed on the Department of Foreign Affairs & Trade website ( gov.au) as subject to a Do not travel warning. TPD/death: For any increase in cover you apply and are accepted for which requires you to complete the Personal Statement, this cover will not be payable if your claim arises directly or indirectly as a result of: death caused by suicide in the 13 month period commencing from the day that your increase in cover was accepted; disablement caused by self-inflicted injury or attempted suicide regardless of whether you were sane or insane at the time; and any other exclusions advised to you at the time of underwriting.

12 12 Salary continuance: Your benefit will not be paid if your claim arises directly or indirectly as a result of: self-inflicted harm or attempted suicide, regardless of whether you were sane or insane at the time; normal and uncomplicated pregnancy or childbirth. This exclusion includes multiple pregnancy, threatened or actual miscarriage, participation in an IVF or similar programme, discomfort commonly associated with pregnancy (such as morning sickness, backache, varicose veins, ankle swelling, bladder problems); your participation in a criminal act; your job being considered as a hazardous occupation (see below) and the insurer has not given prior approval; or any other exclusions advised to you at the time of underwriting. Is my job hazardous? Hazardous jobs include any of following duties: working as a support person, domestic helper or carer (whether in a paid capacity or not) for an organisation which provides such services to persons suffering from Acquired Immune Deficiency Syndrome (AIDS); air traffic controller; commercial pilot; professional sport person; earth drilling, mineral exploration, miner or person working with explosives; professional entertainer such as actor, dancer, musician and stage performer; fireman, police, fisherman, forestry worker; workers in the horse racing industry such as trainer, jockey and strapper; workers whose work requires them to work at heights such as rigger, scaffolder, roof worker and antenna erector; offshore oil rig worker; security guard, doormen, bouncer and person employed in crowd control; sheltered workshop employee; seasonal worker or employees in industries with casual workforce; underground or underwater worker; sex worker. Insurance words and terms At work means you are performing all the duties and hours of your usual job or, if on employer approved leave, you would otherwise be able to attend work and perform all your normal duties without restriction due to illness or injury. Limited cover means you are only covered for any illnesses or injuries that are diagnosed after your cover starts, restarts or increases. Permanent employee is either a long-term contractor or a person who: is employed for an indefinite duration; and is required to perform specified duties a regular number of hours each week; and is provided annual leave, sick leave and long service leave. A long-term contractor is a person engaged for a specific period of at least 12 months to complete a specific job. Monthly benefit is the lesser of your insured cover or 75% of your monthly income plus up to a 10% superannuation contribution (if you have been accepted for the 85% benefit). Monthly income the calculation of your income used for paying a salary continuance benefit is determined by your employment circumstances immediately prior to the date of disability. If you are a permanent employee working 15 hours or more a week with an employer who has a tailored arrangement with Equip, the insurer will calculate your income as one-twelfth of your annual pre-tax income. Otherwise the insurer will calculate income based on one-twelfth of your annual pre-tax income received over the 12 months immediately prior to the date of disability. A different calculation of income applies if you own all or part of the business that is your employer. Personal Statement / underwriting is the process the insurer uses to assess the risk of your policy. The risk is measured taking into account your current health, your past medical history and your family medical history. The first step in this process is to complete the Personal Statement. You may then be asked to provide health evidence. The results of this evidence will determine whether you are accepted for cover and if so, the policy terms and costs of your cover. Doctor is a registered medical practitioner who is legally qualified and properly registered to practice in Australia, New Zealand, the United Kingdom, the United States of America, Canada or such place as otherwise agreed by the insurer. That person may not be the member, the member's business partner or employer, or an immediate family member. Fixed cover is a death or TPD cover dollar amount that remains the same each year and the premium cost increases with your age. Fixed cover automatically reduces starting from when you turn 61. SuperRatings is an independent organisation that publishes ratings based on a comprehensive annual review of 500+ Australian superannuation products. For more information, you can visit the SuperRatings website The Platinum SuperRating is the top rating given to Australia s best superannuation products by SuperRatings. Equip was awarded a 10-Year Platinum rating, recognising ten consecutive years of Platinum performance for Corporate superannuation. The rating symbols and statement have been reproduced with the consent of SuperRatings. Equipsuper Superannuation Fund ABN USI SPIN EPL0100AU MySuper authorisation: Equipsuper Pty Ltd ABN AFSL Head office Level 12, 330 Collins Street Melbourne VIC 3000 Mail Equipsuper Pty Ltd GPO Box 4303, Melbourne VIC 3001 Member Services Representatives Helpline: Fax: (03) Publication No: ESP_IBR8_MyFuture_1117