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1 BOCSUPER This document is for permanent employees of BOC Limited. Retained and Spouse members should refer to their version of the Insurance information document.

2 Contents 3 Overview 4 Automatic insurance 5 Disability income cover 7 Total and permanent disablement cover 8 Standard death cover 10 Additional voluntary death insurance cover 14 Other important information 17 Risks of insurance 18 Insurance terms explained This document, for members who are Permanent BOC employees (Category A), contains further information on your insurance in BOC Super. The information in this document forms part of the BOC Super Product Disclosure Statement for BOC employees dated 1 May There is a separate Insurance information document for other members. Contact us BOC Super GPO Box 4303 Melbourne VIC (03) BOCSuperAdministration@mercer.com BOC Super provides valuable insurance benefits to eligible permanent employees. Benefits include a monthly disability income benefit and lump sum benefits which are payable on death or total and permanent disablement. Disability income and standard death and TPD cover are made available for you FREE by BOC. They may provide you and your family with peace of mind and financial protection if sickness, injury or death occur. You can also increase your death cover by applying for additional voluntary insurance cover, with the cost deducted from your account in BOC Super. Read inside for more information about the insurance benefits including the amount of cover, costs, important conditions and exclusions. Important information This information should be read in conjunction with the other documents which form part of the Product Disclosure Statement (PDS). Information in the PDS is general information only and does not take account of your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances before making a decision about the product. Any examples included are for illustration only and are not intended to be recommendations or preferred courses of action. Neither the Trustee, BOC Super nor BOC Limited (the Company) can provide you with financial advice. The Trustee can only provide factual information or general superannuation advice. Information contained in this document that is not materially adverse may be updated if it changes. Updated information can be found at In addition, we will provide a hardcopy free of charge on request, by contacting the Helpline on Issued by BOC Superannuation Pty Ltd ABN , AFS Licence No as Trustee of the BOC Gases Superannuation Fund ABN (BOC Super). MySuper Authorisation number Insurance cover is provided by OnePath Life Limited ABN AFSL ( the Insurer ) and is subject to the terms and conditions of the insurance policy issued to BOC Super by OnePath Life Limited (the Insurance Policy). This document provides a summary of the key terms and conditions of the Insurance Policy. Where information is summarised in a brochure, information guide, or document other than the Insurance Policy itself, it does not represent a complete description of the terms on which the insurance cover is provided. The Insurance Policy represents the concluded agreement between BOC Super and the Insurer and, in the event of an inconsistency with this document, the terms of the Policy prevail. You can contact BOC Super if you would like a copy of the Insurance Policy. OnePath Life Limited ABN AFSL consents to be included in this document in the form and context shown, and has not withdrawn their consent as at the date of this document. In this document, a reference to your employer, the Company or BOC means BOC Limited ABN and a reference to we or the Trustee means BOC Superannuation Pty Ltd. 2

3 Eligible permanent employees (full time or part time) are Category A members of BOC Super and can: z be automatically covered for a disability income benefit provided by BOC Super. You must work more than 14 hours per week and meet other conditions. The cost of this cover is met by BOC. z be automatically insured for standard death and total and permanent disablement (TPD) insurance cover. The cost of this insurance cover is met by BOC. Certain conditions apply. z top up your standard death insurance cover by applying for additional voluntary insurance cover. The first $200,000 of additional voluntary insurance cover is provided with no health questions being asked if you are a new member and apply within 90 days of commencing employment with BOC Limited and first joining BOC Super. z automatically continue any death and TPD insurance cover you have in BOC Super if you leave BOC but remain a member of BOC Super. You also have the option to apply to the Fund s Insurer to continue your death and disability income insurance cover as an individual policy if you leave BOC Super. There are risks associated with this insurance see page 17 for more information. Who provides this cover? The Company meets the cost of providing disability income cover and standard death and TPD insurance cover to permanent employees. BOC Super has appointed the Insurer to provide the Fund s disability income, death and TPD cover. Your salary for benefit purposes Salary for death benefit purposes is your annual salary at the date of your death. If you are on a Total Remuneration Package (TRP), your death cover is calculated on your TRP. Salary for disability income benefit purposes is your monthly salary prior to disablement. If you are a TRP employee, the benefit is calculated on your monthly [TRP less employer super contributions]. Conditions apply Like most forms of insurance, certain conditions (and exclusions) apply to the granting or payout of your death and disability cover. The payment of the full death, TPD or disability income benefit is subject to the provisions of the Trust Deed. For example, the disability income benefit will not be payable if the claim was the result of self-inflicted injury, or if you refuse to undergo treatment for your medical condition or refuse to undergo reasonable rehabilitation or re-training. More details on the conditions that apply to your insurance are included on the following pages. Approved leave If you take approved leave from the Company, your cover for death and disability income benefits will automatically continue for up to two years. Eligibility To be eligible for the disability income benefit and standard death and total and permanent disablement insurance, you must be: z aged 69 years or less for death and total and permanent disablement insurance, or aged 59 years or less for disability income insurance, z a permanent full or part-time BOC employee or contractor (under a fixed term contract of no less than six months), and z elect to join BOC Super as an Employee member on commencement of employment with BOC, and z an Australian or New Zealand citizen or a permanent Australian resident or a holder of a visa permitting residency and employment in Australia, and z not working in an excluded occupation. BOC employees do not work in excluded occupations however the Insurer reserves the right to refuse insurance coverage to anyone joining the Fund who works in an excluded occupation. Note, once you are accepted on joining employment by the Insurer, changing in the future to an excluded occupation will not impact your cover in BOC Super. To be eligible for disability income benefit, you must also be working an average of at least 14 hours per week

4 If you join BOC Super as an Employee member on commencement of employment with BOC, you are eligible for automatic FREE insurance without providing medical evidence for: z disability income benefit (provided you work more than 14 hours per week), and z standard death and TPD insurance. You can apply for up to $200,000 of additional death insurance without providing any medical evidence if you apply within 90 days of commencing employment with BOC Limited and first joining BOC Super. The cost of this insurance is deducted from your account. Automatic insurance is not available: z on the portion of your disability income benefit that exceeds $20,000 per month, or z on the portion of your standard death cover that exceeds $2 million, or z if you first apply for membership of BOC Super more than 90 days after commencing employment with BOC Limited, z if you cancel your cover or your cover ends under the Insurance Policy and you subsequently require cover to recommence, or z if you rejoin BOC Super after exercising choice of fund. In these cases, you will be required to complete the Insurer s Personal Statement and satisfy the Insurer s medical requirements before insurance commences. In addition to meeting the standard eligibility conditions outlined on page 3, you must be: z At Work performing your normal duties on your first day of employment (see page 18 for details). z not receiving or eligible to claim income support benefits from any source including workers compensation benefits, statutory motor accident benefits or disability income benefits (including government income support benefits). 4

5 If you are a permanent employee or eligible contractor (Category A member) under age 60 and covered for disability income cover, the Trustee may provide you with a benefit payment if you are unable to work due to illness or injury and meet the definition of disablement (see pages 18 to 19). To claim this benefit you will need to provide medical and other evidence to the Trustee and the Insurer that shows you have become disabled such that you are incapable of performing one or more of the duties of your usual occupation. You must also be following the advice of a medical practitioner in relation to your illness or injury. Cost The Company pays all of the costs of providing your disability income benefits in BOC Super. How is the benefit calculated? The benefit provides a monthly income equal to 75% of your monthly salary, plus your normal Company super contributions continue to be made to BOC Super (less any reductions as described in the following paragraphs). If you are remunerated on a Total Remuneration Package (TRP), your disability income benefit would equal 75% of [TRP less employer super contributions]. This will be inclusive of any payments still being made by the Company for you (e.g. car). In addition, your minimum Company super contributions continue to be made to BOC Super. The Insurer will pay a maximum of $30,000 per month for your disability income benefit including Company super contributions. The monthly income benefit payment is calculated by dividing 75% of your salary or [TRP less employer super contributions] amount by 12. If you are disabled for more than one year, the disability income benefit paid may be indexed by the lesser of the Consumer Price Index (CPI) or 5%. Indexation occurs on the anniversary of the date when your benefit payment commenced. Your monthly income will be reduced by any sick leave, paid parental leave, compensation payments, social security benefits, remuneration received from the Company or other income (other than investment income) you receive (or are entitled to receive) while disabled. Lump sum compensation payments received (or receivable) are also taken into account. If you were receiving other (non-company related) income prior to becoming disabled (e.g. from a casual weekend job), such income does not reduce your benefit. Also any annual leave, redundancy payments or long service leave entitlements you receive does not reduce your benefit. Disability income benefit example Mary is unable to work and earns a salary of $50,000. Her disability benefit is 75% of her salary, ie: 75% x $50,000 = $37,500 annual amount) $37, = $3,125 (monthly amount before tax or other deductions such as any reduction for social security payments). Her Company super contributions also continue to be paid to her BOC Super account. What is the waiting period? The waiting period is 30 days this is the period before any disability income benefit becomes payable. You must be disabled for longer than the waiting period to be eligible for a disability income benefit. During this period, you may return to work once to perform the normal duties of your occupation for up to five consecutive days without having to recommence the waiting period. If this happens, the Insurer will add the number of days of work to the waiting period. If you return to work performing your normal duties on more than one occasion, the waiting period starts again. Is medical evidence required to obtain cover? Medical evidence is not required if, on joining BOC Super when first eligible, your monthly disability income benefit is below the Fund s Automatic Acceptance Limit of $20,000. To be accepted automatically, you must meet the conditions for Automatic Insurance on page 4. Anyone not At Work as a result of injury or illness on the day they are first eligible to join BOC Super but who otherwise meet the conditions for Automatic Insurance will be covered for New Events only and not covered for any Pre-existing Condition until they return to work performing normal duties at which time they may become fully covered. See page 18 for the definition of At Work, Pre-existing Condition and New Events Cover. To obtain cover above the Automatic Acceptance Limit, you will be required to complete the Insurer s Personal Statement and provide evidence of good health. Medical evidence and completion of the Personal Statement will also be requested if your total disability income benefit increases above $20,000 per month or increases by more than 25% in a year. You should read the duty of disclosure section of this Statement carefully

6 If you join BOC Super at any time other than when you are first eligible, you will not be automatically accepted and will need to apply for disability income cover. BOC Super will ask you to complete the Insurer s Personal Statement and provide evidence of good health. Your cover will not commence until you have been accepted by the Insurer and will be subject to any conditions imposed by the Insurer. While your application for cover is being assessed by the Insurer, you will have limited cover for Accidents only. See page 18 for the definition of an Accident. The benefit payable will be the lower of the monthly disability income benefit you are applying for or $30,000 per month. BOC Super will advise you if your application is accepted and any conditions that may be imposed by the Insurer. When is the benefit paid? Benefits become payable after the expiry of the waiting period provided you satisfy the definition of disablement. Commencement will be delayed if you continue to receive paid sick leave. The benefit will be paid until: z you no longer meet the definition of disablement, or z you reach age 60, or z you die. While you are receiving monthly disability income benefits, you remain a member of BOC Super. Your minimum Company super contributions based on your pre-disability salary will be paid into your BOC Super account and your death and TPD cover will continue. Is there a partial disablement benefit? A partial disablement benefit is payable if you are unable to perform one or more duties of your usual occupation but have returned to work on a reduced salary. See page 18 for the definition of Partial Disablement. Are there other benefits? There are a number of other benefits available to assist your return to work if you are disabled. If you return to work and your disability recurs within six months of the earlier claim ending, the recurring disability will be treated as a continuation of the earlier claim and no new waiting period is required. The Insurer may also agree to pay up to three times your monthly benefit for workplace modifications in order to assist you to return to work. In certain circumstances, the Insurer may pay a service provider for a return to work program for you. Conditions No benefit is payable for the first 30 days you are absent from work due to illness or injury. Any payments are subject to income tax. Once your claim is approved the amount payable is reduced by any amounts being paid to you as described previously. The benefit payment is paid monthly in arrears. Your cover will continue for up to 90 days after leaving the Company, provided you have not received and are not entitled to receive a disability insurance benefit at the time of leaving the Company. No benefit will be payable if an exclusion applies. See pages 14 to 16 for other important information about your benefit, including details of the exclusions. 6

7 Eligible employee members are provided with total and permanent disablement cover (TPD). BOC Super provides this insurance cover at no cost to you all costs are paid by the Company. Your TPD insurance is a lump sum equal to $25,000 up to age 65. This insurance reduces by 20% each year after age 65 and ceases at age 70. This benefit would be paid if you satisfy the definition of TPD outlined on pages 18 to 19. If you receive a TPD benefit from the Fund, you can continue as a member of BOC Super and may also be eligible to receive ongoing monthly disability income benefits from the Fund as explained on page 5. You will also continue to have death cover in the Fund while you remain a member of BOC Super. You can only receive one TPD benefit from BOC Super. If you have qualified for a TPD benefit, you may also be able to withdraw some of your BOC Super account if you wish. For details of the tax that would apply, refer to How super is taxed in the Other information leaflet available on the website on the Documents and forms page or contact the Helpline. To remain as a Retained member of BOC Super, you must keep a minimum account balance of $5,000. Total and permanent disablement benefit example Jeff becomes TPD at age 60. He has $200,000 in his BOC Super account and has no further disability income benefit entitlements in the Fund. His TPD benefit is his TPD insurance plus his account balance: = $25,000 + $200,000 = $225,000 Jeff can choose to leave all or part (at least $5,000) of his benefit in the Retained section of the Fund which would mean he could continue his existing death cover. Is medical evidence required? You are automatically covered for TPD benefit if you meet the conditions for automatic insurance on page 4. Anyone not At Work as a result of injury or illness on the day they are first eligible to join BOC Super will be covered for New Events only and not covered for any Pre-existing Condition until they return to work performing normal duties at which time they become fully covered. See page 18 for the definitions of At Work, Pre-existing Condition and New Events Cover. If you join BOC Super at any time other than when you are first eligible, you will not be automatically accepted and will need to apply for TPD cover. BOC Super will ask you to complete the Insurer s Personal Statement and provide evidence of good health. Your cover will not commence until you have been accepted by the Insurer and will be subject to any conditions imposed by the Insurer. BOC Super will advise you if your application is accepted and any conditions that may be imposed by the Insurer. While the Insurer is assessing your application for cover, you will have limited cover which provides a benefit should you die as a result of an Accident while your application is being assessed. Limited cover stops once you are notified of the Insurer s decision or after 90 days, whichever is earlier. Cost The Company pays all the costs of providing your TPD insurance in BOC Super. If you wish to opt out of this insurance, write to BOC Super. Other important information No benefit is payable if an exclusion applies. See pages 14 to 16 for other important information about your benefit, including details of the exclusions

8 If you are a permanent employee of the Company (Category A member) and a member of BOC Super, BOC Super may provide standard death insurance cover at no cost to you. This entitles your beneficiaries to a lump sum payout in addition to your account balance if you die before age 70 while employed by the Company or while in receipt of a disability income benefit from BOC Super. Your standard death cover ceases when you reach age 70. A terminal illness benefit is also available under certain circumstances, see page 16 for details. Your death benefit payout is a lump sum payment equal to the sum of your: z account balance plus z death insurance cover. Death insurance cover is equal to: z 18% annual salary years & months from the date of death to 60. The amount of death insurance cover is subject to a minimum of $50,000 for all eligible members aged less than 70. No benefit is payable if an exclusion applies (see page 16). Examples of death cover for Category A (BOC employee) members are shown in the table below. Age at death Standard death insurance cover* as a multiple of annual salary or TRP Nil * For illustration purposes, calculations have been made assuming a member dies on the day of their birthday see the examples to the right. For details on how your salary is calculated for death and disability benefits, refer to page 3. Death benefit payout example Say Richard died aged 40 years and earned an annual salary of $65,000 at the time of his death. We assume his total account balance is $56,000. His standard death insurance cover would be: 18% $65,000 (salary) 20 (years until retirement) = $234,000 So, Richard s total death benefit payout would be: $56,000 + $234,000 = $290,000 Death benefit payout example 2 Say Lorna died aged 62 and earned an annual salary of $60,000 at the time of her death. We assume her total account balance is $100,000. Her standard death insurance cover according to the formula is nil. In this case, Lorna would receive the minimum of $50,000 of insurance. So, Lorna s total death benefit payout would be: $100,000 + $50,000 = $150,000 Is medical evidence required to obtain cover? Medical evidence is not required if, on joining BOC Super when first eligible, your standard death cover is below the Fund s Automatic Acceptance Limit of $2 million. To be accepted automatically, you must meet the conditions for automatic insurance on page 4. Anyone not At Work as a result of injury or illness on the day they are first eligible to join BOC Super but who otherwise meet the conditions for automatic insurance will be covered for New Events only and not covered for any Pre-existing Condition until they return to work performing normal duties at which time they become fully covered. See page 18 for the definition of At Work, Pre-existing Condition and New Events Cover. If you become a Category A (BOC employee) member of the Fund after you are first eligible or if your cover is greater than $2 million or your benefit increases by more than 25% in a year, you will be required to complete a full health questionnaire using the Insurer s Personal Statement (available at or from the Helpline) and provide evidence of good health. Any insurance not automatically provided is subject to acceptance by the Fund s Insurer and to any conditions imposed by the Insurer. While the Insurer is assessing your application for cover, you will have limited cover which provides a benefit should you die as a result of an Accident while your application is being assessed. Limited cover stops once you are notified of the Insurer s decision or after 90 days, whichever is earlier. If you die on or after age 70 If you die on or after age 70 while working for the Company, your death benefit is calculated in the same way as if you had retired the day you died (i.e. the total of your account). In such a case you would not be entitled to any death insurance cover. Cost The Company pays all of the costs of providing your standard death insurance cover.* * If you wish to opt out of this insurance, write to BOC Super. 8

9 Payment of death benefits Any death benefit will normally be paid to your dependants and/or your estate. BOC Super allows you to nominate your preferred beneficiaries and allows you to decide whether to make your nomination binding on the Trustee. By nominating your preferred beneficiaries, you advise the Trustee how your death benefit should be shared among them. If you prefer, or if you have no dependants, you can nominate your estate. A payment to your estate should mean distribution according to your will, or according to law if you do not have a will. The payment of the death benefit is subject to the provisions of BOC Super s Trust Deed as well as wider legislative provisions. The Trustee is bound by the law relating to payment of death benefits for superannuation funds. Whilst the Trustee endeavours to pay such benefits as quickly as possible, in some cases there may be a significant period between the date of death and the time the benefit is paid to your beneficiaries due to the legal processes involved. For more details on who receives your death benefit and making a nomination of preferred beneficiaries see the Other information leaflet available on the website at under Product Disclosure Statements on the Documents & forms page

10 How it works BOC Super allows permanent employees to apply to top up their standard death insurance cover in the Fund. This extra cover is called additional voluntary death insurance cover and provides an additional lump sum payment if you die while you are a member of the Fund. If you should die while covered, the additional voluntary death insurance cover is paid, as well as your BOC Super account balance and any standard death insurance payment you receive from the Fund. The fee for this insurance is deducted from your account in the Fund. Additional voluntary death insurance cover is made available at bulk rates which may be cheaper than those you can obtain individually outside the Fund. Special offer: up to $200,000 of additional voluntary death insurance cover Eligible members are able to buy up to $200,000 of additional voluntary death insurance cover through the Fund without the need to complete a health questionnaire. Your application must be made within 90 days of commencing employment with BOC Limited and first joining the Fund. This is an easy and convenient way to top up your insurance. Normally all applications for additional voluntary death insurance cover require the completion of a health questionnaire. See page 8 for more details on when health information is required. Who is eligible? You must be a permanent employee of BOC Limited and a member of the Fund. You must also be an Australian or New Zealand citizen or a permanent Australian resident or a holder of a visa permitting residency and employment in Australia. You must be under age 70 when you apply. How much insurance cover can I have? There is no limit on the amount of additional voluntary death insurance cover you can apply for. The Insurer may require financial justification for large amounts. There must be enough money in your account to meet the insurance fees. All additional voluntary insurance, except the special offer of $200,000 of additional voluntary death insurance cover, is subject to acceptance by the Fund s Insurer. The Insurer may require the satisfactory completion of a health questionnaire. See page 12 for details. How much does the cover cost? The cost depends on the amount of cover you apply for, your age and whether your occupation is classified as white collar or blue collar. See page 11 for details. Annual fees for each age and occupation class are shown in the tables below and on page 12. Each month, the fee for any additional voluntary death insurance cover you may have in the Fund is deducted from your account in BOC Super. Annual fee* per $1,000 death insurance (white collar) Age next birthday at 1 July Cost $ Age next birthday at 1 July Cost $ * Insurance fees are deductible against contributions tax paid by the Fund and result in a rebate to the member. 10

11 Do I qualify as white collar? The insurer classifies your occupation as either white collar or blue collar. To qualify as white collar, you must: zwork in an office or similar environment zbe employed for at least 14 hours a week on an ongoing basis zspend at least 80% of your working time in an office, and zwork in an occupation that involves management, clerical, marketing, administration, accounting or other sedentary duties. If your occupation doesn t fit the definition of white collar, it will be classified as blue collar. EXAMPLE Lee works as a delivery driver. He is aged 36 and wants $300,000 of additional voluntary death insurance cover. His age next birthday is 37. From the blue collar table of fees (see page 12), he sees that each $1,000 of insurance for a BOC Super member aged 37 next birthday costs $0.56 p.a. His insurance initially costs: 300 $0.56 = $168 per year $ = $14 is deducted from his account in BOC Super each month to pay for this additional voluntary death insurance cover. The cost of the additional voluntary death insurance cover increases each year on 1 July as Lee gets older. The amount of the additional voluntary death insurance cover ($300,000 in this example) is fixed; it will not change unless Lee arranges to vary his cover. Provided Lee applies for the additional voluntary death insurance cover within 90 days of commencing employment with BOC Limited and first joining BOC Super, he will receive up to $200,000 of cover available under the special offer without completing a health questionnaire. However, in order to obtain the additional $100,000 of cover, Lee is required to complete a short health questionnaire. He will only be provided with the total $300,000 of cover if the Insurer accepts his application. If Lee should die while a member of BOC Super, and if he has been accepted for the total cover of $300,000, all of this additional voluntary insurance would be paid to his dependants or his estate, as well as his BOC Super account balance and the amount of his standard death insurance cover. EXAMPLE Jackie works in an office in administration. She is aged 39 and wants $200,000 of additional voluntary death insurance cover. Her age next birthday is 40. From the white collar table of fees (see previous page), she sees that each $1,000 of insurance cover for a BOC Super member aged 40 next birthday costs $0.48 p.a. Her insurance initially costs: 200 $0.48 = $96 per year $96 12 = $8 is deducted from her account in BOC Super each month to pay for this additional voluntary death insurance cover. The cost of the additional voluntary death insurance cover increases each year on 1 July as Jackie gets older. The amount of the additional voluntary death insurance cover ($200,000 in this example) is fixed; it will not change unless Jackie arranges to vary her cover. If Jackie applies for this insurance within 90 days of commencing employment with BOC Limited and first joining BOC Super, she is not required to complete a health questionnaire. If Jackie should die while a member of BOC Super, $200,000 of additional voluntary death insurance would be paid to her dependants or her estate, as well as her BOC Super account balance and the amount of her standard death insurance cover

12 Annual fee* per $1,000 death insurance (blue collar) Age next birthday at 1 July Cost $ Age next birthday at 1 July Cost $ * Insurance fees are deductible against contributions tax paid by the Fund and result in a rebate to the member. When is health evidence required? If you apply for up to $200,000 of additional voluntary death insurance cover within 90 days of commencing employment with BOC Limited and first joining BOC Super, you do not have to answer any health questions. If you apply for more than $200,000 of additional voluntary death insurance cover or apply outside the timing of the special offer outlined above, you need to answer health questions. For up to $750,000 of additional voluntary death insurance cover you must complete a short health questionnaire contained in the Additional Voluntary Death Insurance Application form. You may also be asked to provide more information about your health. If you require more than $750,000 of additional voluntary death insurance cover, the Insurer requires you to complete a separate full health questionnaire using the Insurer s Personal Statement. You should read the duty of disclosure section of this Statement carefully. If you choose to join or re-join BOC Super as a contributing employee member at some point more than 90 days after commencing employment with BOC Limited or you cancel your cover or your cover ends under the Insurance Policy and you subsequently require cover to recommence, you will be required to complete a full health questionnaire before any insurance cover can be made available. 12

13 How do I apply for additional voluntary death insurance cover? You can apply at any time. To apply you need to complete the Additional Voluntary Death Insurance Application form. The form includes the Insurer s short health questionnaire, which must be completed if you are applying for up to $750,000 of cover. If you are applying for more than $750,000 of insurance cover, you also need to complete the Insurer s separate Personal Statement. This can be obtained from the Helpline on or downloaded from If you wish to take advantage of the special offer outlined on page 10 and you require up to $200,000 of additional voluntary death insurance cover, you do not need to provide any health information. To take advantage of the special introductory offer, your Additional Voluntary Death Insurance Application form must be received by the Fund Administrator within 90 days of commencing employment with BOC Limited and first joining BOC Super. You will be advised whether your application has been successful. Limited cover While the Insurer is assessing your application for additional voluntary cover, you will have limited cover which provides a benefit should you die as a result of an Accident while your application is being assessed. Limited cover stops once you are notified of the Insurer s decision or after 90 days, whichever is earlier. How do I change my cover? You can reduce or cancel your additional cover by completing the Insurance Change form. Forms are available on the website or contact the Helpline. Can I take out additional voluntary TPD cover? No this is not available to employee members of BOC Super. Other important information No benefit is payable if an exclusion applies. See pages 14 to 16 for other important information about your benefit, including the exclusions

14 What happens if I leave employment with BOC? You are able to continue your membership of BOC Super as a Retained member if your BOC Super benefit is $5,000 or more. Your standard death and TPD insurance cover will also continue automatically (unless you choose otherwise) but the costs of this cover will now be deducted from your BOC Super account instead of being paid for by the Company. Your additional voluntary death insurance cover will also continue automatically in the Retained section of BOC Super unless you choose otherwise or your cover ceases (see page 15 for details). You would also be able to apply for further additional voluntary death and total and permanent disablement insurance cover which is available to BOC Super Retained members. Your disability income cover continues for up to 90 days after leaving employment. You may also be able to apply to the Insurer to continue your disability income insurance as an individual policy outside BOC Super, see below for the conditions for this policy. Can I continue my disability income insurance? When you leave BOC, you can apply to the Insurer to continue your disability income cover as a retail policy at your own expense. You must do this within the earlier of: z 60 days of being issued BOC Super s exit letter, or z 90 days of leaving the Company s employment. Medical evidence will not be required but any restrictions, limitations or loadings you had while employed will apply to the new policy. A number of conditions apply: z you must be less than age 60 z you must not be receiving or be eligible to receive a disability income benefit from this or any other policy providing similar benefits z you must satisfy residency requirements or hold a working visa, and z you must be engaged in a new occupation that is acceptable as an insurable occupation and working the number of hours required. A continuation option is not available if the Insurer s policy is terminated. A continuation option is not available if you join BOC Super and become a Retained Member by subsequently deciding to have your super contributions paid to another fund. No cover is provided for the period between the BOC Super disability income cover ending and the time that cover starts under the individual policy. You must not have received or be eligible to receive benefits under this policy or any policy issued by the Insurer providing similar benefits. A continuation option is not available if the Insurer s policy is terminated. Can I continue my death insurance cover if I leave BOC Super? If you leave BOC Super for reasons other than injury or illness, you have the option to apply to continue your death insurance cover under the Insurer s continuation option. This means you may apply for an individual death insurance policy with the Insurer for an amount up to the total insured death cover which you had in the Fund without the need to provide full evidence of good health at that time. This option is not available for TPD cover. You must: z be age 60 or less z apply in writing within 60 days of leaving BOC Super z be residing in Australia z pay one month s insurance fees and complete an application which includes details of your occupation, sports and pastimes, residence, travel and smoking status, and z satisfactorily answer questions regarding AIDS. You must not have received or be eligible to receive benefits under this policy or any policy issued by the Insurer providing similar benefits. A continuation option is not available if the Insurer s policy is terminated. No cover is provided for the period between the BOC Super death insurance cover ending and the time that cover starts under the individual policy. The cost of the individual policy may be more than that paid in BOC Super and any individual restrictions, limitations and loadings that applied to your cover in BOC Super will apply under the individual policy. Can I continue my total and permanent disablement insurance if I leave BOC Super? There is no option to continue this insurance on leaving BOC Super. 14

15 What happens if I choose another Fund? If you join BOC Super and subsequently decide to have your super contributions paid to another fund, you will become a Retained member (provided your account balance is over $5,000) otherwise you will need to leave BOC Super. Your death and TPD insurance cover will continue automatically in the Retained section of BOC Super unless you choose otherwise, but your disability income cover will cease. You are not able to apply to continue your disability income benefit as a personal insurance policy in this case. The cost of your ongoing death and TPD cover will be deducted from your BOC Super account. You would also be able to apply for further additional voluntary death and total and permanent disablement insurance cover which is available to BOC Super Retained members. All cover stops if you leave BOC Super. If you choose another fund on starting employment with BOC, or if you remain employed by BOC and choose to leave BOC Super and then later re-join BOC Super, you will be required to complete a full health questionnaire before any insurance cover can be made available. When does my disability income insurance cover end? Disability income cover ceases without the need for us to inform you on the earliest of the following dates: z the Insurer s policy ends z you reach age 60 z you commence active duty with the armed forces of any country z you die z the earlier of: z 90 days after you leave service with the Company z the day you start an individual policy with the Insurer under the Fund s continuation option (described on page 14), z the day you commence employment with another employer or commence working as a contractor z if you are not an Australian Resident and hold a visa, the date you are not eligible to work in Australia (because you no longer hold a valid visa or for any other reason) or the date you depart Australia unless the overseas trip is for three months or less z you are on employer approved leave for more than two years unless the Insurer has agreed for cover to continue z you work overseas for more than five years unless the Insurer has agreed for cover to continue, or z the date you cancel your cover z the date the Insurer cancels the policy if the insurance premium is not paid. When does death and TPD insurance cover stop? You will stop being insured, without the need for us to inform you, on the earliest of the following dates: z the Insurer s policy ends z you reach age 70 z the date you cancel your cover z you commence active duty with the armed forces of any country z you die z a TPD benefit is paid to you (death cover will continue) z a terminal illness benefit equal to your full death benefit is paid to you z the earlier of: z for TPD cover, 60 days after you leave service with the Company and you do not have ongoing cover as a Retained member z for death cover, 90 days after you leave service with the Company and you do not have ongoing cover as a Retained member z the day you start an individual policy with the Insurer under the Fund s continuation option (described on page 14) z the day you commence employment with another employer or commence working as a contractor z you are on employer approved leave for more than two years z if you are not an Australian Resident and hold a visa, the date you are not eligible to work in Australia (because you no longer hold a valid visa or for any other reason) or the date you depart Australia unless the overseas trip is for three months or less z you work overseas for more than five years unless the Insurer has agreed for cover to continue

16 What are the exclusions? Disability income cover Disability income benefit is not paid if the claim is caused: z by any intentional self-inflicted act, or z by war, or act of war in Australia, New Zealand or a member s country of residence, or z if you die on war service, or z by pregnancy, unless you are disabled for more than three months after the end of the pregnancy, in which case the waiting period starts on the later of the date total disability begins and the end of the pregnancy. The Insurer may reduce or refuse to pay any benefits if: z you are in prison or on remand, or z you do not comply with claim requirements, or z if the Insurer s assessment or claim is prejudiced by them not being advised of the start of your disability. Death and TPD insurance No insurance amount will be paid for death or TPD or terminal illness caused z by war, or act of war in Australia, New Zealand or a member s country of residence, or z if you die on war service. The Insurer may reduce or refuse to pay any benefits if: z you do not comply with claim requirements, or z if the Insurer s assessment or claim is prejudiced by them not being advised of the start of your disability. Am I covered overseas? Cover is provided worldwide regardless of whether you are away on holiday or business. If you work overseas, cover continues for up to five years if you are an Australian citizen, New Zealand citizen or a permanent Australian resident. If you wish to apply to the Insurer to extend your cover, you must do so before the five year anniversary of your leaving Australia. Extension of your insurance is at the discretion of the Insurer. Cover for non-australian residents ceases on departure from Australia unless the overseas trip is for three months or less. If you travel or reside overseas for a period greater than six months while claiming a disability income benefit, payment of your benefit will cease. Payments will only resume if entitlement to a disability income benefit is established during a period when you reside in Australia. Claims overseas If you die overseas, the Insurer may require proof of death of either the original death certificate or a copy certified by the Australian Embassy in the country in which you die. If this is not produced, the Insurer may refuse to pay the insured benefit. If you claim a TPD benefit or a terminal illness benefit whilst outside of Australia, the Insurer can require you to return to Australia at your own expense for your claim to be assessed, If you refuse, the Insurer may refuse to pay the benefit. What if I take approved leave? If you take approved leave from the Company, BOC Super will continue to provide standard death, TPD and disability income cover, at the Company s expense, for up to two years. After two years, that cover will cease. Is there a terminal illness benefit? Yes, your total death insurance cover (up to a maximum of $2.5 million) will be paid if you satisfy the definition of terminally ill. You are regarded as terminally ill when two medical practitioners certify in writing that the terminal illness is likely to result in your death within 12 months from the date the opinion is provided to the Insurer in writing (Written Certification). One of the medical practitioners must be a specialist approved by the Insurer. The Written Certification must be dated during the period that you are insured for death cover under the Insurance Policy. The terminal illness benefit is not a stand-alone benefit it is an advance payment of the insured part of the death benefit payable from BOC Super. If your total insured death cover is greater than $2.5 million, the balance is payable on your death provided you are under age 70 when you die, you have continued to pay premiums and the policy is still in place. Your BOC Super account is payable in addition to your total insured death cover. Payment of a benefit from the Fund on terminal illness will be subject to the relevant preservation and taxation rules. You may be requested to provide additional medical certification for the benefit to be paid to you in cash and free of tax. 16

17 The Trustee uses the Insurance Policy to meet the insurance benefits payable on death and TPD. Your insurance cover is subject to the terms of the Insurance Policy and if the Insurer imposes restrictions or special conditions on your death and TPD insurance cover or refuses to pay a claim, the Trustee has the power under the Trust Deed to adjust your benefits accordingly. As a result, there are a number of risks associated with the restrictions and special conditions that may be imposed by the Insurer. These include: z the risk that, even if your insurance claim is accepted, it may take some time for the payment to be made. For example, it can take some time for the Insurer to obtain all the required information to assess the claim z the risk that the Insurer may decline your claim in certain circumstances, for example, if you or your dependants make an insurance claim following a death or TPD that was caused by war z the risk that you are not covered because you are not eligible for cover under the Insurance Policy z the risk that the Insurer may decline (or defer) your application for cover or additional voluntary cover, which may also affect your ability to obtain insurance cover in the future, and z the risk that the Insurer may not provide cover if you work overseas for a period of more than five years (or three months for holders of certain visas) or take more than two years of employer approved leave

18 Accident: for Category A (BOC employee) members, accident means a fortuitous, external event which was unexpected and unintended causing death or injury. The following situations are not accidents, and any claims arising from these situations are excluded where limited cover for Accident applies: z one of the contributing causes of death or injury was any of the following conditions: z illness z disease z allergy z any gradual onset of a physical or mental infirmity z the injury or death, which was unintended and unexpected, was the result of an intentional act or omission or z the Insured Member was injured or died as a result of an activity in respect of which they deliberately assumed the risk or courted disaster, irrespective of whether he or she intended injury or death. At Work: means the member is: z actively performing all the duties of his or her usual occupation z working his or her usual hours free from any limitation due to illness or injury and z not in receipt of and/or entitled to claim income support benefits from any source including Worker s Compensation benefits, statutory motor accident benefits or disability income benefits (including government income support benefits). Beneficiary: a person for whom benefits are held in a fund, including members and their dependants. Disability superannuation benefit: for tax purposes, a superannuation benefit paid because you suffer from ill-health (whether physical or mental); and two legally qualified medical practitioners have certified that because of the ill-health, it is unlikely that you can ever be gainfully employed in a capacity for which you are reasonably qualified because of education, experience or training. Disability income benefits insurance: insurance on your income, to ensure you re paid a percentage of your salary if you stop work due to disability or illness. You will need to meet the applicable definition of total disablement/totally disabled to qualify for such a benefit. New Events Cover: means you will not be covered for any Pre-existing Condition (see to the right for more information on Pre-existing Conditions). You will only be covered for an illness which became apparent to you, or any injury which occurred to you, on or after the date that cover commenced, recommenced or increased (as applicable) under the Insurance Policy. Partial Disablement: for Category A (BOC employee) members, partial disablement means solely as a result of illness or injury, the member is: z incapable of performing one or more of the duties of his or her usual income necessary to produce income but has returned to work in their usual occupation or is working in another occupation and has a monthly salary less than their predisability salary, and z following the advice of a medical practitioner in relation to their illness or injury for which they are claiming. Pre-existing Condition: means an injury that first occurred, or an illness which first became apparent, to the insured member, or an directly or indirectly-related condition, before the date cover in respect of that insured member commenced, recommenced or increased. Total disablement/totally disabled: for Category A (BOC employee) members, total disability or total disablement means solely as a result of illness or injury, the insured member is z medically certified as being incapable of performing one or more duties of their usual occupation necessary to produce income z not engaged in any occupation, and z following the advice of a medical practitioner in relation to their illness or injury for which they are claiming. Total and Permanent Disablement/ Totally and Permanently Disabled/ TPD means: TPD Definition 1 You must satisfy all of the following (a), (b), (c) and (d): (a) be aged 64 years or less on the Event Date; (b) be Gainfully Working for an average of at least 14 hours per week as a Permanent Employee (including an eligible Contractor) on the day immediately prior to the Event Date; and (c) have either: (i) worked for at least 6 consecutive months or more immediately prior to the Event Date; or (ii) worked for less than 6 consecutive months immediately prior to the Event Date but has in fact worked for an average of 14 hours or more per week since commencing cover under the Policy; and 18