Bendigo SmartStart Super Tailored Cover (Personal division)

Transcription

1 Bendigo SmartStart Super Tailored Cover (Personal division) Tailored Cover Personal division Income Protection for Bendigo MySuper members The premium tables below show the Annual Premium Rates per $1,000 annual benefit for the Personal division under the Plan applicable to White Collar workers only. Rates include a 10% (plus GST) insurance administration fee that is paid to the Plan s administrator for the purposes of administering these insurance arrangements. Rates exclude Stamp Duty. Please use the Occupation Adjustment Factors table below to work out the cost of cover for your occupation category by multiplying the cost of cover you wish to apply for by the applicable Occupation Adjustment Factor. Stamp Duty will be added to the premium to determine the final annual premium payable. Refer to the Stamp Duty rates table below. Occupation Adjustment Factors Your premium under Tailored Cover will be adjusted by the Occupation Adjustment Factors indicated with this rate table, based on your occupation type. Where you do not supply your occupation, a Category 4 Blue Collar Occupation classification (see below) will apply to calculate your level of cover or premium. An Occupational Duties Questionnaire and Declaration form will be available from 1 January 2014 on our website at You will be able to compete and return this form to ensure the occupation rating applied to you is appropriate. An Occupation Rating Guide is also available on our website. Please note that these tables are intended as a guide only. Your premium will be calculated by our insurance provider, TAL Life Limited ABN AFSL (TAL) and may be subject to underwriting assessment. Category 1 - Professional Category 2 White Collar Category 3 Light Blue Collar Category 4 Blue Collar Definition Those with a tertiary qualification university degree or registration by a government body or professional institute (you must be using these qualifications, and such membership or registration is a pre-requisite for practising in the occupation in which you are currently working). TAL can also consider well established executives and senior managerial white collar workers with incomes in excess of $150,000 p.a., who have been in their industry for at least 5 years. Clerical, administration and managerial occupations involving office and travel duties. No manual work. Sales representatives not involved in any deliveries. Also includes occupations requiring a Centre for Adult Education (CAE) or university degree that also involve very light physical work (e.g. osteopath). Selected qualified tradespeople (e.g. domestic electrician, baker, builder), selected skilled technical workers engaged in light manual work only. Those who may supervise manual work (no more than 25% of their work time) and shop assistants. Includes those whose occupations are not limited to an office, where travel is an essential part of the job (e.g. agronomist). Qualified skilled tradespeople not included in Category 3 above and those involved in wholly manual duties where a degree of skill and experience is required (e.g. sheet metal worker, mechanic). Adjustment factor Income Protection Category 5 Heavy Blue Collar The occupation requires skills, experience and possibly licensing but is of a heavy manual nature or heavy equipment is used routinely in carrying out the role (eg. stonemason, bulldozer / bobcat operator, bricklayer). 2.50

2 Stamp Duty Please note that Stamp Duty differs per state and will be added to the premium to determine the final annual premium payable. Stamp Duty is subject to change. Refer to the table below for the applicable Stamp Duty rate for your state. State Stamp Duty rate* Queensland 9% New South Wales 5% ACT 6% Victoria 10% Tasmania 10% Northern Territory 10% South Australia 11% Western Australia 10% * Current as at 1 December 2013 Tailored Cover Personal division Income Protection The following table does not include commission and does not take into account the Occupation Adjustment Factors and Stamp Duty. Annual Premium Rates per $1,000 Sum Insuredannual benefit 2 Year Benefit Period Rates 30 Day Waiting Period Day Waiting Period

3 2 Year Benefit Period Rates 30 Day Waiting Period Day Waiting Period

4 Benefit Period to Age 65 Rates 30 Day Waiting Period 960 Day Waiting Period

5 Benefit Period to Age 65 Rates 30 Day Waiting Period 960 Day Waiting Period Sandhurst Trustees Limited ABN AFSL is the trustee and issuer of Bendigo SmartStart Super and Bendigo MySuper, both of which are part of The Bendigo Superannuation Plan ABN