Plum Super Findex Staff Superannuation Plan Insurance Guide

Transcription

1 Plum Super Findex Staff Superannuation Plan Insurance Guide Preparation date 1 October 2016 Issued by the Trustee NULIS Nominees (Australia) Limited ABN AFSL The Insurer Insurance is issued by MLC Limited ABN AFSL The Fund MLC Super Fund ABN

2 This guide gives you information about the insurance available through your super. A financial adviser can help you decide if this insurance is right for you. Or, you can assess if you have adequate insurance using our free advice calculator, available when you log in to plum.com.au

3 Contents Your insurance in Findex Staff Superannuation Plan (Plan) 1 Death and TPD cover 3 SCI cover 8 Keeping your insurance when you leave your employer 12 Cost of insurance 13 The information in this Insurance Guide forms part of the Product Disclosure Statement (PDS) dated 1 July Together with the Investment Menu and Fee Definitions Flyer, these documents should be considered before making a final decision to invest. They are available when you log in to plum.com.au Proposed sale of MLC Limited Last year the NAB Group announced a plan to sell 80% of its insurance business (MLC Limited) to Nippon Life Insurance Company. This is planned to be completed late The proposed sale will not impact your insurance benefits (if applicable) or the terms and conditions applying to your insurance as set out in the PDS and in this Insurance Guide. In the future, should your insurance benefits or terms and conditions change, we ll notify you as required by law.

4 Your insurance in Findex Staff Superannuation Plan (Plan) We offer flexible insurance in the Plan so you can make sure you have the cover that suits your needs. MLC Limited (MLC) is the Insurer and we deduct premiums to pay them for your insurance cover. We can change the Insurer at any time if we believe this is in the best interest of members. Types of cover Standard cover You will automatically receive a level of standard death and total and permanent disablement (TPD) cover when you join the Plan, subject to your eligibility. You can then choose to tailor your level of cover to suit your needs. The following types of standard cover are offered through the Plan: death cover TPD cover, and SCI cover. Voluntary death and TPD cover Voluntary death only or death and TPD cover allows you to add extra insurance to your account in addition to your standard death and TPD cover, subject to your eligibility. Automatic Acceptance Limit (AAL) Where you are eligible for standard insurance cover, the Insurer will provide automatic acceptance and increases of that cover to reflect your salary increases up to a limit without you having to provide health evidence. This is referred to as the automatic acceptance limit (AAL). The AAL for standard cover is: $1.5 million for death and TPD cover one unit of cover for casual employees, and $15,000 per month for SCI cover. Overriding insurance policy Payment of an insured benefit is subject to the terms and conditions of the applicable insurance policy. This guide provides a summary of the main features of the insurance policy covering the Plan. Other conditions may apply. This guide should not be relied upon as a full and complete description of the terms and conditions of the insurance cover. Your benefit may be reduced if the Insurer refuses or restricts your cover or does not pay out all or part of the insured benefit when a claim is made. Contact us on for a copy of the Plan s insurance policy. Making sure you re eligible for cover You are eligible for cover if you: are under age 65 are an Australian resident or are eligible to work in Australia become a member of the Plan within 130 days of becoming an employee of Findex. If you join after 130 days, you will receive limited cover until you have been employed by your employer continuously for 12 months from the date cover commences are at work performing the normal duties of your occupation on the date you become eligible for cover. If you are not at work on this date, you will receive limited cover until you return to active employment for 60 consecutive days. All Findex employees who had previously exercised Choice of Fund will receive the default level of insurance cover on joining this Plan prior to 10 March If an employee who had exercised Choice of Fund joins the Plan after 10 March 2017 the default level of cover is subject to limited cover. Limited cover will be removed on the earlier of: the date you have been employed by your employer continuously for 12 months from the date cover commences, or the date you provide evidence of insurability and Insurer agrees to remove the limited cover restriction. Choice of Fund means an election from you, to not have your superannuation guarantee contributions paid to this Plan. Limited cover means you are covered for claims arising from: an illness that first became apparent, or an injury which first occurred on or after you first became eligible for cover. 1

5 Changing your cover You can change or cancel your insurance cover at any time by simply completing the Findex Staff Superannuation Insurance form. Insurance type Death Death & TPD You can apply for up to Unlimited (the maximum benefit limit for Terminal Illness is $3 million) Unlimited, including up to a maximum $5 million of TPD insurance The maximum cover you can apply for includes any existing policies you have and the insurance provided by your employer. Any request for voluntary cover or to increase your cover will be subject to health evidence being provided to and accepted by the Insurer. To provide health evidence you will need to complete the personal statement available at plum.com.au or by contacting us on If we need any further information from you we will let you know. If you cancel your cover your insurance will cease on the day we receive your request. If you decrease or cancel your insurance cover and later change your mind, you can reinstate your insurance, but you will need to provide satisfactory health evidence. When will your insurance cover start? Any standard insurance cover you are eligible for will commence from your first day of employment or on the day you are first eligible for cover and may be subject to Limited cover as outlined in Making sure you re eligible for cover. If you apply to change your standard cover or you apply for voluntary cover, your new level of cover will commence from the date the Insurer accepts your application and premiums are payable from that date. The Insurer may decline or place conditions or restrictions on your insurance cover as result of its assessment of the health evidence you provide. 2

6 Death and TPD cover Death and TPD cover can help you and your family remain financially secure if the unexpected happens. This cover provides a lump sum benefit to your beneficiaries or your legal personal representative if you die or to you if you are diagnosed with a terminal illness or suffer total and permanent disablement. Standard death and TPD cover Standard death and TPD cover is available to you through the Plan if you are under age 65, subject to eligibility. Permanent and fixed term employees Your standard death and TPD cover is calculated according to the below formula: Level of insurance cover x Superannuation salary x Future service The level of standard insurance cover provided under the Plan includes the following options: Level of insurance cover options 5% 10% 15% 20% (default) 25% If you do not make a choice, the default level of 20% cover will apply. Fixed term employment means employed for a fixed period of employment, determined at the commencement of your employment, and where you are in receipt of leave, sick leave superannuation and other entitlements normally associated with full time employment. Superannuation salary is your base salary. Future service is the number of years and complete months remaining to age 65. Casual employees Your standard death and TPD cover is one unit of death and TPD cover. The following table outlines the value of one unit of cover. Your benefit depends on your age and the number of units of cover you select. Age next birthday One unit of cover Age next birthday One unit of cover , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,900 Increase your standard cover without providing health evidence You can select up to the 25% level of cover (up to the AAL) without providing health evidence if you do so within 30 days of first becoming eligible to join the Plan. If you apply to increase your cover outside this period you will need to provide satisfactory evidence of health. 3

7 Voluntary death and TPD As a permanent or fixed term employee you can apply for voluntary death only or death and TPD cover of a nominated dollar amount. As a casual employee you can apply for units of voluntary death only or death and TPD cover Voluntary death only or death and TPD cover can be nominated up to the maximum cover as outlined in the Changing your cover section of this guide. You can apply for voluntary cover by completing the Findex Insurance form. You will need to provide satisfactory evidence of health before your cover is granted. Reduction of voluntary TPD cover Your TPD cover will reduce after you turn 61 to the following percentages of your cover at 60: Age TPD cover amount Example of a death and TPD benefit casual employees Peter is aged 40 (41 age next birthday). His account balance is $60,000. Peter has applied for seven additional units of death and TPD cover, which was accepted by the Insurer. Peter s standard death and TPD insured component would be: $114,900 x 1 unit of cover = $114,900 His total death and TPD benefit would be: Standard cover $114,900 Voluntary cover $804,300 Account $60,000 Death and TPD benefit $979, % 61 80% 62 60% 63 40% 64 20% 65 Nil Example of a death and TPD benefit permanent and fixed term employees John is aged 40 (41 age next birthday). His superannuation salary is $55,000 pa and his account balance is $60,000. John has applied for voluntary death and TPD cover of $50,000, which was accepted by the Insurer. John s standard death and TPD insured component would be: 20% x $55,000 x 25 = $275,000 His total death and TPD benefit would be: Standard cover $275,000 Voluntary cover $50,000 Account $60,000 Death and TPD benefit $385,000 4

8 Additional features of death and TPD insurance Life events cover You may be able to increase your death or TPD cover without providing medical evidence, if you apply within 90 days of one of the following life events occurring: Life event you have or adopt a child you get married or divorced you complete your first undergraduate degree at a Government recognised institution you have a child who starts secondary school you take out, or increase a mortgage Document required A certified copy of the birth certificate or adopting papers. A certified copy of your marriage certificate or divorce papers. A certified copy of the graduation confirmation from the Government recognised institution. A certified copy of the enrolment confirmation from the secondary school. A certified copy of the loan documents from the mortgage lender, including the amount of the drawdown loan. You can increase your cover by up to the lesser of 25% of your current death or TPD cover and $200,000. Cover is subject to proof of the event taking place being provided to and accepted by the Insurer. You are able to apply for life events cover once in any 12 month period, and up to three times in total while you remain a member of the Plan. To apply for life events cover you will need to contact us on Cover while overseas If you are an Australian resident your cover will generally continue while you are overseas provided premiums continue to be paid. You may be required by the Insurer to return to Australia at your own expense where necessary for medical treatment or assessment. Cover is provided to members 24 hours a day on a worldwide basis. Insurance consolidation Interim accident cover You can apply to add the insurance from your other super/insurance providers to the insurance you have with us. To do this, go to plum.com.au to access the Transfer your insurance form. If you have an accident and you die or suffer total and permanent disablement while the Insurer is assessing your application for cover the Insurer will pay you a lump sum benefit equal to the amount of death and TPD cover you ve applied for. Interim accident cover will commence from the date the Insurer receives a fully completed personal statement and declaration of health from you. Interim accident cover will cease on the earliest of; 90 days from the date the Insurer receives your fully completed application, the day your request for cover is withdrawn, approved or declined by the Insurer. An interim accident benefit will not be payable if: the injury occurred prior to the date you became eligible for cover an injury is caused by your participation in hazardous pastimes or sports that would not be covered under the Insurer s normal assessment guidelines, or the cover applied for would have been declined or you claim for an event/condition excluded under the Insurer s normal assessment guidelines. 5

9 Leave of absence Your death and TPD cover will continue if you commence leave without pay (such as maternity or study leave) provided: premiums continue to be paid prior to your leave, your employer has approved the period and any subsequent extension (not exceeding 24 months in total) of leave of absence in writing, and you remain an employee of your employer and a member of the Plan. The Insurer may approve cover beyond this period. You should request an extension by writing to us at least 60 days before your cover is due to cease. Please do not assume your cover has been extended until you have received written confirmation. Terminal illness benefit The Insurer may pay your insured death cover if you are diagnosed with a terminal illness, subject to a maximum of $3 million. Where you have an insured death benefit which is higher than $3 million, the difference between $3 million and your insured amount will become your new death cover. Premiums will be required to be paid on the reduced level of insurance cover. Terminal illness means an Illness or injury that, in the opinion of the Insurer, after consideration of medical evidence, including certification by two medical practitioners (at least one of which is a specialist in the relevant area), would reasonably be expected to reduce your life expectancy to not more than 24 months. Your reduced life expectancy must occur while you are covered by the insurance policy and for each of the certificates, the certification period has not ended. 6

10 Definition of TPD You are considered to be totally and permanently disabled if the Insurer is satisfied that at least one of the following options is applicable to you: If you are employed Permanently or in Fixed Term employment, at least 14 hours per week Less than 14 hours per week or in Casual employment Definition of TPD (a) You have been absent from your occupation solely through injury or illness for six consecutive months and have been regularly attending an appropriately qualified doctor and undertaking medical treatment recommended by the doctor, with respect to your injury or illness, and are incapacitated to such an extent that, in the Insurer s opinion, after consideration of medical and other relevant evidence, at the end of the six consecutive month period you are unable to ever engage in or work in any occupation, on a full-time or part-time basis, for which you are reasonably suited by education, training or experience. (b) You have been absent from your occupation solely through injury or illness for six consecutive months and after which time you have, in the Insurer s opinion after consideration of all evidence obtained, suffered a total and irreversible inability to perform at least two of the Activities of Daily Living, without the physical help of someone else. These activities include: bathing and/or showering, or dressing, or moving from place to place including in and out of bed and in and out or a chair, or eating or drinking, or using the toilet. In an occupation classified as home duties (c) You have been incapacitated through injury or illness for six consecutive months and after which time you are rendered, in the Insurer s opinion after consideration of all evidence obtained, completely unable to ever do any normal physical domestic household duties. 7

11 SCI Cover SCI cover provides you with a monthly income while you are unable to work so you can focus on getting better. Standard SCI Cover Standard SCI cover is available to you through the Plan if you are a permanent or fixed term employee working at least 14 hours per week and you are under age 65. SCI cover provides you with a replacement income of up to 75% x Monthly income up to a maximum of $30,000 per month, then 50% of your monthly income thereafter, up to $50,000 per month, plus 9.5% x Monthly income paid to your superannuation plan. Your SCI benefit is paid monthly in arrears while you are totally disabled for up to a maximum period to age 65 following the end of the 90 day waiting period. The monthly benefit in excess of $30,000 per month is limited to a maximum benefit period of 2 years. Your SCI benefit is indexed to the lesser of 5% and the consumer price index (CPI). Monthly income is one-twelfth of your superannuation salary. Example of SCI benefit From our earlier example, John has a superannuation salary of $55,000 pa. If John were to become totally and temporarily disabled, his insured benefit (after a 90 day waiting period) would be: 75% x $55,000 = $41,250 pa ($3, per month) When will benefits be reduced? Your SCI benefit will be reduced proportionately by benefits received or amounts that you are expected to receive from other sources, so that your total benefit does not exceed 75% of your monthly income (as applicable). Therefore, any benefits you may be entitled to from other sources such as (but not limited to) other disability benefits, workers compensation, or other compensation benefits will be considered when determining the amount of your SCI benefit. When won t a SCI benefit be paid? Benefits are not payable if your disability or loss arises directly or indirectly from: any intentional self-inflicted injury or any attempt to commit suicide normal and uncomplicated pregnancy or childbirth war or warlike operations service in the armed forces of any country (not including the Australian Army Reserve), or any other event or matter referred to in the insurance policy. When do SCI payments cease? If payable, your benefit will continue until the earliest of the following: the date your disability ceases the date you turn 65 benefit payments have been made for a period of up to age 65 you are no longer under the regular and continuous care of a doctor, or you fail to provide us with all requested information and other evidence reasonably required to assess your claim. less John s applicable rate of pay as you go (PAYG) tax. Plus 9.5% x $55,000 = $5,225 pa ($ per month) paid into his superannuation account. Claiming SCI You are considered to be totally and temporarily disabled (and therefore eligible to apply for a SCI benefit) if the Insurer is satisfied that because of injury or illness you are continuously: unable to perform at least one of the important duties of your own occupation under the care of and following the regular and continuous advice for treatment from a doctor in relation to that illness or injury, and not engaged in any occupation, paid or unpaid. 8

12 Additional features of SCI insurance Bereavement benefit* Payable on your death during receipt of a SCI benefit. This benefit will be paid as a lump sum amount equivalent to three times your monthly benefit from the date of your death. Cover while overseas Your cover will generally continue while you are overseas provided premiums continue to be paid. Your benefit will only be provided in full for the countries listed below. For other countries, SCI benefits will be paid for up to 12 months only, unless you return to Australia or an approved country. Approved countries: Hong Kong, New Zealand, Singapore, Japan, Switzerland, Belgium, Denmark, France, Germany, Italy, Netherlands, Sweden, the United Kingdom, the United States of America, Canada, or any other country agreed in writing. You may be required to return to Australia at your own expense where necessary for medical treatment or assessment. Emergency transport* Payable where as a result of suffering an illness or injury which results in your total or partial disability, you will require the use of emergency transport. This benefit is limited to $500, and is only payable where emergency transport costs are not recoverable from any other source. Family carer benefit* Payable where a member of your family leaves permanent employment to care for you. This benefit is payable for a maximum of six months and is the lesser amount of: the amount the Insurer estimates the carer would have otherwise earned; or a benefit of $2,000 per month. This benefit accrues and will commence from the later of the end of the waiting period and the date the family member leaves permanent employment to care for you. Interim accident cover If you have an accident and suffer temporary disablement while the Insurer is assessing your application for SCI cover the Insurer will pay your monthly benefit equal to the monthly amount you have applied for. Interim accident cover will commence from the date the Insurer receives a fully completed personal statement and declaration of health from you. Interim accident cover will cease on the earliest of; 90 days from the date the Insurer receives your fully completed application, the day your request for cover is withdrawn, approved or declined by the Insurer. An interim accident benefit will not be payable if: the injury occurred prior to the date you became eligible for cover an injury is caused by your participation in hazardous pastimes or sports that would not be covered under the Insurer s normal assessment guidelines, or the cover applied for would have been declined or you claim for an event/condition excluded under the Insurer s normal assessment guidelines. Leave of absence Your SCI cover will continue for up to 24 months if you commence leave without pay (such as maternity or study leave) provided: premiums continue to be paid that prior to your leave, your employer has approved the period and any subsequent extension (not exceeding 24 months in total) of leave of absence in writing, and immediately prior to commencing the period of leave you were at work performing the normal duties of your occupation. This benefit will become payable from the later of: the end of the 90 day waiting period, or the nominated date of your return to work, which was approved by your employer. The Insurer may approve cover beyond this period. You should request an extension by writing to us at least 60 days before you cover is due to cease. Please do not assume your cover has been extended until you have received written confirmation. 9

13 Partial disability benefit You may be considered partially disabled when, after your waiting period has ended and following a period of at least 14 days of total disability, you are only capable of returning to work on a partial basis at reduced earnings. Your partial benefit is calculated as follows: AB C A where: A is your earned monthly income, immediately prior to becoming totally disabled; B is the actual monthly income earned by you during the month in which you became partially disabled; C is your insured monthly benefit. You will need to be under the care of and following the advice for treatment from a doctor in relation to your injury or illness. This benefit will be payable for up to the maximum benefit to age 65 while you remain partially disabled or until the date your monthly income earned equals or exceeds your monthly income immediately prior to total disability commencing. Recurrent disability benefit Rehabilitation expenses benefit Waiver of premiums Workplace modification* If you were paid a SCI benefit and your disability from the same or a related illness or injury recurs within six months of your return to full time work, your waiting period will be waived and your disability will be treated as a continuation of the original disability. Benefits will be payable for up to the remainder of the to age 65 benefit period while you remain disabled. Whilst you are suffering a disability the Insurer will reimburse you where you incur expenses as a result of your participation in a rehabilitation program, to help you return to work. The maximum amount reimbursed is equal to 24 months times your monthly benefit. The Insurer must approve the rehabilitation program in writing prior to commencement. Your doctor must also approve the rehabilitation program. Your premiums will be waived while you are in receipt of a SCI benefit. Payable for the purposes of modifying your workplace to facilitate your return to work. This benefit is limited to a maximum amount of two and a half times your monthly benefit. * This benefit is payable at the Insurer s discretion, you must be in receipt of a SCI benefit at the time and generally the expense must be approved by the Insurer prior to it occurring (with the exception of the emergency transport benefit). Please contact us on , if you wish to obtain a copy of the insurance policy. 10

14 When might you need to provide health evidence? You may, in certain circumstances, be required to provide health evidence to the Insurer, including: if you do not meet the eligibility terms or the terms of automatic acceptance if you apply for cover or apply to increase your cover if your standard cover exceeds the Automatic Acceptance Limit (AAL) or any other limits as detailed in the group insurance policy if your superannuation salary or sum insured increases by more than 30% in any 12 month period, the amount in excess of 30% may be subject to the provision of satisfactory health if an AAL does not apply if you cease to be a member of the Plan and then subsequently re-join the Plan and apply for cover, and any other circumstances outlined in the policy. We will advise you if health evidence is required. This may be in the form of a personal medical statement and/or various medical examinations as required. The Insurer may decline or place conditions or restrictions on your insurance cover as a result of this medical evidence. Your sum insured could be reduced or a benefit declined by the Insurer if you provide inadequate medical evidence or false or misleading information to the Insurer. Cessation of insurance cover Death, TPD and SCI cover ceases immediately under the insurance policy, on the earliest of the following: you reach age days after you cease to be employed by Findex the date you transfer your insurance to the Plum Personal Plan the day you cease to be a member of the Plan the date a death or TPD benefit is paid (if you are in receipt of a SCI benefit, it will not cease if a TPD benefit is paid) the date a terminal illness benefit is paid which is equal to your death cover the date of your death your account balance becomes insufficient to pay a premium instalment the day before you commence duty with the armed forces of any country (not including the Australian Army Reserve) for SCI cover, you permanently retire from the workforce or cease to be a permanent or fixed term employee, for at least 14 hours per week for SCI cover, the date a continuation option is accepted by the Insurer the day after you continue to be on unpaid leave for a period in excess of that allowed under the insurance policy (unless otherwise approved by the Insurer) you make a fraudulent claim you request to cancel your cover, and any other terms under the group insurance policy. 11

15 Keeping your insurance when you leave your employer When you leave your employer you can keep your insurance cover by choosing one of the following options: 1. Automatic transfer of cover when you join the Plum Personal Plan Once your employer tells us you re no longer their employee, we ll transfer your account to the Plum Personal Plan, together with your standard and any voluntary cover. We will transfer the exact amount of cover that you hold at the time you leave your employer and it will remain a fixed dollar amount in the Plum Personal Plan. You can change these amounts at any time. For SCI cover, a 90 day waiting period and a maximum 2 year benefit payment period applies in the Plum Personal Plan. This may be different to the waiting periods and benefit payment periods that apply to SCI cover in the Plan. Please refer to the Plum Personal Plan, section for more information. In order to continue your death, TPD and SCI cover in the Plum Personal Plan, you must ensure the following are applicable: you are under age 65 you are a permanent resident of Australia you have not ceased employment with your employer for reasons of disablement or ill health you have not commenced duty in the armed forces of any country (not including the Australian Army Reserve), and for SCI cover, your employment did not cease due to illness or injury. Cover will be subject to the terms, conditions and premiums applicable to the Plum Personal Plan and any special terms and conditions applying to your cover will be transferred with your insurance cover. You should read the important information about continuing your cover and insurance premiums in the Insurance Guide for the Plum Personal Plan. Further information about continuing your cover can be found in materials which will be supplied to you at the time you leave your employer. 2. You can continue your SCI cover under a personal policy with the Insurer If you are under 60 years of age at the date you transfer your SCI cover, you may without providing health evidence, transfer it into a retail insurance policy held directly with the Insurer (this option expires 60 days from when you cease employment with Findex). The terms and conditions of the SCI continuation option requires that you commence permanent employment for a minimum number of hours per week within a 90 day period of terminating employment with Findex and that your employment did not cease due to illness or injury. The SCI continuation option does not apply if you choose to leave the Plan but there is no change to your employment. Should you wish to discuss your SCI cover, please contact us on You should notify us of your intention to take up a SCI continuation option at least 10 days prior to the continuation option expiry date to ensure there is sufficient time for communication with the Insurer. Further information about continuing your cover can be found in materials, which will be supplied to you at the time you leave your employer. 12

16 Cost of insurance The premiums associated with standard and voluntary cover are deducted in monthly instalments from your account. Cost of standard and voluntary death only or death & TPD cover for permanent and fixed term employees Premiums for permanent and fixed term employees are calculated using age-based premium rates for each $1,000 sum insured. The actual premium calculated for you may vary slightly due to rounding and is inclusive of any statutory charges including stamp duty. Annual cost of each $1,000 cover for Males Age next birthday Death only Death & TPD Age next birthday Death only Death & TPD Annual cost of each $1,000 cover for Females Age next birthday Death only Death & TPD Age next birthday Death only Death & TPD

17 Cost of standard and voluntary death only or death & TPD cover for casual employees Premiums for casual employees are calculated based on a weekly rate for each unit of cover. The actual premium calculated for you may vary slightly due to rounding. Cost of SCI cover Premiums are calculated using aged-based premium rates for each $1,000 sum insured. The actual premium calculated for you may vary due to rounding and is inclusive of any statutory charges including stamp duty. Weekly cost per unit of cover Death only $1.93 Death & TPD $3.00 Age next birthday Annual cost of each $1,000 cover Male Female Age next birthday Male Female

18 Example of premiums Permanent and fixed term employees In our earlier example John, aged 40 (41 age next birthday), had total death and TPD insurance cover of $325,000. John s premium would be calculated as follows: ($325,000 $1,000) x 1.38 = $ pa Casual employees ($37.38 per month) In our earlier example Peter, aged 40 (41 age next birthday), had a total of 8 units of death and TPD cover ($919,200). Peter s premium would be calculated as follows: 8 x $3 = $24 per week SCI cover ($104 per month) In our earlier example John, aged 40 (41 age next birthday) was entitled to a SCI benefit of $46,475 pa, with a 90 day waiting period. John s premium would be calculated as follows: ($46,475 $1,000) x $10.32) = $ p.a. ($39.97 per month) 15

19 Contact us For more information visit plum.com.au or call us on between 8am and 7pm AEST (8pm daylight savings time), Monday to Friday. Postal address Plum Super GPO Box 63 Melbourne VIC 3001 Registered office Ground Floor, MLC Building Miller Street North Sydney NSW 2060 NULIS Nominees (Australia) Limited ABN AFSL Part of the National Australia Bank Group of Companies. An investment with NULIS Nominees (Australia) Limited is not a deposit or liability of, and is not guaranteed by National Australia Bank Limited ABN AFSL (NAB). NAB does not guarantee or otherwise accept any liability in respect of this product. PLRD4254M0716