Superannuation Term Life Plus Life Insurance

Depending on the covers selected, Zurich Superannuation Term Life Plus Life Insurance offers:

  • Life cover that pays a lump sum on your death or diagnosis of terminal illness, and/or
  • TPD cover that pays a lump sum benefit on your Total and Permanent Disablement.

Superannuation Term Life Plus is a risk only superannuation policy, meaning it provides insurance cover through super without an investment component, allowing insurance to be funded with pre-tax income. 

The benefits and options of the policy are restricted so that the cover is aligned with superannuation law.

Life cover may:

  • Allow your family to repay debts including mortgage, personal loans, guarantees, credit cards and store cards
  • Provide an adequate income for your dependants to pay for living expenses, school fees, child care and regular bills
  • Provide a cash deposit to the estate, which may prevent other assets being sold.

Life cover is also available as an optional protection benefit with a Zurich Superannuation Plan allowing the insurance premiums to be funded by the superannuation balance.


A brief outline of the benefits provided under Zurich's Life Cover (via the Superannuation Term Life Plus policy) is set out below. Full details, including any benefit limitations and exclusions, can be found in the Zurich Wealth Protection PDS (PDF 2.3Mb).

Standard benefits

Standard benefits

  • Death benefit

    A lump sum benefit is payable on your death.
  • Terminal illness benefit

    If you are diagnosed as terminally ill with 12 months or less to live, the Death benefit can be paid in advance.
  • Advancement for funeral expenses

    While a claim is being settled, up to $15,000 of the Death benefit can be advanced to help with funeral expenses.
  • Buy back death benefit (TPD)

    If Death cover is taken in conjunction with optional TPD cover and you make a TPD claim, your Death benefit will reduce by the TPD claim amount. This benefit allows the Death benefit to be reinstated after 12 months.

In-built policy provisions which apply to all Superannuation Term Life Plus policies:

  • Interim cover

    While your application is being assessed, interim cover against specific accidental injury can apply for up to 90 days.
  • Inflation protection

    Cover can be increased each year to allow for inflation by the greater of the CPI and five per cent.
  • Future insurability

    On certain occasions related to personal circumstances such as marriage or birth of a child, cover can be increased within guidelines without any further health assessment.
  • Financial planning advice

    After a Death benefit is paid, up to $3,000 of financial planning advice cost can be reimbursed.
  • Premium holiday

    Allows a 3, 6, 9, or 12 month break in cover (max 12 months over life of policy) to ease financial pressure. 

Optional benefits

Optional benefits

Additional (extra cost) options are available with TPD cover, allowing cover to be tailored to your needs.

  • Premium waiver option

    Your premiums will be waived for all benefits under the policy if you are totally disabled prior to age 70.
  • Accidental death option

    A nominated lump sum amount is payable on your accidental death. Cover is available from $50,000 to $1 million.
  • Business future cover option

    If cover is taken out for business insurance purposes, you can increase the cover annually in line with changes in the value of the business, without providing further evidence of good health.

How to apply

Financial Adviser

Get a quote or apply through a financial adviser

A financial adviser can help to
determine the most appropriate
cover for you, based on your
personal circumstances.

Compare Zurich Life Cover policies


Protection Plus
Life Insurance

Term Life Plus

Life Insurance

Accidental Death

Death Cover yes yes yes yes
Terminal Illness yes yes yes
TPD cover yes yes

Trauma cover option cover yes


Child cover option yes


Needlestick option yes


Available through super yes
External trustee
yes yes
External trustee

Policy ownership Individual
Zurich Master
Super Fund
Minimum sum insured $50,000 $50,000 $50,000 $50,000
Maximum age at entry Depends on cover Depends on cover Depends on cover 70
How to purchase Through an adviser
Find an Adviser
Through an adviser
Find an Adviser
Direct from Zurich
Get a quote
Direct from Zurich
Get a quote


Zurich Wealth Protection PDS & Application form - 21 December 2015

Type: pdf (2.8Mb)

Issue date: 21 December 2015