Life and Total Permanent Disability (TPD) insurance provides financial protection for you and your family. Life insurance pays a lump sum of three times your annual base salary to your nominated beneficiary if you die. TPD pays a lump sum of three times your annual base salary to you if you are totally and permanently disabled and unable to work again. It’s provided as a component of Adobe’s superannuation plan through IOOF Super. This is provided by Adobe at no cost to you.
While there is no maximum on how much is covered, you will need to go through medical underwriting if three times your annual base salary exceeds A$1.2 million in order to be covered above this limit. If you choose not to go through medical underwriting, your benefit limit will be capped at A$1.2 million.
To initiate the process of medical underwriting, please contact Joshua Gaughan at IOOF or Cherry Lai at Financial Decision.
Considerations
Don’t forget! Always keep your beneficiaries up to date. You can update your beneficiaries on BT Online.