Your investment update - November 2024
Read about our investment performance, a new rating for Sustainable Growth, and a peek behind the curtain of HESTA’s internalisation.
life
Having insurance through your super account can help ensure you and your family are covered if the worst happens.
At HESTA, all eligible members receive insurance automatically once they’re aged over 25 and have more than $6,000 in their account and their account is not inactive.
In fact, some members choose to increase the amount of cover they have over and above the default level to provide better cover if they become sick or injured and are unable to work.
As we get older however, it’s worthwhile checking back in with the insurance you have through your super to ensure it’s still working for you.
Why review your insurance?
As you move through life’s stages, you may find that your need for life cover is decreasing. You may have been able to pay down some of your debt such as a home loan. If you have children, perhaps they’re no longer as dependent on you as they were and are now able to earn their own income.
As we age, insurance premiums also increase – which means more will be deducted from your super account to cover the insurance fees and costs necessary to retain the level of cover you have.
Watch HESTA Super Adviser Anne Dalton explain what you need to know about insurance
you might also like
Supporting retirement planning at any age
Cost-of-living pressures are driving more Australians under 40 to plan for retirement, with 49% taking action, research commissioned by HESTA finds.
Need insurance advice?
We have expert advisers ready to talk to you over the phone or in person to help you assess your insurance needs.