Serious illness

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Finding out you are dealing with a serious illness is an emotional and traumatic change in circumstances.

Suddenly you find yourself having to deal with extra medical treatment, time off work, breaking the news to your loved ones, and handling the physical and emotional impact this will have.

Let us guide you through some of the issues you may need to consider, particularly in regard to your super.

Insurance cover

An illness could result in unexpected medical expenses and time off work.  You may be eligible for a disablement or terminal illness benefit. If you have insurance cover through your super, depending on your membership category, you may have cover for events such as:

  • loss of income
  • permanent disablement
  • terminal medical condition
  • death.

If you’re a DBD or Accumulation 2 member, you’ll also have inbuilt death, disablement, temporary incapacity and terminal illness benefits.

Learn more about your death and disablement benefits as well as insurance available through your super:

What happens if you die

No-one wants to think about their death, but it’s important that you take some simple steps now to make it easier for your family when they are sorting out your money and other assets if you pass away.

At UniSuper you have the option of making a binding death benefit nomination or a non-binding beneficiary nomination. If you want more certainty about who you would like to receive your super, you can consider making a valid binding death benefit nomination.

Provided your binding death nomination is valid, UniSuper will pay your super according to your nomination. If you make a non-binding beneficiary nomination instead, UniSuper will decide who gets your super after taking into account all relevant information including your non-binding beneficiary nomination form.

Budgeting

You may be faced with many unexpected costs associated with your illness, even if you have insurance cover through your super.

Having additional medical expenses and a potentially reduced income can become quite overwhelming, especially if you are juggling a family to provide for, plus a mortgage or other debts.

We recommend setting a budget to accommodate this change in circumstance, and help you feel more in control of the financial aspect of your illness.

Get advice

UniSuper Advice helps UniSuper members with more than just super. Each year the UniSuper Advice team helps members navigate the financial side of significant and difficult life events – like a serious illness.

Let UniSuper Advice guide you through this difficult time. UniSuper Advice can help with:

  • budgeting and cash flow considerations
  • your insurance options
  • referral to estate planning specialists

Take a look at what UniSuper Advice can do for you