Published: 04/09/2023
Category: Member Benefits
Published: 04/09/2023
Category: Member Benefits


You’re probably not the same person you were when you first received your insurance in your super.

So, if you’ve had a milestone event, it’s a good idea to reassess your insurance needs to ensure you and your loved ones are protected financially.

What’s considered a milestone event?

  • Taken on a mortgage to buy property, or paid off a mortgage   
  • Upsized or downsized your home 
  • Married
  • Had a baby or expanded your family 
  • Gone through a separation or divorce  
  • Started a business 
  • Made redundant  
  • Stopped supporting financially dependent children
  • Approaching retirement or you’ve already retired.

Once you’ve considered these milestone events you can decide if you need more insurance for better protection, a different type to cover certain circumstances, or maybe you don’t need as much anymore (so that more money stays invested in your super).

How to evaluate your insurance needs

Through your super, you generally have access to death insurance (sometimes called ‘life insurance’), total and permanent disablement (TPD) insurance, and income protection insurance.

Here’s a couple of questions to ask yourself when deciding what, and how much, cover you might need:

  • How much money would you have if you become unable to work? Consider your savings, other investments, any current insurance cover you have. 
  • How much money would you need to provide for you and your loved ones if you become disabled, or you passed away? Consider your mortgage/rent requirements, any other debt, other large and necessary costs such as childcare, education and daily expenses.

Four steps to help you get your insurance in shape

  • Check if you have insurance cover through your super
  • See if you have insurance elsewhere (for example, with another super fund or directly with an insurer, an insurance broker or financial adviser)
  • Assess how much cover you have, how much you might need, and how much you can afford – our Insurance calculator can help you crunch the numbers   
  • Speaking to a financial planner can help you evaluate your insurance needs. CareSuper members can access financial advice over the phone as part of their membership.*

Insurance with CareSuper

CareSuper members have access to: 

  • Competitive insurance cover for death and disablement
  • Optional income protection insurance
  • The option to tailor your level of cover
  • The ability to transfer your existing cover from another fund.^

To learn more about CareSuper visit

*Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766.
^subject to insurers approval

This information is general advice only and does not take into account your particular financial needs, circumstances or objectives. You should consider your own investment objectives, financial situation and needs and read the appropriate Product Disclosure Statement and Target Market Determination before making an investment decision. You may also wish to consult a licensed financial adviser. 

CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226. CARE Super (Fund) ABN 98 172 275 725.

When your life changes, make sure your insurance does too

When your life changes, make sure your insurance does too