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Insurance solutions through The Avenue Retirement Service Super Division

Even the best-laid investment plans can come undone if you lose your ability to earn an income. Macquarie Super Protector offers a range of insurance cover which can give you the peace of mind that you and your dependants will be looked after in the event of the unexpected.

Being injured, or worse, dying prematurely, are subjects we would prefer to keep at the back of our minds. The flexibility of the insurance solutions available through your Super Division account means that you can afford to concentrate on living, knowing that if the worst happened, you, your family and your assets are protected.

The types of insurance available through the Fund are:

  • death cover
  • total and permanent disability and
  • income protection.

For detailed information on insurance cover available through Super Division you should consider the separate Macquarie Super Protector PDS. This will explain the features and benefits in full and help you decide whether to take out insurance through Super Division. This document can be obtained from your adviser.

Insurance cover within Macquarie Super Protector is provided by Macquarie Life. MIML as trustee for The Avenue Retirement Service Super Division holds the insurance policies issued. Any claims made on the policy must be made through MIML as the policyholder. The payment of any insurance benefit to a member is conditional upon Macquarie Life accepting a claim and paying the benefit to MIML.

In order for MIML to release insurance benefits from the Fund, you must meet a condition of release. It is important to understand that there may be circumstances in which MIML will be unable to release the benefit at the time of claim under superannuation laws. There may also be circumstances where the benefit paid from Macquarie Life to MIML is included in the Fund's assessable income for tax purposes, in which case the benefit paid from the Fund will be net of any tax payable by the Fund. For more information about accessing superannuation benefits, please refer to How do I withdraw? We recommend you seek advice before you apply if you are considering taking insurance cover within superannuation.

It is very important that you read the separate Macquarie Super Protector PDS carefully to properly understand the features and benefits available, the costs and when a benefit is payable. The Macquarie Super Protector PDS sets out in more detail the circumstances in which the various insurance benefits become payable and also the exclusions that apply to those benefits. It also explains the times at which insurance cover commences and when it ceases.