Can I have life insurance through super and a standalone policy at the same time?
Yes — many people hold a base level through super and top up with standalone cover for anything the default doesn't fit, such as own-occupation TPD or a higher sum insured.
Does my premium go up automatically every year?
Only if you're on a stepped premium structure. Level premiums are designed to stay relatively stable, though most policies still index the sum insured (and therefore the premium slightly) to inflation each year unless you opt out.
What happens to my cover if I change jobs?
Standalone policies aren't tied to your employer and continue unaffected. Cover through your super fund can be affected if you switch super funds or stop making contributions, potentially lapsing after a period of inactivity — worth checking your specific fund's rules.
Is life insurance through super taxed differently?
Yes — premiums are typically paid from pre-tax super contributions, and how a payout is taxed depends on who receives it and their relationship to you, which can differ meaningfully from a standalone policy paid with after-tax money.
Can I cancel and get a refund if I change my mind?
Most policies include a cooling-off period (commonly around 14 days) where you can cancel for a full refund of any premium paid, provided no claim has been made.
Do pre-existing conditions mean I can't get cover at all?
Not necessarily — insurers can apply a specific exclusion for that condition while still covering everything else, or apply a loading, rather than declining the whole application. It depends on the condition and its severity.
This page is for educational purposes and isn't personalised financial advice. Premiums, terms and eligibility vary by insurer, occupation and individual circumstances — always check the Product Disclosure Statement (PDS) before buying.