Life and Disability Benefits in Australia Internal

What do statutory life and disability benefits cover?

Disability and death-in-service benefits are provided through the superannuation fund. Employees may have the ability to change the level of coverage depending on the rules of the fund.

Death-in-service benefits can be paid to an employee’s chosen beneficiaries and are based on the total value of the fund.

Long-term disability benefits are also provided through the superannuation fund. These benefits may also provide income protection insurance or total and temporary disability benefits. Employees can choose different levels of coverage. To be eligible for long-term disability benefits, an employee must be determined to be fully and permanently disabled and unable to work in a job that is in line with their skills/training.

Life insurance is not included in Australia’s social system offerings.

What life and disability benefits do most employers offer?

It is more common for large companies to provide supplemental group life insurance.