Page 7 - Nokia Asgard Superannuation Information Booklet
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Making Possibilities Happen | 07

             Insurance benefits

                 The Nokia Service Limited Super Fund provides insurance options which aim
                 to protect you and your family in the event of unexpected death or temporary

                 or permanent disablement*. These insurance premiums are deducted from your
                 superannuation account monthly.

               Default Benefit Design*
               Benefit Type                Permanent Staff                   Casual Staff
               Life and Total Permanent    Multiple of 3 x Salary            Multiple of 3 x Salary
               Disablement (TPD)
                                           75% of Salary
               Salary Continuance          90 day waiting period with        Available upon application
                                           2 Year benefit period
               Automatic Acceptance Levels^
               Benefit Type                All Employees                     Casual Employees

               Life & TPD                  $1,000,000                        $1,000,000
               Salary Continuance          $10,000                           Not Applicable

            *Based on age, occupational and employment status eligibility. Please refer to the AESA PDS and the Additional Information Booklet Part 3 -Insurance
            for more information. There may be special conditions that apply to the Comprehensive Cover insurance component within the Nokia Service
            Limited Super Fund.
            ^ An Automatic Acceptance Limit provides you with cover without the need to provide personal or medical evidence for insurer assessment. You will
            receive automatic cover consistent with the plan’s Default Benefit Design per the Automatic Acceptance Limit above provided you join within
            120 days of commencing employment with Nokia. Please refer to the AESA PDS and the Additional Information Booklet Part 3 - Insurance
            for full details on how the Automatic Acceptance Limit is applied or contact PSK Financial Services for assistance.
            Insurance Opt-In from 1 April 2020

            Due to new legislation, insurance within super can now only be provided on an ‘opt-in’ basis for:
            •   new members under age 25; and

            •   accounts with less than $6,000
            This means that insurance cover cannot be provided automatically to new members where they join with a zero balance,
            regardless of age.  Members can opt-in by completing the online or paper form or phoning Asgard on 1800 998 185.

            Protecting Your Super (PYS)
            Due to new legislation, if your super account has been inactive (ie Asgard has not received a contribution or a rollover
            for a continuous 16-month period) and you have not opted to maintain your insurance, your insurance cover will
            be automatically cancelled.  Members can contact Asgard on 1800 998185 at any time to notify their preference to
            maintain insurance in the likelihood of account inactivity.

            You can apply to increase, decrease or cancel your insurance cover at any time, however if you wish to increase or re-
            instate it again you may need to provide medical evidence. Please contact PSK Financial Services for further assistance
            regarding insurance benefits within Asgard’s Nokia Service Limited Super Fund.
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