Page 7 - Nokia Asgard Superannuation Information Booklet

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.
Nokia Internal Use