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Accumulation Plan - Insurance
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As a member of ESSSuper's Accumulation Plan, you can obtain additional insurance cover for death and disablement. Your options are open, it all depends on the level of cover you need.
Types of Cover
There are two types of cover available - unit based cover or fixed level cover.
Unit Based Cover
With unit based cover, the amount of cover per unit will gradually decrease with age but the cost of the cover remains the same per unit.
Fixed Level of Cover
If you elect to maintain a fixed level of cover the cost of your cover will increase over time.
You can also open an Accumulation Plan specifically to take up extra insurance cover. The premium will again depend on the level of cover you choose.
Most of our defined benefit funds members have insurance cover built in to their benefit. However, you can elect to take up additional insurance cover by opening an ESSSuper Accumulation Plan account.
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