Asgard Employee SuperAccount - Ernst & YoungPart 3 – Insurance

About this Additional Information BookletAdditional InformationBooklet This document is Part 3 of the Additional Information Booklet for Asgard Employee

Super Account - Ernst & Young (Asgard Employee Super). The information in thisdocument is incorporated by reference into, and taken to be included in the ProductDisclosure Statement (PDS) for Asgard Employee Super dated 1 October 2020.Part 3 – InsuranceThe Additional Information Booklet is in three parts:

Issued: 1 October 2020Part 1 – General (Issued 1 October 2020)

Part 2 - Investment (Issued 1 October 2020)Trustee:

Part 3 - Insurance (Issued 1 October 2020)BT Funds Management LimitedYou should read the PDS and the Additional Information Booklet (Part 1 to 3) (whichtogether form part of the PDS) before making a decision about Asgard EmployeeSuper.

ABN 63 002 916 458AFSL 233724

The information in the PDS and Additional Information Booklet may change at anytime. The updated information, if it is not materially adverse, is available atasgardcorporatesuper.com.au/ey/.

In addition, the Asgard Employee Super List of Available Investment Options Booklet(List of Available Investment Options Booklet) sets out the list of available investmentoptions and includes the investment selection form. The PDS, Additional Information

Custodian and Administrator:Asgard Capital Management LtdABN 92 009 279 592AFSL 240695

Booklet and the List of Available Investment Options Booklet are available free ofcharge at asgardcorporatesuper.com.au/ey/forms.asp or alternatively, you canrequest a paper form of this information by calling us on 1800 155 235.Mail: PO Box 7490 Cloisters

Square WA 6850 Asgard Employee Super is available from financial advisers across Australia. Theoffer or invitation to which the PDS and the Additional Information Booklet relatesis only available to persons receiving the PDS and the Additional Information Bookletin Australia. The Trustee may at its discretion refuse to accept applications fromany person.

Customer Relations:1800 155 235

4Insurance with Asgard

5Terms & conditions

17Glossary

20Insurance premium rates

Contents

Important InformationAbout the Trustee

Asgard Employee Super, the PDS and the Additional Information Booklet are issued by BT Funds Management Limited ABN 63 002916 458, AFSL 233724 (‘BTFM’, ‘we’, ‘us’, ‘our’, or ‘the Trustee’), the trustee of, and the issuer of interests in the superannuationfund known as the Asgard Independence Plan Division Two, ABN 90 194 410 365 (the Fund) which Asgard Employee Super is a partof. BTFM forms part of the Westpac Banking Corporation ABN 33 007 457 141. The Unique Superannuation Identifier (USI) for AsgardEmployee Super is ASG0007AU. BTFM is also the trustee of, and the issuer of interests in the BT Institutional Conservative GrowthPooled Superannuation Trust ABN 87 612 819 950 (the Asgard MySuper PST).

About the Administrator

Asgard Capital Management Ltd ABN 92 009 279 592, AFSL 240695 (‘Asgard’ or ‘the Administrator’) is the custodian and administratorof Asgard Employee Super. Advance Asset Management Limited ABN 98 002 538 329, AFSL 240902 (Advance) is the responsibleentity of some of the managed investments available through Asgard Employee Super.

Your rights

The PDS and the Additional Information Booklet have been prepared in accordance with our obligations under superannuation lawand the general law.

We reserve the right to change the features and provisions relating to Asgard Employee Super as contained in the PDS and AdditionalInformation Booklet, but will provide you with notice of any such change or the ability to access such information as required bysuperannuation law and the general law (please see the ‘Keeping you informed’ section of the Additional Information Booklet Part 1 -General for information about how we will keep you informed).

Your rights in relation to Asgard Employee Super are governed by the Asgard Independence Plan – Superannuation Trust Deed dated12 May 1988, as amended from time to time (Trust Deed).

General advice warning

The information in the PDS and Additional Information Booklet is general information only and does not take into account your objectives,financial situation or needs. Before acting on the information in the PDS and the Additional Information Booklet, you should considerthe appropriateness of this information having regard to your objectives, financial situation and needs. You should consult a financialadviser to obtain financial advice tailored to suit your personal circumstances. In deciding whether to open, or continue to hold anAsgard Employee Super account, you should consider the PDS and the Additional Information Booklet.

Insurance

Asgard Employee Super - Ernst & Young provides insurance through group policies (Master Policies) which are issued by OnePathLife Limited ABN 33 009 657 176, AFSL 238341 (‘OnePath’ or ‘the Insurer’) and administered by us. Insurance offered through AsgardEmployee Super Account – Personal Membership category and AIA Priority Protection policy is issued by AIA Australia Limited (AIA)ABN 79 004 837 861, AFSL 230043 and also administered by us. All insurance benefits are subject to the terms and conditionscontained in the relevant Master Policies.

We are the policyholder under the Master Policies with OnePath and AIA.

Consent to be named

Each of Asgard, Advance, AIA and OnePath has consented to being named in the PDS and the Additional Information Booklet, in theform and context in which it appears, and has not withdrawn its consent before the date the PDS and the Additional InformationBooklet was prepared.

Investment in Asgard Employee Super

BTFM, Asgard and Advance are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141, AFSL 233714 (Westpac).

Your Asgard Employee Super account and the underlying investments (other than deposit products provided by Westpac) do notrepresent deposits or liabilities of Westpac or any other company in the Westpac Group and are subject to investment risk, includingpossible delays in repayment and the loss of income or capital invested. Except as expressly disclosed in the PDS, or the AdditionalInformation Booklet, neither Westpac, nor any other company in the Westpac Group in any way stands behind or guarantees thecapital value and/or the performance of any of the underlying investments or Asgard Employee Super generally.

Related party remuneration

The Trustee, Asgard, Advance, Westpac and other companies in the Westpac Group receive fees in connection with operating AsgardEmployee Super or the underlying investments (as applicable). For more information, see the 'Fees and other costs' section in thePDS and the Additional Information Booklet Part 1 – General. You can also find information on executive remuneration at bt.com.au> About BT > Who we are > Additional disclosure > BT Funds Management Limited.

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Insurance with AsgardInsurance for Ernst & Young (EY) employeesThrough the Asgard Employee Super Account, EY has arrangedinsurance for you at group rates. When you become a Memberof EY, you’ll receive a Welcome Pack which will set out the fulldetails of any insurance that will apply to you.

For Permanent Employees only, EY pays for your defaultinsurance cover (if any) by making additional contributions intoyour super account to cover the cost of the Insurance fees ofyour default level of insurance cover under the default benefitdesign. These additional contributions can be identified as‘Employer Preserved contributions’ in your Investor Report.

If you choose to increase your level of cover above the levelprescribed by the default benefit design, the additional premiumswill be at your own cost. You cannot apply for a higher amountof TPD cover than Life cover.

Please note: Casual Employees are required to pay for theirinsurance cover and the Insurance fees for this will be deductedby Asgard monthly in advance from the cash account.

Important: If you're a casual member your insurance cover won'tstart until you are at least 25 years old and have an accountbalance of $6,000, unless you provide us with an election to startyour cover earlier.

Insurance for spouse and family of EY employees

Spouse and family Members can apply for insurance coverthrough AIA Priority Protection policy, issued by AIA Australia.You should consider the AIA Priority Protection policy productdisclosure statement before making a decision about AIA PriorityProtection. To obtain a copy of the AIA Priority Protection productdisclosure statement, please speak to your financial adviser (ifapplicable), or call us on 1800 155 235. All cover is subject tothe assessment of medical evidence and acceptance of the coverby AIA Australia who is the insurer of AIA Priority Protection andwill assess all applications for cover. All insurance benefits aresubject to the terms and conditions contained in the relevantmaster policies. Default insurance cover and automaticacceptance of cover are not available for spouse or familyMembers. AIA Australia is the issuer of the insurance under therelevant master policies with us.

About OnePath (the Insurer)

OnePath is a part of the Zurich Insurance Group.

The insurance cover for EY employees, provided as a benefitthrough your account, is governed by a Master Policy (Policy)which the Trustee holds with OnePath. The Policy governs theterms and conditions of the insurance offered through AsgardEmployee Super. A copy of the Policy is available from us onrequest. The Insurer may, with our agreement, vary the termsand conditions of the Policy. If there is any inconsistency betweenthe information in the Product Disclosure Statement, this Booklet,any Supplementary Product Disclosure Statement and the Policy,the terms and conditions of the Policy will prevail. You don’t haveany interest in the Policy. Any payment of insurance benefits byAsgard is limited to payments received by OnePath. All insurancebenefits are provided by OnePath and not the Trustee.

We can provide you with a copy of the Policy upon request. TheInsurer may vary the terms and conditions of the Policy providedwe agree.

Types of insurance coverThe following types of insurance cover are available:

Life Protection,

Life Protection and Total and Permanent Disablement (TPD)Protection.

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Terms & conditionsBecoming an insured memberUpon joining, we will provide you with automatic insurance coveronce your account balance reaches $6,000 and you are aged25 or older. If you are under age 25, automatic insurance coverwill be provided once you turn 25, provided your account balanceis $6,000 or more.

Your insurance may be (automatically) cancelled if your accountbecomes inactive (i.e. we have not received a contribution or arollover for a continuous 16-month period) and you have notopted to maintain your insurance. Prior to your account becominginactive, we will let you know what you can do if you want tomaintain your cover.

If you are eligible for cover in Asgard Employee Super, you canbecome an Insured Member in one of the following ways:

by automatic acceptance,

by application for Voluntary Cover.

Important: All applications for Voluntary cover will require youto opt in for insurance.

Cover is subject to the Trustee providing the Insurer with thepremiums for the cover and all relevant member information bythe following times:

where automatic acceptance applies – within 30 days afterthe policy start date or 1 December following the day theperson first satisfies the eligibility criteria, whichever applies,

where transfer terms apply – within 90 days after the policystart date,

where an application for cover is required, within 30 days afterthe date the eligible person was first eligible to apply to becomean Insured Member, or

as otherwise agreed in writing by the Insurer.

Life ProtectionWhat is Life Protection?

Life Protection pays a lump sum if you die or are diagnosed witha Terminal Illness. There is no maximum benefit limit for LifeProtection (subject to financial justification). To understand thecircumstances in which a Terminal Illness Benefit will be paid,please see the definition of ‘Terminal Illness’ set out in the‘Glossary’ section in this Booklet.

Eligibility criteria

You are eligible for Life Protection insurance if you meet thefollowing criteria:

you are an Australian resident or holder of a Visa,

you reside in Australia (unless you are overseas as set out inthe ‘Cover during paid and unpaid leave’ and ‘Cover duringoverseas employment’ sections),

you are working in an occupation that the Insurer has notclassed as an occupation for which cover is not available underthe Policy,

you are aged less than the maximum benefit entry age (65years) on the day you are first eligible for cover, or if anapplication for cover is required, on the date that you applyfor cover,

you are working at least 15 hours per week on a regular basis,and

you are a Partner, a Permanent Employee or a CasualEmployee of Ernst & Young Services Pty Ltd or an associatedcompany.

BenefitsDeath Benefit

If you die, your sum insured (at the date of death) will be paid.Your Death Benefit is reduced by any Terminal Illness Benefit(please see the ‘Terminal Illness Benefit’ section below) paid bythe Insurer. Reduced premiums in line with the reduced level ofcover will apply.

If you are paid a TPD Benefit (please see the ‘TPD Protection’section below), your cover will cease.

Terminal Illness Benefit

A Terminal Illness Benefit is payable when you are diagnosed ashaving a Terminal Illness.

‘Terminally Ill’ or ‘Terminal Illness’ means an illness or injury whereall of the following (a), (b), (c) and (d) are satisfied:

a. two Medical Practitioners certify in writing (WrittenCertification) that you suffer from an illness or have incurredan injury that is likely to result in your death within 12 monthsfrom the date of Written Certification (Certification Period),

b. at least one of the Medical Practitioners is a Specialist MedicalPractitioner, and one which may be appointed by the Insurer,

c. for each Written Certification, the Certification Period has notended, and

d. the Written Certification by both Medical Practitioners mustbe dated during the period you are insured for Life Protectionunder the Policy.

Please see the ‘Insurance benefits’ table on page 10 of thisBooklet.

Please note: The certification period for the ‘Terminal MedicalCondition’ definition under superannuation law is 24 months(which is different from the 12 month certification period for thepurpose of a Terminal Illness insured benefit). This means youmay not be eligible for a Terminal Illness insured benefit even ifyou can access your superannuation on grounds of suffering a‘Terminal Medical Condition’. For more information about theconditions of release, please see the Additional InformationBooklet Part 1 - General.

TPD protectionThis insurance is only available as an additional benefit to LifeProtection. For Insured Members other than Casual Employees,an Insured Member’s default TPD Protection may be higher thantheir default Life Protection in accordance with the defaultinsurance benefit design under the Policy, but any TPD coverheld under Voluntary Cover cannot exceed the amount of Deathcover.

To avoid doubt, an Insured Member with automatic acceptancecover may have a total amount of TPD cover which is higher thantheir Death cover, provided the Voluntary Cover portion of theirTPD cover is not higher than the Voluntary Cover portion of theDeath cover.

Eligibility criteria

You are eligible for TPD Protection insurance if you meet thefollowing criteria:

you are an Australian resident or holder of a Visa,

you reside in Australia (unless you are overseas as set out inthe ‘Cover during paid and unpaid leave’ and ‘Cover duringoverseas employment’ sections),

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you are working in an occupation that the Insurer has notclassed as an occupation for which cover is not available underthe Policy,

you are less than the maximum benefit entry age (65 years)on the day you are first eligible for cover, or if an applicationfor cover is required, on the date that you apply for cover,

you are working at least 15 hours per week on a regular basis,and

you are a Partner, a Permanent Employee or a CasualEmployee of Ernst & Young Services Pty Ltd or an associatedcompany.

What is TPD Protection?

The maximum cover limit (or maximum benefit limit) for TPDProtection is $5,000,000. TPD Protection pays a lump sum if,or when, you become totally and permanently disabled. The TPDBenefit is payable once only. You must be medically certified tohave first ceased work as a result of the injury or illness givingrise to Total and Permanent Disablement while the Policy is inforce and before the first to occur of:

your cover ending,

if the Policy ends, you return to work, whether on a full-timeor part-time basis, or

you attain the benefit expiry age for the TPD Benefit.

BenefitsTPD Benefit

You will be assessed for a TPD Benefit in accordance with theTPD definition in the ‘Glossary’ section of this Booklet. Pleasesee the ‘15 hour rule’ below to determine which parts of the TPDBenefit you will be eligible to be assessed under.

15 hour ruleThis rule is applied when you are first eligible to join the Fund andis applied again as at the date of the event giving rise to Totaland Permanent Disablement.

It is calculated by determining whether you are Gainfully Employedfor an average of at least 15 hours per week on a permanentbasis (including an eligible Contractor) and have either:

worked for at least six consecutive months immediately priorto the Event Date, or

worked for less than six consecutive months immediately priorto the Event Date but have in fact worked for an average of15 hours or more per week since commencing cover underthe Policy.

Upon satisfying the 15 hour rule, you will be eligible to beassessed under all parts of the TPD definition (please see theTPD definition in the ‘Glossary’ section of this Booklet). If you donot satisfy the 15 hour rule then TPD will be assessed underParts 2, 3, 4 or 5 of the TPD definition.

Automatic acceptance coverAutomatic acceptance and eligible persons not at work

If you are accepted under automatic acceptance, covercommences on the later of the date you first meet the eligibilitycriteria and the policy start date. You will not be eligible forautomatic acceptance cover if:

you are entitled to payment of an insurance benefit for TPD,or Terminal Illness, or in a waiting period for such a benefit, or

you have previously been accepted for automatic acceptancecover.

You must also satisfy any other terms applied by the Insurer tobe eligible for automatic acceptance cover.

An Eligible Person who is not At Work as a result of an illness orinjury on the policy start date or on the day the eligibility criteriawas first met, shall be eligible for New Events Cover only.

When you return to the pre-disability duties (working the samehours and in the same capacity without limitation) you performedwhen you were last At Work, your New Events Cover will ceaseand you will be covered on the same basis as an Insured Memberwho was At Work on the relevant day.

New Events Cover means you will not be covered for anyPre-existing Condition. You will only be covered for an illnesswhich became apparent to you, or any injury which occurred toyou, on or after the date that cover commenced, recommencedor increased (as applicable) under the Policy.

Automatic Acceptance Level

Under the terms of the Policy, eligible Permanent Employees arenot required to provide medical or other underwriting evidenceto be covered for default benefits up to the Automatic AcceptanceLevel (AAL) of $1,700,000. If the application of EY’s nominatedbenefit design would cause your sum insured to exceed the AAL,your cover will be capped to $1,700,000 unless you areUnderwritten and approved for higher cover.

The AAL applicable to eligible Casual Employees is one unit ofcover.

Please see ‘The default insurance cover in the Asgard EmployeeSuper Account – Ernst & Young’ section of the PDS for theamounts of default cover provided to eligible members.

If an insufficient number of eligible members in Asgard EmployeeSuper are covered under the Policy, the relevant AAL may beremoved by the Insurer after consultation with the Trustee. If thisoccurs, the cover provided for existing Insured Members as atthe date the AAL is removed will not be impacted.

If an AAL applies to an Insured Member and the AAL increases,the higher AAL may apply to all existing Insured Membersirrespective of whether they have been declined, excluded orloaded for cover above the previous lower AAL. Any loading,limitation or exclusion that previously applied to the InsuredMember’s cover will only apply above the new higher AAL.

What is automatic acceptance?

Automatic acceptance provides you with cover without the needfor you to provide a personal statement or any underwritingevidence, which is normally required by the Insurer to assess therisk of insuring individuals.

Because EY has nominated a benefit design for you and bymeeting certain criteria, you can be automatically covered.

Your Asgard Employee Super account has an AutomaticAcceptance Level for Life and TPD Protection of $1,000,000 forPermanent Employees, and one unit of cover for CasualEmployees, without the need for medical or other underwritingevidence as described above under the heading ‘AutomaticAcceptance Level’. You may apply for additional cover in excessof the Automatic Acceptance Level. If you apply for additionalcover, additional cover commences from the date the Insureraccepts your application.

If you would like a higher level of cover than that allowed underautomatic acceptance, you need to be personally Underwrittenfor the amount. You will need to complete an InsuranceApplication and Personal statement form, available from the EYinternet site at asgardcorporatesuper.com.au/ey/.

Should you wish to reinstate your insurance after it has beencancelled, automatic acceptance will not apply and you will berequired to be Underwritten and accepted for cover.

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Automatic acceptance does not apply to Partners

Automatic acceptance is not available to Partners. To avoiddoubt, to be eligible to obtain Life Protection or Life and TPDProtection cover under the Policy, an Eligible Person who is aPartner must be Underwritten and accepted as an InsuredMember in writing by the Insurer. The cost of cover will bedetermined by reference to the premium rates set out in the‘Voluntary Cover – Premium Rates’ table on pages 22 to 23 ofthis Booklet.

If an Insured Member who is a Permanent Employee or CasualEmployee of Ernst & Young Services Pty Ltd (the Company) isappointed as a Partner:

any automatic acceptance cover they have will cease from thedate the Member is appointed as a Partner and transferred tothe Ernst & Young Partners Asgard Superannuation Plan,

any Voluntary Cover which has been approved by the Insurerwill continue under the Policy, and

he or she will only be eligible for Voluntary Cover whilstengaged as a Partner.

Automatic increases in the insured benefit

If you have been automatically accepted for cover under thePolicy, provided you are At Work, your insured benefit mayincrease automatically on 1 December each year (or anotherdate during a 12 month period agreed between the Trustee andthe Insurer). You will not need to apply to the Insurer in writing ifthe increase in your insured benefit is up to the lesser of theAutomatic Acceptance Level and 25% of your insured benefit(as determined immediately before the increase).

Where you seek to have your insured benefit increase by morethan 25% (eg if your Salary has increased by more than 25%),the Insurer may agree to waive the requirement that you applyto the Insurer in writing. Unless the Insurer does so, the increasein your insured benefit will be restricted to the stated limits andthe Insurer will require you to be underwritten for that part of theinsured benefit that is in excess of either of those limits.

In all other circumstances, an application for additional cover isrequired.

If you have been forward underwritten to a Forward UnderwritingLimit (FUL), the Insurer may agree to accept increases in yourinsured benefit up to the FUL, without requiring you to providefurther medical evidence, so long as the increase is as a resultof the application of the formula by which insured benefits arecalculated.

The Insurer will only agree to an FUL when the Insurer hasunderwritten and approved your application for cover or increasedcover. The Insurer may impose lower FULs at its discretion.

If you have been forward underwritten to an FUL equal to themaximum benefit level, and the maximum benefit level increases,the FUL that applies to you will increase to the higher maximumbenefit level.

Interim Accidental Death & TPD Benefit (Limited Cover)

Interim accidental cover (Limited Cover) is provided for all, or thatpart of, the cover for which an application is required. In the eventthat an Insured Member or Eligible Person dies or suffers TPDas the result of an ‘Accident’ during the period in which LimitedCover applies, the Insurer will pay a Limited Cover benefit. Pleasesee the Accident definition in the ‘Glossary’ section of thisBooklet.

The Limited Cover benefit is the lesser of:

the benefit amount applied for in the application for cover,

the difference between the level of increased cover applied forand the current level of cover, and

the maximum benefit level.

Limited Cover starts from the date an application for cover isreceived by the Insurer and ends upon the earlier of:

the date the Insurer notifies the Trustee or the Insured Memberin writing that the Insurer accepts or rejects the application forcover or increase in the sum insured,

90 days after the date Limited Cover starts,

cover otherwise ceasing in accordance with the Policy (pleasesee the ‘When cover ends’ section below),

the date the application is cancelled or withdrawn, and

if your account becomes inactive (i.e. we have not received acontribution or a rollover for a continuous 16-month period)and you have not opted to maintain your insurance.

For more information, please see the ‘Insurance benefits’ tableon page 10 of this Booklet.

To whom are benefits payable?Any benefit payable under the insurance through AsgardEmployee Super is paid to the Trustee and held on your behalfuntil a condition of release is met under superannuation law(please see ‘Access to your super’ in the Additional InformationBooklet Part 1 – General) and the terms of the Trust Deed forAsgard Employee Super are met.

The payment of benefits is subject to you satisfying the Insurer’sclaim procedures (please see the ‘Claims’ section below forfurther information).

Life & TPD Protection

Before a TPD or Terminal Illness Benefit can be paid to you, youmust meet the ‘permanent incapacity’ or the ‘Terminal MedicalCondition’ definitions respectively, as defined by superannuationlaw, or satisfy another condition of release.

Future Insurability

Future Insurability allows you to apply for additional Life ProtectionCover only or Life Protection and TPD Protection Cover once inany 12 month period without supplying medical evidence if aspecific life event occurs after your insurance cover commences,on up to three separate occasions. A specific life event ismarriage (or upon the subsistence of an interdependentrelationship for two years or more), birth or adoption of a childby you or your spouse, the date on which a dependent child ofyours starts secondary school, taking out a new mortgage on,or increasing an existing mortgage on, your principal place ofresidence with an accredited mortgage provider by at least$100,000 (excludes re-draw and refinancing).

For the purpose of a Future Insurability increase, an‘interdependent relationship’ is a close personal relationshipbetween two people who live together, where one or bothprovides for the financial and domestic support and care of theother.

To apply for increases under Future Insurability, you will need tocomplete the Future Insurability Increase Application Form andreturn it to the Insurer with any other information the Insurerrequires (which is documentary proof that the specific life eventoccurred and when). The application needs to be made within90 days of the specific life event occurring. The form is availableat asgardcorporatesuper.com.au/ey/ .

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The proof required to accompany the Future Insurability IncreaseApplication Form for each specific life event is set out in the tablebelow.

Evidence you need to provideSpecific life event(occurring after yourinsurancecommences)

A completed Future InsurabilityIncrease Application Form and:

Your marriage (orupon the subsistenceof an interdependentrelationship for twoyears or more).

for marriage – a copy of yourmarriage certificate in respect of amarriage recognised under theMarriage Act 1961 (Cth), orfor an interdependent relationship– documentary evidenceestablishing the subsistence of thatrelationship for at least two years.

A completed Future InsurabilityIncrease Application Form and a copyof a letter of admission from yourchild’s secondary school.

Your dependent childstarts secondaryschool.

A completed Future InsurabilityIncrease Application Form and a copyof the birth certificate or adoptionpapers.

You or your spousegives birth to oradopts a child.

A completed Future InsurabilityIncrease Application Form and writtenconfirmation from your accreditedmortgage provider(s) of:

You take out orincrease a mortgageon your principal placeof residence with anaccredited mortgage the amount and effective date of

the mortgage, where you take outa new mortgage, or

provider* (excludesre-draw andrefinancing). the amount of the mortgage

immediately preceding theincrease, the effective date of theincrease and the current level ofthe increased mortgage, where youincrease your mortgage, whetherwith an existing or differentmortgage provider.

* Accredited mortgage provider means an Authorised Deposit-takingInstitution (as defined in the Banking Act 1959 (Cth)) or other reputablefinancial services business, program or trustee which provides mortgageloans as part of its ordinary business activities and is accredited with theMortgage Industry Association of Australasia.

Within the first six months of an increase to an insured benefit,the increased amount is only payable if your death or Total andPermanent Disablement is caused by an ‘Accident’ (please seethe ‘Glossary’ section of this Booklet). Future Insurability increasesare not available:

if you have made a claim, or are entitled to make a claim, inrelation to your cover through Asgard Employee Super or anylife insurance policy whether it is issued by the Insurer or anyother insurer,

if you are aged over 55 years at the date of the specified lifeevent,

if the Insurer has declined any previous application foradditional cover, or

in the event of marriage, if you have previously applied for anincrease under Future Insurability because of marriage.

Increase to Insured Benefits

If you apply for Future Insurability and your application isapproved, your insured benefit will increase by one unit of coverif your cover is unit based cover.

If you hold fixed cover or cover based on an employer nominatedbenefit design, your cover will increase by 25% of the amount itwas when you applied for the Future Insurability increase, subjectto a maximum limit of $250,000 and the maximum benefit level.Any Future Insurability increase will commence on the date yourapplication is accepted by the Insurer. If the Insurer accepts aFuture Insurability application, the increase in cover will be onthe same terms and conditions as the acceptance terms thatapply to your cover under the Policy. The increase in cover shallinclude any loadings or exclusions applicable to your cover. Youwill be required to pay any additional premiums for the higherinsured benefits which will apply when you increase your coveras a result of a specific life event. The premium will be deductedfrom your cash account on a monthly basis.

If your cover has increased due to a Future Insurability increase,for the first six months following the increase, the Insurer will onlypay the increased portion of your cover if your death or TPDresults from an Accident.

Voluntary CoverYou will need to apply to the Insurer in writing for all or part ofcover in each of the following circumstances:

if automatic acceptance does not apply or you were notautomatically accepted,

you require cover in excess of the AAL,

in respect of an increase in your insured benefit, if an increaseis not automatically provided,

if your cover stops under the Policy for any reason,

if you require cover that is not New Events Cover.

An application can only be made for cover up to the maximumbenefit level. When considering an application, the Insurer mayrequest medical and other information from you. Until the Insureraccepts or rejects the application, Limited Cover will apply asset out in the ‘Interim Accidental Death & TPD Benefit (LimitedCover) section of this Booklet. Premiums will be charged fromthe effective date of any cover approved by the Insurer.

If an Eligible Person who has previously opted out of AsgardEmployee Super by exercising choice of fund wishes to rejoinAsgard Employee Super, he or she must be Underwritten toobtain cover under the Policy unless applying for up to $500,000of Life Protection or Life and TPD Protection cover, in which casethe Eligible Person will need to satisfy the following requirementsas at the date he or she re-joins Asgard Employee Super:

the member must be an Eligible Person,

the member must be At Work, and

the member must not have taken more than 5 consecutivedays off work due to sickness or injury during the previous 12months.

Benefit limitationsExclusions

In the event of war involving Australia, New Zealand or yourcountry of residence, the Insurer may:

offer increased premium rates (including during the rateguarantee period),

exclude cover for any event caused directly or indirectly, whollyor partially, by war,

exclude cover if you die on war service.

War or war service includes but is not limited to:

declared war, and armed aggression by one or more countriesresisted by any country, combination of countries orinternational organisations,

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participation in an action to defend a country or region fromcivil disturbance or insurrection, or in an effort to maintainpeace in a country or region.

Pre-existing conditions

If your TPD cover was accepted under automatic acceptanceor transfer terms, you will not be covered for Total and PermanentDisability that is caused directly or indirectly, wholly or partially,by a Pre-existing Condition if a similar benefit can be claimed byyou under another insurance policy.

If you are not eligible for Automatic Acceptance, you mustdisclose Pre-existing Conditions with your application for grouplife insurance and any subsequent increases or alterations to theLife Protection insurance.

When the insured benefit payable is reduced

If your cover ends as a result of you ceasing to satisfy the eligibilitycriteria after a maximum period of 60 days (referred to as‘extended cover’), and during the period of extended cover, youbecome covered under a policy from another insurer providingsimilar benefits (the subsequent policy), the Insurer may reduceor refuse to pay any benefit which may become payable underthe Policy, by the amount of any similar benefit paid, or payable,in respect of you under the subsequent policy if the death,Terminal Illness or Total and Permanent Disability arose oroccurred during the period of extended cover.

If the Insurer issues the Policy or cover under the Policy on thecondition that it replaces insurance issued by another insurerand the insurance being replaced is not cancelled, the amountof any benefits paid under the Policy will be reduced by anybenefits payable under the insurance that was replaced.

Repayment of benefits

Any benefit paid to you by the Insurer must be repaid to theextent that the benefit, or part of the benefit, was not payableunder the terms of the Policy.

TPD tapering*

TPD tapering is applied to TPD Benefits that do not reducegradually to be nil with age. The TPD Benefit will automaticallyreduce by 20% per year from your age next birthday 62 andoccurs at each annual review date (ie 1 December), up to thebenefit expiry age, according to the table below.

TPD cover is reduced byAge Next Birthday

20%62

40%63

60%64

80%65

TPD cover ceases66

* TPD tapering will apply unless the Insurer agrees otherwise in writing.

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Insurance benefits

BenefitsPolicy Feature

The Insurer will pay your death benefit when you die.Death Benefit

The Insurer will pay you the Terminal Illness Benefit when you are diagnosed as having a Terminal Illness.Terminal IllnessBenefit Terminal Illness means an illness or injury where all of the following (a), (b), (c) and (d) are satisfied:

a. two Medical Practitioners certify in writing (Written Certification) that you suffer from an illness or haveincurred an injury that is likely to result in your death within 12 months from the date of Written Certification(Certification Period),

b. at least one of the Medical Practitioners is a Specialist Medical Practitioner and one which may be appointedby the Insurer,

c. for each Written Certification, the Certification Period has not ended, andd. the Written Certification by both Medical Practitioners must be dated during the period you are insured for

Death cover under the Policy.Your Terminal Illness Benefit is the lesser of:

your Death Benefit, as at the date of the latest Written Certification, and$2.5 million.

Your Death Benefit will be reduced by the amount of the Terminal Illness Benefit paid. Reduced premiums inline with the reduced level of cover will apply.

If you have applied for cover and are being Underwritten, you are provided with Limited Cover whilst the Insureris assessing your application for cover.

Interim AccidentalDeath & TPDBenefit (Limitedcover) Limited Cover is provided for all, or that part, of the cover for which an application is required.

Limited Cover starts from the date an application for cover is received by the Insurer at their principal officein Sydney.Limited Cover will end upon the earlier of:

the date the Insurer notifies you in writing that they accept or reject the application for cover or increasein the insured benefit,90 days after the date Limited Cover starts,cover otherwise ceasing in accordance with section 2.15 of the Master Policy,the date the application is cancelled or withdrawn.

In the event that you die or suffer Total and Permanent Disablement as the result of an Accident during theperiod in which Limited Cover applies, the Insurer will pay you the Limited Cover Benefit. The Limited CoverBenefit is the lesser of:

the benefit amount applied for in the application for cover,the difference between the level of increased cover applied for and the current level of cover,the maximum benefit level.

Subject to the terms of the Policy, where you are Gainfully Employed for an average of at least 15 hours perweek on a permanent basis (including an eligible Contractor) and have either:

Total andPermanentDisability Benefit

worked for at least six consecutive months or more immediately prior to the Event Date,worked for less than six consecutive months immediately prior to the Event Date but have in fact workedfor an average of 15 hours or more per week since commencing cover under the Policy, the Insurer will paythe TPD Benefit (if it applies) if the Insured Member satisfies either Part 1, 2, 3, 4 or 5 of the TPD definition.

If you have not worked at least 15 hours per week on a permanent basis immediately prior to the Event Date,as set out above, you will only be entitled to a TPD Benefit (if it applies), if you satisfy either Part 2, 3, 4 or 5of the TPD definition.

To determine if an Insured Member meets the conditions of the relevant part of the TPD definition, the Insurerwill assess an Insured Member who claims under Part 1 of the TPD definition after the Insured Member ceaseswork for six consecutive months. The date of disablement for all other parts of the TPD definition is the datethat all of the elements of the definition of TPD are satisfied.

In addition, the Insurer will determine if an Insured Member is TPD on the date of

disablement upon receipt of:

all evidence the Insurer requests in order to determine if, in the Insurer’s opinion, the Insured Member isTPD, andconfirmation that the Insured Member was Gainfully Employed (if required) to enable the Insurer to determinewhich part of the TPD definition applies.

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Automatic transfer of coverIf you cease to be employed by EY, you will become a Personalmember of the Asgard Employee Super Account and your LifeProtection or Life and TPD Protection insurance cover may betransferred automatically from the OnePath policy to insurancecover provided by AIA Australia Limited (AIA) ABN 79 004 837861, AFSL 230043.

AIA is the insurer for the Personal membership category withinthe Asgard Employee Super Account, and you will be subject tothe terms and conditions of the relevant policy1 issued by AIA.

The terms and conditions of the automatic transfer of cover fromthe OnePath policy to the relevant policy1 for former EYemployees are as follows:

You have not exercised the OnePath continuation option forLife Protection only (please see the ‘Continuation option’section on page 12 for further information).

You are aged less than 65 on the date you transfer to thePersonal membership category.

You have not joined the armed forces on the date you transferto the Personal membership category.

On the date you transfer to the Personal membership category,you are not receiving or eligible to receive a Terminal Illness orTPD insurance benefit, or in the process of lodging a TerminalIllness or TPD Protection claim, under the OnePath policy.

You will not need to provide additional medical or otherunderwriting information to be eligible for the automatic transferof cover; however, you must meet the eligibility conditions setout in the relevant policy1 on the date you transfer to thePersonal membership category (please see the AsgardEmployee Super Account Additional Information Booklet Part3 – Insurance for details of the applicable eligibility conditions).

Any underwriting terms (including restrictions and loadings)applicable to your insurance cover under the OnePath policywill continue to apply to your Life Protection only or Life andTPD Protection cover in the Personal membership categoryof the Asgard Employee Super Account.

If your cover under the OnePath policy is New Events Cover,‘new events cover’ (as defined under the relevant policy1 –please see the Asgard Employee Super Account AdditionalInformation Booklet Part 3 – Insurance for the applicabledefinition) will be provided until you are ‘at work’ (as definedunder the relevant policy1) for 30 consecutive days, from whichtime the ‘new events cover’ restriction under the relevantpolicy1 will no longer apply.

Any employer related discounts or loadings applicable to yourinsurance cover under the OnePath policy will cease to applyto your cover in the Personal membership category and, as aresult, your insurance fees may change. The insurance feesapplicable to your cover as a Personal member are as set outin the Asgard Employee Super Account Additional InformationBooklet Part 3 – Insurance (including any premium loadingsapplicable under the relevant policy1 on any TPD Protectioncover in excess of Life Protection cover – please see the‘Excess TPD Loading for Personal members only’ section onpage 23).

The occupation recorded for you in Asgard Employer Superwill continue to apply. However, at the time of a TPD Protectionclaim, you will be assessed against the occupation you areworking immediately prior to the date of disability. If you changeyour occupation, you must notify us of this change.

Any AALs or FULs (as applicable) will cease to apply to yourcover in the Personal membership category.

From the date of the transfer of your cover to the Personalmembership category, your cover will automatically be fixedat the amount of cover you held under the OnePath policyimmediately prior to your cessation of employment with EY.

No benefit will be payable by AIA where you have made aclaim, or are eligible to make a claim, in relation to anyinsurance cover held by you in Asgard Employee Super priorto any transfer of such cover to the Personal membershipcategory.

Any transferred cover will commence from the date you becomea Personal member of the Asgard Employee Super Account.You will be transferred to the Personal membership category onthe date we are first notified that you have ceased employmentwith EY. Cover within the Personal membership category willcontinue subject to the continued payment of insurancepremiums.

Please note: if your cover under the OnePath policy ceases priorto the date your transferred cover in the Personal membershipcategory commences, you will not hold any cover for the periodbetween when your cover under the OnePath policy ceases andwhen your cover commences in the Personal membershipcategory. As such, if you cease employment with EY, you shouldnotify us of this as soon as practicable to ensure your cover istransferred to the Personal membership (if eligible) before itceases under the OnePath policy.

The total amount of cover you hold as a Personal member of theAsgard Employee Super Account must not exceed the maximumsfor the relevant type of cover set out in the Asgard EmployeeSuper Account Additional Information Booklet Part 3 - Insurance.You can request to increase your existing amount of cover as aPersonal member, subject to providing the required medicalevidence and the relevant insurer of the Personal membershipcategory accepting the cover.

OnePath will remain responsible for any claims arising in relationto your cover in Asgard Employee Super Account - Ernst andYoung.

When you become a Personal member of Asgard EmployeeSuper Account, details of your membership and insurance cover(if any) will be sent to you. Your insurance cover as a Personalmember of Asgard Employee Super Account is subject to theconditions of transfer set out in the relevant policy1, as outlinedabove. You should read the product disclosure statement andAdditional Information Booklet Part 3 – Insurance for AsgardEmployee Super Account for details of the terms and conditionsof the insurance cover applicable under the relevant policy1.Copies of the documents are available on our websiteat asgard.com.au > Products & Services > Business Super >Brochures & Forms > For you or by calling us on 1800 155 235.

Any spouse and family Members who are linked to a former EYemployee will become Personal members. If these spouse andfamily Members hold insurance through the AIA Priority Protectionpolicy, they will continue to hold this cover when they becomePersonal members.

Extended coverSubject to the terms of the Policy, the Insurer will provide LifeProtection and TPD Protection (if applicable) to you for amaximum of 60 days after the date you cease to meet theeligibility criteria subject to the following conditions:

as at the date you ceased to meet the eligibility criteria, youhad not received, nor were entitled to receive, a benefit underthe Policy, nor were you in a waiting period for such a benefit,and

the extended cover will cease on the earlier of:

1 The 'relevant policy' of the Personal membership category within Asgard Employee Super Account, refers to the AIA master policies.

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the date you reach the relevant benefit expiry age,

60 days after the date you cease to meet the eligibilitycriteria,

the date your cover commences under a retail policy ofinsurance issued by the Insurer under the continuation optionoffered under the Policy,

the date you commence employment with a new employeror commence working as a Contractor.

Continuation optionIf your cover ends because you no longer satisfy the eligibilitycriteria due to you leaving EY, you may be able to apply for acontinuation option to continue your Life Protection cover underan individual policy issued to you by OnePath. This option appliesto Life Protection cover and does not include TPD Protection.

The Insurer will not require you to provide medical evidence;however, to exercise the continuation option, you must:

be 60 years of age or less,

apply in writing by completing an application for the individualpolicy within 60 days of the date you cease to be an eligibleperson as a result of leaving EY,

be an Australian resident or holder of a Visa and not residingoutside Australia,

provide any information the Insurer considers relevant thatdoes not relate to medical information,

acknowledge that any restrictions, limitations or loadings underthe existing policy will apply to the new individual policy, and

must not be eligible to receive, or have received, benefits underthe Policy or any other policy issued by an insurer providingany similar benefits.

If the Policy terminates or is transferred, a continuation optionwill not be available. This includes the circumstance where thePolicy is terminated and replaced as a result of a successor fundtransfer.

Any insurance effected under the continuation option would beheld by you on a standalone basis outside Asgard EmployeeSuper. The premium rate under the individual policy may be morethan under the cover in Asgard Employee Super and anyrestrictions, limitations and premium loadings that applied underthe Policy will apply under the individual policy. For moreinformation on this option, please call us on 1800 155 235.

Worldwide, 24 hour coverThe cover provided by the Policy provides worldwide insurancecover 24 hours a day. There are however, some restrictions onyou working overseas and taking leave, as set out in the followingsections.

Cover during paid and unpaid leaveProvided the premiums continue to be paid, your coverautomatically continues for up to 24 months whilst you are onpaid or unpaid leave including parental leave2, subject to thefollowing conditions:

EY must approve the period of leave, prior to the date yourleave commences,

the identity and number of Insured Members on unpaid or paidleave must be provided to the Insurer when requested and atleast annually, and

EY must hold appropriate leave records (which must beprovided to the Insurer upon request), which include:

the date the paid or unpaid leave is to commence, and

the date you are expected to return to work.

Any change in employment status during periods of leave inaccordance with this section will not affect any entitlements tocover.

If cover for an Insured Member on paid or unpaid leave is requiredbeyond 24 months, an application in writing is required prior tothe expiration of the 24 months. Otherwise, prior notification tothe Insurer of the unpaid or paid leave is not required.

Cover during overseas employmentProvided the premiums continue to be paid and you are anAustralian resident, your cover continues automatically while youare working overseas for up to five years. If cover is requiredbeyond five years, you must seek approval from the Insurer priorto the expiration of the five year period. Otherwise, the Insurer’sprior consent to your travel is not required.

The Insurer reserves the right to impose conditions on the cover,and review cover, at the end of the premium rate guaranteeperiod (please see the policy document for the premium rateguarantee period). Any details regarding the location of InsuredMembers residing overseas must be provided to the Insurer uponrequest and at least annually. The Insurer may also requestrecords of the duration of time, the number and location ofInsured Members working overseas.

Cover for non-Australian residentsNon-Australian residents are eligible for cover whilst they residein Australia if they are eligible to work in Australia and hold a Visa.All cover will cease upon the non-Australian resident’s departurefrom Australia unless the overseas trip is for three months or lessor you are temporarily employed overseas for a period of up tothree years.

Visa means a current and valid visa issued in accordance withthe Migration Act 1958 (Cth) or any amending or replacing Actwhich enables an Eligible Person or Insured Member to work inAustralia.

When cover endsYour cover will end and the Insurer’s liability to pay insuredbenefits under the Policy will cease automatically, on the earlierof:

the date the Policy ends,

the date the Insurer receives written notification from you tocancel the cover,

if you are a non-Australian resident – the date you no longerpermanently reside in Australia, or are not eligible to work inAustralia (whether that is because you no longer hold a Visaor for any other reason),

the date you attain the benefit expiry age,

the date the Insurer cancels and/or avoids the Policy, or cover,in accordance with its legal rights,

the date the Insurer cancels and/or avoids the Policy, or cover,because premiums have not been paid when due,

the date you commence active service3 with the armed forcesof any country (except where you are a member of theAustralian Defence Force Reserves, in which case, cover forall benefits will cease only when you become the subject of acall out order under the Defence Act 1903 (Cth),

the date you die,

the date a TPD Benefit is paid under the Policy,

2 Parental leave includes maternity leave, paternity leave and/or adoption leave.3 Active service refers to an Insured Member’s occupation as part of a military force (including without limitation the Defence Force, the Army, the

Navy, the Air Force or like). Reserve duty is excluded.

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the date you are paid a Terminal Illness Benefit which is equalto your Life Protection Benefit,

in respect of TPD Protection only – the date you permanentlyretire from employment,

in relation to a Member who ceases to meet the eligibilitycriteria on the earlier of:

the date you reach the benefit expiry age,

60 days after the date you cease to meet the eligibilitycriteria,

the date you commence employment with a new employeror commence work as a Contractor,

the date your cover commences under a retail policy ofinsurance issued by the Insurer under the continuation optionoffered under the Policy,

from the date you are on paid or unpaid leave for longer thanthe Insurer has agreed to provide cover for,

from the date you are employed overseas for longer than theInsurer has agreed to provide cover for,

the date the Policy is terminated, except to the extentdiscussed below,

if your account becomes inactive (i.e. we have not received acontribution or a rollover for a continuous 16-month period)and you have not opted to maintain your insurance.

If the Policy terminates and you are not At Work due to illnessor injury, you will continue to have TPD cover under the Policyuntil the earlier of:

the date you return to the pre-disability duties (working thesame hours and in the same capacity without limitation) youperformed when you were last At Work, free from any limitationdue to illness or injury and you are not entitled to receiveincome support benefits (including government income supportbenefits) of any kind,

the date the Insurer makes a determination in respect of yourTPD claim,

the date you attain the benefit expiry age,

the date a TPD Benefit is paid to you,

the date you die.

If you exercise choice of fund and cease to remit regularcontributions or cease to have regular contributions remitted onyour behalf by your employer, subject to you remaining an EligiblePerson, your cover will not end as a result of this event.

9 Day FortnightsUnder this arrangement, employees will work a 9 day fortnight(5 days the first week and 4 days the second week) for a trialperiod of 3 months (Trial Period), after which they may eitherreturn to full-time employment or remain on this arrangementearning a reduced salary.

During the Trial Period, premiums will be calculated based onthe fulltime salary, and after the Trial Period, premiums will becalculated based on the reduced salary (if applicable).

Should a claim arise during the Trial Period, the benefit will becalculated based on the Insured Member’s fulltime salary.

Should a claim arise after the Trial Period, the benefit will becalculated based on the Insured Member’s reduced salary (ifapplicable).

Part PayingUnder this arrangement, employees will work on a part-time basis(at least 15 hours per week) for a trial period of 3 months (TrialPeriod), after which the employee may either return to work ona full-time basis or remain on this arrangement earning a reducedsalary.

During the Trial Period, premiums will be calculated based onthe fulltime salary, and after the Trial Period, premiums will becalculated based on the reduced salary (if applicable).

Should a claim arise during the Trial Period, the benefit will becalculated on the Insured Member’s full-time salary. Should aclaim arise after the Trial Period, the benefit will be calculatedbased on the insured Member’s part-time salary (if applicable).

Duty of disclosureThe Trustee’s Duty of disclosure

The Trustee, who enters into a life insurance contract in respectof your life, has a duty, before entering into the contract, to tellthe Insurer anything that it knows, or could reasonably beexpected to know, may affect the Insurer’s decision to providethe insurance and on what terms.

The Trustee has this duty until the Insurer agrees to provide theinsurance.

The Trustee has the same duty before it extends, varies orreinstates the contract.

The Trustee does not need to tell the Insurer anything that:

reduces the risk the Insurer insures you for; or

is of common knowledge; or

the Insurer knows or should know as an insurer, or

the Insurer waives your duty to tell the Insurer about.

You must disclose relevant information

You must tell the Insurer anything you know, or could reasonablybe expected to know, may affect the Insurer’s decision to providethe insurance and on what terms. If you do not do so, this maybe treated as a failure by the Trustee to tell the Insurer somethingthat the Trustee must tell the Insurer.

If you provide relevant information to the Trustee rather than theInsurer, The Trustee will provide the information you give theTrustee to the Insurer. The Trustee will do this so that you complywith your obligation to provide relevant information to the Insurer.

If the Trustee does not tell the Insurer something

In exercising the following rights, the Insurer may considerwhether different types of cover can constitute separate contractsof life insurance. If they do, the Insurer may apply the followingrights separately to each type of cover.

If the Trustee does not tell the Insurer anything the Trustee isrequired to, and the Insurer would not have provided theinsurance or entered into the same contract with the Trustee ifthe Trustee had told the Insurer, the Insurer may avoid thecontract within 3 years of entering into it.

If the Insurer chooses not to avoid the contract, the Insurer may,at any time, reduce the amount of insurance provided. This wouldbe worked out using a formula that takes into account thepremium that would have been payable if the Trustee had toldthe Insurer everything it should have. However, if the contractprovides cover on death, the Insurer may only exercise this rightwithin 3 years of entering into the contract.

If the Insurer chooses not to avoid the contract or reduce theamount of insurance provided, the Insurer may, at any time varythe contract in a way that places the Insurer in the same position

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it would have been in if the Trustee had told the Insurer everythingit should have. However this right does not apply if the contractprovides cover on death.

If the failure to tell the Insurer is fraudulent, the Insurer may refuseto pay a claim and treat the contract as if it never existed.

If you do not tell the Insurer somethingIn exercising the following rights, the Insurer may considerwhether different types of cover can constitute separate contractsof life insurance. If they do, the Insurer may apply the followingrights separately to each type of cover.

If you do not tell the Insurer and Trustee anything you are requiredto, and the Insurer would not have provided the insurance orentered into the same contract with the Trustee if you had toldthe Insurer, the Insurer may avoid the contract within 3 years ofentering into it.

If the Insurer chooses not to avoid the contract, the Insurer may,at any time, reduce the amount of insurance provided. This wouldbe worked out using a formula that takes into account thepremium that would have been payable if you had told the Insurerand the Trustee everything you should have. However, if thecontract provides cover on death, the Insurer may only exercisethis right within 3 years of entering into the contract.

If the Insurer chooses not to avoid the contract or reduce theamount of insurance provided, the Insurer may, at any time, varythe contract in a way that places the Insurer in the same positionit would have been in if you had told the Insurer and the Trusteeeverything you should have. However this right does not applyif the contract provides cover on death.

If the failure to tell the Insurer is fraudulent, the Insurer may refuseto pay a claim and treat the contract as if it never existed.

Competitive premiumsPremiums are based on the type and level of cover you or EYchoose along with various factors such as your age, gender andoccupation. They are recalculated at each review date basedupon your age, occupation and/or any increase in the suminsured.

Your premium will be calculated using the unit rate or individualrates shown on pages 20 and 21 of this Booklet. If you are aCasual Employee of EY, your level of cover will be based on yourage as shown in the table of benefits on page 24 of this Bookletat a cost of $0.95 per unit per week paid monthly in advance.

For Permanent Employees only, EY pays for your defaultinsurance cover (if any) by making additional contributions intoyour super account to cover the cost of the Insurance fees ofyour default level of insurance cover under the default benefitdesign. The Insurance fees in relation to any additional VoluntaryCover you hold is paid by you.

Please see pages 22 to 23 of this Booklet for the premium ratesapplicable to Voluntary Cover.

Your Welcome Pack will show you the level of cover that appliesto you, and your insurance premium. Future premium rates arenot guaranteed to stay the same as current premium rates. TheInsurer reserves the right to change the premium rates under thePolicy, including at any time in the event of war in Australia, NewZealand or your country of residence or if there is a change inany government charge, licence, fee, tax or any other impostthat is directly attributable to the Policy.

If any aspect of the membership profile (including number,gender, age, occupation) changes from that existing at the policystart date, or the date on which the Insurer last reviewed thepremium rates, by more than 25%, the Insurer may vary the

premium rates during the rate guarantee period. The Insurer mayalso stop accepting new Insured members, vary the automaticacceptance terms or vary or remove the AAL.

We will deduct your Insurance fee from your account monthly inadvance. As we are not liable to meet the cost of your insurance,if you do not have enough cash in your account we may berequired to sell a portion of your investments in your account topay the Insurance fee. If your account balance is insufficient tocover the Insurance fee, the Insurer will allow you up to 30 days(from the premium due date) to pay your Insurance fees beforeyour insurance cover will cease. You will be advised in writing ofthe date when all cover will cease if the Insurance fees are notpaid.

Please see the ‘Insurance in your super’ section in the PDS fordetails of the circumstances where EY covers the Insurance fees.

Cancellation or reduction of coverYou may cancel or reduce your cover at any time by providingus with written notice, or by completing the Account Amendmentform.

If you decide to cancel your cover, the final insurance fee payablewill be the monthly insurance fee paid immediately prior to thedate your cover is cancelled.

If you decide to reduce the amount of your cover, this will beeffective from the date we receive your valid request and yourmonthly insurance fees will be adjusted accordingly from yournext monthly insurance fee deduction.

Please note: before you exercise your option to cancel or reduceyour cover, we recommend you talk to your financial adviser, ifapplicable.

If you subsequently wish to obtain cover, you will need to applyand be Underwritten and accepted by the Insurer. The Insurercan decline to accept any application for insurance.

Transfer insurance from another policy intoyour planYou can apply to transfer death only or death and total andpermanent disablement insurance cover you may have throughanother arrangement (Previous Cover) to your account if at theAcceptance Date:

your Previous Cover is held through another superannuationlife insurance policy other than in Asgard Employee Super (youcannot transfer cover from an individual policy (non-super),non-super group policy or with a self managed super fund),

your Previous Cover is valid and current,

you satisfy the eligibility criteria applicable to the Policy,

you have not made, nor are entitled to make a claim and arenot eligible to be paid a benefit, in relation to your PreviousCover.

The following terms and conditions apply to an application totransfer your insurance cover from another superannuation lifeinsurance policy (Individual Transfer Application):

you can only apply to transfer Previous Cover up to$1,000,000, subject to the maximum benefit level;

you must complete to the Insurer’s satisfaction, the InsuranceTransfer Application form, which will contain questionsregarding your health;

the Insurer will determine the Insurance Transfer Applicationonly upon receipt of all evidence it reasonably requires toassess the application and verify the Previous Cover, its validityand currency; and

Limited Cover does not apply to Insurance TransferApplications.

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If the Insurer accepts your Insurance Transfer Application, cover(Transferred Cover) will be provided in accordance with all of thefollowing:

the Transferred Cover will be in addition to any cover held byyou under the Policy;

if you hold unitised cover in Asgard Employee Super as at theAcceptance Date, you will be provided with a sufficient numberof units (rounded to the next highest unit, if rounding isrequired) to replace your Previous Cover in addition to yourexisting cover, subject to the maximum benefit level. Anyincrease in your unitised cover due to rounding up of units willbe New Events Cover;

if you hold formula based cover or fixed dollar cover in AsgardEmployee Super as at the Acceptance Date, you will beprovided with sufficient fixed dollar cover to replace yourPrevious Cover rounded up to the next highest multiple of$1,000 in addition to your existing cover, subject to themaximum benefit level;

if your Previous Cover was subject to the application of anyrestrictions, exclusions and/or premium loadings, the samespecial conditions will also apply to your Transferred Cover;and

the terms and conditions outlined in the Policy will apply toyour Transferred Cover and the terms and conditionsapplicable to your Previous Cover will no longer apply.

Any Transferred Cover will commence from the Acceptance Date,provided insurance fees are paid in respect of the TransferredCover. Insurance fees for the cover accepted by the Insurer willbe calculated based on your total insured amount of cover underthe Policy. The amount of insurance fees payable will berecalculated to reflect the increase in your insurance coveraccording to the applicable premium rates.

Please note: by transferring your insurance, you may lose relatedcover or your insurance fees may be affected. Before transferringyou should check with your other superannuation fund or yourfinancial adviser (if applicable).

The Insurer may need to contact your other super fund or itsinsurer to complete the assessment of your application. If theInsurer accepts your application, you will be advised in writingand you must cancel your Previous Cover upon notification ofthe decision.

Cancelling your Previous CoverInsurance cover is provided conditionally upon cancellation ofyour Previous Cover. Where the Insurer has agreed to acceptthe transfer of cover but your Previous Cover has not been validlycancelled, the amount of any benefit payable under the Policywill be reduced by the amount of any benefit paid or payableunder the Previous Cover that should have been cancelled.

To ensure you are covered at all times, do not cancel yourPrevious Cover until you are notified in writing that yourapplication to transfer your Previous Cover has been acceptedby the Insurer.

ClaimsThe Insurer must be advised in writing of any claim as soon asit is reasonably possible to do so. In the event of a claim for aTPD Benefit, the Insurer must be advised of a claim or potentialclaim on the earlier of:

within 30 days of the Event Date,

within 30 days after the expiration of the six month qualifyingperiod outlined in Part 1 of the TPD definition,

as soon as it is reasonably practicable to do so.

If the Insurer does not receive written notice within the timespecified, the Insurer may reduce or refuse to pay the insuredbenefit to the extent the Insurer’s assessment of the claim isprejudiced. You should advise us of circumstances giving riseto a potential claim to enable us to advise the Insurer inaccordance with the timings given above.

Payment of a claim is conditional upon the Insurer being providedwith a properly executed claim form and proof, in a form that issubject to the Insurer’s verification, of all of the following:

where the Insured Member was accepted (or an increase inthe insured benefit payable was accepted) under automaticacceptance or transfer terms, that the Trustee and the InsuredMember have met all of the Insurer’s requirements,

your entitlement to claim the applicable insured benefit, and

your age.

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You must establish an entitlement to an insured benefit by:

providing an original or certified death certificate (if applicable),a birth certificate (or other proof of birth to our satisfaction) andall other documentation the Insurer requires,

providing medical reports as the Insurer requires from anytreating Medical Practitioners,

when reasonably required by the Insurer (and at the Insurer’sexpense), being examined by a Medical Practitioner nominatedby the Insurer,

undergoing any pathology, blood tests, x-rays or any othermedical investigations the Insurer reasonably deems necessary,

undergoing an employability assessment,

being interviewed by the Insurer,

providing financial documentation (including, without limitation,tax returns, Notices of Assessment, Group Certificates andthe like), and

providing all other relevant information the Insurer requests.

The Insurer may require an Insured Member claiming a TerminalIllness Benefit or TPD Benefit whilst outside of Australia to returnto Australia, at the Insured Member’s own expense, for claimassessment and where the Insured Member refuses to do so,the Insurer may refuse to pay a benefit.

Any costs incurred outside Australia in connection with a claimin respect of an Insured Member who was overseas, must bepaid by the Trustee or the Insured Member. The Insurer mayagree to reimburse these costs at its discretion.

If an Insured Member’s age is misstated, the Insurer will adjustthe premium or the insured benefit based on the InsuredMember’s correct age.

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GlossaryFor the purposes of the Life Protection Cover only, or LifeProtection and TPD Protection Cover offered in Asgard EmployeeSuper, the following terms have these meanings unless thecontrary intention appears:

‘Acceptance Date’ – means the date the Insurer accepts anapplication in writing.

‘Accident’ – means a fortuitous, external event which wasunexpected and unintended causing death and/or injury.

Exclusions – events that are not Accidents

The following situations are not Accidents, and any claimsarising from these situations are excluded:

one of the contributing causes of death or injury was any ofthe following conditions:

illness,

disease,

allergy, or

any gradual onset of a physical or mental infirmity.

the injury or death, which was unintended and unexpected,was the result of an intentional act or omission, or

the Insured Member was injured or died as a result of anactivity in respect of which they assumed the risk or courteddisaster, irrespective of whether he or she intended injuryor death.

‘Activity/Activities of Daily Living’ – are:a. bathing and/or showering,b. dressing and undressing,c. eating and drinking,d. using a toilet to maintain personal hygiene,e. getting in and out of a bed, a chair or wheelchair, or moving

from place to place by walking, wheelchair or withassistance of a walking aid.

‘At Work’ – means the Insured Member is:a. actively performing all the duties of his or her usual

occupation;b. working his or her usual hours free from any limitation due

to illness or injury; andc. is not in receipt of and/or entitled to claim income support

benefits from any source including workers’ compensationbenefits, statutory motor accident benefits or disabilityincome benefits (including government income supportbenefits).

An Insured Member who does not meet these requirementsis correspondingly described as not At Work.

‘Australian resident’ – means an Australian citizen or a NewZealand citizen living in Australia on a permanent basis.

‘Automatic Acceptance Level’ – is the maximum amount ofcover available without Eligible Persons needing to give theInsurer any evidence of good health.

‘Benefit Expiry Age’ – means the age at which cover ceasesas set out in the Policy.

‘Casual Employee’ – means an Eligible Person working on atemporary, as required basis, is paid on an hourly basis forthe period worked, does not accrue entitlements for sick leaveand annual leave, and who is not otherwise a PermanentEmployee.

‘Certification Period’ – has the meaning given in the definitionof ‘Terminally Ill’ and ‘Terminal Illness’.

‘Cognitive Loss’ – means the Insurer has determined a totaland permanent deterioration or loss of intellectual capacity

that has required the Insured Member to be under continuouscare and supervision by another adult person for at least sixconsecutive months and, at the end of that six month period,they are likely to require ongoing continuous care andsupervision by another adult person, provided at least twoMedical Practitioners have certified that to be the case.

‘Contractor’ – means a person is performing all the normalduties of his or her work, is working on a contractual basisand is under a fixed term contract of not less than one year.

‘Date of Disablement’ – means:a. for Part (1) of the TPD definition, the first day after the expiry

of the Waiting Period;b. for all other parts of the TPD definition, the first day that all

of the elements of the definition are satisfied.

‘Decision Note’ – means the document issued by the Insurerin respect of an Insured Member when the Insured Member’sapplication for cover, an increase in cover or variation in coverhas been accepted by the Insurer, setting out details of thefollowing:a. the type and level of insured benefits provided for that

Insured Member;b. the date the cover starts or an increase in cover starts; andc. any special conditions applying.

‘Eligible Contributions’ – for measuring contributions inactivityconsists of:

Superannuation Guarantee contributions

additional employer contributions, or

personal contributions (including a rollover, contributionsmade by a spouse and government contributions).one ofthe contributing causes of death or injury was any of thefollowing conditions:

‘Eligible Person’ – means a person who meets the eligibilitycriteria under the Policy.

‘Event Date’ – means:a. for Part (1) of the TPD definition, the first day of the Waiting

Period during which the Insured Member, in the Insurer’sopinion, solely because of injury or illness, has not worked;

b. for Part (2) of the TPD definition, the date on which theInsured Member suffers a permanent impairment of at least25% of whole person function as described in the‘American Medical Association publication Guides to theEvaluation of Permanent Impairment’, 4th edition, or anequivalent guide to impairment approved by the Insurer,that results in the Insured Member’s Total and PermanentDisablement;

c. for Part (3) of the TPD definition, the date on which theInsured Member suffers the loss of the use of two limbs(where ‘limb’ is defined as the whole hand or the wholefoot), the sight in both eyes, or the sight in one eye and theuse of one limb;

d. for Part (4) of the TPD definition, the date on which theInsured Member suffers a Loss of Independent Existence;

e. for Part (5) of the TPD definition, the date on which theInsured Member suffers a total and permanent deteriorationor loss of intellectual capacity that results in the InsuredMember’s Total and Permanent Disablement.

‘Forward Underwriting Limit’ – means the amount up towhich the Insurer will accept future increases in the insuredbenefits, without further application from an Insured Member.

‘Full-time’ – means a person is performing all the normal dutiesof his or her occupation and is working at least 30 hours perweek.

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‘Gainfully Working’ – means employed or self-employed forgain or reward in any business, trade, profession, vocation,calling, occupation or employment.

‘Gainful Employment ’ – means any occupation or work forreward or financial benefit, or the hope of reward or financialbenefit, whether on a permanent or temporary basis, andwhether or not of a lesser grade, status or level of remunerationor for lesser hours than the Insured Member’s occupation oroccupations or work.

‘Inactive and Inactivity’ – means you have an account thatis inactive within the meaning of the Superannuation Industry(Supervision) Act 1993.

‘Insured Member’ – refers to a person who is covered by thePolicy and is a Member.

‘Loss of independent existence’ – means a conditionwhereby the Insurer has determined the Insured Member istotally and irreversibly unable to perform at least two of thefive Activities of Daily Living without the assistance of anotheradult person.

‘Medical Practitioner’ – means a registered and qualifiedmedical practitioner in Australia, or another country asapproved by the Insurer, who is not the Insured member andnot related to the relevant Insured Member.

‘Member’ – means a member of Asgard Employee SuperAccount – Ernst & Young (Asgard Employee Super)

‘New Events Cover’ – means the Insured Member will not becovered for any Pre-existing Condition. The Insured Memberwill only be covered for an illness which became apparent tothe Insured Member, or any injury which occurred to theInsured Member, on or after the date that cover commenced,recommenced or increased (as applicable) under this Policy.

‘New Member’ – means a Member who satisfies the following(a) and (b) or (c):a. is not insured for any amount of TPD cover under this Policy

as at 30 June 2014; andb. the Insured Member’s TPD cover under this Policy first

commenced on or after 1 July 2014; orc. the Insured Member’s TPD cover under this Policy

recommences on or after 1 July 2014.

‘Part-time’ – means a person is performing all the normalduties of his or her occupation and is working at least 15 hoursper week but less than 30 hours per week.

‘Partner’ – means an Eligible Person engaged as a Partner ofErnst & Young Services Pty Ltd or an associated company.

‘Permanent Employee’ – means an Eligible Person workingon a permanent Full-time or Part-time basis (including aContractor) and not as a Casual Employee.

‘Policy’ – means the Master Policy (including the PolicySchedule to the Master Policy), each application for cover andassociated documentation from an Insured Member or anEligible Person, any notices issued or received by the Insurerunder the Policy, the Decision Note and any written variationof the Policy.

‘Pre-existing Condition’ – means an injury that first occurred,or an illness which first became apparent, to the InsuredMember, or any directly or indirectly related condition, beforethe date cover in respect of that Insured Member commenced,recommenced or increased.

‘Salary’ – means:where the Insured Member is employed, the annualremuneration which the Insured Member receives from theiremployer for the Insured Member’s personal exertionimmediately prior to the date giving rise to the InsuredMember’s death or disablement (as the case may be), beforethe deduction of income tax, including:

cash salary

salary sacrifice superannuation contributions

employer Superannuation Guarantee contributions

the monetary value of non-cash benefits or fringe benefitsprovided by the Insured Member's employer in directsubstitution of salary (as long as the fringe benefitscontinue to be provided to the Insured Member afterdisability benefits payments have commenced).

‘Specialist Medical Practitioner’ – means a MedicalPractitioner who is a specialist practising in the relevant medicalfield of the Insured Member’s illness or injury.

‘Terminal Illness or Terminally Ill’ – means:an illness or injury where all of the following (a), (b), (c) and(d) are satisfied in respect of an Insured Member:

a. two Medical Practitioners certify in writing (WrittenCertification) that the Insured Member suffers from an illnessor has incurred an injury that is likely to result in the InsuredMember’s death within 12 months from the date of WrittenCertification (Certification Period);

b. at least one of the Medical Practitioners is a Specialistmedical Practitioner, and one which may be appointed bythe Insurer;

c. for each Written Certification, the Certification Period hasnot ended; and

d. the Written Certification by both Medical Practitioners mustbe dated during the period the Insured Member is insuredfor Death Cover under the Policy.

‘Terminal Illness Benefit’ – means, in respect of an InsuredMember, the lesser of:

The Death benefit, as at the date of the latest WrittenCertification; and

$2.5 million.

‘Total and Permanent Disablement, Total and PermanentDisability, Totally and Permanently Disabled or TPD’ –means (for Members who obtained new TPD cover on or after1 July 2014):

An Insured Member satisfies at least one of the followingParts (1), (2), (3), (4), or (5) of the TPD definition and in theInsurer’s opinion based on the medical or other evidencesatisfactory to the Insurer, and certified by at least twoMedical Practitioners, solely because of illness or injury, theInsured Member, as at the Date of Disablement, is unlikelyever to engage in any Gainful Employment for which he orshe is reasonably suited by education, training or experience.

Part 1 – Unlikely to return to workthe Insured Member is Gainfully Working when sufferingan illness or injury and, in the Insurer’s opinion based onmedical or other evidence satisfactory to the Insurer, solelybecause of injury or illness, the Insured Member has notworked during the entire Waiting Period.

Or

Part 2 – Permanent impairmentthe Insured Member is Gainfully Working when sufferingan illness or injury and, as a result of that illness or injury,he or she suffers a permanent impairment of at least 25%of whole person impairment as defined in the ‘AmericanMedical Association publication Guides to the Evaluationof Permanent Impairment’, 4 edition, or an equivalentguide to impairment approved by the Insurer.

Or

Part 3 – Specific loss

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as a result of illness or injury, the Insured Member suffersthe total and permanent loss of the use of either:

two limbs (where ‘limb’ is defined as the whole handor the whole foot), or

the sight in both eyes, or

one limb and the sight in one eye,

which is certified by at least two Medical Practitioners.

Or

Part 4 – Loss of independent existenceAs a result of illness or injury, the Insured Member suffersLoss of Independent Existence and at least two MedicalPractitioners have certified that to be the case.

Or

Part 5 – Cognitive lossAs a result of illness or injury, the Insured Member suffersCognitive Loss.

‘Underwritten’ means the process the Insurer undertakes toassess an Eligible Person’s application for cover, includingobtaining and considering information concerning their medical,health and employment status and such other information asthe Insurer, in their sole discretion, require.

‘Visa’ – means a current and valid visa issued in accordancewith the Migration Act 1958 (Cth) or any amending or replacingAct which enables an Eligible Person or Insured Member towork in Australia.

‘Voluntary Cover’ – means cover which is:Underwritten and approved by the Insurer; or

Transferred to this Policy as a result of the Insured Membersubmitting the Insurance Transfer Application which hasbeen approved by the Insurer; or

Provided under Future Insurability terms of the Policy.

‘Waiting Period’ – means a 183 consecutive day period.

‘Written Certification’ – has the meaning given in the definitionof ‘Terminally Ill’ and ‘Terminal Illness’.

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Insurance premium ratesThe Premium Rates stated in this section are exclusive of stamp duty.

1. Permanent employees: Life Protection (Death) and Total & Permanent Disability - employerfunded 'default' coverThe premiums shown are the annual amount payable per $10,000 of insurance cover. Your employer Ernst & Young pays the cost ofthese premiums by making additional contributions to your super.

Note: TPD cover is only available with Death cover.

FemaleMaleFemaleMaleAge next birthday

TPD OnlyTPD OnlyDeath OnlyDeath Only

0.310.671.503.7216

0.310.671.503.7217

0.310.671.503.7218

0.310.671.503.7219

0.310.671.503.7220

0.350.751.433.5221

0.370.811.363.3122

0.390.861.273.1023

0.410.901.192.9124

0.430.931.112.7225

0.430.961.052.5426

0.461.000.992.3927

0.511.050.962.3028

0.581.120.952.2529

0.651.200.962.2230

0.741.280.972.1931

0.851.371.022.1732

0.991.491.102.2033

1.151.621.192.2434

1.341.771.292.2935

1.551.921.392.3236

1.812.091.512.3837

2.112.301.642.4738

2.462.581.782.6139

2.852.891.932.7640

3.353.302.122.9841

3.893.792.313.2342

4.424.362.463.5343

4.955.042.583.8744

5.515.822.694.2445

6.096.632.784.5946

6.817.562.914.9747

7.738.613.095.3848

8.859.803.315.8249

10.1811.153.566.3050

11.6712.663.896.8151

13.2514.354.307.3552

14.8916.234.717.9253

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FemaleMaleFemaleMaleAge next birthday

TPD OnlyTPD OnlyDeath OnlyDeath Only

16.6418.335.138.5254

18.3020.425.579.1655

19.8922.506.069.8556

21.5724.896.5710.6357

23.2827.707.0911.5458

25.0830.967.6412.5659

26.9834.628.2213.6860

29.1138.718.8714.8861

31.6943.199.6516.1462

34.9148.0310.6417.4363

38.7853.2811.8118.7764

43.1559.0613.1520.1765

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2. Voluntary Cover - Premium ratesThese premium rates apply to Members who have voluntary (ie Underwritten) cover within the EY plan. Members pay the cost of theseinsurance premiums.

Annual group Life rates per $10,000 sum insured

FemaleMaleFemaleMaleAge next birthday

TPD OnlyTPD OnlyDeath OnlyDeath Only

0.350.751.694.1816

0.350.751.694.1817

0.350.751.694.1818

0.350.751.694.1819

0.350.751.694.18200.390.841.603.9521

0.420.911.533.7222

0.440.971.423.4923

0.461.011.343.2724

0.481.051.253.0625

0.491.081.182.8626

0.511.121.112.6927

0.571.181.082.5828

0.651.261.072.5329

0.731.351.072.4930

0.831.441.092.4631

0.951.541.152.4432

1.111.671.242.4733

1.291.821.342.5234

1.501.991.442.5735

1.742.151.562.6136

2.032.341.692.6737

2.372.591.842.7838

2.762.902.002.9339

3.213.252.173.1040

3.773.712.393.3541

4.374.252.593.6342

4.974.902.763.9743

5.575.672.894.3544

6.206.543.024.7645

6.857.453.125.1546

7.658.493.275.5847

8.689.673.476.0448

9.9511.013.726.5449

11.4412.534.007.0850

13.1114.234.377.6651

14.8916.124.838.2652

16.7418.245.308.9053

18.6920.605.779.5854

20.5622.956.2610.2955

22.3525.286.8111.0756

24.2427.977.3911.9557

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FemaleMaleFemaleMaleAge next birthday

TPD OnlyTPD OnlyDeath OnlyDeath Only

26.1631.137.9712.9758

28.1834.798.5914.1259

30.3238.909.2415.3760

32.7143.499.9716.7261

35.6148.5410.8518.1462

39.2353.9711.9519.5963

43.5759.8713.2821.0964

48.4866.3714.7722.6765

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3. Rate for Casual Employee Category ofMembershipSum insured for $0.95 per Member per unit per week – LifeProtection and Total & Permanent Disability Protection.

Death & TPD Sum InsuredAge next birthday

$138,00016

$138,00017

$138,00018

$138,00019

$138,00020

$138,00021

$138,00022

$138,00023

$138,00024

$138,00025

$138,00026

$138,00027

$138,00028

$138,00029

$138,00030

$138,00031

$138,00032

$138,00033

$138,00034

$138,00035

$138,00036

$128,30037

$124,20038

$119,50039

$115,40040

$110,40041

$106,20042

$101,40043

$97,10044

$92,40045

$88,40046

$83,80047

$79,10048

$74,80049

$70,30050

$66,30051

$61,50052

$57,00053

$52,30054

$48,20055

$43,50056

$39,20057

$34,70058

Death & TPD Sum InsuredAge next birthday

$30,20059

$26,10060

$21,40061

$16,90062

$13,50063

$13,50064

$13,50065

Death Only Sum InsuredAge next birthday

$11,90066*

$11,90067*

$11,90068*

$11,90069*

$11,90070*

*Casual Employee Members who are aged 66 next birthday and olderare covered for Life Protection only.

4. Excess TPD Loading for Personalmembers onlyOnce a Member becomes a Personal member of AsgardEmployee Super Account, a premium loading of 13.41% willapply if a Member’s TPD sum insured is higher than their Lifesum insured. This premium loading will only apply to the excessTPD amount.

For example, if a Member has Life cover of $200,000 and TPDcover of $400,000, the premium loading will apply to the excessTPD amount of $200,000.

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asgard.com.au

client.support@asgard.com.auPO Box 7490, CloistersSquare, WA 6850

1800 155 235

AS50048-1020ox