You can better manage insurance in your super with a good understanding about how premiums work.

Factors that affect the premium you pay


Your premium depends on the types and levels of cover you have. Your premium amount may change in the future and generally increases as you get older.


Your premiums may also be affected by:

  • your gender
  • your occupation
  • the state of your health
  • your smoker status
  • any sports you play or recreational activities you’re involved in
  • any changes in the consumer price index (CPI or inflation)
  • your waiting period and benefit period for Salary Continuance Insurance (SCI)
  • your Total and Permanent Disablement (TPD) cover definition.

From time to time, insurers review premium rates to make sure that members are paying the appropriate amount for their insurance cover. This is so the insurer can continue to pay claims to members in their time of need.


Generally, your premiums are deducted from your super account. Employers might make additional contributions to cover insurance premiums as part of your remuneration package.

What are waiting periods and benefit periods and how do they affect my premiums?


If you have Salary Continuance Insurance (SCI), also known as Income Protection (IP), your premiums will cost more if you choose a longer maximum benefit period.


However, you will only receive benefits for the period you are unwell. This may be shorter than your chosen benefit period.


A waiting period is the amount of time an insured person has to be disabled before getting their regular monthly payment. Generally, your premium will cost more if you choose a shorter waiting period.


Regardless of your waiting period, you should notify us of your intention to claim as soon as possible.

How do I know my premium amount?


You can check your benefit statement or get in touch with your financial adviser.


If you’re a FirstChoice Super member, you can check your insurance premiums on FirstNet.


Take a look at our insurance booklets


You can read more about premiums by reading our insurance booklets:

What's next


Apply for more cover

You’ll need to provide us with some identification and details before you apply



How to cancel or reduce your insurance cover

You can reduce or cancel your cover at any time

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Things you should know

Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Investments and FirstChoice Wholesale Investments. 


Information on this webpage is provided by AIL and CFSIL. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at or by calling us on 13 13 36.