PSA CPSU NSW members have access to an income protection policy provided through WageCover. This product is an optional benefit for you as the member to take up individually.
The policy offers competitive premiums, cover and benefits should you become injured or sick outside of working hours.
There are cover options available to suit your financial needs, a 14-day waiting period before coverage commences, 104-week benefit period and the policy includes a death and funeral benefit as a lump sum benefit due to an accident.
This policy also includes Workers Compensation top-up cover. Should you be on a payable workers compensation claim for a period of more than 13 weeks, and your salary drops from 95% to 80%, this policy will provide cover for 10% of your salary to bring you back up to 90% of your salary (capped at the relevant PIAWE for 104 weeks).
Policyholders will not be required to exhaust all their sick leave before receiving payments and all premiums are tax deductible.
WageCover has a long relationship with Corrective Service members, whose high-risk status often makes it difficult to get income protection insurance. The new coverage will also cover other high-risk areas, such as Sheriff’s Officers and Rural Fire Service staff.
This is yet another benefit of PSA CPSU NSW membership that can help combat the rising cost of living.
For full details of the cover, please see the attached application form and PDS. Or should you wish to discuss this policy, please contact WageCover on 02 9970 8411 or email us .