lifePLUS fees and premiums

Insurance fees: $18 a year

Our insurance fee is $1.50 per month (or $18 a year). This covers the cost of providing insurance to you.

We calculate the insurance fee on a pro rata basis at the end of each calendar month, and the amount is deducted from your PSSap account at the beginning of the following month. 

Premiums are calculated on the cover you hold

Premiums are the amount you pay for the insurance cover you hold, and they are deducted from your PSSap account—unless you opt out of cover or cancel your cover, or your cover stops for another reason (for example, if your account has become inactive).

The cost of your cover is based on your age at your last birthday, and how much you’re insured for under lifePLUS auto or lifePLUS choice. 

We calculate Income Protection and Death and Total Permanent Disablement (TPD) premiums at the end of each calendar month. Premium amounts vary slightly month-to-month, depending on the date you joined and the number of days in each month.