Professional and Executive occupation category
Save on your insurance with our Professional and Executive category
If you’re a GESB Super or West State Super member with insurance cover, you might be eligible to join our Professional and Executive occupation category.
If you meet the eligibility criteria, you could keep your current level of cover but save on your insurance premiums:
- You could pay 20% less for your Death and Total & Permanent Disablement (TPD) cover
- You could pay 10% less for your Salary Continuance Insurance (SCI)
The cost of your insurance is deducted directly from your GESB Super or West State Super account each month. Paying less for your insurance means more money will stay invested in your super - and this could make a big difference to your retirement savings over time.
You could save on premiums and your Death and TPD cover will be fixed
Once you become covered for our Professional and Executive category, the value of your Death and/or TPD cover will be fixed automatically. This means you’ll be covered for the same amount until you turn 61, unless you choose to change it in the future.
When you turn 61, the amount of TPD cover you are entitled to will reduce annually, until you’re no longer covered when you turn 65. Your Death cover will remain fixed (unless you change it), until it expires when you turn 70.
It’s easy to check whether you’re eligible - here’s what to do in three simple steps.
1. Find out if you're eligible
You can apply for our Professional and Executive occupation category if you meet ALL of these criteria:
- You earn a gross income of at least $100,000 a year1
- You primarily work in an office environment and sedentary capacity2 no less than 80% of the time (excluding travel time from office to office)
- You meet either the Professional or Executive definition:
- Professional: you hold a tertiary qualification or are a member of a professional institute or body approved by our Insurer3
- Executive: you’re part of your employer’s executive management team4
If you work part time, you could still be eligible to apply if your pro-rata income is $100,000 p.a. or more and you work at least 0.6 Full-Time Equivalent (FTE). For example, if you work three days a week and earn $63,000 p.a., your Full-Time Equivalent would be $105,000 p.a., which is more than the $100,000 minimum amount.
2. Make sure you understand your insurance
It’s important that you understand how your insurance works before making any changes. When you apply for the Professional and Executive category, you’ll need to confirm that you’ve read our Insurance and your super brochure.
3. Apply for our Professional and Executive occupation category
If you are eligible, there are two ways you can apply:
- Complete the online form
- Download our Professional and Executive category brochure and complete the form on pages 3 and 4
If you need help with filling out the paper-based form, see how to join our Professional and Executive occupation category for step-by-step instructions.
1 If you are working at least 0.6 FTE (Full-Time Equivalent) and earn an equivalent full-time salary of $100,000 p.a. or more, you meet the salary criteria.
2 Our Insurer, AIA Australia, has provided special approval for the following occupations as meeting the requirements for working in an office environment and sedentary capacity, even though they appear to be non office-based roles: Specialist Medical Practitioners, General Medical Practitioners, Legal Professionals, Solicitors, Dental Practitioners, Legislators, Judicial and Other Legal Professionals, Pharmacists and school Principals. (Note: Nurses and School Teachers do not meet the requirement of working in an office environment and sedentary capacity).
3 The Insurer has approved a set number of professional institutes and bodies. If you do not hold a tertiary qualification or work in an executive management position and are unsure if your professional institute or body qualifies, contact your Member Services Centre on 13 43 72.
4 You are considered part of the executive management team if you are the Chief Executive Officer or similar position, or report directly to the Chief Executive Officer, or are employed in the Senior Executive Service, or are a Member of Parliament.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 30 May 2020.