What is retail insurance?

"Retail insurance" means policies you hold directly with an insurer, outside your super fund. They typically include:

  • Life insurance — pays a benefit on death or terminal illness
  • Total and Permanent Disablement (TPD) — held outside super, often with broader definitions
  • Income protection — usually more flexible than super-based IP
  • Trauma / critical illness — pays a lump sum on diagnosis of specified conditions

Retail policies often carry broader cover than their super-based equivalents — more generous definitions, longer benefit periods, and extra features. Yet many people forget what they hold, or don't realise these policies still apply.

How retail differs from super-based cover

  • You pay premiums directly, rather than from your super balance
  • Cover is usually broader, with more flexibility in the definitions
  • Trauma cover is generally only available retail, not through super
  • Benefit amounts can be higher
  • Disability definitions may be more favourable (for example, 'own occupation')

Don't forget what you signed up for years ago. People often took out retail cover when they bought a home, started a family, or acted on a financial planner's advice — then forgot about it. Policies you haven't reviewed in a while may still be active.

When retail insurance matters

If you've been diagnosed with a serious condition, suffered an injury, or stopped working, your retail policies may pay out alongside — or instead of — your super-based cover. A retail TPD claim sometimes succeeds where a super TPD claim has been declined, thanks to the broader definitions.

How CantWork helps

We help you check what retail cover you may hold, what your policies say, and whether your situation may qualify. The Free Claim Check is a no-obligation way to map out what exists and what your options are.

Not sure if this applies to you?

Start with a Free Claim Check — we'll help you understand if there's a pathway worth exploring.

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