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How does my occupation affect the cost of my premiums?

How does my occupation affect the cost of my premiums?

Different types of occupations have different levels of risks, and you occupation group may affect the cost of your insurance premium. The following table shows how we categories different occupations, so you can get an idea of where you might fit. This table is a guide only, and the criteria may change at any time. 

Product Type


  • Occupation group Description
    Professional

    Occupations of a professional nature. To qualify
    in this category, you must:

    • earn a salary of $80,000 pa or more
    • only work in an office environment in an
      occupation that requires no manual work
    White collar

    Occupations that require no manual work but do
    not otherwise meet the professional definition,
    for example:

    • clerical or administrative roles
    • managerial roles
    • sales roles that don’t involve travelling
      or making deliveries.
    Light blue collar

    Occupations that involve up to 20% manual activity.
    Examples include:

    • retail sales representatives
    • supervisors of manual workers who do not perform
      any manual work themselves.
    Medium blue collar

    Skilled occupations with a moderate amount of manual
    work. Workers must possess a trade certificate or
    appropriate licence and have no unusual accident
    hazard (such as working at heights above 15 metres,
    underground or underwater). Examples include:

    • electricians
    • mechanics
    • plumbers.
    Heavy blue collar

    Skilled occupations with a heavy amount of manual
    work, or where the potential for disability is high.
    Examples include:

    • bricklayers
    • couriers
    Heavy blue collar (death only)

    Skilled occupations with a heavy amount of manual
    work, where the potential for disability is high, or
    the potential for rehabilitation into other forms of
    employment is low. The insurer will restrict the cover
    to death only. Examples include:

    • concretors
    • plant operators
    • tree surgeons
    Uninsurable 

    Hazardous occupations or any other occupations
    the insurer won’t cover. Examples include:

    • underground miners
    • explosives handlers
    • professional sports people.
  • Occupation group Description
    Professional

    To qualify in this category, you must:

    • earn $80,000 pa or more a year
    • only work in an office environment
    • perform an occupation that requires
      no manual work.
    White Collar

    Occupations that require no manual work but
    do not otherwise meet the ‘Professional’ criteria.


    Examples include:

    • clerical or administrative roles
    • managerial roles
    • sales roles that don’t involve travelling
      or making deliveries.
    Light Blue Collar

    Occupations that involve up to 20% manual
    activity. Examples include:

    • retail sales representatives
    • supervisors of manual workers who do not
      perform any manual work themselves.
    Blue Collar

    Occupations that involve more than 20% manual
    work, such as cleaning, carpentry, plumbing, or
    lifting items weighing over 5kg. Examples include:

    • tradespeople
    • delivery drivers
    • mechanics.
    Not eligable

    Hazardous occupations or any other occupations
    the insurer won’t cover. Examples include:

    • underground miners
    • explosives handlers
    • professional sportspeople.
  • Occupation group Description
    Professional

    To qualify in this category, you must:

    • earn $80,000 pa or more a year
    • only work in an office environment
    • perform an occupation that requires
      no manual work.
    White Collar

    Occupations that require no manual work but
    do not otherwise meet the ‘Professional’ criteria.


    Examples include:

    • clerical or administrative roles
    • managerial roles
    • sales roles that don’t involve travelling
      or making deliveries.
    Light Blue Collar

    Occupations that involve up to 20% manual
    activity. Examples include:

    • retail sales representatives
    • supervisors of manual workers who do not
      perform any manual work themselves.
    Blue Collar

    Occupations that involve more than 20% manual
    work, such as cleaning, carpentry, plumbing, or
    lifting items weighing over 5kg. Examples include:

    • tradespeople
    • delivery drivers
    • mechanics.
    Not eligable

    Hazardous occupations or any other occupations
    the insurer won’t cover. Examples include:

    • underground miners
    • explosives handlers
    • professional sportspeople.
  • Rollover and Superannuation fund (please refer to your Rollover and Superannuation fund PDS)

For more detailed information

You can read more about preminums for super accounts by reading our insurance booklet:

 

Learn More

You can read more about insurance super accounts here.

Disclaimer

 

Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. This document may include general advice but does not take into account your individual objectives, financial situation or needs. 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. The PDS and FSG can be obtained from or by calling us on 13 13 36.

Colonial First State is a wholly owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries do not guarantee the performance of FirstChoice or the repayment of capital by FirstChoice.
The insurance provider is The Colonial Mutual Life Assurance Society Limited (CMLA) ABN 12 004 021 809, trading as CommInsure. CMLA is a non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFS Licence 234945 (‘the Bank’). The Bank has agreed to sell CMLA to AIA Group (AIA). This transaction is subject to certain conditions and regulatory approvals and is now expected to be completed in the second half of 2019.