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HESTA Announces 12% Reduction in Insurance Fees to Benefit Members

Superannuation Fund Enhances Affordability and Accessibility of Insurance Coverage

HESTA Announces 12% Reduction in Insurance Fees to Benefit Members?w=400

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HESTA, a leading Australian superannuation fund, has unveiled a significant reduction in insurance fees, aiming to make coverage more accessible and affordable for its members.
Effective from 1 July 2026, the fund will implement an average 12% decrease across all insurance cover types, including death, total and permanent disablement (TPD), and income protection.

This initiative is part of a broader strategy to enhance member benefits and ensure that insurance premiums do not unduly erode retirement savings. The fee reductions are as follows:

  • Death cover: Average fee decrease of approximately 6%.
  • TPD cover: Average fee reduction nearing 15%.
  • Income protection: Average reductions ranging from 1.4% to 23.5%, depending on the benefit period.

These adjustments mean that insured HESTA members will retain more funds within their superannuation accounts, potentially leading to greater retirement savings over time.

In addition to the fee reductions, HESTA has introduced several enhancements to its insurance offerings:

  • Strengthened protection during pregnancy.
  • Improved insurance fee waivers during parental leave.
  • Streamlined processes for members applying for insurance cover.


With over 630,000 members holding insurance cover through their superannuation, HESTA's proactive measures are set to have a substantial positive impact on a significant portion of the Australian workforce.

For more detailed information, members can visit HESTA's official website or contact their member services team.

Published:Monday, 18th May 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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