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HESTA Announces 12% Reduction in Insurance Fees for Members

Enhancing Affordability and Protection for Real Estate Professionals

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

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

HESTA, a prominent superannuation fund, has unveiled a significant reduction in insurance fees, averaging 12% across all cover types, effective from 1 July 2026.
This initiative aims to provide more accessible and affordable insurance coverage for its members, including real estate professionals who rely on comprehensive protection.

Key aspects of the changes include:

  • Fee Reductions: Members will experience average decreases of approximately 6% for death cover and nearly 15% for total and permanent disablement (TPD) cover. Income protection fees will see reductions ranging from 1.4% to 23.5%, depending on the benefit period.
  • Enhanced Protection During Pregnancy: The fund has strengthened protections for members during pregnancy, ensuring continued coverage during this critical period.
  • Improved Parental Leave Provisions: HESTA has enhanced the insurance fee waiver during parental leave, alleviating financial burdens for members taking time off to care for their families.
  • Simplified Application Process: Members can now apply for increased death (up to a total of six units) and income protection (up to a total of 12 units) cover at any time by completing a short personal health statement, streamlining the process and making it more user-friendly.

For real estate agents, agency owners, and property managers, these changes offer several advantages:

  • Cost Savings: Lower insurance fees mean more funds remain invested in superannuation accounts, contributing to long-term financial growth.
  • Comprehensive Coverage: Enhanced protections during pregnancy and improved parental leave provisions ensure continuous coverage during life events that may impact work.
  • Flexibility: The simplified application process allows for easy adjustments to coverage levels, accommodating the dynamic nature of the real estate profession.

HESTA's commitment to reducing insurance fees and enhancing member protections reflects a broader industry trend towards making insurance more accessible and tailored to the needs of professionals. Real estate agents are encouraged to review their current insurance arrangements and consider how these changes may benefit their personal and professional circumstances.

For more detailed information on the specific fee reductions and coverage enhancements, members should consult HESTA's official communications or contact their financial advisors.

Published:Saturday, 23rd 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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Knowledgebase
Term Life Insurance:
A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.

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