Document ID: chunk:federal_register_of_legislation:F2024L00653:body:0:p23
Version: federal_register_of_legislation:F2024L00653
Segment Type: other
Provision Reference: 
Character Range: 94159–98625

nature, where the primary work task(s) associated with the occupation does not have a physical element, where over 80 per cent of hours are spent in an office environment and minimal to no exposure to unusual occupational hazards.

Includes cover for category 3 occupations                                                  Means occupations that are active and of a light, blue-collar nature, where the primary work task(s) associated with the occupation involve light manual duties (under 20 per cent of time pent), and possible exposure to unusual occupational hazards. An example would be an employee supervising other staff performing blue collar activities.

Includes cover for category 4 occupations                                                  Means occupations that are active and of a blue-collar nature, where the primary work task(s) associated with the occupation involve manual duties (over 20 per cent of hours worked), and possible exposure to unusual occupational hazards. An example would be a qualified trades person.

Includes cover for category 5 occupations                                                  Means occupations that are active and of a heavy blue-collar nature, where the primary work task(s) associated with the occupation involve heavy manual duties, and possible exposure to unusual occupational hazards.

Includes cover for category 6 occupations                                                  Means an occupation that satisfies the dangerous occupation exception in section 68AAF of the SIS Act.

Income protection (IP) insurance                                                           Means the temporary incapacity cover provided to members, where 'temporary incapacity' has the meaning as in regulation 6.01 of the SIS Regulations.

Income protection benefit period                                                           Means the period of time a member will receive income protection payments over.

                                                                                           The income protection benefit period options are:

                                                                                               * Up To 1 Year;
                                                                                               * Up To 2 Years;
                                                                                               * Up To 5 Years;
                                                                                               * Until Age 60;
                                                                                               * Until Age 65;
                                                                                               * Until Age 67;
                                                                                               * Until Age 70;
                                                                                               * Other; and
                                                                                               * Not Applicable.
Income Protection Insurance (IP) (insurance cover type)                                    Insurance cover is provided for income protection (IP) insurance.

Income protection waiting period                                                           Means the period of time in days a member must wait before income protection payments can be made.

Indemnity Value (cover valuation basis)                                                    Means where insurance covers a person for a salary value that is verified when a claim is made.

Indirect cost                                                                              Has the meaning as in item 101, Schedule 10 of the Corporations Regulations 2001.

Indirect cost (non RSE licensee)                                                           Means the indirect cost that is separately disclosed by the external manager or product provider and is not disclosed by the RSE licensee. see cl 102(1)(h) of Sch 10.

                                                                                           For superannuation products, indirect costs form part of investment fees and costs or administration fees and costs: see cl 101of Sch 10. For managed investment products and notified foreign passport fund products, indirect costs form part of management fees and costs: see cl 102(1)(h) of Sch 10.

Indirect