The SDA’s free Accident Insurance Scheme has been significantly improved to offer even stronger support and greater peace of mind for financial members.
From 1 July 2025, SDA members will be covered for up to $112,000 in the event of serious accidents occurring outside of work. The SDA free accident insurance scheme now also provides a benefit payout to members injured due to unprovoked workplace assault, where a police report is made and medical treatment is given.
This upgrade is part of the SDA’s commitment to supporting you both at work and beyond. While workers’ compensation applies on the job, the SDA Accident Insurance Scheme ensures you’re protected around the clock, every day of the year.
Always Free, Always for Members
The scheme remains completely free for all financial SDA members.
With approximately 200,000 members nationwide, the SDA uses its collective strength to negotiate quality cover that could cost individuals over $800 annually if taken out privately.
You’re also covered worldwide, subject to standard policy exclusions.
How to claim
If you are injured outside of work, please contact the SDA Office as soon as possible. Claims should be submitted within 30 days of the incident. You’ll receive guidance on what documents are needed and how to proceed.
For full terms and to check your eligibility, contact the SDA directly or ask for a copy of the insurance policy wording and schedule.
What’s new and improved
The upgraded policy has boosted existing benefits and added new ones. Some of the most significant changes include:
- $1,000 for a new workplace assault benefit payout to be given if you’re injured in an unprovoked workplace assault.*
- $60,000 for increased death benefit for member with dependants a 20% rise
- Up to $20,000 for increased funeral benefit previously $3,000, a massive 567% boost of $17,000.
- 53% increase in fracture benefits a new maximum payout of $1,800 per claim.