- Entry age is from age 16 to age 63.
Level of cover
- You can insure up to a maximum of $3 million, subject to financial and medical underwriting.
- You can ‘inflation proof’ your cover by increasing it each year in line with the CPI.
- Payable fortnightly, monthly, half-yearly or yearly.
- Premiums are fixed for one year at a time and will normally increase annually in line with age.
- Your cover can either be held on its own or added to your life insurance policy
- If added to a life policy, you can select either an ‘accelerated benefit’ or a ‘stand alone benefit’.
- The lump sum will be paid if you become totally incapacitated through injury or illness to the extent that you are unlikely to ever perform the duties of your own or any other occupation for which you are suited by way of your education, training or experience.
- An ‘own occupation’ definition is available for certain professional groups.
Accelerated or stand alone benefits
- If you select the accelerated benefit, and a claim is paid, the amount of the claim will be deducted from the life cover on your policy
- If you select the stand alone benefit, the payment of a claim will not reduce the life cover under the policy
Occupation includes unpaid home duties
This policy can include unpaid home duties as an occupation and therefore a house-person can also be covered. The policy requires that, as a result of your disability, you are confined to your principal place of residence.