A Beginner s Guide to Life Insurance

Size: px
Start display at page:

Download "A Beginner s Guide to Life Insurance"

Transcription

1 A Beginner s Guide to Life Insurance Weʼre all going to die. Except maybe that 80-year old Karate dude who celebrated his birthday with 100 pushups in 59 seconds! But we mere mortals? The writingʼs on the wall, plain and simple. Unfortunately, the insurance that covers this impending event isnʼt quite as clear. With all the different types, terms and policy variations, life insurance is about as clear as mud! Thatʼs why we wrote this guide. To explain life insurance in the simplest ways possible and help you in finding the protection you need, just in case a life event comes a bit too quickly. So, jump on board and get yourself acquainted with life insurance! 1

2 Contents Introduction... 1 Chapter 1: So what is life insurance really?... 4 Chapter 2: You might want to consider life insurance if... 5 You're a young, single professional... 5 You're a young couple with no children... 5 You're a young, working parent... 5 You're a business owner... 6 You're an older worker with no children at home... 6 You're an elderly person with no dependants... 6 Reasons you might want to consider life insurance... 7 Myths: Covering your family... 9 Chapter 3: What Kinds Are There? Life Cover: Income Protection: Trauma Protection Total Permanent Disability Business Expenses Keyperson Insurance Life insurance types at different life stages But do I actually need it? How much is enough? Chapter 4: Getting The Best Bang For Your Buck What to look out for when comparing different policies Stepped premiums and level premiums: What is the difference? What affects the cost of your life insurance? Myth: The co$t of life insurance Chapter 5: Life Insurance Features Additional options you might consider for your policy Life insurance through your superannuation Life insurance companies: Checklist to choose the right one Myth: Life insurance company myths Buyer beware: life insurance tips and traps to be aware of Chapter 6: Life Insurance Application: Easy Steps & You re Covered

3 What happens to the information I provide? Life Insurance medical exam Quick tips to prepare for your Life Insurance medical exam What happens after my application is assessed? What happens once my assessment is finalised? Chapter 7: Claiming Life Insurance But if youʼre dead, how do you claim? Claiming life insurance Claiming other types of insurance: Steps to a successful claim Donʼt forget the fine print Frequently Asked Questions

4 Chapter 1: So what is life insurance really? Life Insurance provides financial assistance to maintain your way of life, or that of your family in the event of serious illness, accident or death. While in the past life insurance was limited to death cover, paying a lump sum payment to ones dependents in the event of their death, it has expanded to give protection from other risks that may cause financial hardship. These are; Trauma Insurance or Critical Illness Cover: Pays lump sum payment if you are diagnosed with or suffer from a list of specific illnesses i.e. cancer, heart attack or stroke. Income Protection Insurance: Provides regular payment if you are unable to work due to accident or sickness. Will replace up to 75% of your income until you are fit to work...why only 75%? So you aren't tempted to milk the system when you are fit to work again! A great thing too is that for most people this insurance is tax deductible. Total and Permanent Disability Insurance: Pays a lump sum payment if an accident or sickness leaves you unable to work in your current occupation or any other line of work ever again. Business Expenses Insurance: Provides payment to cover ongoing costs associated with running your business if you are self employed and are unable to work due to serious illness or injury. This can help to cover wages, power bills, rent, etc and is also tax deductible. Key Person or Partner Insurance: Provides lump sum payment to cover losses incurred if a key worker in your company is seriously ill, injured or dies, but is also often used to ensure that in the event of the death of a partner in a business that their estate receives the share of the business without the surviving partner/s having to borrow. 4

5 Chapter 2: You might want to consider life insurance if You're a young, single professional Situation: Has just started full-time work. Living out of home with no dependents. Short-term debt: o University o Credit Card Few real financial commitments. Insurance You May Consider: Income Protection: Provide ongoing payment until you are fit to work. You're a young couple with no children Situation: Just married but still renting with no apartment. Insurance You May Consider: Life Insurance: May want to consider life insurance if one working spouse contributes more and would like to leave partner in better financial position if it does not cause financial strain at the time. TPD Insurance: To guard income in event of disability or serious injury leaving them unable to work. Income Protection: Provide ongoing payment until you are fit to work again. You're a young, working parent Situation: Beginning to move up in career. Has just purchased house. Married with two young children. Insurance You May Consider: 5

6 Life Insurance: Provide financial security to family in event of death. TPD Insurance: To guard income in event of disability or serious injury. Trauma Cover: Financial security if diagnosed from critical illness. Income Protection: Provide ongoing payment until you are fit to work. You're a business owner Situation: Partner within or owner of a rising or successful business Looking to protect workers that are assets to the company Insurance You May Consider Key Person or Partner Insurance: To provide cover in event of a key worker or business partner in the company is ill, injured or dies You're an older worker with no children at home Situation: Maximising wealth creation. Beginning to pay off mortgage. Looking to prepare for retirement. Career focused. Children about to begin university. Insurance You May Consider TPD Insurance: To guard income in event disability or serious injury leaving them unable to work. Life Insurance: Provide for spouse and other dependents in event of death. Trauma Cover: Financial security if diagnosed from critical illness. Income Protection: Provide ongoing payment until you are fit to work. You're an elderly person with no dependants Situation Retired with no dependants Insurance You May Consider: 6

7 Life Insurance: To cover any funeral costs or to provide to children or grand children in the event of death. Reasons you might want to consider life insurance Maintain your families standard of living. Pay off the mortgage on your house. 7

8 Pay off any outstanding debts. Provide for your children's education. 8

9 Pay off outstanding tax. Myths: Covering your family You donʼt have any dependents so you donʼt need coverage: What about your personal bills? What about protecting your income if you are injured? This applies for couples without children as well. Your Not the Main Breadwinner: This does not mean your loss wonʼt cause financial stress to your loved ones left behind. Government Benefits Will Look After the Family: The Federal Government does not have to pay support to your family in the event of your death. 9

10 Chapter 3: What Kinds Are There? Life Cover: Best Suited To: People with financial dependents. Could include spouse, sibling or aging parent. Purpose: Provides lump sum payment in the event of death that may be used to cover day to day expenses, your children's education, mortgage and any other outstanding debts. Payout Timing and Benefit Period: Most policies have a cooling off period of between 14 and 30 days before the lump-sum payment is made. Features: Accidental Death Benefit will provide coverage from the moment the policy is enforced. A waiver of premium feature will pay the premiums of the policy if you are unable to due to serious illness or injury. Some policies may include a long term care rider which will allow you to use the benefits to pay for long-term care in exchange for a reduced life benefit. Some policies will allow you to take out a joint policy to cover your spouse or child. Mortgage protection to pay out your mortgage in the event of your death. Income Protection: Best Suited To: All working people. Could be most important insurance for young singles with no dependents. Purpose: Pays up to 75% of your wage if you are unable to work due to serious illness or injury. Payout Timing and Benefit Period: Often between 30 or 90 days depending on the policy. Generally to age 65. Special Requirements: 10

11 You can usually apply for income protection Insurance if you are between18 and 65 years of age and an Australian resident. Must meet the minimum working requirements which will differ from provider to provider (generally at least 15 hours per week). Features: Will pay you a portion of your salary while you are unable to work, usually up to 75%. Ability to choose how long you want to be covered for or up to a certain age when retirement and superannuation benefits will begin. Covered for death. Income protection policy can pay a multiple of your monthly insured income to your dependents. Continuing superannuation contributions made while you are off work. Agreed Value or Indemnity? Agreed value policy is where the amount payable is agreed upon you and provider at the start of the policy. Indemnity policy is where you provide proof of your current earnings at the time of claim. Trauma Protection Best Suited To: Full-time parents unable to access income insurance or older people close to retirement looking to keep their savings protected. Purpose: Provides a lump-sum payment if you re diagnosed with major illness or injury to help pay for increased medical and living costs. Can also give financial security while you are recovering and in need of special care. Payout Timing and Benefit Period: Generally accidental types of traumas are paid out immediately. Special Requirements: Trauma Insurance will be paid out on illnesses recognised by insurance provider at the time of application. Not all trauma policies will cover the same illnesses. Key Features: 11 Actual trauma conditions that are covered will differ from policy to policy so it is important to review and compare products closely before applying. Death benefit can be included which will pay out the same value as the trauma benefit. May wish to purchase Buy back option to ensure a second payout is available if first benefit is used. This is also known as Trauma Reinstatement. Important to check for survival period-some policy may require a 48 hour survival period after certain types of trauma i.e. heart attack.

12 Total Permanent Disability Best Suited To: All working people. Could be most important insurance for young singles with no dependents. Purpose: Total and Permanent Disability Insurance provides a lump sum payment if you are totally and permanently disabled and unable to work again. Similar to Income Protection Insurance except it is not ongoing payments of a portion of your wage. It is a one off payout to the extent that you are expected to never be able to return to work again. Payout Timing and Benefit Period: Provides a lump sum payment to insured. Special Requirements: Cover is generally available to people aged between 16 and 60 and can be renewed up to age 65. Lump sum may be paid if the person is unable to work, has lost a limb or sight or is unable to conduct basic daily activities. Cover will cease if the insured has not worked full time for six months or is older than 65 years of age. Key Features: There are different definitions of what is considered unable to return to work; the first is where the person is incapacitated to the point of being unable to recommence any occupation suited to them from education, experience and training. The second is where the insured has been unable to work for six months and will never be able to work in their own occupation again. TPD provides a lump sum payment in comparison to income protection insurance where ongoing payments are made until the insured is fit to work. TPD can be offered as a standalone policy or as an extension of a term life insurance policy. TPD can be taken out through some superannuation funds. Business Expenses Best Suited To: Business owners. 12

13 Purpose: Pays a monthly cost to cover the ongoing costs of running your business if your become sick or injured and are unable to work. May be used to cover expenses such as staff salaries, rent on business premises, business loans, utility bulls, costs for lease of equipment and vehicles. Payout Timing and Benefit Period: Will typically continue to pay benefit for up to 12 months after a waiting period between 14 and 90 days. Key Features: Unlike Income Protection Insurance where the incurred will only receive up to 75% of your income, business expenses will generally cover 100% of eligible business expenses during the benefit period. You can update your business expenses insurance to reflect changing business needs. Some policies will allow you to work up to 10 hours w week without the benefit amount being affected. Some policies may include Crisis benefit which guarantees payment for a specific period if you suffer from a recognised medical condition. Keyperson Insurance Best Suited To: Business owners. Purpose: Provides a lump-sum or monthly benefit to policy owner when a key person suffers a critical illness, is permanently disabled or dies. Key Person insurance is owned by businesses to insure key employees of the company. Cover should be taken out for employees who are irreplaceable in the short term. For smaller companies it may protect the companies partners. Can be used to cover temporary expenses, insurance of profits, insurance of the interest of shareholders or partnerships, insurance of banking and loans. Payout Timing and Benefit Period: Provides lump sum payment. Key Features: May be used for the hiring or training of new staff. 13

14 Provides compensation if there is a loss of profit due to the absence of a key worker. For example projects may have to be put on hold or stopped altogether. Can provide compensation to spouse in the event of employees death. May be used to cover instances where a person is lost that was involved with oranisation of business loans. May be used to purchase shares in the company from the family of the insured. Life insurance types at different life stages But do I actually need it? Quick checklist to help you assess if you actually need life insurance Do you have a mortgage or any other long term debts? Do you have a spouse, children or any one else in your life that depends on you financially? Do you own a business? Do you have financial obligations that require you to continue working? 14

15 How much is enough? Quick checklist to help you assess how much cover might be necessary. How much is owning on your current mortgage and other debts? How old are your children and how much would you need to save for your children's education? Do any of your children have any special needs? How much do you earn now and how much do you expect to earn into the future? How much money would your family need to maintain their current lifestyle? 15

16 Chapter 4: Getting The Best Bang For Your Buck What to look out for when comparing different policies What is actually covered in the policy? Will I be covered if I die due to Illness as well as accidental causes? What illnesses are covered in plan? What are the suicide clauses? Is Trauma Insurance of Total and Permanent Disability Insurance Included? How much will be paid if a claim is made? What is the total amount that will be received in the event of my death? What are the requirements for payment being received? How much are the premiums? What will my premiums now and in the future? Stepped or level premiums? (link to that section) What features are available? How will these affect my premiums? Can I add them on later? Can I increase the cover amount? How will this change my premiums? Are there any additional fees for increasing my coverage? What is the cooling-off period? How long will it take for the actual payment to be made after a claim is lodged? Can I switch policies down the track? Will I be able to transfer the benefit already paid? Do I need to do another health check? 16

17 Stepped premiums and level premiums: What is the difference? When taking out Life, TPD, Trauma or Income Protection, you may choose to have your premiums structured in two ways; stepped or level. Stepped premiums: Future premium payments are recalculated as you grow older. Your premiums will be quite low in the early stages but will increase into the future. Level premiums: Total payment for premiums expected to pay over the course of the policy are averaged out and remain the same for the entire term. While stepped premiums may appear the cheaper option at the start of the policy, they will increase over time and in most cases by about the 7th year you will be paying the same as you would had you taken out stepped premiums. While the level premium will remain fixed, your stepped premium will continue to grow. Take a look at the example below to show the increase in premiums over the course of life insurance policy: Cover Age Male (Non Smoker) Premiums Female (Non Smoker) Premiums $100, $121 $97 35 $131 $ $151 $ $151 $124 What affects the cost of your life insurance? Age of the Buyer: Premiums rise according to age and health status. Once you take policy premium can never be altered across the course of your policy. Gender: Men generally higher premium for life insurance than women but less for income protection due to medical statistics. Pre-Existing Medical Conditions: People who suffer from diabetes, heart problems or who have a family history of life threatening conditions will generally have to pay a higher premium. Whether You Smoke: Smokers can pay up to % more. If you stop smoking for 12 months you can apply for non-smoking rate. Weight: Insurers use the Body Mass Index to determine whether you are overweight during your application. This could result in an increased premium. Lifestyle: People who travel participate in high-risk activities may be required to pay a higher premium. For example, someone who races motorcycles may be subjected to a higher premium. Occupation: People with high-risk occupations such as fire-fighters, pilots, professional drivers, people who work on scaffolds can expect to pay a higher premium due to the nature of their work. 17

18 Myth: The co$t of life insurance Premiums are deductible: Usually only the case if you are self employed and the insurance is covering the business operations. Everyone needs life insurance: Life Insurance is not needed for everyone. Consider your current situation and finances. Life insurance Is expensive: Itʼs usually less than car insurance and competitive options can be found if you take the time to research and compare policies. The chances of making an actual claim is unlikely so why get it?: The whole point of life insurance is to be prepared for the unexpected. Itʼs a grim thought but you really donʼt know what day might be your last. Remember: Life insurance is a waste of money... until you need it! Then you wish you had more. The most expensive policy is the best: Not always the case. There are plenty of cheaper options that may be more tailored to your needs. The cheapest policy is the best: Cheaper policies may look great but could leave you underinsured. Compare policies and know exactly what you are getting! 18

19 Chapter 5: Life Insurance Features Additional options you might consider for your policy Joint Policy Feature Terminal Illness Feature Waive of Premium Feature Upgrades &amp Indexation Guaranteed Insurability Financial Planning Benefit 24 Hour Worldwide Cover Funeral Advancement Benefit Premium Holiday Biusiness Safeguard Life insurance through your superannuation With the growth of mandatory employer superannuation in Australia, more and more people are beginning to take out life insurance through their superannuation fund. While purchasing life insurance through your super fund may be very cost-effective, it is essential you know that you are adequately covered. Benefits of life insurance through your superannuation 19 Can be highly cost effective. May not be any need for a medical examination prior to application if your companies super fund has included life insurance automatically (only applicable at start of policy).

20 Can be tax effective as premiums are taken from your super fund which has had tax benefit on that. Self employed workers are allowed tax deductions on their life insurance through their superannuation fund. Disadvantages of life insurance through your superannuation Some funds may not provide enough cover to adequately suit your needs. Claims process may be delayed as the pay out goes to the super fund first and then is distributed among beneficiaries. Unless there is an agreement in place binding a beneficiary to receive the payment, you can not be certain that the payment will be distributed to your desired beneficiaries. Inadequate income protection benefits. Payment period may be too short. Certain clauses can be in place limiting who can receive a payout free of tax. Life insurance companies: Checklist to choose the right one The range of products on offer: With so many life insurance companies on the market, it is essential to find a company offering a competitive range of products with the flexibility to be tailored to your needs. Reputation: Find an industry recognised institution with a large client base and experienced staff. Find reviews discussing the companies policies and the experience of passed clients. Dedicated team: Finding the right policy can be a daunting task for many. Make sure you find a provider with a dedicated team of professionals to answer all your questions from day one. Claims process: Read up on past clients experiences making claims with the company and gain a clear understanding of the providers claim policy. Myth: Life insurance company myths Life insurance companies rarely pay out claims: Life Insurance companies depend on the reputation they gain from passed clients and their claim policy. There is no reason for them to not payout claims if you were honest during your application and a genuine claim is made. If one insurer denies you, they all will: Different insurance providers underwriting team can come to different conclusions in regards to your insurability. Buyer beware: life insurance tips and traps to be aware of Review your policy: Changing circumstances such as moving home, new job or the birth of another child could require you to review your current policy and increase cover. Enough coverage is crucial: It s vital to know that you have the right amount of coverage throughout your policy. Explore your options and if you can t afford the right amount of 20

21 cover in the early days, buy small and get more coverage as your wealth begins to accumulate. Buy when healthy: Live an unhealthy lifestyle and your premiums will be higher. Try and cut out or minimise any activities that could reduce your life expectancy. Small lifestyle changes can have a significant impact on the premium you will pay. Monthly premium payments may cost more in the long run: Investigate if you will save in the long run by making annual payments. Life insurance offered by your employer may not be enough: If you are offered group life insurance from your employer, ensure that the coverage is sufficient to meet your needs. Always tell the truth: Lying during your application can have severe consequences when it comes time to claim. If a large payment is due, each insurance provider will undertake rigorous checks to ensure you were honest during your application. Life Insurance companies have the power to only pay out the amount that should have been paid. The cheaper policy is by no means the right policy: Cheaper policies may appear great upfront but could leave you severely under-insured. Check the inclusions of each policy and any clauses that could impact on the claim. Agreed value for income protection: This monthly benefit will only be guaranteed if your correct earnings are provided and it doesn t exceed 75% of your taxable income. Income protection indemnity polices: May appear cheaper than other policies but will only cover you for 75% of your taxable income. Stepped premiums increase over time: While they may appear inexpensive at the start of the policy they will increase over time and in most cases level premiums are more cost effective. Bundling your policies could help you save: Bundling your policies with one provider could result in a multi-policy discount and a discount of up to 15%. 21

22 Chapter 6: Life Insurance Application: Easy Steps & You re Covered Life insurance applications allow the provider to assess the health, lifestyle and occupation of the applicant and determine the premium to be paid for the policy. In most cases you will need to provide details of your medical history and sign a declaration stating all the information you have provided is correct and true. What happens to the information I provide? It is delivered to and assessed by the providers underwriting team. This remains strictly confidential and is only used to assess your application for life insurance. Life Insurance medical exam Many life insurance companies will provide most people with life insurance without the need for a medical examination based on the information provided on their application. A typical medical examination involves; Basic physical exam. Blood test. EKG. X-Ray. Height and weight measurement. Some disadvantages of no medical life insurance policies Lower Payout Benefit. Sum insured for non-medical examination policies is often lower than it is for those with medical evaluation. Higher Premium. Premiums are often higher for non-medical examination policies. Quick tips to prepare for your Life Insurance medical exam 7 days before exam o Stick to a clean diet eating plenty of wholegrains, fruits vegetables and lean meat. Avoid fatty foods that are high in salt and sugar. 3 days before exam 22

23 o Avoid all alcohol-can lead to elevation of liver enzymes. 1 Day before exam o Avoid all caffeine products, alcohol, pain medication and nasal decongestants, strenuous exercise. Day of exam o Avoid all tobacco products. o If taking a urine test drink at least one cup of water an hour before the exam. o Take a list of all of your doctors and their contact details with you to the exam. What happens after my application is assessed? You will be notified by the life insurance provider as to the outcome of your application. You will be then be delivered a copy of the life insurance product disclosure statement outlining the details of your policy. And if I am rejected? The provider will in most cases offer other terms of insurance for you to achieve approval. This could be; A higher premium to account for the risk. An exclusion of an particular activity or medical condition. Reduction of the level of cover. Additional options to be included at a higher rate. What happens once my assessment is finalised? Your policy has been issued and records are stored away until a claim is made. A copy of your policy should be provided to your dependents. 23

24 Chapter 7: Claiming Life Insurance But if youʼre dead, how do you claim? In the event of your death the nominated beneficiary (Person who receives the insurance payout) or your executor will contact your insurance provider where they will then work through the claims process with representatives from the providers claim department. Claiming life insurance Provide insurance provider with copy of claim policy. If you are unable to find it, the provider will be able to give you a new copy. Confirm that you are the beneficiary of the policy. Contact insurance provider and work through claims procedure with a member of the claims department. If the policy was taken out through an agent, they will be able to help you through the process directly. Provide insurance company with any proof of identification required. This can vary from provider to provider. Fill out any paperwork the provider may require. Keep a copy of all records. Wait for payment. This period can vary from provider to provider. Follow up with provider regularly after claim is lodged to confirm the status of the payment. Claiming other types of insurance: Steps to a successful claim Verify that you are eligible. Policies differ from provider to provider and not all illnesses or injuries may actually be covered. Provide documentation. May require doctors report to prove inability to work. Stick to claim deadline. Ensure claim is lodged within the deadlines made by your provider. Be honest. All insurance providers will verify every detail of the claim rigorously. Cooperate. Avoid any delays by giving full cooperation to the provider. You may be required to provide further documentation or be examined by a medical professional to verify your illness or injury. TIP: Ensure your beneficiaries have a copy of your insurance policy to make this procedure as stressfree as possible. Beyond grief, the logistics of a loved ones death or serious injury or illness can be extremely difficult - ensure the right steps are taken to prepare for a claim. 24

25 Donʼt forget the fine print Conditions for payment vary from policy to policy and the cheapest policy is by no means always the right policy to go with... 25

26 Frequently Asked Questions What is life insurance? Life insurance is paid out to the deceased estate or anyone else they want to pay out to. What does life insurance cover? Covers everything to ensure your family or loved ones will not have to sell the home to survive. What does life insurance not cover? Life insurance will not cover suicide in the first 13 months or non-declared medical conditions. If I have Life Insurance, why would I consider Trauma Cover? Trauma Insurance will provide a pay out for specified illnesses and injuries to help you recover and to assist you while you cannot work. Can I apply for Life Insurance? Most providers will require applicants to be; o Between 18 and 59 with some insurers even offering older. o Australian or NZ citizen or holder of an Australian Permanent Residency Visa. o Living in Australia at the time of application. How much Life Insurance do I need? A good rule of thumb to use is times your annual income plus your mortgage, credit card bills, personal and car loans and funeral expenses. How much does life insurance cost? A number of factors will determine how you are assessed by your life insurance provider and how much you will have to pay. These include: o o o o o o Age Gender Smoking Status Medical History Weight Occupation What is Income Protection? Income protection is monthly benefit paid to a person who has suffered from an injury or illness and is unable to work. It can be up to 75% of their annual income. Applicants can usually choose a waiting period between fourteen days and two years. A shorter waiting period will generally result in higher premiums. If I have Income Protection Insurance, why would I Consider Total and Permanent Disability Insurance? Income Protection will only provide you with 75% of your wage until you are fit to work. Total and permanent disability insurance will provide a lump sum payment if you are disabled and unable to return to work ever again. What is the difference between Income Protection and WorkCover? Income protection provides coverage for accidents that have occurred outside of the workplace. research has shown more claims have been made for income protection policies than for Work Cover. If My Superannuation Provides Me With life Insurance, Why Would I Need to Purchase Additional Cover? Your superannuation may provide you with an inadequate level of cover to give full financial protection to your dependable. 26

Information Guide Booklet. Life Insurance

Information Guide Booklet. Life Insurance Information Guide Booklet Life Insurance This Information Guide booklet provides you with general information only. It will also help you to better understand any recommendations we have made for you.

More information

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid.

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. WHAT IS INSURANCE? It s simply the transference of a risk from yourself to the Insurer. By paying the

More information

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet Fact sheet Personal insurance Current as at 15 April 2012 What is insurance? Insurance is an agreement with an insurance company to pay you a sum of money if something is damaged or lost. It is form of

More information

A simple guide to Life Insurance

A simple guide to Life Insurance A simple guide to Life Insurance Your guide to Life, Income Protection, Trauma, and Total & Permanent Disability Insurance. Lifebroker Pty Ltd ABN 92 083 177 011 Introduction Why do I need personal insurance?...

More information

Understanding Insurance

Understanding Insurance Version 4.0 Preparation Date: 2 November 2009 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. Important

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know contents 1 Even 2 Inside 3 Your 4 tpd, non-income earners need to be insured or Outside super? insurance needs change on an annual basis Income Protection, Life Insurance

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know 2 Insurance facts you should know Contents 1 Even non-income earners need to be insured 2 Inside or Outside super? 3 Your insurance needs change on an annual basis 4 Different

More information

WA Super Insurance Guide

WA Super Insurance Guide MY SUPER APPROVED WA Super Insurance Guide The information in this document forms part of the WA Super Product Disclosure Statement, November 2013 You should read the PDS in conjunction with this Member

More information

BT Protection Plans. Product Disclosure Statement and Policy Document (PDS)

BT Protection Plans. Product Disclosure Statement and Policy Document (PDS) BT Protection Plans Product Disclosure Statement and Policy Document (PDS) Dated 19 May 2014 Who s responsible for BT Protection Plans The Insurer is Westpac Life Insurance Services Limited ABN 31 003

More information

Understanding insurance Version 5.0

Understanding insurance Version 5.0 Understanding insurance Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. This document

More information

Flexible Lifetime Super

Flexible Lifetime Super Issued ₁ July ₂₀₁₅ Flexible Lifetime Super Insurance fact sheet Registered trademark of AMP Life Limited ABN 84 079 300 379. This document is a fact sheet for the product disclosure statement (PDS) dated

More information

Understanding insurance

Understanding insurance Version 4.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to. Important information This document has been published

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know 2 Insurance facts you should know Contents 1 Even non-income earners need to be insured 2 Inside or Outside super? 3 Your insurance needs change on an annual basis 4 Different

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Protecting what matters most Life and health insurance protection underpins most good financial planning. These types of insurance can ensure that

More information

Product Summary. Life s better with the right partner. Life Cover. November 2015. Complimentary Final Family Expenses. Why consider Life Cover?

Product Summary. Life s better with the right partner. Life Cover. November 2015. Complimentary Final Family Expenses. Why consider Life Cover? Product Summary November 2015 Life s better with the right partner This is a summary of the main features and terms of the AIA Australia Priority Protection for Platform Investors product. For full details,

More information

10 IMPORTANT TIPS AND TRAPS WHEN BUYING LIFE INSURANCE

10 IMPORTANT TIPS AND TRAPS WHEN BUYING LIFE INSURANCE 10 IMPORTANT TIPS AND TRAPS WHEN BUYING LIFE INSURANCE Don t buy insurance without first reading this guide 10 Important Tips and Traps when buying Life Insurance CONTENTS 1. Don't let TV advertising drive

More information

are you financially well organised? Risk Plan your family s finanical security www.financiallywellorganised.com info@fwo.net.au

are you financially well organised? Risk Plan your family s finanical security www.financiallywellorganised.com info@fwo.net.au are you financially well organised? Risk Plan your family s finanical security info@fwo.net.au Your family s financial security... If you were to pass away, would your family s financial security be assured?

More information

Understanding Insurance

Understanding Insurance Understanding Insurance Preparation Date: 26 November 2007 How to read this document Managing your finances to meet your day to day requirements as well as your long-term goals can be a complex task. There

More information

Superannuation & Disability Claims Securing your future

Superannuation & Disability Claims Securing your future Superannuation & Disability Claims Securing your future Great people Great results Great value Established 1952 Superannuation & Disability Claims When you are unable to work because of injury or illness,

More information

How much insurance cover?

How much insurance cover? How much insurance cover? We consider life and TPD insurance coverage to be family protection it is about protecting your family. Life Insurance The purpose of life insurance is to provide your dependants

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority Protection for Platform Investors Product Disclosure Statement Version 12, Issued 8 June 2013 aia.com.au Life s better with the right partner Who issues Priority Protection for Platform Investors?

More information

Zurich Wealth Protection

Zurich Wealth Protection Issue Date: 21 December 2015 Zurich Wealth Protection Product Disclosure Statement including policy conditions This PDS, prepared on 25 November 2015, is provided in two parts: Part 1 Policy information

More information

Suncorp Financial Protection Plan. Product Disclosure Statement Prepared on: 1st September 2006. Effective date: 23rd October 2006.

Suncorp Financial Protection Plan. Product Disclosure Statement Prepared on: 1st September 2006. Effective date: 23rd October 2006. Suncorp Financial Protection Plan Product Disclosure Statement Prepared on: 1st September 2006. Effective date: 23rd October 2006. 2 Suncorp Financial Protection Plan Product Disclosure Statement Prepared:

More information

11 Things Every. Trades Person. Needs To Know

11 Things Every. Trades Person. Needs To Know 11 Things Every Trades Person Needs To Know Being in the building trades you need an accountant who understands your business and the intricacies. We appreciate the unique nature of the trades including

More information

Westpac Protection Plans

Westpac Protection Plans Westpac Protection Plans Supplementary Product Disclosure Statement and Policy Addendum (SPDS) Dated 1 July 2014 This SPDS is dated 1 July 2014 and supplements the information contained in the Westpac

More information

Insurance through your super

Insurance through your super Insurance through your super Review my cover Save on insurance through Super $ TPD insurance income protection Death We insure many aspects of our lives: house, car, health, life, even pets. Of all of

More information

Independent consumer guide to life insurance

Independent consumer guide to life insurance Independent consumer guide to life insurance Who we are and what we do The Irish Financial Services Regulatory Authority was established in May 2003 to regulate financial services firms in Ireland. Our

More information

Insurance and estate planning. A Financial Planning Technical Guide

Insurance and estate planning. A Financial Planning Technical Guide Insurance and estate planning A Financial Planning Technical Guide 2 Insurance and estate planning Introduction 4 General insurance 4 Private health insurance 4 Personal insurance 5 Business insurance

More information

For expert advice call 01494 451441

For expert advice call 01494 451441 Protection Planning Life and Protection Insurance The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in

More information

A Financial Planning Technical Guide

A Financial Planning Technical Guide Insurance and Estate Planning A Financial Planning Technical Guide Securitor Financial Group Limited ABN 48 009 189 495 AFSL 240687 Contents Introduction 1 General insurance 1 Private health insurance

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement 30 September 2013 ClearView LifeSolutions is issued by ClearView Life Assurance Limited: ABN 12 000 021 581, AFS Licence No. 227682. ClearView LifeSolutions Super is issued

More information

Professional Insurance Portfolio

Professional Insurance Portfolio Product Disclosure Statement Please read this Product Disclosure Statement carefully. It contains important information about the above product. Version 9 Issued 6 June 2014 Professional Insurance Portfolio

More information

Life insurance and TPD cover. Protect their tomorrows

Life insurance and TPD cover. Protect their tomorrows Life insurance and TPD cover Protect their tomorrows Life cover and Total and Permanent Disablement (TPD) cover provide you with the comfort of knowing that a lump sum will be paid if you were to die,

More information

ENERGY SUPER INSURANCE GUIDE. Prepared and issued 1 July 2015

ENERGY SUPER INSURANCE GUIDE. Prepared and issued 1 July 2015 ENERGY SUPER INSURANCE GUIDE Prepared and issued 1 July 2015 CONTENTS Insurance Overview 1 Death & TPD cover 1 Income Protection cover 10 Other insurance information 18 Definitions 19 ABOUT THIS ENERGY

More information

TOTAL PERMANENT DISABLEMENT

TOTAL PERMANENT DISABLEMENT Life TotalCareMax Total Permanent Disablement TOTAL PERMANENT DISABLEMENT TotalCareMax Life. Take charge. sovereign.co.nz HOW TOTALCAREMAX TOTAL PERMANENT DISABLEMENT COVER CAN HELP YOU Total Permanent

More information

An SMSF guide to life insurance

An SMSF guide to life insurance An SMSF guide to life insurance Information guide for Trustees and members Issue date: June 2014 Call: 02 8205 7857 Email: insurance@sapientfinancial.com.au Contents Page 3. 4. 6. 7. 9. 12. 14. Introduction

More information

dependab e IMAGE AREA

dependab e IMAGE AREA AMP Elevate insurance Product Disclosure Statement Issue Number 14, 19 May 2014 insurance that s dependab e IMAGE AREA because life is unpredictable Life Insurance Life Insurance Superannuation Life Insurance

More information

Insurance delivering peace of mind. Your guide to insurance at Plum

Insurance delivering peace of mind. Your guide to insurance at Plum Insurance delivering peace of mind Your guide to insurance at Plum Contents Why insurance matters 2 Types of cover 4 What s right for me? 7 1 Safeguarding you and your family Life is unpredictable. From

More information

Insurance in Prime Super

Insurance in Prime Super Insurance in Prime Super September 2015 This fact sheet outlines why insurance is important and the benefits of having insurance through your super account. Why is insurance so important? Insurance is

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement For NAB Mortgage Protect Preparation Date: 23 June 2012 Issue No. 1 This Product Disclosure Statement (PDS) is issued by: MLC Limited, ABN 90 000 000 402 AFSL 230694 You ve

More information

Your Insurance Options

Your Insurance Options Your Insurance Options Table of contents Your insurance options 3 Building a protection strategy 4 How much cover should you have? 5 Inside or outside of super? 7 Medicals and questionnaires 8 Why Optimise

More information

Zurich Wealth Protection. Product Disclosure Statement including policy conditions Issue date: 1 March 2014

Zurich Wealth Protection. Product Disclosure Statement including policy conditions Issue date: 1 March 2014 Zurich Wealth Protection Product Disclosure Statement including policy conditions Issue date: 1 March 2014 This PDS, prepared on 6 February 2014, is provided in two parts: Part 1 Policy information Part

More information

BT Protection Plans Supplementary Product Disclosure Statement and Policy Addendum (SPDS)

BT Protection Plans Supplementary Product Disclosure Statement and Policy Addendum (SPDS) BT Protection Plans Supplementary Product Disclosure Statement and Policy Addendum (SPDS) Dated 1 July 2014 This SPDS is dated 1 July 2014 and supplements the information contained in the BT Protection

More information

Superannuation And Insurance For. People With Blood Cancer (SOUTH AUSTRALIAN EDITION)

Superannuation And Insurance For. People With Blood Cancer (SOUTH AUSTRALIAN EDITION) Superannuation And Insurance For People With Blood Cancer (SOUTH AUSTRALIAN EDITION) Prepared by John Berrill John Berrill Maurice Blackburn Lawyers Level 10, 456 Lonsdale Street, Melbourne Phone: 1800

More information

Suncorp Life Protect Product Disclosure Statement

Suncorp Life Protect Product Disclosure Statement Suncorp Life Protect Product Disclosure Statement Prepared on: 20 February 2015 Effective date: 30 March 2015 Important Information This is the Product Disclosure Statement (PDS) for Suncorp Life Protect.

More information

LIFE INSURANCE. Product Disclosure Statement

LIFE INSURANCE. Product Disclosure Statement LIFE INSURANCE Product Disclosure Statement This product and Product Disclosure Statement are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530 AFSL 229880 under the brand, AAMI. Contents

More information

Though not a pleasant thought it's important to think about this: when you die, who will you leave behind?

Though not a pleasant thought it's important to think about this: when you die, who will you leave behind? Personal insurance There are many risks you face during your lifetime, but the most serious ones you will face are death, disability, serious illness and/ or medical intervention (surgery). These can happen

More information

BT Lifetime Super Employer Plan

BT Lifetime Super Employer Plan BT Lifetime Super Employer Plan Additional Information Booklet Part 3 Insurance Dated: 1 July 2015 Last updated: 1 July 2015 About this Additional Information Booklet This document is Part 3 of the Additional

More information

Personal Insurance. Do I need Trauma cover? a safety. to help get you back on track

Personal Insurance. Do I need Trauma cover? a safety. to help get you back on track Personal Insurance Do I need Trauma cover? a safety to help get you back on track Being able to focus on your recovery after suffering a traumatic event is going to be your primary concern. Having trauma

More information

Death and Total and Permanent Disablement (TPD) Cover Fact Sheet

Death and Total and Permanent Disablement (TPD) Cover Fact Sheet Death and Total and Permanent Disablement (TPD) Cover Fact Sheet Who should read this fact sheet? The information in this fact sheet applies to most Defined Contribution (accumulation) members of Energy

More information

Insurance and your PSSap super

Insurance and your PSSap super Insurance and your PSSap super Issued 1 July 2013 The information in this document forms part of the Product Disclosure Statement for the Public Sector Superannuation accumulation plan (PSSap), sixth edition,

More information

TOWER PROTECTION POLICY

TOWER PROTECTION POLICY LIFE INSURANCE TOWER PROTECTION POLICY Product Disclosure Statement November 2008 Runner Up Risk Company of the Year 2008 RUNNER UP 2008 Risk Company of the Year Winner WINNER Risk Company of the Year

More information

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Simply Smarter Life Insurance Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Budget Direct Life Insurance and Budget Direct Accidental Death Insurance

More information

BT Business Super. Additional Information Booklet Part 3 Insurance. Dated: 1 July 2015 Last updated: 1 July 2015

BT Business Super. Additional Information Booklet Part 3 Insurance. Dated: 1 July 2015 Last updated: 1 July 2015 BT Business Super Additional Information Booklet Part 3 Insurance Dated: 1 July 2015 Last updated: 1 July 2015 About this Additional Information Booklet This document is Part 3 of the Additional Information

More information

Goldman Sachs & JBWere Superannuation Fund. Life is a journey, full of important events, stages and milestones each with its own financial obligation.

Goldman Sachs & JBWere Superannuation Fund. Life is a journey, full of important events, stages and milestones each with its own financial obligation. Goldman Sachs & JBWere Superannuation Fund 2015 INSURANCE PULSE CHECK SOLD Life changes. Your insurance needs to as well. Life is a journey, full of important events, stages and milestones each with its

More information

protect The Alberta Teachers Association Group Life + Optional Family Life Insurance Your family depends on you. Help

protect The Alberta Teachers Association Group Life + Optional Family Life Insurance Your family depends on you. Help The Alberta Teachers Association Group Life Optional Family Life Insurance protect Your family depends on you. Help their financial future with additional life insurance. Why do I need additional life

More information

CommInsure Protection

CommInsure Protection CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy Issue date: 11 May 2014 Product Disclosure Statement This Product Disclosure Statement (PDS) is issued by the insurer, The Colonial

More information

The 4 Levels of Life Insurance Explained

The 4 Levels of Life Insurance Explained C JAMES MERCHAN BBUS (Banking & Finance), Ad.Dip Fin Planning [m] 0433 480 870 [w] 5976 3704 [e] jmerchan@mccombe.com.au THE IMPORTANCE OF LIFE INSURANCE Life Insurance is an integral component of wealth

More information

Sunsuper for life. Insurance guide. Learn more about your insurance Identify your insurance needs

Sunsuper for life. Insurance guide. Learn more about your insurance Identify your insurance needs Sunsuper for life Insurance guide Learn more about your insurance Identify your insurance needs Preparation date: 9 June 2015 Issue date: 1 July 2015 INSURANCE IN YOUR SUPER Contents 1 Why have insurance?

More information

POLICY NO. MP9958, MP9959, MP9961 - ENDORSEMENT 01

POLICY NO. MP9958, MP9959, MP9961 - ENDORSEMENT 01 AIA Australia Limited (ABN 79 004 837 861 AFSL 230043) PO Box 6111 St Kilda Road Central VIC 8008 Phone : 1800 333 613 Fax : 1800 832 266 AIA.COM.AU POLICY NO. MP9958, MP9959, MP9961 - ENDORSEMENT 01 This

More information

Trendsetter. LB Series. Product Overview

Trendsetter. LB Series. Product Overview Trendsetter LB Series Product Overview Trendsetter LB Series Life happens. Are you prepared? Sometimes we are surprised by what happens in life. One of the most important assets we have is our health

More information

Product Disclosure Statement. Life Insurance. Issue no. 1 Term Life Recovery Stand Alone Recovery Income Protector Income Advantage Business Expenses

Product Disclosure Statement. Life Insurance. Issue no. 1 Term Life Recovery Stand Alone Recovery Income Protector Income Advantage Business Expenses Product Disclosure Statement Life Insurance Issue no. 1 Term Life Recovery Stand Alone Recovery Income Protector Income Advantage Business Expenses Issued 1 March 2004 Contents 1 About Asteron 2 About

More information

Wealth protection for Australian Small and Medium Business Owners

Wealth protection for Australian Small and Medium Business Owners Wealth protection for Australian Small and Medium Business Owners Unexpected issues In business life, as in daily life, unexpected issues can and do occur. Business owners can be temporarily or permanently

More information

Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review

Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review If a serious illness strikes, how will you protect your assets and lifestyle from financial hardship? Table of Contents Page Your

More information

Your death and disability benefits (Personal Members)

Your death and disability benefits (Personal Members) Rio Tinto Staff Superannuation Fund Guide 7 Your death and disability benefits (Personal Members) The information in this document forms part of the following Product Disclosure Statements for the Rio

More information

Financial protection for what matters most

Financial protection for what matters most OAK HARBOR FREIGHT LINES INCORPORATED PO BOX 1469 AUBURN, WA 98071 Don t miss your chance to sign up for this valuable coverage. Enroll by November 30, 2015. Financial protection for what matters most

More information

A Guide To Life Insurance and Protection

A Guide To Life Insurance and Protection A Guide To Life Insurance and Protection Independent Financial Advisers Independent Mortgage Advisers P N DALES LTD, are an Independent Financial Advisers, experts in protection & life insurance. We help

More information

MLC Insurance Enjoy life

MLC Insurance Enjoy life MLC Insurance Enjoy life Enjoy life! Enjoying life is all about living today. But it s not always easy if you are worried about tomorrow. So rather than worrying about what may or may not happen, insure

More information

Protect your family. ClearView LifeSolutions. Life Cover, Trauma Cover and other tailored insurances

Protect your family. ClearView LifeSolutions. Life Cover, Trauma Cover and other tailored insurances Protect your family ClearView LifeSolutions Life Cover, Trauma Cover and other tailored insurances Insurances to meet your needs Defence Health has partnered with ClearView to provide an extensive range

More information

Protecting your lifestyle and your wealth

Protecting your lifestyle and your wealth Protecting your lifestyle and your wealth Life assurance Critical illness cover Income protection Key person and partnership protection Over 30 years experience providing independent pension advice to

More information

Insurance. Product Disclosure Statement. Life Insurance Superannuation Plan & Income Insurance Superannuation is closed. Document not up to date.

Insurance. Product Disclosure Statement. Life Insurance Superannuation Plan & Income Insurance Superannuation is closed. Document not up to date. Insurance Product Disclosure Statement Life Insurance Plan Trauma Insurance Plus Plan Trauma Insurance Plan Total and Permanent Disability Insurance Plan Activities of Daily Living Total and Permanent

More information

Personal Insurance. Do I need Life cover and TPD cover? pr tect. their tomorrows

Personal Insurance. Do I need Life cover and TPD cover? pr tect. their tomorrows Personal Insurance Do I need Life cover and TPD cover? pr tect their tomorrows Life cover and Total and Permanent Disablement (TPD) cover provide you with the comfort of knowing that a lumpsum will be

More information

dependab e because life is unpredictable.

dependab e because life is unpredictable. AMP Elevate insurance Product Disclosure Statement Insurance that s dependab e because life is unpredictable. Issue Number 12, 21 May 2012 Life Insurance Life Insurance Superannuation Total and Permanent

More information

The level of Death and TPD insurance members receive when they join Triple S is as follows:

The level of Death and TPD insurance members receive when they join Triple S is as follows: > 1 Triple S Death and Total and Permanent Disablement (TPD) insurance provides cover to help ease the financial burden in case of your illness, injury or death. The level of Death and TPD insurance members

More information

Simplifying Statements of Advice. Life Risk example SOA. 9 December 2008

Simplifying Statements of Advice. Life Risk example SOA. 9 December 2008 Simplifying Statements of Advice Life Risk example SOA 9 December 2008 Life Risk Statement of Advice for Frank and Nancy Stoop, Development of the Life Risk example SOA Financial planners, politicians,

More information

MLC Personal Protection Portfolio MLC Life Cover Super

MLC Personal Protection Portfolio MLC Life Cover Super MLC Personal Protection Portfolio MLC Life Cover Super Product disclosure statement This Product Disclosure Statement was prepared by: MLC Limited ABN 90 000 000 402 AFSL 230694 Issuer of MLC Personal

More information

IFF Steering Group. Insurance Data Standards & Educational Tools and Support. Insurance protocols relating to standard list of terms and conditions

IFF Steering Group. Insurance Data Standards & Educational Tools and Support. Insurance protocols relating to standard list of terms and conditions IFF Steering Group Workstreams: Insurance Data Standards & Educational Tools and Support Insurance protocols relating to standard list of terms and conditions Purpose: The purpose of this paper is to outline

More information

Trendsetter LB (Living Benefits)

Trendsetter LB (Living Benefits) Trendsetter LB (Living Benefits) Frequently Asked Questions TABLE OF CONTENTS Why do I need Living Benefits?...1 What are Living Benefits on a Life Insurance Policy and Accelerated Death Benefits?... How

More information

We give you invaluable peace of mind at an affordable price. The Power of We. Essential protection for you and your loved ones AIA.COM.

We give you invaluable peace of mind at an affordable price. The Power of We. Essential protection for you and your loved ones AIA.COM. PROTECTION AIA SECURE TERM We give you invaluable peace of mind at an affordable price Essential protection for you and your loved ones The Power of We AIA.COM.SG 2 Only 38% of Singaporeans could cope

More information

LIFE INSURANCE PREPARING FOR THE FUTURE

LIFE INSURANCE PREPARING FOR THE FUTURE LIFE INSURANCE PREPARING FOR THE FUTURE Bupa life insurance is issued by ClearView Life Assurance Limited (ABN 12 000 021 581) (AFS Licence No. 227682) ( ClearView ). Bupa Australia Pty Limited (ABN 81

More information

Funeral Protection. Product Disclosure Statement and Policy Document. The Power of We. Version 1. Issued 15 August 2011 AIA.COM.AU

Funeral Protection. Product Disclosure Statement and Policy Document. The Power of We. Version 1. Issued 15 August 2011 AIA.COM.AU 1 Funeral Protection Product Disclosure Statement and Policy Document Version 1 Issued 15 August 2011 The Power of We AIA.COM.AU About this booklet We suggest that you keep this booklet in a safe place.

More information

Superannuation And Insurance For. People With Huntington s Disease (WESTERN AUSTRALIAN EDITION)

Superannuation And Insurance For. People With Huntington s Disease (WESTERN AUSTRALIAN EDITION) Superannuation And Insurance For People With Huntington s Disease (WESTERN AUSTRALIAN EDITION) Prepared by Phil Gleeson Phil Gleeson Maurice Blackburn Lawyers Unit 1, 328 Carrington Street, Hamilton Hill

More information

Insurance Guide. Super. 1 October 2015

Insurance Guide. Super. 1 October 2015 Super Insurance Guide 1 October 2015 The information in this document forms part of the Product Disclosure Statement (PDS) for the Mine Wealth and Wellbeing Superannuation Fund. You should read the PDS

More information

My plan. Their future. Heading goes. here. Powered by Citi. Powered by Citi. Pure Life. Product Disclosure Statement Issued 025 March?

My plan. Their future. Heading goes. here. Powered by Citi. Powered by Citi. Pure Life. Product Disclosure Statement Issued 025 March? Pure Life My plan. Heading goes Their future. here. Powered by Citi. Powered by Citi. Product Disclosure Statement Issued 025 March? April 2011 Issuer: Distributor: MetLife Insurance Limited Citigroup

More information

LIFE, DISABILITY AND INCOME PROTECTION

LIFE, DISABILITY AND INCOME PROTECTION This document forms part of the NGS Super Member Guide (Product Disclosure Statement) dated 14 August 2015 LIFE, DISABILITY AND INCOME PROTECTION * FACT SHEET 6 14 AUGUST 2015 It s vital that you re prepared

More information

Energy Super Insurance Guide. Prepared and issued 30 April 2013

Energy Super Insurance Guide. Prepared and issued 30 April 2013 Energy Super Insurance Guide Prepared and issued 30 April 2013 Contents Insurance Overview 1 Death & Total and Permanent Disablement cover 1 Income Protection cover 9 Other insurance information 15 Definitions

More information

Superannuation And Insurance For. People With Cancer (NEW SOUTH WALES EDITION)

Superannuation And Insurance For. People With Cancer (NEW SOUTH WALES EDITION) Superannuation And Insurance For People With Cancer (NEW SOUTH WALES EDITION) Prepared by John Berrill John Berrill Maurice Blackburn Lawyers Level 20, 201 Elizabeth Street, Sydney Phone: 1800 810 812

More information

The Beginner s Guide to Income Protection

The Beginner s Guide to Income Protection The Beginner s Guide to Income Protection Are you thinking of protecting your income? Your Income Protection questions will be answered here! We have prepared a comprehensive guide for you with all the

More information

Protecting you and your family. Insurance guide. www.csf.com.au. Effective 1 April 2014

Protecting you and your family. Insurance guide. www.csf.com.au. Effective 1 April 2014 Protecting you and your family Insurance guide Effective 1 April 2014 www.csf.com.au Issued by CSF Pty Limited ABN 30 006 169 286, AFSL 246664, Trustee of the Catholic Superannuation Fund ABN 50 237 896

More information

Protecting your family with insurance: How RBC Royal Bank can help

Protecting your family with insurance: How RBC Royal Bank can help Insurance Protecting your family with insurance: How RBC Royal Bank can help At RBC Royal Bank, we know that you ve worked hard to get here and build a new life. Insurance helps protect what you have from

More information

Zurich Life Risk Zurich Income Replacement

Zurich Life Risk Zurich Income Replacement Product Summary Issued 1 March 2015 Zurich Life Risk Zurich Income Replacement Adviser use only Summary These tables outline the in-built benefits, optional extras and product parameters for Zurich Income

More information

Personal Choice Private Insurance Service

Personal Choice Private Insurance Service Personal Choice Private Insurance Service Product Disclosure Statement I Issue date: 28 March 2011 Life Protection Total & Permanent Disablement (TPD) Salary Continuance Please read this Product Disclosure

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

Product Disclosure Statement Version 11, Issued 21 May 2012. Life s better with the right partner AIA.COM.AU. Priority Protection

Product Disclosure Statement Version 11, Issued 21 May 2012. Life s better with the right partner AIA.COM.AU. Priority Protection Priority Protection Product Disclosure Statement Version 11, Issued 21 May 2012 Life s better with the right partner AIA.COM.AU Who issues Priority Protection? This Product Disclosure Statement ( PDS )

More information

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance...

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance... Contents What is insurance?... 3 What types of insurance are there?... 4 Life insurance... 5 Total and Permanent Disability insurance... 6 Trauma insurance... 7 Income Protection insurance... 8 Insurance

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority for Platform Investors Product Disclosure Statement Version 1.1, Date Prepared 22 August 2014 Life s better with the right partner Important Notes This Product Disclosure Statement ( PDS ) describes

More information

LIFE COVER ARE YOU TAKING THE LEAD IN YOUR LIFE? WHAT IS LIFE COVER? WHAT DOES IT OFFER ME?

LIFE COVER ARE YOU TAKING THE LEAD IN YOUR LIFE? WHAT IS LIFE COVER? WHAT DOES IT OFFER ME? LIFE COVER ARE YOU TAKING THE LEAD IN YOUR LIFE? We may like to think it will never happen to us but the reality is that some of us will die, prematurely, leaving family and loved ones behind. So, have

More information

Suncorp Financial Protection Plan Product Disclosure Statement

Suncorp Financial Protection Plan Product Disclosure Statement Suncorp Financial Protection Plan Product Disclosure Statement Suncorp Financial Protection Plan Product Disclosure Statement Prepared on: 29 September 2003 Issuer: Suncorp Life & Superannuation Ltd (

More information