BT Lifetime Super Employer Plan

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1 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 Information Booklet for BT Lifetime Super Employer Plan ( BT Super ). The information in this document forms part of the Product Disclosure Statement ( PDS ) for BT Super dated 1 July BT Lifetime Super Employer Plan forms part of the Retirement Wrap ( the Fund ) ABN and is issued by BT Funds Management Limited ABN , AFSL ( BTFM, Trustee, we, our or us ), the trustee of Retirement Wrap. The Additional Information Booklet is in three parts: Part 1 General Part 2 Investment Part 3 Insurance This Additional Information Booklet Part 3 Insurance ( this Booklet ) will be updated from time to time without notice. You should read the latest edition of this document, together with the PDS, before making a decision to invest in BT Super. Please contact us to ensure you have the current edition.

2 The information in this Booklet is general information only and does not take into account your personal financial situation or needs. You should consult a financial adviser to obtain financial advice tailored to your personal circumstances. The PDS and this Booklet can only be used by persons receiving it (electronically or otherwise) in Australia and applications from outside Australia will not be accepted. The Trustee may accept or reject an application without giving reasons. An investment in BT Super is not an investment in, deposit with, or any other liability of, Westpac Banking Corporation ABN ( Westpac ), or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment, or loss of Income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of any Investment Options or any related assets of BT Super. Information in the PDS or this Booklet is subject to change from time to time and may be updated by us. Updated information, if it is not materially adverse, can be obtained by going to our website at bt.com.au, contacting the financial adviser for your BT Super account ( your Financial Adviser ) or by calling BT Customer Relations. You can request a paper copy of the PDS, this Booklet or any updated information at any time and this will be provided free of charge. Contact us If you have any questions about your super, please call BT Customer Relations on from 8.00am to 6.30pm (Sydney time), Monday to Friday or

3 Insurance in your super The importance of adequate insurance cover Insurance aims to protect your most valuable assets you and your family. Insurance is an important part of anyone s financial plan, as the risk of injury and illness doesn t go away with economic changes. and disability cover can be a valuable safety net for you and your family if something happens which prevents you from working, or if you pass away. Insurance through BT Super has several benefits, including: access to automatic insurance cover you may be eligible for automatic insurance cover up to certain levels without the need to provide a Personal Statement or medical evidence and other underwriting evidence and particulars. Such evidence is normally required by insurers to assess the risk of providing cover; tax-free death benefits any lump-sum death benefits paid from super to a deceased member s tax dependants are tax free; and group premium rates the cost of insurance through your super is generally more competitive than if you obtained insurance individually. About AIA Australia Limited the Insurer In order to offer you competitive insurance rates and terms and conditions, we provide insurance through group policies with an external insurer. The cover under these policies ( the Master Policies ) is provided by AIA Australia Limited ABN , AFSL ( the Insurer ). The Insurer is located at 553 St. Kilda Road, Melbourne, Australia, Phone: The Master Policies govern the terms and conditions of the insurance offered through BT Super. A copy of each Master Policy is available on request. The Insurer may, with our agreement, vary the terms and conditions of a Master Policy. If there is any inconsistency between the information in the Product Disclosure Statement, this Booklet and the Master Policies, the terms and conditions of the Master Policies will prevail. What insurance is available through my BT Super account? As part of your BT Super account, you may be eligible to receive either: 1. Standard Cover or 2. Tailored Cover. Standard Cover Standard Cover is the default age-based Only or & Total and Permanent Disablement ( TPD ) cover that will apply to eligible members whose Employer has not selected any other insurance benefit design. Only cover may be provided if you re not eligible for & TPD cover as a result of your occupation or age. Standard Cover is designed to provide a low cost, simple level of cover that increases or decreases depending upon your age. Standard Cover provides up to $300,000 of cover automatically, without the need for medical checks (please refer to the relevant Standard & TPD cover table for your gender in this Booklet to see the age-based amount of cover per unit). You may also apply for cover above this limit. Tailored Cover Tailored Cover provides Only, & TPD, and Salary Continuance ( SCI ) insurance cover based on a benefit design selected by your Employer, subject to the eligibility criteria, without the need for medical checks ( Automatic Acceptance Cover ), up to specified limits called Automatic Acceptance Limits. You may also apply for additional cover. The types of insurance available are as follows: Only cover If you die, a lump sum benefit will be paid to your beneficiaries or your estate. If you suffer a Terminal Illness, a lump sum Terminal Illness benefit will be paid to you. To understand the circumstances in which a Terminal Illness benefit will be paid, refer to the definition of Terminal Illness set out in the Glossary section in this Booklet. bt.com.au 3

4 Insurance in your super (Continued) TPD cover TPD cover is only available as an additional benefit to cover at an additional cost, and cannot be held on its own. TPD cover pays a lump sum if you suffer Total and Permanent Disablement. Generally, the TPD cover cannot exceed the cover, other than for Standard Cover, and is only payable once. To understand the circumstances in which a TPD benefit will be paid, refer to the TPD definition contained in the Glossary section in this Booklet. Salary Continuance Insurance ( SCI ) SCI provides for a proportion of your income to be replaced if you suffer Total Disability or Partial Disability. Please refer to the Glossary section in this Booklet for the definitions of Total Disability and Partial Disability. How do I know what level and type of cover I have? Details of your insurance (if any) will be shown in your Super Starter Pack, on documents sent to you confirming any changes to your insurance, and on your Annual Super Statement. You can also view your insurance details on our secure website at bt.com.au. Your insurance provides worldwide cover, 24 hours a day, subject to any terms and conditions of the relevant Master Policy, however, the Insurer may require you to return to Australia at your own expense for assessment in the event of a claim. If you have Standard Cover or Tailored Cover, and are not an Australian Resident, you are covered while you hold a Visa and permanently reside in Australia. If you travel outside of Australia you will be covered for up to three months. For further information, please refer to the Non-Australian Residents section in this Booklet. How can I increase my insurance cover? If you have Standard Cover, you may be eligible to apply to increase your cover in multiples of whole units by completing an Insurance Application form. Within 60 days of receiving your Super Starter Pack you may be able to apply for up to an additional two units of cover with limited underwriting (subject to meeting the relevant conditions). For further information, please refer to the Standard Cover Opt-up section in this Booklet. Alternatively, you can apply to replace your Standard Cover with a fixed amount of Tailored Cover. If you have Tailored Cover you can apply for increased or additional types of insurance cover by completing an Insurance Application form, available at bt.com.au. Life Stage Insurance for members with Tailored Cover 1 With our Life Stage Insurance option, you can easily apply for increases in the amount of your Only or & TPD cover on the occurrence of certain personal events or business events before age 65 without having to provide any additional evidence of health or insurability. Please see the Life Stage Insurance for members with Tailored Cover section in this Booklet for further information and for the applicable conditions. Insurance consolidation You can also easily apply to consolidate Only, & TPD and/or SCI cover held within another super fund or held outside of super into your BT Super account. Simply access the Individual Insurance Consolidation Application form available on our website at bt.com.au and follow the instructions. The maximum amount insured that can be consolidated with your current cover (if any) within BT Super is: ` ` ` ` $2 million for Only, or & TPD cover, and; $20,000 per month for SCI cover. The transfer of your insurance is subject to certain conditions and approval by the Insurer and will cause any Standard Cover or Tailored Cover to become a fixed amount (any such Standard Cover will be transferred to Tailored Cover). If your cover in Standard Cover is lower than your TPD cover, the Insurer may allow you to increase your cover to the same level as your TPD cover and all cover will become a fixed amount in Tailored Cover. Note: the total amount of Only, & TPD or SCI cover you hold within BT Super after consolidation must not exceed the maximums for the relevant cover set out in the table under Who qualifies for insurance cover? section in this Booklet. 1_ The Life Stage option is not available for members insured under Standard Cover

5 Is my spouse eligible for insurance? If your spouse is also a member of BT Super, they can apply for Only or & TPD cover, and/or SCI cover, under Tailored Cover, at the rates disclosed under How to estimate the cost of your insurance adjusted for any employer-related discounts or loadings applicable to the Employer plan. All cover is subject to the assessment of medical and other evidence and acceptance of the cover by the Insurer. Standard Cover and Automatic Acceptance Cover are not available for Spouse Members. If you apply directly as a personal member Tailored cover If you apply to join BT Super directly as a Personal Member, you can apply for Only or & TPD and/or SCI cover under Tailored Cover, at the rates disclosed under How to estimate the cost of your insurance in this section. Standard Cover and Automatic Acceptance Cover are not available for Direct Personal Members. All cover is subject to the assessment of medical evidence and acceptance of the cover by the Insurer. Important information about your insurance options The type and amount of cover you can apply for may be dependent on medical assessment and acceptance by the Insurer, and disclosure by you to us of relevant circumstances (such as whether you have left active employment). It s important that you assess and review the information in this Booklet to understand the terms, conditions and exclusions applicable to you. Please refer to the information below in this Booklet for further information about any terms, conditions and exclusions applicable to you, including details of your duties of disclosure. Who qualifies for insurance cover?* Eligibility cover TPD cover Salary Continuance Insurance Permanent Permanent employees Permanent employees employees Casual employees and Contractors Casual employees and Contractors Sole traders and business partners Sole traders and business partners Spouse Members (for Tailored Cover only) Personal Members (Standard Cover is not available to Direct Personal Members) Who are: For new Standard Cover aged 14 to 69, or For new Tailored Cover aged 14 to 69, or For renewal of cover aged less than 75 Spouse Members (for Tailored Cover only) Personal Members (Standard Cover is not available to Direct Personal Members) Who are: For new Standard Cover aged 14 to 66, or For new Tailored Cover aged 14 to 66, or For renewal of cover aged less than 70 Casual employees and Contractors (for two-year benefit period only see below) Sole traders and business partners Spouse Members Personal Members Who are: For new or additional cover aged 14 to 64 and Gainfully Employed for 15 hours or more per week (Casual employees and Contractors Gainfully Employed for 15 hours or more per week are eligible for a two-year Maximum Benefit only), or For renewal of cover aged less than 65 bt.com.au 5

6 Insurance in your super (Continued) Maximum Cover (subject to approval by the Insurer) cover TPD cover Salary Continuance Insurance No predetermined limit (the limit is approved by the Insurer) Tailored Cover For renewals of existing cover: (a) for Members other than non-working Spouse Members and non-working Direct Personal Members, the lesser of $5 million and the amount of cover; or (b) for non-working Spouse Members and non-working Direct Personal Members, the lesser of $1.5 million and the amount of cover. The Monthly Benefit is the lesser of the following amounts: the amount insured, and 75% of your Pre-Disability Income plus up to 15% of that Pre-Disability Income if the Superannuation Contributions Benefit is selected, and ` ` $30,000 For applications for new cover or an increase in cover: (a) for Members aged less than 60 (other than non-working Spouse Members and non-working Direct Personal Members), the lesser of $5 million and the amount of cover; or (b) for Members aged 60 to 64 (other than non-working Spouse Members and non-working Direct Personal Members), the lesser of $3 million and the amount of cover; or (c) for Members aged 65 or over, and all non-working Spouse Members and non-working Direct Personal Members, the lesser of $1.5 million and the amount of cover. Standard Cover For renewals of existing cover in respect of a Member: $5 million For applications for new cover or an increase in cover: (a) for Members aged less than 60: $5 million (b) for Members aged 60 to 64: $3 million (c) for Members aged 65 or over: $1.5 million. * Plans with employees in Special Risk Occupations (refer to the Special Risk Occupations and Occupation Classifications sections in this Booklet) are subject to individual consideration by the Insurer and special terms may apply. The full Occupation Guide can be accessed at bt.com.au/employerplan. Cover is only available to Australian Residents and valid Australian visa holders (see the How do I know what level and type of cover I have? and the Non-Australian Residents sections in this Booklet for more information). When does your cover commence? If you re a new employee member and eligible for Standard Cover or Automatic Acceptance Cover, your cover will commence from the later of the date: You commence employment with your Employer participating in BT Super, provided your Employer advises us of your full details within 120 days of you first becoming employed by them; Your Employer establishes a plan in BT Super, provided your Employer advises us of your full details on the same date they establish their plan; or You join BT Super if you join BT Super more than 120 days after commencing employment with an Employer participating in BT Super or you join after the date your Employer establishes a plan in BT Super, provided we receive your full details. If you are not eligible for Standard Cover or Automatic Acceptance Cover, your cover will generally commence on the date the Insurer accepts your application. This may apply, for example, if you are required to apply for cover, to increase your cover or to consolidate other insurance cover, if your Employer has nominated cover in excess of the Automatic

7 Acceptance Limits or Forward Underwriting Limit (in respect of the excess amount only), or you are a member of an Employer plan that is not an Employer Default Plan. The commencement of your cover is subject to the receipt and assessment of requested medical evidence and other particulars by the Insurer, and you accepting any special terms determined by the Insurer. Automatic cover Insurers normally require medical and other evidence to assess the risk of insuring each individual. However, if your Employer decides to nominate an approved cover design for a group of employees, Automatic Acceptance Cover (as part of Tailored Cover), up to the Automatic Acceptance Limits, may be available without the need for you to supply evidence of health or other information. If your Employer has selected Standard Cover, one unit of cover will be provided automatically, without the need for medical or other evidence to be provided; subject to you meeting the eligibility rules. You should not assume you re covered automatically and should refer to your Super Starter Pack, which contains details about whether you have been accepted under Automatic Acceptance Cover or Standard Cover provisions. The Insurer reserves the right to vary any Automatic Acceptance Limits. The Insurer also reserves the right to apply Automatic Acceptance Limits and conditions which are different from those disclosed in the Employer Brochure. Note: If you have previously received, or are eligible to receive a Terminal Illness or TPD benefit under BT Super or any other superannuation fund or insurance policy of any kind, you may still be eligible for Automatic Acceptance Cover or Standard Cover subject to you meeting the relevant eligibility criteria, however, the New Events Cover restriction will apply to such automatic Only or & TPD cover for the life of your membership of BT Super. You cannot hold both Standard Cover and Automatic Acceptance Only or & TPD Tailored Cover in respect of the same period of employment with the same Employer. Standard Cover and Automatic Acceptance Cover are not available to Spouse Members and Direct Personal Members, nor to Members who have transferred to a personal membership in relation to additional cover. Special Risk Occupations Employer plans with employees in Special Risk Occupations are subject to individual consideration by the Insurer and special terms may apply. Please refer to the Special Risk Occupation definition in the Glossary section in this Booklet. If you are an employee in a Special Risk Occupation and are accepted for TPD cover, you will be assessed for a TPD claim against parts (A), (C) or (D) of the TPD definition. Please refer to the TPD definition in the Glossary section in this Booklet. If you are an employee in a Special Risk Occupation and are accepted for SCI cover, you will be assessed for Total Disability claims against Part B of the Total Disability definition. Please refer to the Total Disability definition in the Glossary section in this Booklet. Employer plan with five or more members If: you join BT Super within 120 days of commencing employment with your Employer, or on the date your Employer establishes their Employer plan, and you re in an Employer plan with five or more Members, but you re not At Work on the day your Standard Cover or Automatic Acceptance Cover commences (as outlined above), New Events Cover will apply until such time as you have been At Work for 30 consecutive days, from which time you ll receive full cover (i.e. the New Events Cover restriction will no longer apply). If: you join BT Super more than 120 days after commencing employment with your Employer, or after the date your Employer establishes their Employer plan, and you re in an Employer plan with five or more Members, New Events Cover will apply for 12 months from the date your Standard Cover or Automatic Acceptance Cover commences (as outlined above). At the end of the 12 month period, full cover is provided subject to you being At Work for 30 consecutive days after the end of the 12 month period. Otherwise, New Events Cover will continue to apply until such time as you are At Work for 30 consecutive days. You may apply for the New Events Cover restriction to be removed at any time, subject to underwriting and acceptance by the Insurer. bt.com.au 7

8 Insurance in your super (Continued) Employer plan with two to four Members (applies to Only cover and & TPD cover only) For Only cover and & TPD cover only, if you re in an Employer plan with between two and four members, New Events Cover will apply for the first 12 months from the date your Standard Cover or Automatic Acceptance Cover commences (as outlined previously), after which time you ll receive full cover provided you re At Work for 30 consecutive days after the end of the 12 month period. Otherwise, New Events Cover will continue to apply until such time as you are At Work for 30 consecutive days. You may apply for the New Events Cover restriction to be removed at any time, subject to underwriting and acceptance by the Insurer. Do you need to provide medical evidence? If your insurance is provided under Standard Cover arrangements, it s provided automatically if you meet the eligibility requirements. You ll need to provide medical evidence if: you don t meet the eligibility requirements, or you wish to apply for additional units of Standard Cover. Generally, you will not be eligible for Standard Cover and will need to provide medical evidence if: you are a member of a plan which is not an Employer Default Plan, the cover is optional other than under the Standard Cover opt-up feature (see page 10), you have Tailored Cover in relation to the same period of employment with the same Employer, your Employer s plan in BT Super has fewer than two members, or for cover you are aged 70 or over and for TPD cover you re aged 67 or over on the date you commence employment with your Employer or on the date you join BT Super. If your Employer s plan has Automatic Acceptance Cover (for Tailored Cover), you may be eligible for Automatic Acceptance Cover up to certain limits without the need to provide any evidence of health. Generally, you will not be eligible for Automatic Acceptance Cover and will need to provide medical evidence if: you are a member of a plan which is not an Employer Default Plan, the cover is optional, where your Employer s plan in BT Super was established before 1 July 2015 your Employer s plan has fewer than two members for & TPD cover, or less than five members for SCI cover, where your Employer s plan in BT Super was established on or after 1 July 2015 your Employer s plan has fewer than 20 members for & TPD cover, or less than 10 members for SCI cover, you request cover in excess of the amount of Tailored Cover the Employer has specified, in respect of the excess amount only, the amount of Tailored Cover nominated by your Employer for their plan is in excess of the Automatic Acceptance Limit for the plan, in respect of the excess amount only (you re normally automatically covered up to the limit), the Tailored Cover design selected by your Employer is not approved for Automatic Acceptance Cover, for Tailored Only and & TPD cover, you have Standard Cover in relation to the same period of employment with the same Employer, for cover you are aged 70 or over on the date you commence employment with your Employer or on the date your Employer joined BT Super, for TPD cover (only available as an addition to cover), you re aged 67 or over on the date you commence employment with your Employer or on the date your Employer joined BT Super, for SCI cover, you re aged 65 or over on the date you commence employment with your Employer or on the date your Employer joined BT Super, an insufficient number of eligible members in your Employer s plan take up Tailored Cover, you are a Spouse Member or Personal Member, or for SCI cover, you are a Member in a plan with employees in Special Risk Occupations, unless the Insurer has assessed the plan and agreed to provide cover

9 For Tailored Cover, if an insufficient number of Members in your Employer s plan who are eligible for Tailored Cover have taken up Tailored Cover, the relevant Automatic Acceptance Limit for the plan will cease. If you hold cover in your Employer s plan, your cover will be restricted to your existing amount of cover. New members of the plan may: be eligible for & TPD cover in Standard Cover, provided they meet the relevant eligibility criteria, or apply for SCI cover subject to underwriting. The Insurer may determine and issue special acceptance terms for medical or other reasons to any portion of the amount insured which exceeds the Automatic Acceptance Limit. For information about what medical information may be required please contact your Financial Adviser or us on Generally, the cost of any required medical evidence and/or reports will be met by the Insurer. You should not arrange for any medical evidence and/or reports before being instructed by the Insurer as you ll not be reimbursed for the expense of any particular medical evidence and/or reports which the Insurer does not require. The Insurer can request additional medical evidence and/or reports at its discretion to enable assessment of the application. Life Stage Insurance for Members with Tailored Cover 1 With our Life Stage Insurance option, as a result of the occurrence of a specified personal or business event, you can easily apply for increases in Only or & TPD cover without having to provide any additional evidence of health or insurability. The personal and business events covered and conditions applicable are set out in the relevant Master Policy and summarised below. The Life Stage Insurance option can only be exercised prior to your 65th birthday and is subject to the following conditions. The original application for Only or & TPD insurance cover made by you (if any) was accepted by the Insurer on standard terms without any exclusions, restrictions or premium loadings, or cover was granted under Automatic Acceptance Cover provisions. At the date of the application for a Life Stage increase, you must not have made and must not be eligible to make a claim under the relevant Master Policy. Applications for Life Stage Insurance are limited to two in any 12 month period and 10 in total over the life of your cover. Total increases under Life Stage Insurance cannot exceed the lesser of the original Only or & TPD cover and $1 million over the duration of cover. If you die or become TPD within six months after a Life Stage increase has been provided, the increased amount insured will only be paid if death or TPD occurs as a result of by Accident or TPD by Accident. No benefit will be payable on the increased amount insured if the claim is caused by or as a result of an intentional, self-inflicted act, whether sane or insane, within a period of 13 months from the date of any Life Stage increase. You must apply within 60 days after the occurrence of a personal event or your receipt of evidence following the occurrence of a business event. Increases will be approved under this option upon the Insurer s receipt of proof, satisfactory to the Insurer, of the occurrence and the date of the personal or business event. SCI benefits are not provided under Life Stage Insurance. If you accept a Life Stage increase, your level of cover will become a fixed amount and will only be altered at your specific request. As a result, any formula nominated by your Employer for the calculation of Tailored Cover within their plan (if applicable) will cease to apply to your cover, therefore your cover will no longer be affected by any changes to your Employer s nominated formula. Personal Events your marriage, your divorce, the birth or adoption of your child, or effecting a first mortgage on the purchase of your home, or increasing an existing first mortgage for the purposes of building or renovation works on your home. (The mortgage must be on your principal place of residence with a licensed mortgage provider). 1_ The Life Stage option is not available for members insured under Standard Cover. bt.com.au 9

10 Insurance in your super (Continued) If you effect a first mortgage on the purchase of a home or increase the amount of an existing first mortgage, your Only or & TPD cover amount may be increased under this option by the lesser of: ` ` 50% of your current amount of cover, the amount of the mortgage being taken out or amount of increase, and ` ` $200,000. For other personal events, your Only or & TPD cover amount may be increased under this option by the lesser of: 25% of your current amount of cover, and ` ` $200,000. Business Events Where you re a key person in a business (e.g. working partner or director or significant shareholder), and your value or financial interest in the business, averaged over the last three years has increased. For a business event, your Only or & TPD cover amount may be increased under this option by the lesser of: 25% of your current amount of cover, the increase in the value of your financial interest in the business or of your value to the business, whichever is appropriate, averaged over the last three years, and ` ` $200,000. Standard Cover Opt-up If: you are under age 70, and you join an Employer plan with five or more Members, and you join BT Super within 120 days of commencing employment with your Employer or on the same date your Employer establishes their Employer plan, you may elect within 60 days of receiving your Super Starter Pack to apply for an additional one or two units of Standard Cover with limited underwriting provided your total cover amount does not exceed 10 times Salary. For the purposes of this opt-up increase, Salary means: for permanent employees the annual gross remuneration paid by the Employer to you but excluding mandated superannuation contributions, and for Casual employees and Contractors the annual gross remuneration paid by the Employer to you in the 12 months immediately prior to applying for any increase in cover but excluding mandated superannuation contributions. An increase in your cover amount under this opt-up feature is subject to the following conditions: you must complete an Insurance Application form and if accepted by the Insurer, additional units of Only or & TPD cover will commence from the date we receive the completed Insurance Application form and confirm acceptance of the increase, and you must have never made a claim or been eligible to be paid a TPD benefit from any superannuation fund or insurance policy, and you must not have made a claim in the last three years for any injury or illness lasting more than four weeks through Workers Compensation, sickness benefits, invalid pension or any life insurance policy providing Total and Permanent Disablement cover or accident or sickness cover, and if you are not At Work on the date the increase in cover commences, New Events Cover will apply to the increased cover until you are At Work for 30 consecutive days after which time full cover will be provided. Interim accident cover If you make an application for insurance (for example, applying for new cover or increasing existing cover), the Insurer will provide you with Interim accident cover ( Interim accident cover ) once the Insurer has received a fully completed application and while the Insurer is assessing the application. You don t have to pay an extra premium for Interim accident cover. Commencement of Interim accident cover If applicable, Interim accident cover commences on the date your fully completed application has been received by the Insurer. of Interim accident cover Your cover will automatically end on the earliest of: 180 days from the date the application was signed;

11 the date the Insurer accepts your application on standard or special terms or declines your application; the date your application is cancelled or withdrawn; the date cover would otherwise have ceased under the plan; for Interim accident cover in respect of an SCI cover application, the date on which a benefit is payable under the relevant Master Policy. The circumstances in which the Insurer will pay a benefit under Interim accident cover and the amount of the benefit varies according to the benefits you applied for in your application, as set out below. A benefit is payable only once under this cover and only if the Insurer would have accepted the application. Types of Interim accident cover cover If you applied for cover, the Insurer will pay a benefit if you die as a result of by Accident. To be eligible, death must occur within 90 days of the accidental injury. Refer to the Glossary section in this Booklet for the by Accident definition. The benefit payable is the lesser of $5,000,000; and the amount of cover you applied for. Total and Permanent Disablement ( TPD ) Cover If you applied for TPD cover, the Insurer will pay a benefit if you become TPD as a result of a Total and Permanent Disablement by Accident. Refer to the Glossary section in this Booklet for the Total and Permanent Disablement by Accident definition. The benefit payable is the lesser of $3,000,000 ($1,500,000 for Members aged 65 and over, non-working Spouse Members and non-working Direct Personal Members) and the amount of TPD cover you applied for. Salary Continuance Insurance If you applied for Salary Continuance Insurance, the Insurer will pay a benefit if, as a result of Accidental Total Disability, you become Totally Disabled for longer than the. The amount of the benefit is the lesser of $25,000 per month or the amount applied for. The benefit will be paid until one of the following events occurs: You no longer satisfy the Accidental Total Disability definition (see the Glossary section in this Booklet for the Accidental Total Disability definition); The expiry of the maximum benefit period (which, in the case of an Interim Accidental Total Disability benefit, is six months); Your 65th birthday; or Your death. Cost of your insurance cover The amount you pay for insurance is called an insurance fee, commonly referred to as insurance premiums. Insurance fees are based on the type and amount of cover you or your Employer has chosen along with various factors such as your age, gender and occupation. Your insurance fee and amount of cover, if applicable, are calculated on commencement, on notification of certain changes to your membership details (e.g. occupation), and at 1 July each year. You must advise us when you cease active continuous employment or change your employment status so your insurance fees and cover can be reviewed and adjusted as appropriate. At the time of a claim, you will be assessed against the occupation you were working in immediately prior to your date of disablement. If you were working in a Special Risk Occupation at that time, a different definition of disability may apply. Insurance fee rates ( premium rates ) may alter depending on the Insurer s assessment of your circumstances. The Insurer reserves the right to revise insured amounts or fees in certain circumstances such as in the event of war or changes in tax legislation. Any government taxes or charges (including stamp duty) relating to a Master Policy will be passed on with immediate effect. Subject to certain exceptions (e.g. a change in premium rates due to a change in government taxes or charges), the Insurer generally must provide us with 90 days notice of a change in premium rates. If your stated age proves to have been incorrect, then: where your stated age means that insufficient insurance fees have been paid, the amount payable and every benefit accruing under the relevant Master Policy will be such as the insurance fees paid would have purchased on the basis of the correct age, bt.com.au 11

12 Insurance in your super (Continued) where your stated age means that excess insurance fees have been paid, the premium not required in respect of the Plan Year (i.e. the 12 month period commencing each 1 July) shall be refunded, and any corrections will be treated as part of the normal premium adjustment. Where an Employer group includes employees performing Special Risk Occupations (e.g. underground miner, explosives handler, pilot, etc), special insurance consideration is required (and may be subject to the assessment of medical and other evidence and acceptance of the cover by the Insurer) and may result in restrictions or exclusions on the cover, premium loadings, modified definitions of cover or declining of cover. For further information about the classification of your occupation, please refer to the Standard Cover rate tables and the Occupational factors table under Tailored premium rate tables in this Booklet. Unless you cancel your insurance cover, the insurance fees will be deducted from your BT Super account at the end of each month. How are insurance fees paid? Insurance fees are deducted monthly from your BT Super account. Insurance fees are deducted automatically from your super balance so you can protect yourself and your family s future without affecting your take-home pay or everyday cash flow. Insurance fees are generally tax deductible to BT Super. The benefit of this deduction is passed on to you in the form of a reduced fee or cost where applicable. Maintenance of cover Each year, your cover is renewed without additional medical declarations being required, subject to the relevant Master Policy continuing to be in place and you still meeting the eligibility requirements. Continued cover also depends on ongoing payment of insurance fees. Once cover ceases, new underwriting requirements as well as new terms of cover may apply. If you re an existing member and the balance of your BT Super account is insufficient to pay the insurance fees, you (and your Employer, if applicable) will be notified and will have a two calendar months grace period from when the last premium deduction was made to make a sufficient contribution to your account before cover is discontinued. If a sufficient contribution is not received within this period, cover will be cancelled with effect from the date the grace period expires. If you re a new member and no insurance fees have been previously deducted, you (and your Employer, if applicable) will be notified and will have a grace period of up to the end of the fifth calendar month from the date insurance cover was due to commence to make a contribution before cover is discontinued. If a sufficient contribution is not received within this period, cover will be cancelled from the date the grace period expires. Once a premium deduction has occurred, a new employee member will be treated as an existing member and will have two months to remit sufficient contributions to maintain cover. Cover remains in force during the grace period, however, any unpaid premium after the expiry of the grace period will cause the cover to lapse. If you die or are disabled during the grace period and a benefit is payable by the Insurer, the amount insured will be adjusted for any outstanding insurance fees. If you (or your Employer, if applicable) wish the cover to be recommenced or commenced (as applicable) after being cancelled at the end of the applicable grace periods, you will need to apply for cover and may not be able to take advantage of any previously available automatic acceptance of cover. Medical evidence may need to be submitted, assessed and accepted by the Insurer before cover is recommenced. The Insurer may decline to recommence or offer cover. Cancellation or reduction of cover You have the option of opting out, cancelling or reducing your insurance cover at any time by providing written notice to us. Members with Standard Cover may only cancel or reduce full units of cover. If you decide to opt-out, cancel or reduce your insurance cover, your monthly insurance fees will be adjusted accordingly. Any change will be effective from the date we receive your valid written request. Note: Before you exercise your option to opt-out, cancel or reduce your insurance cover provided, we recommend that you discuss this with your financial adviser. If you subsequently wish to gain cover you ll need to apply and be underwritten and accepted by the Insurer. The Insurer can decline to accept any application for insurance

13 Duration of cover Your Only and & TPD cover ceases at midnight on the earliest of: the date you die, the date you cease to be a member of BT Super, the date your written notification to cancel cover has been received by the Trustee, the date a Terminal Illness or TPD benefit is paid under the Policy (where the cover is greater than the amount of the Terminal Illness or TPD benefit paid, any residual cover will continue after payment of a Terminal Illness or TPD benefit subject to the other criteria continuing to be met), for TPD cover, you turning 70 years of age, or earlier if specified by the benefit design chosen by your Employer for its plan, for (including Terminal Illness) cover, you turning 75 years of age, or earlier if specified by the benefit design chosen by your Employer for its plan, the date the Policy is terminated, for non-australian Residents, the date you are no longer permanently in Australia except in the case of trips of three months or less, or you are not eligible to work in Australia, for Standard Cover only the date your application for your Standard Cover to be replaced with a fixed amount of Tailored Cover is accepted, for Standard Cover only the date your Employer elects to transfer your cover to Tailored Cover, for Only and & TPD in Tailored Cover only the date your Employer elects to transfer your cover to Standard Cover, if you are an existing member, and insurance fees have not been paid, the date the two calendar month grace period expires, or if you are a new member, and insurance fees have not been paid, the date the five calendar month grace period expires. Your SCI cover ends at midnight on the earliest of: the date you die, you ceasing to be a member of BT Super, the date your written notification to cancel cover has been received by the Trustee, the date a TPD or Terminal Illness benefit is paid by the Insurer under the Policy in respect of members on a two-year Maximum Benefit only, you turning age 65 or attaining your normal retirement date (generally age 65), if earlier, the date the Policy is terminated, for non-australian Residents, the date you are no longer permanently in Australia except in the case of trips of three months or less, or you are not eligible to work in Australia, if you re an existing member, and insurance fees have not been paid, the date the two calendar month grace period expires, or if you re a new member, and insurance fees have not been paid, the date the five calendar month grace period expires. Cover during approved (paid and unpaid) leave If you are on Approved Leave for up to 24 months, your cover will continue on the same terms as applied immediately prior to commencing Approved Leave, subject to the payment of the relevant insurance fees. If your Approved Leave is for more than 24 months, you may apply to the Insurer for cover to continue on the same terms beyond the 24 months, otherwise a different definition of TPD or Total Disability will apply (see the Glossary section of this Booklet). If you suffer disablement during your period of Approved Leave of up to 24 months (or, where an extension of cover beyond 24 months is approved by the Insurer, during the extended period of leave approved by the Insurer), your Pre-Disability Income will be determined as the average monthly Income you earned in the 12 months immediately prior to commencing Approved Leave. If you suffer disablement after being on Approved Leave for 24 months (or, where an extension of cover beyond 24 months is approved by the Insurer, after the extended period of leave approved by the Insurer), your Pre-Disability Income will be determined as the average monthly Income you earned in the 12 months immediately before the date of Total Disability. For SCI cover, any Total Disability or Partial Disability benefit will commence on the later of the date immediately after the expiry of the and your documented return to work date. Please refer to the Glossary section of this Booklet for the definitions of Approved Leave, Total and Permanent Disability and Total Disability. bt.com.au 13

14 Insurance in your super (Continued) What happens when you leave your Employer? When we are told that you have left your Employer s plan, subject to you (and your spouse, if applicable) meeting the personal member criteria, you (and your spouse, if applicable) will automatically be transferred to the personal division of BT Super. Please refer to When you change jobs in the Benefits of investing with BT Lifetime Super Employer Plan section in the Additional Information Booklet Part 1 General for details of the necessary criteria. Any employer-related discounts or loadings previously applied to your insurance fees will cease and as a result, your insurance fees may change. Any member specific exclusions or insurance fee loadings will continue to apply. Any Automatic Acceptance Limits and Forward Underwriting Limits will cease upon transfer. If your cover was New Events Cover, any conditions attaching to New Events Cover will continue to apply to you until such time as those conditions expire according to their terms. The occupation class recorded in your former Employer s plan will also continue to apply. However, at the time of a TPD or SCI claim, you will be assessed against the occupation you are working immediately prior to the date of disablement. If you are working in a Special Risk Occupation immediately prior to the date of disablement, you will be assessed for: a TPD claim against Parts A, C or D of the Total and Permanent Disability definition, and a SCI claim against Part B of the Total Disability definition, irrespective of the TPD or Total Disability definition (as applicable) you previously would have been eligible for in your former Employer s plan, or whether we were notified of your employment ceasing. Continuation of & TPD cover when you leave your Employer Upon becoming a Personal Member, for: Standard Cover members insurance cover will continue to be adjusted in line with the age-based scale, where the amount of cover will change over time provided you still meet the relevant eligibility criteria. Your insurance fees and insurance cover will not become a fixed amount. You can request to increase your existing Standard Cover, subject to providing the required medical evidence and the Insurer accepting the cover. The amount of increased cover is based on units of cover and any increase must be in multiples of whole units. Tailored Cover members your insurance cover will automatically continue on the same amount of cover that applied immediately prior to you (for former Employer sponsored members) or the former Employer sponsored member that you are linked to (for Spouse Members) ceasing employment provided you still meet the relevant eligibility criteria. This amount of cover will become a fixed amount; however, if at the time of a claim, we or the Insurer establish that the Employer did not notify us of the former Employer sponsored member s cessation of employment, your insurance cover will be calculated as the level of cover you held immediately prior to the date of claim. You will not need to provide additional medical information. Your tailored Only or & TPD cover as a Personal Member will increase on 1 July each year (subject to the maximum amount of cover under the Policy) until you reach age 60 by the greater of the Consumer Price Index ( CPI ) published on 1 December of the previous year of cover and 3% in order to protect the value of your insured benefit against the impact of inflation. You can opt out of indexation at any time by providing written notice to us, but if you do so there is no ability to subsequently opt in. CPI indexation of a Personal Member s cover will cease at age 60. You can request to increase your existing amount of cover, subject to providing the required medical evidence and the Insurer accepting the cover. Continuation of SCI Cover Your existing SCI cover will automatically continue subject to all of the following conditions: you still meet the relevant eligibility criteria (excluding the hours worked requirement) on the date the former Employer sponsored member ceased employment with their Employer, you are under age 65 on the last day of your, or in the case of Spouse Members, the former Employer sponsored member s, employment with the previous Employer, the former Employer sponsored member did not leave employment as a result of Sickness or Injury,

15 you are not receiving, or eligible to receive benefits for, or are in the process of lodging a TPD, Terminal Illness or SCI claim on the date the former Employer sponsored member ceased employment with their Employer, you will receive the same amount of cover that applied immediately prior to the former Employer sponsored member ceasing employment, and the same and benefit period will apply. In the event of an SCI claim for a Personal Member, the Monthly Benefit will be calculated based on the lesser of the following: 75% (plus up to 15% super contributions, if applicable) of your Pre-Disability Income; or the Monthly Benefit that applied to you based on your cover on the date immediately before becoming a Personal Member, up to the maximum benefit of $30,000. For SCI, your Pre-Disability Income will be determined as the average gross monthly Income earned by you over the 12 months immediately before the date of Total Disability. You can request to increase your existing amount of cover subject to providing the required medical evidence and the Insurer accepting the cover. Non-Australian Residents Cover for non-australian Residents will only be provided to a Member who holds a Visa and permanently resides in Australia. All cover provided to non-australian Residents will cease immediately upon the Insured Member departing Australia, except in the case of trips of three months or less. For the purposes of this Booklet, Visa means a current and valid visa issued in accordance with the Migration Act 1958 (Cth) or any amending or replacing Act. Examples are: Subclass 457 working visa; or Subclass 457 working visa (with an 8107 condition); or Spouse visa (spouse of a permanent Australian Resident on a two-year temporary stay visa) without a no work condition. Exclusions Interim accident cover (whilst being underwritten) An Interim accident benefit will not be paid if death or disability is caused directly or indirectly by: suicide or any attempt at suicide; self-inflicted injury or infection; the taking of alcohol or drugs other than prescribed by a Medical Practitioner; a physical condition which you knew about before this Interim accident cover commenced; engaging in any pursuit or occupation that the Insurer would not normally cover on standard rates or terms; participation in criminal activity; an act of war (whether declared or not); or for interim by Accident cover and interim by Accident and TPD by Accident cover, any other excluded event applicable to a or TPD benefit, as described below. For the purpose of Interim accident cover, the Interim accident benefit is that portion of the total benefit payable for which underwriting was required. If your benefit includes an amount for which underwriting is not required, these exclusions will not apply to that amount. However, the exclusions applicable to a, TPD or SCI benefit will apply to that amount (as relevant). Only and & TPD (including Terminal Illness) No benefit will be payable if a claim is caused by or as a result of: Active Service, on any insurance increase under the Life Stage Insurance option an intentional, self-inflicted act, whether sane or insane, within a period of 13 months from the date of commencing the additional Life Stage increase, for Personal Members death as a result of suicide or Terminal Illness or TPD as a result of a self-inflicted act within 13 months from the date cover commences or increased cover commences under the Policy, or any other underwriting exclusion imposed by the Insurer. bt.com.au 15

16 Insurance in your super (Continued) No benefit will be paid whilst you have New Events Cover during the 12 month period from the date cover commences if your death occurs as a result of suicide or TPD or Terminal Illness occurs as a result of a self-inflicted act. This exclusion only applies to: New members joining Employer plans with two to four members, or New members joining BT Super more than 120 days after commencing employment with their Employer or after the date their Employer establishes an Employer plan. The exclusion only applies during the 12 months New Events Cover period. Salary Continuance Insurance The Insurer won t cover any loss, fatal or non-fatal, caused by or resulting from: war or an act of war (whether declared or not), Active Service, any intentional self-inflicted act or attempted suicide or self-destruction while sane or insane, uncomplicated pregnancy, childbirth or miscarriage, or an exclusion which is specifically notified to you. Multiple insurance covers Duplicate claims under automatic acceptance terms will only be paid if you have more than one BT Super account due to: working for multiple and different employers (with the exception of where your Employer has merely changed its name), or becoming re-employed by an Employer with whom your employment had previously been terminated. In this instance, there must be a distinct, separate and broken period of employment. Duplicate claims will not be paid where the cause of the duplicated cover is due to administration errors by your Employer or us, whether fraudulent or not. Where erroneous duplication of insurance cover is identified, the duplicate cover will be cancelled from inception and any insurance fees paid for the duplicated cover will be refunded to your BT Super account. Adjustment of Tailored Cover for changes in Income For Tailored Cover, where the amount of cover is based on annual Income, the Employer will provide Income details for each Insured Member at 1 July each year. Where an Employer has not provided updated Income information for an Insured Member at the last 1 July or within the last 12 months, any benefit payable will be based on the lesser of the Income at the date of claim and the last Income amount provided by the Employer. For SCI cover, if your annual wage or salary has increased by more than 25% since the last 1 July, the Insurer reserves the right to limit the increase to 25%. However, the Insurer will increase the cover in excess of the 25% subject to the cover being underwritten and accepted by the Insurer. How and when are death and disability benefits paid? Generally, both and TPD benefits are first paid as a lump sum to the Trustee. The Trustee will pay the benefit to you (for Terminal Illness and TPD benefits), your dependant(s) or to your Legal Personal Representative (for benefits), provided the conditions of the Trust Deed and Australian superannuation law are met. The benefit is payable in addition to the value of your investment in BT Super. For further information refer to When can you access your super? in the Additional Information Booklet Part 1 General. Your investment choices will continue to apply until your death benefit payment is processed after the Trustee has made its decision regarding to whom benefits are to be paid. Any insurance benefit paid to the Trustee will be held in a non-interest-bearing account which will not be subject to investment earnings or losses, and will be paid as part of your final benefit. For information about nominating beneficiaries, refer to Nominating your beneficiaries in the Benefits of investing with BT Lifetime Super Employer Plan section of the Additional Information Booklet Part 1 General

17 Claiming a benefit The payment of any claim will be subject to the assessment of evidence required by the Insurer. In the event of death, the Insurer will (within a reasonable timeframe after the Insured Member s death) need copies certified by a legal practitioner, attorney or Justice of the Peace of the relevant: birth certificate, and death certificate. If the name on the birth certificate is different from the death certificate, a document such as marriage certificate or deed poll confirming the name change is also required. Terminal Illness benefit If you have cover and are Terminally Ill, the Insurer will pay a Terminal Illness benefit. This Terminal Illness benefit is a pre-payment of the insured benefit you would ordinarily receive upon death. You must provide all assistance, information and documentation reasonably requested by the Insurer in relation to the claim. Please refer to the Glossary section of this Booklet for the definition of Terminal Illness. If you receive a Terminal Illness benefit, any benefit paid to your beneficiaries will be reduced by the amount paid to you as a Terminal Illness benefit. The Terminal Illness benefit will be limited to the lower amount of either your cover amount or $3 million. Where your cover is greater than $3 million, the remaining cover will remain within BT Super until the cover ceases under one of the other conditions of cessation of cover, provided insurance fees continue to be paid. The Insurer reserves the right to require that you return to Australia (at your expense) for claim assessment and examination prior to payment of any, Terminal Illness benefit. The Insurer may not pay benefits where you don t return to Australia. If you wish to make a claim for a Terminal Illness Benefit, contact us on and request a claim form. Claiming a TPD or SCI benefit The Trustee should be notified as soon as reasonably practical, or within two years for TPD events, of the occurrence or awareness of an event giving rise to a claim. The Insurer will determine TPD from the Date of Disablement (please refer to the Glossary section of this Booklet). To claim a SCI benefit, you must have suffered Total Disability or Partial Disability. You must notify us of your Total Disability through Injury or Sickness as soon as is reasonably possible. Please refer to the Glossary section of this Booklet for the definitions of Injury, Sickness, Partial Disability and Total Disability. Continued payment of SCI benefits is subject to you providing updated proof of continued disability at your own cost, as reasonably requested by the Insurer, which may be on a monthly basis. When assessing your claim for a SCI benefit, the Insurer may determine that you re entitled to a TPD benefit. Where your TPD benefit is less than your benefit and you receive a TPD benefit, any benefit paid to your beneficiaries will be reduced by the amount paid to you as a TPD benefit. No benefits will be payable by the Insurer until the relevant TPD or SCI waiting period has expired and the Trustee and/or Insurer has determined that you re entitled to the benefit(s). At the time of a TPD or SCI claim, you will be assessed against the occupation you are working immediately prior to the date of disablement. If you are working in a Special Risk Occupation immediately prior to the date of disablement, you will be assessed for: a TPD claim against Parts A, C or D of the Total and Permanent Disability definition, and a SCI claim against Part B of the Total Disability definition, irrespective of the TPD or Total Disability definition (as applicable) you previously would have been eligible for in your former Employer s plan, or whether we were notified of your employment ceasing. For a TPD or SCI claim to be assessed, information will be requested from you, your Employer (if applicable) and your attending doctor(s). You must provide all assistance, information and documentation reasonably requested by the Insurer in relation to the claim. SCI Benefits of up to 75% of Pre-Disability Income will be paid directly to you, with any insured amount in excess of 75% paid into your BT Super account, up to a maximum of 15% of Pre-Disability Income, if applicable. Your SCI benefit may not exceed the maximum Monthly Benefit of $30,000. bt.com.au 17

18 Insurance in your super (Continued) The Insurer reserves the right to require that you return to Australia (at your expense) for claim assessment and examination prior to payment of any TPD benefit or continued payment of any SCI benefits. The Insurer may not pay benefits or may cease to pay SCI benefits where you don t return to Australia. The Insurer also reserves the right to arrange for you to be examined by a Medical Practitioner at the Insurer s expense to determine your insurance entitlement. For all claims, if you were ineligible when cover commenced and cover was provided in error, no benefits will be payable and overpaid premiums will be refunded to you, unless otherwise agreed between us and the Insurer. If you wish to make a claim for TPD or SCI benefits, contact us on and request a claim form. Standard Cover: TPD higher than benefit Where you have lodged a TPD claim which has not yet been paid, and you have higher TPD cover than cover, and you subsequently die or are certified as being Terminally Ill, the Insurer may pay a lump sum of an amount equal to your TPD cover provided the Insurer is satisfied that you would have satisfied the TPD definition prior to your death or being determined as being Terminally Ill. If you have not lodged a TPD claim prior to your death, then you will not be entitled to a higher TPD benefit in the event of your death. In addition, for any posthumous TPD claims, you must satisfy the following before a higher TPD benefit may be considered: for Part C of the TPD definition you are unable to perform at least two of the Activities of Daily Living as described in the definition for a period of six months, and for Part A of the TPD definition you survived for a period of 14 days after you suffered one of the six irrecoverable losses as described in the definition (see TPD definition under Glossary in this Booklet). How and when are SCI Benefits paid Total Disability Benefit If you re Totally Disabled through Injury or Sickness, the Insurer will pay the monthly benefit after the selected has ended. No benefit is paid during the, which may be either 30, 60 or 90 days, from the date that you re Totally Disabled. This benefit will be paid to you monthly in arrears for up to two years, five years or to age 65 (as applicable), commencing from the end of the. For example, a Member who lodged a valid claim and had a 30 day would receive their first payment approximately 60 days after becoming totally or partially disabled. The Total Disability benefit paid will be based on your monthly Income as reported by your Employer at the last 1 July. In calculating a Total Disability benefit, if, at the date of the disability, your Income is lower than the amount advised at the previous 1 July or the date that you joined BT Super (whichever is later), your benefit may be adjusted to reflect your Pre-Disability Income immediately before the disability. The amount insured will be paid at the end of each month in which you are entitled to be paid. For a part month, the Insurer will pay onethirtieth of the benefit for each day of disability. You may return to work for a total of five consecutive days or less during the 30 day (or 10 consecutive days or less if the is greater than 30 days) without the beginning again. Any days you work will be added to the length of the selected. If you return to work for more than the allowed number of days the full will recommence

19 Partial Disability Benefit If you are Partially Disabled after the has ended, the Insurer will pay you a proportion of your monthly benefit based on the reduction in your Pre-Disability Income determined according to the following formula: where: (A B) x C A A is your Pre-Disability Income. B is the greater of your Income during the month of Partial Disability or the Income you are capable of earning during the month of Partial Disability. C is the Monthly Benefit (subject to Claims Indexation being applied (see the Claims Indexation benefit section below) once you have received benefits under a claim for one full year for five year and to age 65 Maximum Benefit s only and every year thereafter whilst you continue to receive SCI benefits under the Master Policy). This benefit will be paid to you monthly in arrears for up to two years, five years or to age 65 (as applicable), commencing from the end of the which will have been selected by your Employer or yourself and is advised to you. Concurrent Disablement Where you are Totally Disabled because of more than one Injury or Sickness, or from both, whether related or not, benefits are payable in respect of only one Injury or Sickness, as the Insurer shall determine, based on medical evidence Recurrent Disability Benefit If a further SCI claim is made by you arising from the same or related cause as the first claim, the further claim: will be treated as a separate claim if it occurred after you returned to work for at least six consecutive months, or will be deemed to be a continuation of the original claim if made within six months from the ceasing of payments from the earlier claim. A further will not apply in this case, however, the maximum claim period will be adjusted to take into account prior claim payments. Waiver of premium For periods where SCI benefits are payable, you don t have to pay any insurance fees in respect of your SCI cover while receiving a Total or Partial Disability benefit. Salary Continuance Insurance fees will recommence from the date you cease to be disabled. Claims Indexation Benefit Where you make a claim for SCI benefits and have a benefit period of either five years or to age 65, in the event of a successful claim the monthly benefit will be indexed annually each year by the lower of the CPI Increase and 5% until you stop receiving benefits under the Policy. Superannuation Contributions Benefit For an additional premium you may choose to add the Superannuation Contributions Benefit. The Superannuation Contributions Benefit enables you to maintain your superannuation contributions during periods of disability. If selected, the benefit is the lesser of the monthly equivalent of: the amount of total superannuation contributions made by you, or your Employer on your behalf, in the 12 months immediately prior to your Total Disability or Partial Disability, or 15% of your Pre-Disability Income. The benefit will be paid directly to your BT Super account. This benefit will only be paid in circumstances permitted by the relevant laws relating to superannuation and taxation. Rehabilitation Expenses Where you attend a rehabilitation program which incorporates a return to work plan approved by the Insurer, the cost of that program will be paid by the Insurer to the program provider. Rehabilitation expenses relate to rehabilitation programs approved by the Insurer designed to rehabilitate an Insured Member to return to their pre-disablement occupation or retrain the Insured Member into another occupation. bt.com.au 19

20 Insurance in your super (Continued) Benefit reductions The benefit payable will be reduced for any amount which is paid, or is required to be paid, under Workers Compensation or Motor Accident Compensation or similar legislation in relation to your Injury or Sickness and from Income Protection (or other similar named benefit) from all insurers and from sick leave payments which, when combined with the benefits payable under this Policy, provide more than 75% of Pre-Disability Income for Total Disability and 100% of Pre-Disability Income for Partial Disability. The benefit payable will not be reduced by any amounts received by you in the form of superannuation entitlements or social security benefits. When does the payment of Salary Continuance Insurance cease? SCI benefits are payable until the earliest of: you no longer satisfy the Total Disability or Partial Disability definition, the expiry of your applicable Maximum Benefit, for Contractors, on the expiry of your employment contract, the date you attain age 65 or attaining your normal retirement date which is generally age 65 (if earlier), your death, or for Members with a two-year benefit period only, on payment of a Terminal Illness or TPD benefit under Standard Cover or Tailored Cover. Tapering of Tailored Cover ( & TPD only) Tapering of cover and TPD cover in Tailored Cover is applied when the amount of cover does not automatically reduce with age (e.g. a fixed benefit amount). From 1 July 2015, upon the Insured Member attaining the age of 70, cover will reduce by 15% per year each 1 July up to the cover expiry age as follows: Age cover reduction 70 15% 71 30% 72 45% 73 60% 74 75% % From 1 July 2015, upon the Insured Member attaining the age of 60, TPD cover will reduce by 15% per year each 1 July up to the 1 July prior to the Insured Member s 65th birthday. Thereafter, TPD cover will remain fixed until the cover expiry age, as follows: Age TPD cover reduction 60 15% 61 30% 62 45% 63 60% 64 75% 65 75% 66 75% 67 75% 68 75% 69 75% % Your Duty of Disclosure The Trustee has a duty of disclosure when entering into the group policies with the Insurer. As a condition of participation in BT Super, before you enter into a contract of life insurance with the Insurer, you have a duty, under the Insurance Contracts Act 1984, to disclose to the Insurer every matter that you know, or could reasonably be expected to know, that is relevant to the Insurer s decision whether to accept the risk of insurance and if so, on what terms. You have the same duty to disclose these matters to the Insurer before you extend, vary or reinstate a contract of life insurance. However, your duty does not require disclosure of a matter: that diminishes the risk to be undertaken by the insurer, that is common knowledge, that the Insurer knows, or ought to know, in the ordinary course of its business, or where your duty is waived by the Insurer. Non-disclosure If you fail to comply with your Duty of Disclosure and the Insurer would not have entered into the contract on any terms if the failure had not occurred, the Insurer may avoid the contract within three years of entering into it. If your non-disclosure is fraudulent, the Insurer may avoid the contract at any time

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