Life Insurance. Customer Information Brochure

Transcription

1 Customer Information Brochure Life Insurance Asteron Life Limited ABN Victoria Avenue Chatswood New South Waes 2067 Issued 1 Juy 2003 Expires 10 March 2004 Issue No 1 You shoud read the encosed materia carefuy, especiay the Key Features Statement. This contains the important information you shoud know about the product. Term Life Insurance Recovery Insurance Stand Aone Recovery Insurance Income Protection Insurance Secure TM Income Poicy Income Reserve Poicy Business Expenses Insurance

2 Asteron Member of the Promina Group Asteron is part of Promina, a eading insurance group offering a wide variety of products and services for a broad range of financia needs. Promina incudes some of the most recognised brands in Austraia and New Zeaand. Asteron s origins trace back to 1833 in Austraia and 1878 in New Zeaand. In both Austraia and New Zeaand, the company has a ong history of acquisitions and successfu integration of businesses, which contribute to Asteron s soid heritage. Today, Asteron is one of the argest financia service providers in Austraasia with over 750,000 customers taking advantage of our diverse range of insurance, investment and superannuation products & services, as we as our professiona financia advice and panning services. Our goa is to assist customers in securing their financia future. Whether they are setting out to protect their future or the peope they vaue, deveoping a strategy to create weath or setting back to enjoy retirement, we provide soutions that appy throughout the ifetime of the customer. At Asteron we combine decades of experience, knowedge and integrity with vision, creativity and vitaity for a responsive approach that enabes us to put our customers first, so fostering ong-asting and mutuay rewarding partnerships. The risk insurance portfoio of Asteron Life in Austraia comprises more than 288,000 poicies and $276 miion of in force annua premium. We provide products to protect individuas, famiies and businesses against the financia impacts of death, iness or injury. The Directors of Asteron Life Limited are: L E Tutt (Chairman) M J Wikins (Managing Director) H G Bentey J L Chugg A W Dipock P J Dwyer J H Engish (Aternate for M J Wikins) D P Fox E J Kuk G T Ricketts M Mezrani (Aternate for H G Bentey) Pease note The obigations of Asteron Life Limited are not guaranteed by any company within the Promina Group. Currency of this brochure This brochure is vaid unti 10 March 2004 uness it is withdrawn earier. This brochure becomes out of date after then and must not be used. We wi withdraw this brochure if it becomes miseading.

3 Tabe of Contents Term Life Insurance - with Optiona Tota and Permanent Disabement Cover 1 Key Features Statement 1 Introduction to Term Life Insurance 1 Premiums - Your Payment Options & Responsibiities 1 Benefits - The Features of Your Poicy 2 Taxation 3 Cooing Off Period 4 Other Information on Your Poicy 4 Additiona Information - Term Life Insurance 6 Tota and Permanent Disabement (TPD) 6 Specia Events Increase Option 7 Waiver of Premium Benefit 8 Financia Panning Benefit 8 Nominated Beneficiaries 8 Recovery Insurance 9 Key Features Statement 9 Introduction to Recovery Insurance 9 Premiums - Your Payment Options & Responsibiities 9 Benefits - The Features of Your Poicy 10 Optiona Benefits 12 Taxation 13 Cooing Off Period 13 Other Information on Your Poicy 13 Additiona Information - Recovery Insurance 14 Recovery Increase Benefit 14 Waiver of Premium Benefit 14 Financia Panning Benefit 15 Recovery Insurance Medica Definitions 15 Stand Aone Recovery Insurance 21 Key Features Statement 21 Introduction to Stand Aone Recovery Insurance 21 Premiums - Your Payment Options & Responsibiities 21 Benefits - The Features of Your Poicy 22 Optiona Benefits 23 Taxation 24 Cooing Off Period 24 Other Information on Your Poicy 24 Income Protection Insurance - Secure TM Income Poicy 25 Key Features Statement 25 Introduction to the Secure Income Poicy 25 Premiums - Your Payment Options & Responsibiities 25 Benefits - The Features of Your Poicy 26 Optiona Benefits 29 Taxation 29 Cooing Off Period 29 Other Information on Your Poicy 29 Additiona Information - Secure Income Poicy 30 Specified Injury Benefit 30 Overseas Assist Benefit 30 Income Protection Insurance - Income Reserve Poicy 31 Key Features Statement 31 Introduction to the Income Reserve Poicy 31 Premiums - Your Payment Options & Responsibiities 31 Benefits - The Features of Your Poicy 32 Additiona Features Incuded In Your Poicy 35 Optiona Benefits 35 What are the Charges? 35 Taxation 35 Cooing Off Period 36 Other Information on Your Poicy 36 Additiona Information - Income Reserve Poicy 37 Other Benefits that extend your cover under this Poicy 37 Optiona Benefits 40 Business Expenses Insurance 43 Key Features Statement 43 Introduction to Business Expenses Insurance 43 Premiums - Your Payment Options & Responsibiities 43 Benefits - The Features of Your Poicy 44 Taxation 47 Cooing Off Period 47 Other Information on Your Poicy 47

4 Tabe of Contents continued Term Life Insurance through a Superannuation Fund 49 Introduction 49 Asteron Life Superannuation Fund 49 Fund Trustee 49 Fund Manager and Insurer 49 Who Can Join and Contribute to the Fund? 49 Trust Deed 49 Insurance Benefit 49 How are Benefits Paid on Death? 50 What is the Super Estate Option? 50 Who can receive your Death Benefit? 50 How are Benefits Paid on Tota and Permanent Disabement? 51 Preservation Rues 51 Taxation 52 Taxation of Death Benefits 52 Reasonabe Benefit Limits 53 Taxation on Tota and Permanent Disbement Benefits 53 Other Fund Information 53 Management Fees and Charges 53 Reguar Reports 53 Cooing Off Period 53 Eigibe Roover Fund (ERF) 53 Famiy Law Review 54 Enquiries 54 Compaints Resoution 54 Superannuation Compaints Tribuna 54 Other Important Information About Your Poicy 55 Grief Support Service avaiabe on Term Life and Recovery Products 55 Privacy Statement 56 Statutory Fund 57 Goods and Services Tax (GST) 57 If You Have a Compaint 57 Duty of Discosure 57 Medica Information 57 Interim Cover 58 Directory inside back cover

5 Term Life Insurance with Optiona Tota and Permanent Disabement Cover Key Features Statement This Key Features Statement foows guideines set by the Austraian Securities and Investments Commission. It wi hep you to: decide whether this product wi meet your needs, and compare this product with others you may be considering. Important Notice The purpose of this poicy is to provide an amount of money in the event of death. This is not a savings pan. If you cance your poicy at any time you wi get nothing back. Introduction to Term Life Insurance Term Life Insurance pays your chosen sum insured on your death or termina iness. The sum insured is the amount of cover seected by you. The poicy covers you wordwide, 24 hours a day. We aso offer optiona Tota and Permanent Disabement (TPD) cover. If you choose this cover we wi pay your seected TPD sum insured if: you are unikey to ever return to work because of injury or sickness, or you suffer oss of imbs or sight, or you become permanenty unabe to perform activities of daiy iving, or you are suffering from significant cognitive impairment. For an additiona cost, you can purchase a Waiver of Premium Benefit so that no premiums wi be payabe whist you are disabed. You can take out this poicy on your own ife, in which case you are the insured person as we as the poicy owner. You can aso take out this poicy to insure someone ese s ife, say a famiy member or business partner. In this case that person is the insured person and you remain the poicy owner and maintain the rights of ownership and contro of the poicy. Throughout this brochure, where we refer to death, disabement or age, we are referring to the insured person and not the poicy owner. In the event of a caim, we pay the poicy owner, or their estate. If you are both the poicy owner and the insured person you can nominate who wi receive benefits payabe on your death (see page 8 under the heading Nominated Beneficiaries). We guarantee that we wi not cance this poicy because of a change in your heath or occupation, or in the event that you move, trave or become unempoyed. You can continue this Term Life Insurance poicy up to the anniversary of your poicy when you are 99. You may be abe to arrange Term Life Insurance through a superannuation fund (see pages for more detais). Premiums Your Payment Options & Responsibiities Your cover is maintained by the payment of premiums. Your premiums are based on various factors incuding the sum insured you choose, the frequency of payments, your age, your sex and whether you smoke. An additiona premium is charged if you seect TPD cover or the Waiver of Premium Benefit. For more detais about premiums, pease contact your ife insurance adviser. Tabes of Term Life Insurance premium rates are avaiabe on request. If you do not pay a premium, we wi contact you requesting payment. You wi be advised of the date when a cover wi cease if the premium is not received. We wi pass on any Government taxes or charges (incuding stamp duty) reating to this poicy. These taxes or charges are outside our contro. We may incude them as part of the premium or pass them on as a separate charge. We provide a variety of ways that you can pay your premiums to suit your financia arrangements. These options and the minimum premiums payabe are shown in the tabe on the foowing page. Premium Options We offer 2 premium options - Stepped and Leve. Stepped Premiums If you choose stepped premiums, your premium is recacuated (and wi usuay increase) on each anniversary of your poicy based on your age at that time. Premiums wi aso change if: you request us to change your sum insured, or you choose to have your sum insured automaticay increased each year to keep pace with infation (see Automatic Increase Option on page 3), or we review the rates. Premium Freeze Option If you choose the stepped premium option, you can freeze your premiums at any time. This means your premiums stay the same and your sum insured wi change (usuay decrease) each year as you get oder. Term Life Insurance 1 of 62

6 Frequency Method of Payment Yeary Haf Yeary Quartery Monthy Cash / Cheque 3 3 Not avaiabe Not avaiabe Credit Card* / Direct Debit* Minimum Premiums $200 $100 $50 $20 * Your financia institution may impose fees or charges. Leve Premiums If you choose eve premiums, your premium is cacuated at the start of the poicy based on your age at that time and wi ony change if: you request us to change your sum insured, or you choose to have your sum insured automaticay increased each year to keep pace with infation (see Automatic Increase Option on page 3), or we review the rates. Leve premiums cease on the anniversary of your poicy when you are 65. After this time, your premiums wi be cacuated on a stepped basis. Review of Rates Premiums may change foowing a review of our Term Life Insurance premium rates. We may review our rates at any time and as a resut premiums may increase or decrease. Premium rates wi ony change if we review a our Term Life Insurance rates, therefore you cannot be singed out for an increase. Superannuation Poicy If you take out this poicy through a superannuation fund, your premiums wi be paid by the Trustee out of your contributions to the fund. For more information on Term Life Insurance through a superannuation fund see pages Benefits The Features of Your Poicy Term Life Insurance Cover We wi pay your Term Life Insurance sum insured on your death. No payment wi be made if you die from suicide or intentiona sef-inficted injury within 13 months of the commencement or reinstatement date of the poicy. Where there has been an increase in the sum insured, no payment wi be made for the amount of the increase if suicide or intentiona sef-inficted injury occurs within 13 months of the commencement or reinstatement date of the increase. Termina Iness We wi pre-pay your Term Life Insurance sum insured up to a maximum of $2,000,000 on diagnosis of your termina iness, with any baance payabe upon death. Premiums are waived for any remaining ife cover. You are terminay i if you are diagnosed by a speciaist medica practitioner as having a ife expectancy of 12 months or ess due to an iness, regardess of any treatment that may be undertaken. This diagnosis may need to be confirmed by a speciaist medica practitioner of our choice. Tota and Permanent Disabement (TPD) Cover If you choose to incude TPD cover, we wi pay your TPD sum insured if you permanenty: 1.are unabe to work, or 2.ose imbs or sight, or 3.are unabe to perform activities of daiy iving, or 4.are suffering from significant cognitive impairment. Pease refer to page 6 for the compete definition of TPD. No payment wi be made if tota and permanent disabement is directy or indirecty caused by intentiona sef-inficted injury. The foowing appy to TPD: your TPD sum insured cannot exceed your Term Life Insurance sum insured, and your TPD cover wi stop if we make a payment for termina iness, and TPD cover for Unabe to Work ceases at the anniversary of your poicy when you are 65, and TPD cover under the Loss of Limbs, Activities of Daiy Living and Significant Cognitive Impairment tiers continues unti the anniversary of your poicy when you are 99. Pease refer to page 6 for further detais on our TPD definition. Unabe to Work You can choose between 2 definitions of unabe to work - Any Occupation and Own Occupation. 2 of 62 Term Life Insurance

7 Any Occupation The sum insured is payabe if you are permanenty unabe to work in any occupation for which you are reasonaby suited. Home-maker Within the Any Occupation definition we offer TPD cover if you have been performing norma domestic duties fu-time in your own residence for more than 6 months prior to any injury or iness that causes you to become totay and permanenty disabed. Pease refer to page 6 for the compete definition of TPD for home-makers. Own Occupation The sum insured is payabe if you are permanenty unabe to work in your own occupation. An additiona premium is payabe for this definition as it is specific to the occupation you perform, as distinct from any occupation you may be suited to perform. Modified TPD Aternativey, you can choose the Modified definition of TPD in which the Unabe to Work tier has been removed. This means that the premium wi be ower than for the Any Occupation or Own Occupation TPD definitions. Pease refer to page 6 for the fu definition of Modified TPD. Payment Options We offer the fexibiity of 2 payment options to enabe you to choose the cover that best suits your needs - Singe Payout TPD and Doube Payout TPD. Singe Payout TPD Under the singe payout TPD option, when we pay your TPD sum insured, your Term Life Insurance sum insured is reduced by this amount. The remaining sum insured, if any, is payabe for subsequent death or diagnosis of a termina iness. Future premiums are reduced to refect the ower sum insured. Buyback Offer This offer aows you to purchase ife cover (without TPD) 12 months after we make a payment under singe payout TPD. You can buy back cover for death and termina iness up to the amount of your TPD payment without further heath evidence. This offer appies if the payment has been made before the anniversary of your poicy when you are 65. Doube Payout TPD Under the doube payout TPD option, when we make a payment, your Term Life Insurance sum insured is not reduced and the future premiums are waived. The doube payout TPD option expires on the anniversary of your poicy when you are 65. Your TPD cover wi then continue with the singe payout TPD option. Your premiums wi be recacuated to refect this change. Automatic Increase Option To hep your poicy keep pace with infation, you can choose to have your sum insured automaticay increased. Each year we wi increase your sum insured by 3% or the Consumer Price Index (CPI), whichever is the greater. Your premiums wi be recacuated based on the increased sum insured. You can decine an increase in any year without affecting your right to take up future increases. If we have made a termina iness or doube payout TPD payment to you, no future annua increases wi appy. Financia Panning Benefit We provide a Financia Panning Benefit where a person is a recipient of a benefit paid to them under this poicy because of the death, termina iness or tota and permanent disabement of the insured person. Pease see page 8 for fu detais and conditions of this benefit. Grief Support Service We provide a Grief Support Service to assist the insured person or their immediate famiy members to start to come to terms with their reaction to grief which arises from a death or traumatic event. Pease see page 55 for fu detais and conditions of this service. Specia Events Increase Option The Specia Events Increase Option aows you to increase your Term Life Insurance sum insured upon a specia event without the need to provide further medica information. Specia events incude the birth of a chid, taking out or increasing a mortgage or increasing your financia interest in a business. Pease see page 7 for fu detais of this option. Waiver of Premium Benefit We understand that if you are disabed for an extended period of time, it can be difficut to meet your financia responsibiities. To hep ease your financia situation and ensure that your vauabe cover is maintained, you can purchase this Waiver of Premium Benefit. Under this benefit, we wi waive the premiums on your poicy after you have been disabed for a 6 month waiting period and we wi continue to waive the premiums as ong as you remain disabed up unti the anniversary of your poicy when you are 65 years of age. Pease see page 8 for fu detais of this benefit, incuding our definition of disabed. Term Life Insurance through Superannuation There are particuar egisative requirements and preservation rues that must be met before termina iness and TPD benefits become payabe from a superannuation fund. There are choices avaiabe as to how the Death Benefit can be paid, pease refer to pages for further detais on Term Life Insurance through superannuation and our Super Estate Option. Term Life Insurance 3 of 62

8 Avaiabiity of Cover Maximum Cover Sums Insured Premiums Entry Ages Expiry Age s Term Life Insurance No Maximum Stepped 17 to Leve 24 to 59 Singe Payout TPD Own Occupation $2,000,000 Stepped 17 to Any Occupation $2,500,000 Leve 24 to 59 65** Modified $2,500,000 Doube Payout TPD $1,500,000 Stepped 17 to 59 65** Leve 24 to 59 s Cover ends on the anniversary of your poicy at the expiry age indicated. Taxation The foowing information on taxation is based on the tax aws and ruings current on 5 June 2003, the continuance of these aws and our interpretation of them. It is a genera statement ony. Your individua circumstances may be quite different. You shoud consut your taxation adviser in regard to your persona detais. Term Life Insurance premiums are not normay tax deductibe. Payment of the sum insured is normay free of persona income tax, uness the insurance was taken out: by a business for a revenue purpose, or under a superannuation fund (in certain circumstances). If the poicy is taken out by a business for a capita purpose (for exampe to buy out a partner s share in the business), then there is no tax deduction and no tax is payabe on benefits provided the poicy is taken out on your own or your spouse s ife (for exampe a famiy business or a partnership). Capita Gains Tax (CGT) may appy in circumstances where the benefits are paid other than to the insured person, their spouse, chidren or other dependants. Term Life Insurance through Superannuation Where the poicy is taken out through a superannuation fund, we pay benefits to the Trustee. No taxes are due at this time. When the Trustee distributes funds in accordance with the terms of the Trust Deed, tax may be payabe. (Pease refer to page 49 for further detais). Contributors to superannuation funds may be entited to tax concessions on the contributions made. However, contributions to superannuation made on behaf of members earning more than $94,691*, or members who do not quote their tax fie number to the fund, may be subject to a tax surcharge of up to 15% on contributions. * Note: This amount reates to the 2003/2004 financia year and is indexed annuay. ** At 65 TPD converts to singe payout TPD on a stepped premium basis. Cooing Off Period There is a period of time in which you may cance the poicy without paying any charges. This is known as the cooing off period. During this time, you shoud check that the poicy meets your needs. The cooing off period is normay 28 days and commences from the date we issue the poicy document. Your cooing off rights wi not appy if there has been a caim. If you decide to cance your poicy in the cooing off period, you must return your poicy document together with a written request to cance the poicy to our Head Office. Any premiums paid wi be refunded to you. If you have taken out Term Life Insurance through superannuation pease refer to page 53 for your cooing off rights. Other Information on Your Poicy The Appication Process To appy for Term Life Insurance, you wi need to compete the appication form which is at the back of this brochure. If you have paid the first premium with your appication, we wi retain it and the interest we earn whie we consider your appication. Once we receive your appication, we wi commence the underwriting procedure. This may invove further information (for exampe on your heath) to be provided prior to acceptance. Cover Commences Cover commences once we have accepted your appication. To confirm our acceptance of your insurance cover we wi send you a poicy document. You shoud read this poicy document carefuy, as it contains important information. Interim Cover Whie your appication is being processed, we provide Interim Cover for death and TPD (if you are appying for TPD cover) as a resut of injury or iness. Your Interim Cover commences when your competed appication form and initia premium (or competed deduction authority) are odged at one of our State Offices or our Head Office. Pease refer to pages for fu detais about Interim Cover. 4 of 62 Term Life Insurance

9 Superannuation Statements If you take out this poicy through a superannuation fund the fund trustee wi send you a statement at east once a year which incudes: your eve of cover, any changes to fees and charges, and any other reevant information required under superannuation aw. Enquiries If you have any questions about the poicy, pease ca either your ife insurance adviser or Customer Service on for Sydney caers or for caers outside the Sydney metropoitan area. If you have a compaint, there are both interna and externa compaints handing processes to assist in reaching a resoution. Pease refer to page 57 (or page 54 if you take out this poicy through a superannuation fund) for contact detais and information on the steps invoved. Term Life Insurance 5 of 62

10 Additiona Information - Term Life Insurance Tota and Permanent Disabement (TPD) TPD cover has a 4 tiered definition: 1. Unabe to work 2. Loss of imbs or sight 3. Unabe to perform activities of daiy iving 4. Suffering from significant cognitive impairment If you meet the criteria under any one of the tiers, we wi pay your TPD sum insured. If you prefer, you can choose the Modified TPD definition when you first take out your Term Life Insurance poicy with us. The premium wi be ower than if you seect Own Occupation TPD or Any Occupation TPD as the Modified definition does not incude the Unabe to work tier. Under this Modified TPD definition, you are totay and permanenty disabed if: you suffer oss of imbs or sight, or you are unabe to perform the activities of daiy iving, or you are suffering from significant cognitive impairment. Your TPD cover wi convert to the Modified definition: on the anniversary of your poicy when you are 65, or if you are permanenty retired, or if you have been unempoyed for more than 6 months prior to your disabement and have not been engaged fu-time in norma domestic duties in your own home for the past 6 months. We wi not pay if tota and permanent disabement is directy or indirecty caused by intentiona sef-inficted injury. 1. Unabe to Work You have the choice between the Own Occupation and Any Occupation definitions. This tier ony appies if the injury or iness occurs whie you are working in reguar empoyment for income, or you have been unempoyed for ess than 6 months, or you are undertaking the duties of a Home-maker. By unempoyed we mean you are not in reguar empoyment for income. Own Occupation Definition Under the Own Occupation definition, you are totay and permanenty disabed if: you suffer an injury or iness, and you are unabe to work because of that injury or iness for a continuous period of 6 months, and we beieve, after consideration of medica and any other evidence, that you have become incapacitated to such an extent that you are unikey ever to be abe to work again in your own occupation. Any Occupation Definition Under the Any Occupation definition, you are totay and permanenty disabed if: you suffer an injury or iness, and you are unabe to work because of that injury or iness for a continuous period of 6 months, and we beieve, after consideration of medica and any other evidence, that you have become incapacitated to such an extent that you are unikey ever to be abe to work again in any occupation, for which you are reasonaby suited, that pays you more than 25% of the amount you earned during the 12 months before the start of your continuous absence from empoyment. Home-maker Under the Home-maker definition, you are totay and permanenty disabed if: you suffer an injury or iness whie you had been engaged futime in norma domestic duties in your own home for more than 6 months, and you have been unabe to perform any norma domestic duties because of the injury or iness for a continuous period of at east 6 months, and we beieve, after consideration of medica and any other evidence, that you are incapacitated to such an extent that you are unikey ever to be abe to perform norma domestic duties and engage in any occupation for which you are reasonaby suited. Norma domestic duties are the duties normay performed by a person who remains at home and is not working in reguar empoyment for income. Norma domestic duties incude ceaning the home, washing, shopping for food, cooking meas and when appicabe, ooking after chidren. 2. Loss of Limbs or Sight You are totay and permanenty disabed if you suffer the tota and permanent oss of use of: both feet, or both hands, or the sight in both eyes (to the extent of 6/60 or ess), or any combination of two of: a hand, a foot or sight in an eye (to the extent of 6/60 or ess). 6 of 62 Term Life Insurance

11 3. Activities of Daiy Living You are totay and permanenty disabed if we beieve you are constanty and permanenty unabe to perform 2 or more of the foowing Activities of Daiy Living without the physica assistance of someone ese. The Activities of Daiy Living are: 1. bathing and showering 2. dressing and undressing 3. eating and drinking 4. maintaining continence with a reasonabe eve of persona hygiene 5. getting in and out of bed, a chair or wheechair, or moving from pace to pace by waking, wheechair or waking aid. Pease note: If you can perform the activity on your own by using specia equipment we wi not consider you as unabe to perform that activity. 4. Significant Cognitive Impairment You are totay and permanenty disabed if we beieve you are suffering from significant cognitive impairment. Significant cognitive impairment means a deterioration or oss of inteectua capacity that requires the insured person to be under continuous care and supervision by someone ese. No payment wi be made if significant cognitive impairment is directy or indirecty caused by acoho or drug abuse. Specia Events Increase Option We understand there are certain events such as marriage, the birth of a chid, or an increase in the share of a business that have an impact on the need for insurance. To enabe your cover to change with your circumstances, we incude a Specia Events Increase Option under our Term Life Insurance poicy. This option aows you to increase your Term Life Insurance sum insured when certain important events occur in your ife, without the hasses of further medica evidence. This option does not appy to TPD cover. The foowing tabe describes the events and outines what is required to increase cover on the occurrence of any of these events. The Specia Events Increase Option is ony avaiabe if you are 55 years of age or under when you appy for the poicy. To increase your cover under this option you need to: be 60 years of age or under at the time of the specia event, and appy within 60 days of the specia event or appy within 30 days of the next anniversary of your poicy after the specia event (the event must have occurred within the previous 12 months). The Specia Events Increase Option does not appy if we have paid a Termina Iness or TPD caim, if you are entited to make a caim or if your premiums are being waived. Specia Event Proof Marriage Birth or adoption of a chid Taking out a mortgage on a home or business of at east $25,000 or increasing an existing mortgage by at east $25,000 An annua saary increase of at east $5,000 Copy of marriage certificate Copy of birth or adoption certificate Copy of mortgage and oan documents Paysips or etter from empoyer confirming the saary increase Increase in the financia interest in the business of at east Copy of minutes from meetings with other partners or $25,000 if the insured person is a working partner or a working directors approving the increase director in the business Every 5th anniversary of your Term Life Insurance poicy with You must have hed the poicy continuousy for Asteron Life at east 5 years Minimum increase: $25,000 per event Maximum increase for each event is the owest of: $100,000, or 50% of your origina sum insured, or 5 times the saary increase, or the amount of a new mortgage or the increase in your current mortgage, if you are taking the mortgage specia event Maximum increase in tota due to Specia Events: is the origina sum insured You can ony have one increase under this option in any 12 month period. Term Life Insurance 7 of 62

12 When you increase your cover under this option, your premium wi be recacuated based on the increased sum insured. Waiver of Premium Benefit We understand that if you are disabed for an extended period of time, it can be difficut to meet your financia responsibiities. To hep ease your financia situation and ensure that your vauabe cover is maintained, you can purchase this Waiver of Premium Benefit. Under this benefit, we wi waive the premiums on your poicy after you have been disabed for a 6 month waiting period and we wi continue to waive the premiums as ong as you remain disabed, unti the anniversary of your poicy when you are 65 years of age. This benefit is ony avaiabe if you were 59 years of age or under when you appied for the poicy. For the purposes of this benefit, you are disabed if: you suffer an injury or iness, and after consideration of medica and other evidence, we beieve you are unabe to work because of that injury or iness in any occupation for which you are reasonaby suited by education, training or experience. If you were performing norma domestic duties fu-time in your own home at the time of the injury or iness, we wi accept norma domestic duties as the occupation for which you are reasonaby suited. Pease refer to page 6 for our definition of norma domestic duties. We wi not waive any premiums that fa due during the 6 month waiting period, but if we accept your waiver of premium caim, we wi refund any premiums paid during this period. The Automatic Increase Option sti appies whie your premiums are being waived. If disabiity from the same cause recurs within 6 months of the end of the disabement period, we wi waive premiums without the need for you to begin a new waiting period. The Specia Events Increase Option wi not appy whie your premiums are being waived but wi begin again on the anniversary of your poicy immediatey after the Waiver of Premium Benefit caim has ceased and you recommence paying premiums. When you recommence paying premiums, the premiums wi be increased/reduced to take into account any changes that woud have occurred if the premiums had not been waived. No premiums wi be waived if disabiity is directy or indirecty caused by intentiona sef-inficted injury. Financia Panning Benefit Where a person is a recipient of a benefit paid to them under this poicy because of the death, termina iness or tota and permanent disabement of the insured person we wi reimburse the recipient for the cost of up to $1,500 for accredited financia panning advice that they obtain. Where there is more than one recipient of the sum insured each recipient wi be entited to an equa share of the Financia Panning Benefit. We wi not pay an amount more than $1,500 in respect of each poicy. Financia panning advice must be provided by an approved adviser and the Financia Panning Benefit caimed within 12 months of payment of the sum insured. Payment of the Financia Panning Benefit does not reduce the amount of any other benefit payabe under the poicy, and is subject to our norma caim requirements incuding receipt of proof of the cost of the financia panning advice caimed. The Financia Panning Benefit can ony be paid once. Nominated Beneficiaries Term Life Insurance and Recovery Insurance If the insured person dies we pay the sum insured to the owner of the poicy. If you are both the poicy owner and the insured person, we pay your estate. However, you can nominate other beneficiaries (such as your partner or chidren) to receive the benefit on death. By nominating beneficiaries, you can ensure that the amount we pay on death does not form part of your estate. Beneficiaries of your poicy can therefore avoid the requirements, costs and possibe deays of obtaining probate and administering the estate. You can nominate up to 10 beneficiaries and change them at any time before your death. Pease note: A nominated beneficiary must be an individua, a charitabe foundation or a company. A change to your nominated beneficiaries wi not take effect unti we have confirmed it. In some circumstances the amount paid to nominated beneficiaries may be subject to court review. Transferring the ownership of the poicy to another person wi cance any beneficiary nominations. For information about nominating beneficiaries if you arrange the poicy through a superannuation fund, see page 50 under the heading How are Benefits Paid on Death? and How are Benefits Paid on Tota and Permanent Disabement on page of 62 Term Life Insurance

13 Recovery Insurance Key Features Statement This Key Features Statement foows guideines set by the Austraian Securities and Investments Commission. It wi hep you to: decide whether this product wi meet your needs, and compare this product with others you may be considering. Important Notice The purpose of this poicy is to provide a benefit in the event of death, the diagnosis of termina iness, certain serious medica conditions or procedures and tota and permanent disabement. This is not a savings pan. If you cance your poicy at any time you wi get nothing back. Introduction to Recovery Insurance Recovery Insurance pays your chosen sum insured on: death, or the occurrence of one of the isted serious medica conditions or procedures as detaied on pages 15-19, or the diagnosis of termina iness, or tota and permanent disabement (TPD). We aso offer a Chid Recovery option to enabe you to insure your chidren against serious medica conditions and death. This poicy covers you wordwide, 24 hours a day. You can take out this poicy on your own ife, in which case you are the insured person as we as the poicy owner. You can aso take out this poicy to insure someone ese s ife, say a famiy member or business partner. In this case, that person is the insured person and you remain the poicy owner and maintain the rights of ownership and contro of the poicy. Throughout this brochure, where we refer to death, disabement, serious medica conditions, procedures, or age, we are referring to the insured person and not the poicy owner. In the event of a caim, we pay the poicy owner or their estate. If you are both the poicy owner and the insured person, you can nominate who wi receive the benefits on your death (see page 8 under the heading Nominated Beneficiaries). We guarantee that we wi not cance this poicy because of a change in your heath or occupation, or if you move, trave or become unempoyed. You can continue this Recovery Insurance poicy up to the anniversary of your poicy when you are 65. This poicy cannot be taken out through a superannuation fund. Premiums Your Payment Options & Responsibiities Your cover is maintained by the payment of premiums. Your premiums are based on various factors incuding the sum insured you choose, the frequency of payments, your age, your sex and whether you smoke. An additiona premium is charged if you seect the Waiver of Premium Benefit. For more detais about premiums, pease contact your ife insurance adviser. Tabes of Recovery Insurance premium rates are avaiabe on request. If you do not pay a premium, we wi contact you requesting payment. You wi be advised of the date when a cover wi cease if the premium is not received. We wi pass on any Government taxes or charges (incuding stamp duty) reating to this poicy. These taxes or charges are outside our contro. We may incude them as part of the premium or pass them on as a separate charge. We provide a variety of ways that you can pay your premiums to suit your financia arrangements. These options and minimum premiums payabe are shown in the tabe on the foowing page. A premium discount appies when Additiona Term Life Insurance is taken out with this poicy. The discount is currenty $40 per annum but may be reviewed in the future. Premium Options We offer 2 premium options - Stepped and Leve. Stepped Premiums If you choose stepped premiums, your premium is recacuated (and wi usuay increase) on each anniversary of your poicy based on your age at that time. Premiums wi aso change if: you request us to change your sum insured, or you choose to have your sum insured automaticay increased each year to keep pace with infation (see Automatic Increase Option on page 11), or we review the rates. Recovery Insurance 9 of 62

14 Frequency Method of Payment Yeary Haf Yeary Quartery Monthy Cash / Cheque 3 3 Not avaiabe Not avaiabe Credit Card* / Direct Debit* Minimum Recovery Insurance Premiums $200 $100 $50 $20 Minimum Additiona Term Life Insurance Premiums $100 $50 $25 $10 Minimum Chid Recovery Premiums $12 $6 $3 $1 * Your financia institution may impose fees or charges. Premium Freeze option If you choose the stepped premium option, you can freeze your premiums at any time. This means your premiums stay the same and your sum insured wi change (usuay decrease) each year as you get oder. Leve Premiums If you choose eve premiums, your premium is cacuated at the start of the poicy based on your age at that time and wi ony change if: you request us to change your sum insured, or you choose to have your sum insured automaticay increased each year to keep pace with infation (see Automatic Increase Option on page 11), or we review the rates. Review of Rates Premiums may change foowing a review of our Recovery Insurance premium rates. We may review our rates at any time and as a resut premiums may increase or decrease. Premium rates wi ony change if we review a our Recovery Insurance rates, therefore you cannot be singed out for an increase. Benefits The Features of Your Poicy We wi pay your fu sum insured on the eariest occurrence of one of the foowing: Death Bindness Cancer* Cardiomyopathy Chronic Kidney (Rena) Faiure Coma Coronary Artery Angiopasty - Tripe Vesse* Coronary Artery Surgery* Deafness Dementia Heart Attack* Heart Surgery (open)* HIV - Medicay Acquired HIV - Occupationay Acquired Intensive Care Intracrania Benign Tumour Loss of Speech Major Head Trauma Major Organ Transpant Motor Neurone Disease Mutipe Scerosis Paraysis Parkinson s Disease Repair or Repacement of Aorta* Repair or Repacement of Vaves* Severe Burns Stroke* Termina Iness Tota and Permanent Disabement which is: 1. Permanenty unabe to work with Own Occupation definition, or 2. Loss of imbs or sight, or 3. Unabe to perform the activities of daiy iving, or 4. Suffering from significant cognitive impairment. *3 month excusion appies We wi make a partia payment on the occurrence of: Coronary Artery Angiopasty* We wi pay this benefit more than once if there is at east 6 months between each coronary artery angiopasty operation. 10 of 62 Recovery Insurance

15 Avaiabiity of Cover Minimum Maximum Cover Premiums Entry Ages Expiry Age s Sum Insured Sum Insured Recovery Insurance Stepped 20 to $10,000 $1,500,000 Leve 24 to 59 Chid Recovery 2 to $10,000 $100,000 s Cover ends on the anniversary of your poicy at the expiry age indicated. We wi pay the greater of 10% of your sum insured and $10,000. Serious Accidenta Injury We wi ony pay this benefit once and we wi pay the greater of 10% of your sum insured and $10,000. Singe Loss of Limb or Eye We wi ony pay this benefit once and we wi pay the greater of 10% of your sum insured and $10,000. Your Recovery Insurance sum insured is reduced by the payment made and your premiums wi be recacuated based on the reduced sum insured. *3 month excusion appies These terms are defined on pages The amount we pay under a Recovery Insurance poicy wi not be reduced by any entitement you may have under any other insurance poicies. When We Wi Not Pay No payment wi be made for any conditions marked with an asterisk (*) if you are first diagnosed or the condition occurs within 3 months of the commencement or reinstatement date of the poicy. Where there has been an increase in the sum insured, no payment wi be made for the amount of the increase if you are first diagnosed within 3 months of the commencement or reinstatement date of the increase. We wi pay for any new and unreated occurrence of these conditions or procedures after this 3 month period. The 3 month excusion wi not appy to this poicy if: it is repacing an existing trauma insurance poicy that has been in pace for onger than 3 months, and your od poicy covers the same serious medica conditions and procedures, and your od sum insured was the same as or greater than the sum insured appied for with us. No payment wi be made for: any serious medica condition or procedure, death or tota and permanent disabiity resuting from an intentiona sef-inficted cause, or suicide within the first 13 months of the commencement or reinstatement date of the poicy, or an increase in the sum insured if suicide occurs within the first 13 months of the commencement or reinstatement date of the increase. Buyback Offer This offer aows you to purchase ife cover (without TPD) 12 months after we make a fu Recovery Insurance payment other than for death or termina iness. You can buy back cover for death and termina iness up to the amount of your Recovery Insurance payment without needing to provide further heath evidence. If you choose this offer, any specia conditions which appied to your Recovery Insurance poicy wi aso appy to the new poicy. Automatic Increase Option To hep your poicy keep pace with infation, you can choose to have your sum insured automaticay increased. Each year we wi increase your sum insured by 3% or the Consumer Price Index (CPI), whichever is the greater. Your premiums wi be recacuated based on the increased sum insured. You can decine an increase in any year without affecting your right to take up future increases. Financia Panning Benefit We provide a Financia Panning Benefit where a person is a recipient of a benefit paid to them under this poicy because of the diagnosis of a serious medica condition or procedure, death or tota and permanent disabement of the insured person. Pease see page 15 for fu detais and conditions of this benefit. Grief Support Service We provide a Grief Support Service to assist the insured person or their immediate famiy members to start to come to terms with their reaction to grief which arises from a death or traumatic event. Pease see page 55 for fu detais and conditions of this service. Recovery Insurance 11 of 62

16 Converting from Recovery Insurance to Term Life Insurance You can change your Recovery Insurance poicy into a Term Life Insurance poicy at any time before we make a fu payment. If we have made a partia payment, the new Term Life Insurance sum insured wi be the same as your reduced Recovery Insurance sum insured. If your Recovery Insurance poicy incudes TPD, we wi provide singe payout TPD when you convert your poicy. Your poicy wi automaticay become a Term Life Insurance poicy with singe payout TPD on the anniversary of your poicy when you are 65. When your Recovery Insurance poicy converts to a Term Life Insurance poicy, any specia conditions on your existing poicy wi aso appy to the new poicy. Recovery Increase Benefit We understand that certain events such as marriage, the birth of a chid or an increase in your mortgage can have an impact on your insurance needs. As you wi not need to provide any medica evidence, our Recovery Increase Benefit is an easy way for you to increase your cover when important events such as these occur in your ife. Pease refer to page 14 for fu detais about this benefit. Optiona Benefits You can seect the foowing options at an additiona cost to extend the cover under this poicy. Additiona Term Life Insurance You can purchase extra Term Life Insurance and TPD cover to top up your Recovery Insurance poicy by taking Additiona Term Life Insurance. This wi provide extra financia security in the event of death or permanent disabement. The premiums, benefits and other detais are the same as Term Life Insurance. Pease refer to the Term Life Insurance Key Features Statement commencing on page 1. Waiver of Premium Benefit We understand that if you are disabed for an extended period of time, it can be difficut to meet your financia responsibiities. To hep ease your financia situation and ensure that your vauabe cover is maintained, you can purchase this Waiver of Premium Benefit. Under this benefit, we wi waive the premiums on your poicy after you have been disabed for a 6 month waiting period and we wi continue to waive the premiums as ong as you remain disabed, up unti the anniversary of your poicy when you are 65 years of age. Pease refer to page 14 for fu detais of this benefit, incuding our definition of 'disabed'. Chid Recovery Benefit Chidren from 2 to 20 years of age can be insured under Chid Recovery. You can choose an amount of cover between $10,000 and $100,000 per chid. The sum insured must be in mutipes of $10,000. When we wi pay We wi pay the Chid Recovery sum insured on the eariest occurrence of one of the foowing for each insured chid: Death Bindness Brain Damage Cancer* Cardiomyopathy Chronic Kidney (Rena) Faiure Deafness Encephaitis Intensive Care Intracrania Benign Tumour Loss of Limbs or Sight Loss of Speech Major Head Trauma Major Organ Transpant Meningitis Paraysis Severe Burns Stroke* Termina Iness * 3 month excusion appies We wi make a partia payment on the occurrence of: Serious Accidenta Injury Singe Loss of Limb or Eye Partia payments wi be imited to $10,000 and ony one payment wi be made under each of these definitions. The Chid Recovery Insurance sum insured is reduced by the partia payment made and the premiums wi be recacuated based on the reduced sum insured. These terms are defined on pages When we wi not pay No payment wi be made for any conditions marked with an asterisk (*) if the insured chid is first diagnosed within 3 months of the commencement or reinstatement date of the benefit. 12 of 62 Recovery Insurance

17 Where there has been an increase in the sum insured, no payment wi be made for the amount of the increase if the insured chid is first diagnosed within 3 months of the commencement or reinstatement date of the increase. We wi pay for any new and unreated occurrence of these conditions or procedures after this 3 month period. No payment wi be made under Chid Recovery if iness, injury or death of an insured chid is caused by: an intentiona sef-inficted act by the chid, or suicide in the first 13 months of the commencement or reinstatement date of the poicy, or the chid s parents, or guardian, or someone who ives with or supervises the chid, or a congenita condition. Where there has been an increase in the sum insured, no payment wi be made for the amount of the increase if suicide occurs within the first 13 months of the commencement or reinstatement date of the increase. Future cover Cover wi cease on the anniversary of the poicy when the insured chid is 21 years of age. At this time you can continue their cover under a Recovery Insurance poicy with Modified TPD. The new cover wi be provided by the poicy we beieve, at the time, is most ike your origina Recovery Insurance poicy. If the new poicy is for the same or a esser amount of cover than the origina poicy, you wi not need to provide any medica evidence. You must appy within 30 days of the Chid Recovery expiry date. Taxation The foowing tax information is based on the tax aws and ruings current on 5 June 2003, the continuance of these aws and our interpretation of them. It is a genera statement ony. Your individua circumstances may be quite different. You shoud consut your taxation adviser in regard to your persona detais. Recovery Insurance premiums are not normay tax deductibe. Payment of the sum insured under this poicy is normay free of persona income tax. If the poicy is taken out by a business for a revenue purpose (for exampe repacing business income if a key person dies), the premiums wi be tax deductibe and any benefits received wi be assessed as income. If the poicy is taken out by a business for a capita purpose (for exampe to buy out a partner s share in the business), then there is no tax deduction and no tax is payabe on benefits provided the poicy is taken out on your own or your spouse s ife (for exampe a famiy business or a partnership). Capita Gains Tax (CGT) may appy in circumstances where the benefits are paid other than to the insured person, their spouse, chidren or other dependants. Cooing Off Period There is a period of time in which you may cance the poicy without paying any charges. This is known as the cooing off period. During this time, you shoud check that the poicy meets your needs. The cooing off period is 28 days and commences from the date we issue the poicy document. Your cooing off rights wi not appy if there has been a caim. If you decide to cance your poicy in the cooing off period, you must return your poicy document together with a written request to cance the poicy to our Head Office. Any premiums paid wi be refunded to you. Other Information on Your Poicy The Appication Process To appy for Recovery Insurance you wi need to compete the appication form which is at the back of this brochure. If you have paid the first premium with your appication, we wi retain it and the interest we earn whie we consider your appication. Once we receive your appication, we wi commence the underwriting procedure. This may invove further information (for exampe on your heath) to be provided prior to acceptance. Cover Commences Cover commences once we have accepted your appication. To confirm our acceptance of your insurance cover we wi send you a poicy document. You shoud read this poicy document carefuy, as it contains important information. Interim Cover Whie your appication is being processed, we provide Interim Cover for death and TPD as a resut of injury or iness. We aso provide Interim Cover for certain serious medica conditions directy as a resut of an accident. Your Interim Cover commences when your competed appication form and initia premium (or competed deduction authority) is odged at one of our State Offices or our Head Office. Pease refer to pages for fu detais about Interim Cover. Enquiries If you have any questions about the poicy, pease ca either your ife insurance adviser or Customer Service on for Sydney caers or for caers outside the Sydney metropoitan area. If you have a compaint, there are both interna and externa compaints handing processes to assist in reaching a resoution. Pease refer to page 57 for contact detais and information on the steps invoved. Recovery Insurance 13 of 62

18 Additiona Information - Recovery Insurance Recovery Increase Benefit Certain events such as marriage, the birth of a chid or an increased mortgage can have an impact on the need for insurance. To enabe your cover to change with your circumstances, we incude a Recovery Increase Benefit under our Recovery Insurance poicy. This option aows you to increase your Recovery Insurance sum insured when certain important events occur in your ife, without the hasses of further medica evidence. This benefit is ony avaiabe if you were 55 years of age or under at the commencement of your Recovery Insurance poicy. You must appy for the increase: within 60 days of the event, or within 30 days of the next anniversary of your poicy after the event (the event must have occurred within the previous 12 months). You must be 60 years of age or under at the time of the event. The maximum increase for each event is the ower of $25,000 and the Recovery Insurance sum insured. The maximum increase in tota due to Recovery Increase Benefit events is the origina sum insured. When your cover increases, your premiums wi change and wi be cacuated based on the new amount of cover. The Recovery Increase Benefit does not appy if we have paid a caim on your poicy, if you are entited to make a caim or if your premiums are being waived. The tabe beow describes the events covered in this benefit and shows what you wi need to provide if you choose to increase the amount of your Recovery Insurance. Waiver of Premium Benefit We understand that if you are disabed for an extended period of time, it can be difficut to meet your financia responsibiities. To hep ease your financia situation and ensure that your vauabe cover is maintained, you can purchase this Waiver of Premium Benefit. Under this benefit, we wi waive the premiums on your poicy after you have been disabed for a 6 month waiting period and we wi continue to waive the premiums as ong as you remain disabed, unti the anniversary of your poicy when you are 65 years of age. This benefit is ony avaiabe if you are 59 years of age or under when you appied for the poicy. For the purposes of this benefit, you are disabed if: you suffer an injury or iness, and after consideration of medica and other evidence, we beieve you are unabe to work because of that injury or iness in any occupation for which you are reasonaby suited by education, training or experience. If you were performing norma domestic duties fu-time in your own home at the time of the injury or iness, we wi accept norma domestic duties as the occupation for which you are reasonaby suited. Pease refer to page 6 for our definition of norma domestic duties. We wi not waive any premiums that fa due during the 6 month waiting period, but if we accept your waiver of premium caim, we wi refund any premiums paid during this period. The Automatic Increase Option sti appies whie your premiums are being waived. Event Marriage Birth or adoption of a chid Taking out a mortgage on a home or business of at east $25,000 or increasing an existing mortgage by at east $25,000 An annua saary increase of at east $5,000 Every 5th anniversary of your Recovery Insurance poicy with Asteron Life Proof Copy of marriage certificate Copy of birth or adoption certificate Copy of mortgage and oan documents Paysips or etter from empoyer confirming the saary increase You must have hed the poicy continuousy for at east 5 years You can ony have one increase under this benefit in any 12 month period. 14 of 62 Recovery Insurance

19 Recovery Insurance If disabiity from the same cause recurs within 6 months of the end of the disabement period, we wi waive premiums without the need for you to begin a new waiting period. The Recovery Increase Benefit wi not appy whie your premiums are being waived but wi begin again on the anniversary of your poicy immediatey after the Waiver of Premium Benefit has ceased and you recommence paying premiums. When you recommence paying premiums, the premiums wi be increased/reduced to take into account any changes that woud have occurred if the premiums had not been waived. No premiums wi be waived if disabiity is directy or indirecty caused by intentiona sef-inficted injury. Financia Panning Benefit Where a person is a recipient of a benefit paid to them under this poicy because of the diagnosis of a serious medica condition, undertaking of major surgery, death or tota and permanent disabement of the insured person, we wi reimburse the recipient for the cost of up to $1,500 for accredited financia panning advice that they obtain. Where there is more than one recipient of the benefit each recipient wi be entited to an equa share of the Financia Panning Benefit. We wi not pay an amount more than $1,500 in respect of each poicy. Financia panning advice must be provided by an approved adviser and the Financia Panning Benefit caimed within 12 months of payment of the fu sum insured. The Financia Panning Benefit is not avaiabe if we have ony made a partia payment or a Chid Recovery payment under the poicy. Payment of the Financia Panning Benefit does not reduce the amount of any other benefit payabe under the poicy, and is subject to our norma caim requirements incuding receipt of proof of the cost of the financia panning advice caimed. The Financia Panning Benefit can ony be paid once. Recovery Insurance Medica Definitions Fu Recovery Insurance Benefit Payments We wi pay the fu Recovery Insurance sum insured on the occurrence of any of the serious medica conditions and procedures isted beow. There wi be no cover for the conditions marked with an asterisk (*) if they are first diagnosed or occur within 3 months of the commencement or reinstatement date of the poicy. Where there has been an increase in the sum insured, no payment wi be made for the amount of the increase if you are first diagnosed within 3 months of the commencement or reinstatement date of the increase. We wi pay for any new and unreated occurrence of these conditions or procedures after this 3 month period. If a caim is made in reation to any of the serious medica conditions or procedures, we wi require that an appropriate speciaist provide us with: a) proof of the diagnosis, recommendation or prognosis, and b) copies of the confirmatory investigations performed by the speciaist. Chid 3 appearing next to the name of the condition indicates that insured chidren are aso covered for that condition under the Chid Recovery Benefit. Conditions that are reevant ony to Chid Recovery are isted separatey on page 12. Bindness Chid 3 The tota and permanent oss of sight in both eyes as currenty defined by the Roya Bind Society. Cancer* Chid 3 The presence of one or more maignant tumours, incuding maignant ymphoma, Hodgkin s disease, eukaemia, maignant bone marrow disorders and meanomas greater than or equa to Cark Leve 3 or greater than or equa to 1.5mm depth of invasion as determined by histoogica examination. The tumours must be characterised by the uncontroed growth and spread of maignant ces and the invasion and destruction of norma tissue. The tumour must aso: require treatment by surgery, radiotherapy, chemotherapy, bioogica response modifiers or any other major treatment, or be totay incurabe. The foowing tumours are specificay excuded: tumours which are histoogicay described as pre-maignant or show the maignant changes of carcinoma in situ (carcinoma in situ of the breast is covered if the entire breast is removed specificay to arrest the spread of maignancy and this procedure is the appropriate and necessary treatment), and meanomas which are both ess than Cark Leve 3 and ess than 1.5mm depth of invasion as determined by histoogica examination, and a other types of skin cancers, and prostatic cancers which are histoogicay described as TNM cassifications T1 or are of another equivaent or esser cassification. * 3 month excusion appies Cardiomyopathy Chid 3 The impaired ventricuar function of variabe aetioogy, resuting in permanent and irreversibe physica impairment to the degree of at east Cass 4 of the New York Heart Association cassification of cardiac impairment. Cardiomyopathy as a resut of acoho or drug abuse is excuded. Recovery Insurance 15 of 62

20 Chronic Kidney (Rena) Faiure Chid 3 End stage rena faiure presenting as chronic irreversibe faiure of the function of both kidneys as a resut of which reguar rena diaysis is instituted. Coma A state of unconsciousness in which the insured person is incapabe of sensing or responding to externa stimui or interna need, resuting in a documented Gasgow Coma Scae of 6 or ess, for a continuous period of at east 72 hours. Coma as a resut of acoho or drug abuse is specificay excuded. Coronary Artery Angiopasty - Tripe Vesse* Undergoing angiopasty (with or without atherectomy, aser therapy or the insertion of a stent) to 3 or more coronary arteries within the same procedure. Angiographic evidence, indicating at east 50% obstruction of 3 or more coronary arteries, is required to confirm the need for this procedure. * 3 month excusion appies Coronary Artery Surgery* Surgery to treat coronary artery disease but not incuding angiopasty, intra-arteria procedures or other non-surgica techniques. * 3 month excusion appies Deafness Chid 3 The tota and permanent oss of hearing, both natura and assisted, from both ears as a resut of disease, injury or iness. Dementia The diagnosis of Azheimer s disease or other dementia confirmed as permanent irreversibe faiure of brain function and resuting in significant cognitive impairment. Significant cognitive impairment is a deterioration or oss of inteectua capacity that requires the insured person to be under continuous care and supervision by someone ese. Significant cognitive impairment as a resut of acoho or drug abuse is excuded. Heart Attack* Death of a portion of the heart musce as a resut of inadequate bood suppy to the reevant area. The basis for diagnosis of a heart attack wi incude either: confirmatory new Eectrocardiogram (ECG) changes and eevation of cardiac enzymes CK-MB above standard aboratory eves of norma, or eves of Troponin I greater than 2.0ug/, or Troponin T greater than 0.6ug/, or their equivaent, and a eft ventricuar ejection fraction of ess than 50%. * 3 month excusion appies Heart Surgery (open)* Undergoing open heart surgery for treatment of a cardiac defect, cardiac aneurysm or benign cardiac tumour. * 3 month excusion appies HIV - Medicay Acquired Medicay acquired HIV is the accidenta infection with Human Immunodeficiency Virus (HIV) which we beieve, on the baance of probabiities, arose from one of the foowing medicay necessary events which must have occurred to the insured person in Austraia by a recognised and registered heath professiona: a bood transfusion, transfusion with bood products, organ transpant to the insured person, assisted reproductive techniques, a medica procedure or operation performed by a doctor. Notification and proof of the incident wi be required via a statement from a Statutory Heath Authority that the infection is medicay acquired. HIV infection transmitted by any other means other than occupationay acquired as defined beow, incuding sexua activity or recreationa intravenous drug use is specificay excuded. This benefit wi not appy where a cure for HIV or Acquired Immune Deficiency Syndrome (AIDS) has become avaiabe prior to the medica procedure. HIV - Occupationay Acquired Infection with the Human Immunodeficiency Virus (HIV) where the HIV was acquired as a resut of: an accident arising out of your norma occupation, or a maicious act of another person or persons arising out of your norma occupation, and sero-conversion to HIV infection occurs within 6 months of the accident or maicious act. Any incident giving rise to a potentia caim must: be reported to the reevant authority or empoyer within 7 days of the incident, and be reported to us with proof of the incident within 7 days of the incident, and be supported by a negative HIV Antibody Test taken within 7 days of the incident and we must be given access to test independenty any bood sampes used. HIV infection transmitted by any other means other than medicay acquired as defined above, incuding sexua activity or recreationa intravenous drug use is specificay excuded. This benefit wi not appy where a cure for HIV or Acquired Immune Deficiency Syndrome (AIDS) has become avaiabe prior to the accident or maicious act. 16 of 62 Recovery Insurance