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Life Insurance Australia Choice

  • melisaknorr11
  • Nov 18, 2023

Life Insurance Australia Choice – No two lives are the same. That’s why life insurance is right for you. Whether it’s flexible policies that suit every stage of life or discounts to reward a healthy lifestyle, we’re here to keep you covered throughout life’s journey.

Life insurance provides significant financial protection to your family and dependents in the event of your death or diagnosis of a critical illness with a lump sum payment.

Life Insurance Australia Choice

Life Insurance Australia Choice

With access to the funds they need, your loved ones can cover their long-term expenses, including rent, mortgage, education, medical and grocery bills, giving you financial peace during a very difficult, emotional and stressful time.

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Life insurance is designed to be flexible to meet the needs of you and your family as you move through important life events such as marriage, birth of children and home purchase. It can include discounts if you’re healthy and a range of benefit options to ensure you’re covered no matter what life throws at you.

Introducing our Health Sense Discount. It gives you up to 15% discount on your life, TPD or critical illness policy.

A lump sum payment will be made to your nominated beneficiary or policy owner in the event of your death while having life insurance cover under an existing accelerated protection policy.

The benefit amount is paid when the life assured is diagnosed as terminally ill. On payment of Terminal Illness Benefit, we will cancel any affiliated or linked plan.

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The advance payment benefit is an advance payment of 10% of benefit assumption, up to a maximum of $25,000. This benefit will be paid when the death certificate or medical certificate confirming the death of the life insured is provided.

During the first three years from the date of commencement of the plan, the advance payment benefit will be provided only if the death of the insured is due to an accident. After the first three years, the advance payment benefit is applicable for all causes of death, unless the cause of death is excluded. Payment of Advance Payment Benefit does not assume or assume any claim or liability in respect of present or future payments under the Life Insurance.

If we pay an advance payment benefit and our assessment of the claim determines that the death benefit will not be awarded because of a breach of the duty to disclose or misrepresent, we are required to repay the advance payment benefit. If advance payment benefit is given, it will reduce the benefit amount by the amount paid under advance payment benefit.

Life Insurance Australia Choice

If the Life Assured dies outside Australia, we will increase the maximum amount payable under the Advance Payment Benefit by 10% of the benefit amount up to a maximum of $35,000.

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This benefit will be paid when we are provided with a death certificate or medical certificate certified by a doctor confirming the death of the insured outside Australia. All other terms and conditions of Advance Payment Benefit are applicable to Reversion Benefit.

It automatically increases the policy anniversary benefit amount by 5% and the inflation factor helps keep pace with inflation. The increased coverage affects your premium, so you have the option of removing this benefit.

Reimbursement of up to $250 per day for accommodation expenses of an immediate family member, for up to 14 days, when they must travel more than 100 km to be with you. To be eligible, you must be bed-confined more than 100 kilometers from your usual place of residence and provided with Terminal Illness Benefit, 100% TPD Insurance Cover or 100% Critical Illness Cover.

Your premiums will remain the same and the benefit amount will reduce on each policy anniversary. This benefit can be availed only if first class is selected and you are at least 30 years of age.

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Reimbursement of up to $5,000 on fees for professional financial planning advice when we pay 100% of the benefit amount. Your financial plan must be drawn up by a financial advisor within 12 months of the date we submit your application and we must receive proof of the financial plan.

This benefit is available to you or your immediate family member who needs support when we pay 100% of the benefit amount. We reimburse the cost of three Pain Support sessions, up to a maximum of $1,000 for all 3 sessions, with an approved health care provider approved by us, who works reasonably well (the health care provider must be competent, accredited, and properly qualified. ). to provide support).

It provides a benefit of $10,000 if your child (between 2 and 19 years on next birthday) suffers from a Child Critical Illness Event listed under Child Critical Illness Insurance.

Life Insurance Australia Choice

The severity criteria set out for the event in clause 9.3 of the PDS must be met in order for the benefit to accrue. Pre-existing conditions are excluded and certain conditions are excluded or reinstated if they arise or are diagnosed within three months of the policy inception.

Life Insurance Australia

Permanent disability insurance offers options to help you live a better life if you are permanently disabled and can no longer work. Learn more

Critical illness insurance means you have options so you can make the most of life even if you have a critical illness. Learn more

Income protect insurance provides you with income to help you live your life if you have an injury or illness and are unable to work. Learn more

Review your quote and product disclosure statement. Customize your policy by adding extras and adjusting your premiums.

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When you are satisfied, confirm and pay. You will receive an email with all the details – save this in your files. You are now covered!

You can get quotes for up to $1.5 million in life insurance online. Coverage is available for ages 19-74 (next birthday age). Apply online before you turn 61 (or 62 on your next birthday). For higher levels of cover or cover for over 62 years, call us on 131 825 or speak to your financial advisor.

Life insurance provides valuable peace of mind. If you have people depending on you for financial support or debts that your family cannot pay after your death, the right life insurance cover will ensure that your loved ones do not have to bear unnecessary financial stress. Support them. When deciding whether life insurance is right for you, consider your current expenses, such as a mortgage, education or childcare costs. Can your family cover this without your contribution? If the answer is no, life insurance can provide important support.

Life Insurance Australia Choice

To keep the life insurance active, you need to pay the premium on a monthly, quarterly, half-yearly or yearly basis. The level of your premium will depend on a number of factors, including the length of your policy, your personal circumstances when you take out the cover and the level of cover you need. This includes any optional extras you add to your policy.

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Underwriting is the process by which an insurance company evaluates whether to accept a policy for a customer and what terms/prices will be applied to the policy based on the medical and lifestyle information provided by the applicant. This may result in standard premium rates, higher rates, exclusion of certain conditions from coverage, or denial of coverage due to unacceptably high risk.

Sometimes. When we evaluate your policy request, we will let you know if a doctor is needed to help you make an informed decision about your policy. A medical evaluation is more often required if you have a pre-existing condition and is usually to ensure we have the most up-to-date information on how you are doing. Learn more about medical examination for life insurance.

Indexation means that your insurance benefit payment will be increased annually to ensure that it keeps up with the rate of inflation. The official cost of living is determined by the Consumer Price Index, which measures the average price Australians pay for goods and services, including food, clothing and housing. Your life insurance benefit will increase every year by 5% in line with inflation or the Consumer Price Index – whichever is higher. So if the cost of living in Australia increases by 7% according to the Consumer Price Index, your indexed benefit amount will also increase by 7%.

Different types of life insurance offer a range of coverage amounts for different situations. If you take critical illness cover, you will get financial assistance if you suffer from certain serious conditions that require continuous medical care. These include heart attack, stroke and some types of cancer. Long-term treatment can be expensive, so critical illness cover payments can be a valuable way to fund your recovery and rehabilitation, as well as helping your family with their usual expenses. Income protection insurance can also be used to pay medical expenses if you are unable to work due to illness.

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