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lifeinsurance

Life Cover

Life Cover provides a lump sum payment if the insured person dies or is diagnosed with a terminal illness.

overview

Overview

Minimum entry age

18
Maximum entry age

75

60 for disability premium waiver option
Benefit expiry age

Plan anniversary after the insured person turns 99
Minimum sum insured that can be applied for

$50,000
Maximum sum insured that can be applied for

$15,000,000
Premium type

Variable age-stepped premium
Funding options

Life Cover is available both inside and outside of super
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Included benefits

Life Cover provides a comprehensive range of included benefits and optional benefits that canbe added to your plan at an extra cost. These are listed below.

If Life Cover is purchased inside super, then only the benefits marked with an * are available. If cover is purchased outside super, then all benefits are available.

All Life Cover benefits and features are subject to the full terms and conditions outlined within the Futura Protection PDS.

Death benefit*

Provides a one-off, lump sum payment, if the insured person dies.

Terminal illness benefit*

Provides a lump sum payment if the insured person is diagnosed with a terminal illness.

Funeral advancement benefit

Advances 10% of the Death Benefit up to a maximum of$25,000, to help with immediate costs such as a funeral.

Indexation Benefit*

Automatically increases the sum insured on each plan anniversary by the higher of 5% or the percentage increase in the Consumer Price Index (CPI), ensuring cover keeps pace with the cost of living.

Accommodation Benefit

Reimburses an immediate family member’s accommodation costs up to $250 per day if the insured person is confined to bed and a family member has travelled to be with them.

Suspending Cover Benefit*

Suspends cover for up to 12 months if the plan owner (or insured person where applicable) is experiencing financial hardship.

Future Increase Benefit*

Allows the sum insured to be increased after certain specified events without having to provide further evidence of the insured person’s health, occupation and pastimes.

Financial Advice Benefit*

Reimburses up to $5,000 for the cost of a financial plan from a qualified financial adviser if we’ve paid the full Life Cover.

Waiver of Premium While Involuntarily Unemployed Benefit*

Waives premiums for up to three months over the life of the plan if the plan owner (or insured person where applicable) becomes involuntarily unemployed.

Grief Support Benefit

Reimburses the insured person or their immediate family member up to $1,000 for the cost of grief counselling from an accredited counsellor if we’ve paid the full Life Cover.

Child’s Critical Illness Benefit

Provides a lump sum payment of $10,000, if a child who is financially dependent on the insured person dies, is diagnosed with a terminal illness or suffers a specified critical illness event.
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Optional benefits

In addition to the included benefits, a Disability Premium Waiver Option* can be added to Life Cover for an additional cost. See the Futura Protection PDS for details.