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Superior Life Insurance Cover
Our Superior Life Insurance offers you comprehensive life insurance cover to help protect your family’s future and give you peace of mind, knowing your loved ones will be taken care of financially if you die suddenly or suffer from a Terminal Illness.
With our Superior Life, you can apply for a Life Insurance lump sum benefit between $100,000 and $1,500,000* to help your family or other loved ones cope with the financial impact of your death or Terminal Illness. This money can be used for anything from paying off a mortgage to covering medical expenses.
Plus, with Superior Life you have the option to apply for additional cover for Trauma and/or Total and Permanent Disability (TPD), for even greater protection and peace of mind.
You can apply for our Trauma Cover up to $500,000* to assist with your additional medical costs for specified trauma events such as Cancer or Heart Attack.
You can apply for our Total and Permanent Disability (TPD) up to $1,500,000* to secure your family’s financial future and safeguard your existing lifestyle in the event that you are total and permanently disabled.
(*Maximum cover depends on your age at the Policy Commencement Date)
When is the benefit payable?
Your life insurance lump sum payment from your Superior Life Insurance Policy is paid when you die and whilst a claim is being assessed we will advance $10,000 of the Life Insurance Benefit Amount to assist with the costs associated with funeral and other final expenses.
In the event of your diagnosis with a Terminal Illness, while your Policy is in force, we will pay you 100% of the Life Insurance benefit as a lump sum, to assist you financially during this difficult time.
Our optional covers of TPD and/or Trauma payments are made as per your pre-agreed policy wording.
Who can have this cover?
Australian residents aged 18-64 years can apply for Superior Life Insurance Cover. As long as your premiums are paid it continues for your life regardless of your age.
For our Total and Permanent Disability and Trauma cover you must be 59 or under and cover continues up to the Policy Anniversary following your 65th birthday.
10 reasons to choose this cover
- 1 From $100,000 up to $1,500,000 Life Insurance cover to help protect your family’s financial future in the event of tragedy.
- 2 Easy to apply online, with absolutely no medical or blood tests, in just a few simple steps.
- 3 Terminal Illness Benefit with payment of 100% of your Life Insurance benefit so that you can manage your financial affairs when things are at their toughest.
- 4 Advance Funeral Benefit payment of $10,000, paid from your Life Insurance benefit, to assist with the immediate costs of a funeral.
- 5 Option to apply for up to $1,500,000 Total and Permanent Disability cover to help support your lifestyle needs in the event that you suffer a major event which leaves you Totally and Permanently Disabled.
- 6 Option to apply for up to $500,000 Trauma cover to provide financial support in the event that you suffer a covered serious illness such as Cancer or Heart Attack.
- 7 Worldwide cover, 24 hours a day, 7 days a week so you are always protected.
- 8 Automatic cost of living increases – up to 5% p.a. automatic benefit increase to help your cover retain its future value (age limits apply).
- 9 Flexible premium payments – pay either monthly or annually from the self-managed superannuation fund bank account or credit union account with no additional charges or policy fees.
- 10 Keep your Life Insurance cover for life regardless of any changes to your health, occupation or pastimes.
Summary of Cover
|Product Feature||Life Cover||TPD Cover||Trauma Cover|
|Minimum age at entry||18 yrs||18 yrs||18 yrs|
|Maximum age at entry||64 yrs||59 yrs||59 yrs|
|Benefit expiry date||Policy cancellation||Policy anniversary following your 65th birthday||Policy anniversary following your 65th birthday|
|Minimum sum insured||$100,000||$50,000||$50,000|
|Maximum sum insured at Policy Commencement|
|Age 18 - 44||$1,500,000||$1,500,000||$500,000|
|Age 45 - 54||$1,000,000||$1,000,000||$500,000|
|Age 55 - 59||$750,000||$750,000||$500,000|
|Age 60 - 64||$500,000||N/A||N/A|
|Inflation protection (automatic unless you opt to decline the increase)||5% p.a. each Policy Anniversary up to age 70||5% p.a. each Policy Anniversary up to age 64||5% p.a. each Policy Anniversary up to age 64|
|Built in benefits||Terminal Illness Benefit - an advance payment of 100% of your life insurance benefit.|
Advance payment of $10,000 to assist with funeral and other final expenses.