Life insurance cover
Taking out joint policies
Getting a quote
Purchasing a policy
Making a claim
How much Life Insurance should I take out?
When considering the level of Family Protect cover that's right for you, it's important
that you take into consideration your current financial situation. For example,
how much would it cost to finalise your mortgage, credit card and other loans and
cover your day-to-day living expenses, children's education costs, lost income and
any other expenses.
I already have Life Insurance cover with my superannuation.
Do I need additional life insurance?
It's great that you've started to protect your family's lifestyle. However, you
may find your superannuation cover is not sufficient to cover your circumstances.
When considering the level of Life Insurance cover that's right for you, it's important
to think about how much you would need to cover your mortgage, credit card and other
loans as well as your day-to-day living expenses, children's education, lost income
and other expenses.
Who can apply for cover?
If you're a permanent resident of Australia aged between 18 and 60 years at your
next birthday you can take out this product. Suncorp also has a range of other life
insurance options that can be tailored to your individual circumstances. Call 13
11 55 to discuss your options and ask for 'Life & Super'.
Can my partner and I take out a joint policy?
You and your partner (or another person) can apply for immediate cover on the one
application. For separate policies you will need to apply separately. There is no
additional charge for having separate policies.
What happens if I have a joint policy and a claim is paid out for
one of the people covered?
If your Policy Document Notice shows there are 2 insured persons, and we pay a claim
for one of them, our cover for that insured person stops. Cover for the other insured
person, who has not made a claim, is not affected. The premium will be adjusted
to cover the remaining person only.
What will I need to get a quote?
Buying Family Protect Life Insurance is easier than you think. All you need to do
is complete our online application including a payment authority and you can be
instantly insured with interim cover. It will take you around 5 minutes and no medical
checks are required.
How much cover can I take out?
You have a choice of the following levels of cover for each person insured with
Family Protect:
- $100,000
- $200,000
- $300,000
- $400,000
Will I have to answer any medical questions?
No medical documentation or tests are required. However, you will not be covered
in the event of death or a terminal illness caused directly or indirectly by any
pre-existing medical conditions you have had over the past 5 years prior to the
Policy Commencement Date.
Do I need any other medical tests?
No medical documentation or tests are required at time of application. In the event
of a claim, a check of medical records will be conducted as part of the claims settlement
process.
Do I need to tell you if I have recently given up smoking?
Yes. Non-smoking rates apply once you have not smoked for a continuous period of
12 months or more. If you are currently a smoker and cease smoking permanently just
call us on 13 11 55 weekdays from 8am - 6pm and we can update your details.
Are there any grounds for exclusion?
No benefit will be paid under this policy if death or terminal illness results directly
or indirectly as a result of:
- Pre-existing conditions - the benefit is not payable if death or terminal illness
occurs as a result of any injury, illness, condition, or related symptom which,
in the five-year period prior to the policy commencement date, the insured person
knew about or should have been expected to know about, or had consulted a medical
practitioner about;
- Suicide, attempted suicide or related complications;
- Active participation in any riot, strike, civil commotion, coup, revolution, terrorist
activity or military, naval or airforce action; or
- You are not a permanent resident of Australia on the Policy Commencement Date.
Am I guaranteed cover?
Yes, provided you are within the age range of 18 to 60 at your next birthday and
an Australian resident, you are guaranteed cover.
Is there a cooling off period?
When we send you the Policy Document Notice, you have 21 days from the Policy Commencement
Date to check that this insurance meets your needs. This is the 'cooling off period'.
If you wish, and provided you have not made a claim, you can write to us or tell
us you want to cancel your policy during the cooling off period. We will then refund
in full any money you have paid.
How do I pay for the policy?
Your policy premium is paid monthly via direct debit from a bank account or by credit
card.
Will my premium or cover amounts change over time?
Yes, we will automatically increase the Sum Insured in line with increases in the
Consumer Price Index. We will then recalculate your premium each year to reflect
this increase in cover and your change in age.
Can payments be made from more than one account?
For joint applications, the total monthly premium will be deducted from one account.
If you wish to pay for each person separately from different accounts, you will
need to complete two separate applications.
When will payments be deducted from my account?
A confirmation letter will be forwarded to you within 5 days of your application
confirming your deduction date and the premium amount. The following timings apply
depending on financial institution and payment method:
- Suncorp bank account - 10 days after Policy Commencement Date
- Non Suncorp bank account - On the 24th of the month
- Building Society / Credit Union - 1st or 16th of the month (dependent on date of
application)
- Credit Card (all financial institutions) - 4 days after Policy Commencement Date
Do I receive a discount if I have multiple Suncorp products?
You will receive a 10% discount on your Family Protect Premium if you hold 3 or
more Suncorp products (excluding Family Protect). A "product" includes any Suncorp
Insurance policy: Car, Home, Contents (counted as a separate product to Home Insurance),
CTP, Boat, Life, Trauma and Income Protection. It also refers to Personal Banking
accounts, Credit Cards, Loans, Personal Superannuation & Investment products.
Am I covered immediately?
You will be covered as soon as your application is completed. We will mail you a
confirmation letter (Policy Document Notice) within five working days of your application
being completed.
Will I receive a refund if I cancel the Policy?
If you cancel your cover within the 21 day cooling-off period you will receive a
full refund of any premiums paid. However, if you cancel your Policy outside of
the cooling off period, no refund will be provided.
How do I make a claim
We want to make the claims process as easy as possible, and will endeavour to pay
all valid claims as soon as possible after all required documentation has been received
and assessed. A claim can be made by either:
Phone - call 13 11 55 between 8am - 6pm Monday to Friday and ask
for 'Life & Super'
Post - Suncorp Life & Superannuation (LS004)
GPO Box 1453
Brisbane QLD 4001
We will then send a claim form that needs to be completed and returned to us.
What's the process for paying a claim?
After notifying Suncorp that the insured person has died or is diagnosed as terminally
ill we will send a claim form that needs to be completed and returned to us. In
addition to the claim form we also require the following information:
- proof of age of the Insured Person;
- the Policy Document Notice and Policy Disclosure Statement;
- either completion of a medical information release form or medical evidence from
a specialist Medical Practitioner with supporting medical evidence that the Insured
Person has a life expectancy of less than 12 months;
- a death certificate of the Insured Person (Death only);
- Probate or Letters of Administration of the Insured Person's Will (Death only);
- a Certified Copy of the Will (Death only).
Depending upon individual circumstances, additional information may be required
by SLSL.
Please read the Product
Disclosure Statement before making any decision concerning this product
(PDF, 221k).
Various products and services are provided by different entities of the Suncorp
Group. The different entities of the Suncorp Group are not responsible for or liable
in respect of products or services provided by other entities of the Suncorp Group.
Family Protect Life Insurance is provided by Suncorp Life & Superannuation Ltd ABN
87 073 979 530 (SLSL). SLSL is a member of the Suncorp Group and may provide services
and use services provided by related companies. As a result SLSL and those related
companies may receive fees or charges, details of which are set out in the relevant
Product Disclosure Statement and SLSL's Financial Services Guide ("FSG"). Any advice
contained in this material has been provided by representatives of SLSL without
taking into account your particular objectives, financial situation or needs. For
that reason, before acting on the advice you should consider the appropriateness
of the advice having regard to your own objectives, financial situation and needs.
