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Disability Income Plan


The Disability Income Plan (Agreed Value or Indemnity) offers the policy owner a choice between Agreed Value or Indemnity. Both provide income benefits in the event of the disablement of the insured through injury or sickness.

At a glance:

  • Monthly income upon total or partial disablement
  • Death
  • Rehabilitation expenses
  • Waiver of premium
  • Recurrent disablement
  • AIDS cover
  • Benefit Indexation

This benefit provides:

  • Optional benefits - Claims Escalation, PLUS Optional, Business Expenses Insurance and Home Expenses
  • A proportion of the monthly income upon partial disablement
  • A proportion of the monthly income upon partial disablement
  • Initial cover up to 75% of the life insured's income
  • AIDS cover
  • A choice of 3 benefits periods - 2 years, 5 years and To Age 65 (To Age 65 not available to occupation category D)
  • A choice of 6 waiting periods - 14, 30, 60, 90 days, 1 year and 2 years (14 day period not available to occupation category D)
  • A choice of stepped or level premiums
  • Premium discounts for a monthly benefit of $3,000 or greater

Entry Age - 16 years to 60 years next birthday (occupation category AAA, AA, A and B) or 16 years to 55 years next birthday (occupation category C and D)

Expiry Date - Premiums and cover cease at the latest policy anniversary prior to the life insured's 65th birthday

Maximum sum insured - One twelfth of the maximum annual benefit based on the annual income of the life insured; 75% of first $250,000 plus, 50% of the balance of income over $250,000. These figures apply to the total sums insured with us and other insurers.

Minimum Premium - $250 per annum per policy including the premium for all benefits chosen, the policy fee, any premium frequency charge and any stamp duty.

Important Note: This is a general representation of the product and is to be used as a guide only. For more detailed information on the product and for specific definitions and categories please refer to the product PDS.

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