Income Protection for Employees

Benefits are only payable for an injury which occurs whilst the employee is insured by WageGuard.

At the expiry of the waiting period, benefit payments are paid 14 days in arrears.

Benefits are reduced by statutory income payments such as workers compensation and other income as detailed on page 8 of the PDS. Benefits are also reduced where the insured person is partially disabled and returns to work in a reduced capacity. Examples of benefit calculations are shown on page 14 of the PDS. Complete definitions can be found on page 15 of the PDS.

Provides a fortnightly income benefit if the Insured Person has been Totally or Partially Disabled due to Sickness and remains Totally or Partially Disabled after the nominated Waiting Period.

Benefits are only payable for a Sickness which the Insured Person first becomes aware of while covered by WageGuard or during a period of Previous Cover as agreed by Us (see page 13 for an explanation of Previous Cover).

At the expiry of the Waiting Period benefit payments are paid 14 days in arrears.

Benefits are reduced by statutory income payments such as workers compensation and other income as detailed on page 8 of the PDS. Benefits are also reduced where the Insured Person is Partially Disabled and returns to work in a reduced capacity.

Examples of benefit calculations are shown on page 14 of the PDS. Complete definitions can be found on page 15 of the PDS.

Provides a payment to contribute to funeral costs if an Insured Person who is in receipt of a Total or Partial Disability benefit dies. The payment is equal to one week’s Total Disability benefit.

Provides a weekly benefit of up to $200 per week for up to 20 weeks if an Insured Person’s Spouse who performs Homemaker Duties and is not in receipt of any income, suffers an Injury or Sickness lasting for 24 consecutive hours or more. Homemaker assistance is defined on page 15 of the PDS. This benefit is only payable once while the Insured Person is covered under the Policy.

Provides up to $20,000 benefit in respect of insured employees who are in receipt of a total or partial disability benefit, for professional assistance to improve their physical and/or emotional condition. This benefit and the amount payable are at AIA's absolute discretion.

Provides up to $20,000 benefit in respect of Insured Persons who are in receipt of a Total or Partial Disability benefit, for professional assistance to improve their physical and/or emotional condition. This benefit and the amount payable are at AIA's absolute discretion.

Cover for an Insured Person continues for a period of up to 30 days from the date the Insured Person ceases employment with his or her Participating Employer provided the Insured Person has written evidence they accepted a position with another employer prior to ceasing employment. Cover ceases on the earlier of the commencement of the new employment or 30 days.

Provides a Total Disability or Partial Disability benefit where the relevant Sickness is a Mental Illness. Where an Insured Person makes a claim in relation to a Mental Illness, for beneift payments to continue after the first three (3) months of the Benefit Period, the Insured Person must:
a. continue to be Totally or Partially Disabled;
b. have been diagnosed with a Mental Illness as defined by DSM 5 (or subsequent iterations) (excluding those directly or indirectly related to alcohol and/or drug use) by a Medical Practitioner;
c. contiue to follow the reasonable and appropriate advice for treatment that represents best practice, recommended by a Medical Practitioner in relation to the Mental Illness that is the subject of the claim, in accordance with the most recent evidence-based guidelines.

The Mental Health benefit is only payable where the Insured Person's Mental Illness is a New Mental Health event.

This benefit is optional, and available at an additional cost.