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LifeProtect Insurance
LifeProtect Insurance Brochure
Dated: 1 July 2010
Issued by Avanteos Investments
Limited (Trustee)
ABN 20 096 259 979
AFS Licence No. 245531
Locked Bag 3460
GPO Melbourne VIC 3001
Phone 1800 113 116
Important information
This brochure is issued by Avanteos Investments Limited (ABN 20 096 259 979 AFSL 245531), the Trustee. The Trustee holds an RSE Licence
issued by the Australian Prudential Regulation Authority (APRA) (RSE Licence L0002691).
The Trustee is the trustee of the Avanteos Superannuation Trust (AST) (ABN 38 876 896 681, RSE Registration R1056594), the Symetry Personal
Retirement Fund (SPRF) (ABN 24 685 968 122, RSE Registration R1056600), and the encircle Superannuation Fund (ESF) (ABN 68 486 630 403,
RSE Registration R1073331) (superannuation services).
All insured benefits are underwritten by The Colonial Mutual Life Assurance Society Limited (CMLA) (ABN 12 004 021 809, AFSL 235035) trading
as CommInsure (Insurer). CommInsure are also responsible for the administration of the insurance. To the extent that information in this brochure
relates to CMLA or CommInsure, CMLA has consented to the provision of that information.
The Trustee and CMLA are wholly owned subsidiaries of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.
The information in this brochure is general information only and does not take into account your individual objectives, financial situation or needs.
You should read this entire brochure, assess whether the product is appropriate for you and talk to your financial adviser before making a decision.
The Trustee has arranged for members of the superannuation services to receive Life and Group Income Protection insurance in accordance
with the terms and conditions of the underlying policy documents (the Policies). You are able to obtain a copy of the Policies, free of charge, by
contacting your financial adviser or the Trustee.
All references to monetary amounts in this brochure are references to Australian dollars.
While every effort has been made to ensure the information in this brochure is accurate, the superannuation services’ Trust Deeds and the Policies
between the Trustee and the Insurer form the basis of the LifeProtect insurance offering and should be read carefully. The examples and illustrations
provided in this brochure are only intended to demonstrate how certain insurance benefits are calculated. All insurance benefits will be determined
in accordance with the Trust Deed, the relevant Superannuation Law and the relevant conditions contained in the Policies. No insurance benefits
are payable unless the relevant conditions are satisfied. The Trustee will not be liable to pay the amount of any insured benefits that have not been
received from the Insurer.
A glossary is provided on page 4 to explain the key terms that have been bolded throughout this brochure. For full definitions, terms and
conditions you should refer to the Policies. You should seek advice from your financial adviser if you are unsure of any of the definitions or what
they mean for your insurance cover.
In this brochure, ‘you’ and ‘your’ refer to the person to be insured.
Contents
3
Your Insurance Options
4Glossary
6
Applying for insurance cover
8
The costs associated with insurance
10
Making a claim
10
Leaving the Superannuation Service
11
Life insurance
14
Income protection insurance
18
Schedule of medical condition definitions
20
Contact information
1
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2
Your Insurance Options
The Trustee and the Insurer have developed a range of insurance options including life cover, total and permanent disablement (TPD)
cover and income protection cover.
We have called these products LifeProtect.
Reading through this brochure may help you understand what insurance cover is available to you as a member of a superannuation
service, including details of the associated terms and conditions. Please note, there is also important information regarding insured
benefits in the Product Disclosure Statement (PDS) and you should read the PDS in conjunction with this brochure.
LifeProtect benefits and features
Summary
Cover
Life insurance
Pays a lump sum benefit to the Trustee of your Superannuation Service in the event of your death
or terminal illness.
Life & TPD insurance
Pays a lump sum benefit to the Trustee of your Superannuation Service if you become totally
and permanently disabled or in the event of your death or terminal illness.
Income Protection insurance
Pays a monthly benefit to the Trustee of the Superannuation Service for the period of disablement
or until the benefit period has expired.
The Trustee will then make payment to you in accordance with the Trust Deed and the relevant Superannuation Law.
Features of LifeProtect
Life
Life & TPD
Life Insurance Benefit
✓
✓
Terminal Illness Benefit
✓
✓
Income Protection
Insurance Benefits
Buy Back Benefit
✓
TPD Benefit
✓
Income Protection
✓
Security and Flexibility
Indexation to the Consumer Price Index (CPI)
✓
✓
✓
Interim Accident Cover
✓
✓
✓
Life
Life & TPD
Income Protection
Entry age
18 to 69
18 to 64
18 to 64
Expiry age
75
70
65
Minimum cover
$0.00
$0.00
$0.00
Maximum cover
No maximum, subject to financial
justification. Terminal Illness limited
to $2 million
$3 million
$30,000 per month (2 year benefit
period) or $25,000 for benefit
periods of greater than 2 years.
Minimum hours requirement
n/a
n/a
Greater than 15 hours per week
Eligibility
Cover limits
3
Glossary
Important terms used in the brochure
Phrase
Meaning
At work
Means you are actively performing all the duties and work hours of your own occupation free of any
limitation due to sickness or injury and you are not entitled to or receiving income support benefits from
any source including workers’ compensation benefits, statutory transport accident benefits and disability
income benefits.
Active employment
You are in active employment if you are:
(a) employed (including being on fully paid leave which is caused by sickness or injury) to carry out
identifiable duties
(b) actually performing those duties, and
(c) in the opinion of the Insurer, not restricted by sickness or injury from being capable of performing those
duties on a full time basis (i.e. at least 30 hours per week) and the duties of your own occupation on
a full time basis (even if not then working on a full time basis, which is at least 30 hours per week).
OR [for Life and TPD cover only]
(d) not employed for reasons other than sickness or injury, and in the opinion of the insurer you are not
restricted by sickness or injury from being capable of performing the duties of your own occupation
on a full time basis (even if you are not then working on a full time basis).
Benefit Period for
Income Protection
There are two Benefit Payment Period options for income protection. These are two years after the waiting
period, or to age 65.
Continued Cover
The continuation of cover after termination of the Income Protection policy, but only for disability arising from
a sickness or an injury that is the reason you were not at work on the last working day immediately before
the termination of the Policy.
Cover Expiry Age
The earlier of your death or the first day of the month in which you can attain age 65 for income protection,
70 for total and permanent disability and 75 for life insurance.
Employee
An employee includes a person who satisfies both of the following paragraphs (a) and (b):
(a) the person is an employee under the expanded meaning of that term in section 12(3) of the
Superannuation Guarantee (Administration) Act 1992 (Cth) (the ‘SG Act’), and
(b) the person is a person for whom the employer is required to pay superannuation contributions to avoid
or reduce the superannuation charge payable pursuant to the SG Act.
In interpreting the conditions of this policy the employer is regarded as:
•• the employer of, and
•• being in an employer/employee relationship with the person.
Income Producing Duties
4
The duties of your own occupation (see below) that generate 20% or more of your pre‑disability income
(see below). How you perform your own occupation will be taken into account when determining the
income producing duties.
Phrase
Meaning
Income
1. If you are employed on a casual basis, work as an independent contractor, or earn an income from
a business you directly own part of or all of, income means the remuneration earned by you from all
regular occupations.
2. Where you directly own all or part of the business in which you perform a regular occupation, your
income is the total amount earned by that business for the relevant period as a direct result of your
personal exertion, less your share of business expenses, but before the deduction of income tax,
for that business for the same period.
3. If you do not fall within paragraph 1, income means the regular annual remuneration expected to be
earned by you from permanent employment in all regular occupations including:
(a) the value of a fringe benefit which:
(i)
you receive from your employer by way of salary sacrifice, and
(ii) you would benefit from for at least 6 months after the date on which the salary, which you
sacrificed for the fringe benefit, would have first become payable by your employer, and
(b) performance related annual bonuses and commissions (averaged over the lesser of the preceding
3 years and the period for which you have been in receipt of such bonuses or commissions).
Limited Cover
Cover only for disability arising from:
•• a sickness which first became apparent, or
•• an injury which first occurred
on or after the date you last commenced, recommenced or increased your cover in the
Superannuation Service.
Monthly Benefit
The lesser of:
•• 75% of income (refer above) divided by 12, or
•• 75% of pre-disability income (refer below)
subject to a maximum of $30,000 per month if your benefit period is for 2 years, or $25,000 if your benefit
period is until you reach age 65.
Own Occupation
The normal occupation or work that you carried out immediately before becoming disabled. You will need
to be working in this occupation on a full time basis to be able to qualify for the ‘own occupation’ definition
of TPD.
Superannuation Service
Represents a superannuation service, which forms part of the Avanteos Superannuation Trust,
the Symetry Personal Retirement Fund or the encircle Superannuation Fund.
Pre-disability Income
The total monthly value of your income from your own occupation averaged over the most recent
12 months immediately prior to you becoming disabled. If you have been employed for less than 12 months
prior to becoming disabled, then the total monthly value of income will be averaged over the period since
you last commenced employment but subject to a minimum averaging period of 6 months.
Waiting Period
The period of time you have to be Totally or Partially Disabled before you can qualify for any Disability Benefits,
however, you must be totally disabled for at least 14 out of the first 19 consecutive days. You will need to
choose a waiting period of either 30, 60 or 90 days and your choice will affect the amount of premium
you pay (please see page 8 for further information). The waiting period starts on the date that a medical
practitioner certifies that you are disabled.
5
Applying for insurance cover
How do I apply for insurance cover?
If you are a member of a superannuation service and are
within the eligible age range and a permanent resident of
Australia, you can apply for insurance cover by contacting your
financial adviser. Depending on the level of cover you wish to
apply for you may be requested to provide health evidence, and
may also be requested to provide financial evidence if the cover
you have elected is above a certain limit.
Your financial adviser will be able to best assist you in
determining the level of cover you require and the types
of insurance you are able to take out.
Life and/or life and TPD cover up to a maximum of $800,000
and/or income protection cover up to $6,000 per month can
be applied for by completing a short form questionnaire, which
contains limited eligibility questions. Should you require insurance
cover in excess of $800,000 and/or $6,000 income protection,
a full personal statement is required. Both forms contain
questions to ascertain details that the Insurer requires for record
keeping and premium calculation. The Insurer may require you
to provide further medical evidence to assist them to assess your
application. The evidence requested from you will depend on
answers you have provided on the personal statements including
details of any hazardous activities and pastimes.
New members of a superannuation service are able to apply
for insurance cover up to a maximum of $400,000 for life and/or
life and TPD at the time of establishing their superannuation
account by completing a limited number of eligibility questions.
If completed online, the insurance application will be underwritten
immediately after answering the required questions. Standard
identification questions will apply.
The offer of $400,000 cover is only available within 30 days
of commencing with a superannuation service.
Application forms may be obtained through your financial adviser
or the Trustee.
Your duty, however, does not require disclosure of a matter:
•• that diminishes the risk to be undertaken by the Insurer
•• that is of common knowledge
•• that your Insurer knows or, in the ordinary course
of its business ought to know, or
•• as to which compliance with your duty is waived
by the Insurer.
Non-disclosure
If you fail to comply with your duty of disclosure and the Insurer
would not have covered you on any terms if the failure had not
occurred, the Insurer may void the cover within three years of
issuing it. If your non-disclosure is fraudulent, the Insurer may
void your cover at any time. An Insurer who is entitled to void
your cover may, within three years of issuing it, elect not to
void it but to reduce the sum that you have been insured for in
accordance with a formula that takes into account the premium
that would have been payable if you had disclosed all relevant
matters to the Insurer.
Am I eligible for interim accident cover?
While the Insurer is assessing your application, you will receive
interim accident cover for the cover level you have applied for,
up to the maximum levels specified below.
For example, if you are applying for life and TPD cover of
$800,000 and income protection cover of $6,000 per month
and you become disabled as a result of an accident you will be
eligible to claim for these amounts. The insurance benefit is only
payable if you die, or become disabled within 120 days of being
involved in an accident. The maximum amount of the benefit that
will be paid as a result of an accident is $1,000,000 for life or TPD
and $15,000 per month for two years for income protection.
Interim accident cover will continue until the earliest of:
(a) the date you withdraw your request for insurance cover
or additional insurance cover
What is my ‘duty of disclosure’?
(b) the date the Insurer accepts the request for cover or
additional insurance cover on standard or special terms
Before you enter into or become insured under a contract of life
insurance with an insurer, you have a duty under the Insurance
Contracts Act 1984, to disclose to the Insurer every matter that
you know, or could reasonably be expected to know, is relevant
to the insurer’s decision whether to accept the risk of the
insurance and, if so, on what terms.
(c) the date the Insurer rejects your request for the insurance
cover or additional insurance cover
You have the same duty to disclose those matters to the insurer
before you extend, vary or reinstate life insurance.
6
(d) the date on which a benefit becomes payable
(e) the date the Insurer cancels the interim accident cover, or
(f) 120 days from the date you applied for insurance cover
or additional insurance cover.
Interim accident cover is subject to the same exclusions,
limitations and restrictions that apply for life and TPD cover under
the policy.
For interim accident cover applying to income protection,
the waiting period you will receive, will be the waiting period
you are applying for. Monthly benefits will continue until the
earliest of:
How is my information handled?
(a) you are no longer totally disabled
The privacy of your personal information is important to
the Trustee.
(c) you reach age 65
Details of the Trustee’s Privacy Policy can be found in the PDS.
In addition, a copy of the Trustee’s Privacy Policy is available by
contacting the Trustee or your financial adviser.
(d) you die.
You can contact the Trustee’s Privacy Officer:
Interim accident cover is subject to the same exclusions,
limitations, restrictions and claim procedures as apply to
you as an insured member under the Policies.
Privacy Officer
Avanteos Investments Limited
Locked Bag 3460
GPO Melbourne VIC 3001
Ph: 1800 113 116
Fax: (03) 9804 0398
Email: privacyofficer@colonialfirststate.com.au
(b) two years
If you are entitled to make a claim your application for cover
is automatically cancelled. In addition, the Insurer will require
payment of the premium for the period from the date you
requested cover to the date of the accident.
When does my cover start?
You will be advised of the start date for your cover in writing.
This will be when the Insurer has accepted the health evidence
you have provided and you have commenced your membership of
the superannuation service. You must be in active employment
when your cover starts, or you will receive limited cover until you
are in active employment for 2 consecutive months.
How do I transfer my existing
insurance cover?
If you have existing insurance cover outside of the superannuation
service in another superannuation fund or a retail policy, you can
apply to transfer this cover over to LifeProtect. In order to affect
this transfer you must also cancel your previous cover. For more
details on the terms of this insurance transfer, please request an
insurance transfer form from your financial adviser.
Can I keep my insurance cover
if travelling overseas?
How do I increase my cover?
You may apply to increase your life only or life and TPD cover
at any time, up to the maximum amounts offered, by contacting
your financial adviser. You may need to provide health and
financial evidence to the Insurer who will advise you if and when
this cover is accepted.
How do I reduce or cancel my cover?
You may also reduce your insurance cover at any time by
advising the Insurer or Trustee in writing.
You can also cancel your cover at any time by notifying the
Insurer or Trustee in writing. Once your request has been
received, the insurance premiums you pay will cease from the
end of the month prior to you advising the Insurer or Trustee.
You will continue to be covered for life and TPD cover, at no cost,
for 60 days after you cancel your cover, provided that you are
eligible to exercise a continuation option (see page 10 for
further information).
Worldwide Cover:
Once you have cover you will generally continue to be covered
if you leave Australia. The maximum time that the Insurer will pay
an income protection benefit while a person is outside Australia
is 6 months.
If you place a claim for an insurance benefit while overseas,
you may need to return to Australia at your own expense in order
to complete medical assessment requirements for the Insurer.
7
The costs associated with insurance
Your insurance premium consists of:
•• insurance premium, including stamp duty if applicable
•• insurance charge, if applicable
•• adviser commission.
How do I calculate my premium?
The cost of your insurance cover will also be advised to you in writing at the time your cover is accepted. It will depend on the type
of cover, the level of cover, your age, gender, whether you smoke and what occupational rating you have been accepted for.
The occupational loading differs dependent on your type of occupation classification.
Occupation classifications
Professional
Members hold a tertiary qualification or are a member of an institute or registered Government body and earn
more than $80,000 per annum. They may also be in a management role.
White Collar / Clerical
Members work entirely in an office environment (or at least 80%) with no manual work.
Non Manual Blue
Members roles are primarily non-manual, but may involve some light manual work from time to time.
Light Manual
Members are skilled and semi-skilled trades people who do a moderate amount of manual work.
Heavy Manual
Members are unskilled manual workers, or skilled heavy manual workers.
The premium rates and occupational loadings applicable
to the superannuation service are available from your
financial adviser.
The following examples use sample rates for the purposes
of assisting calculation and are not representative of what
premiums may be applicable to you.
Example 1
Consider a woman with an income of $42,000 at 1 July,
aged 50 on her next birthday. She has selected a 30 day waiting
period and a two year benefit period. She is a non-smoker.
An occupation loading of 100% applies as she is a
clerical employee.
Insurance required
$42,000 x 75% = $31,500
$31,500÷ 12 months = $2,625 monthly benefit
Insurance cost
Insured monthly benefit ÷ $1000 x rate shown in the premium rate
table applicable to the superannuation service.
$2,625 ÷ 1000 x $20.38 = $53.50 is the monthly premium.
Therefore the annual premium is $641.97.
8
Example 2
Consider a woman with an income of $180,000 at 1 July,
aged 35 on her next birthday. She has selected a 90 day waiting
period and an age 65 benefit period. She is a smoker. She is a
professional employee, therefore an occupation loading
of 90% applies.
Insurance required
$180,000 x 75% = $135,000
$135,000 ÷ 12 months = $11,250 monthly benefit
Insurance cost
Insured monthly benefit ÷ $1000 x rate shown in the premium
rate table applicable to the superannuation service x
occupational loading
$11,250 ÷ 1000 x $9.44 x 90% = $95.58 is the monthly premium.
Therefore the annual premium is $1,146.96.
How do I pay premiums?
Premiums are deducted automatically from the available cash
balance in your superannuation account on a monthly basis and
paid in arrears to the Insurer. You need to ensure that there is
enough money available in your account to enable payment to
be made.
What happens if there are insufficient
funds to pay the premium?
Where the Trustee is unable to make your premium payment
you will be notified in writing and requested to top up your
superannuation account, and you will be advised that failure
to do so within the period outlined will result in your insurance
cover lapsing.
Are there any other costs
associated with my insurance?
The Trustee is paid an Insurance Charge to cover administration
costs associated with maintaining your insurance cover through
the superannuation service.
We pay commission and other benefits to our advisers.
These amounts are factored into the cost of the insurance,
and are not additional amounts you have to pay.
Please refer to the PDS for important information regarding
the fees and premiums associated with your insurance cover.
If a premium payment cannot be made to the Insurer due
to insufficient funds for two consecutive months, the Insurer will
write to advise that your insurance cover has lapsed. To reinstate
your insurance cover you will need to reapply and undergo any
applicable underwriting requirements in order to take out new
insurance cover.
Will the premium amount change?
Premiums generally increase as your age increases. Premiums
are calculated on your age next birthday when you take out
insurance cover and will be updated each year on 1 July.
If you have selected to take advantage of CPI on your insured
benefit, your sum insured will also be amended to take advantage
of this increase, up to a maximum increase per annum of 7.5%.
A minimum increase of 3% per annum will be applied each year.
This will also have an effect on your premium amount.
You will be advised of your new premium amount and
the amount of insurance on your superannuation service
annual benefit statement.
Your premium may also change where you apply to increase
or reduce your cover.
Premiums may also change where you advise the Insurer that
you have changed your details, including (but not limited to)
changes to your occupation, smoking status, benefit period etc.
The Insurer may also change the premium rates and we will notify
you as required under Superannuation Law if this occurs.
9
Making a claim
Leaving the
Superannuation Service
How do I make a claim?
Can I continue my insurance cover if
I close my superannuation account?
You should notify the Trustee of any claim as soon as possible
after you become aware of any claim or potential claim.
Before a benefit is paid under the Policies you must:
•• provide the Insurer with satisfactory proof of age, if required
•• complete any relevant claims forms and provide supporting
evidence of the claim
•• provide the Insurer with such medical, income or other
evidence as it requires from time to time (at your expense)
•• undergo any medical or other examination which the Insurer
reasonably requires. (The Insurer will pay medical fees but
will not pay any other costs such as travel expenses), and
•• in the case of income protection cover, comply with any
medical treatment or rehabilitation program that is reasonable.
If an insurance benefit becomes payable the Insurer will pay
the insurance proceeds to the Trustee, who in turn will be
responsible for paying the benefit in accordance with the relevant
Superannuation Law and the Trust Deed.
If you elect to leave the superannuation service, you have the
option within 60 days of closing your superannuation account
to apply for an individual disability income cover without having
to produce evidence of health to the insurer.
The following conditions apply:
•• you must be less than 75 years of age for life cover, 65 years
for total and permanent disablement cover and 60 years for
income protection cover at the time your cover ends under the
Policies held with the Trustee of the superannuation service
•• you were employed on a permanent basis and for at least the
15 hours per week when your cover ended under the Policies
(for income protection cover only)
•• when your cover ended under the Policies, no benefit was,
or was about to be, payable under the Policies and no
circumstances existed which, if the subject of a claim under
the Policies, would have resulted in a benefit being payable
to you under the Policies
•• the premium payable for you was not overdue when your
cover ended under the Policies
•• any exclusions or special conditions applicable to you will
apply to the individual disability income policy issued by
the Insurer
•• the Insurer receives both the request for cover under the new
individual policy and the correct premium for that cover within
60 days of your cover ending
•• you do not join any armed forces (other than the Australian
Armed Forces Reserve) before the date the individual policy
is issued
•• the individual disability income policy will be an indemnity
value policy (which means that you will receive a benefit based
on your income at the time you are disabled, even if it has
decreased since you took the policy out) owned by yourself,
and will be based on the Insurer’s retail product at the time
you leave the superannuation service
•• the benefits provided will be no greater than those provided
under the Policies (including in the case of income protection
cover, the monthly benefit, waiting period,
and benefit period)
•• the Policies with the Trustee of the superannuation service
must be still in-force, and
•• CommInsure’s minimum policy issue requirements are met.
Once you have exercised a continuation option, you will not
be eligible for any future cover under the Policies unless the
Insurer agrees in writing.
10
Life insurance
What types of life cover are available?
Life insurance
Life insurance only or life and total and permanent disablement
(TPD) insurance cover is available.
A benefit payable as a result of life or TPD will be paid in the form
of a lump sum.
LifeProtect enables life insurance cover to be taken out in the
following combinations:
•• Life insurance cover – payable only in the event of terminal
illness or the death of the member
•• Life & TPD cover – payable in the event of either death or total
and permanent disablement of the member.
TPD cover is not offered as a stand alone insurance option and
must be combined with life cover.
All life insurance cover includes cover for terminal illness.
Terminal illness is defined as a member being certified by a
medical practitioner specialising in that illness, that the illness will
(despite reasonable medical treatment) lead to the member’s death
within 12 months of the date of the certification. It is paid from the
member’s life insurance cover to a maximum of $2 million.
Payments made as a result of death, TPD or terminal illness will
be made to the Trustee. In distributing this money the Trustee will
be guided by the relevant Superannuation Law and the underlying
trust deed, and in the event of a death benefit, any nomination of
beneficiaries that you have made.
If my personal situation changes, am I able to increase
my insurance?
If you get married, or become a parent you can apply to increase
your life and TPD insurance cover. The maximum increase
permitted is the lesser of $100,000 or 25% of your current sum
insured. This is without providing any medical evidence and may
help keep your insurance in line with your changing
personal circumstances.
The following conditions apply:
•• you can only exercise this option once in a 12 month period
•• you apply and provide satisfactory evidence within 60 days
of the event occurring, and
•• any increase in your cover is subject to the same exclusions
and other special conditions as apply to your previous level
of cover.
Total and Permanent Disability Insurance
TPD cover is available when combined with life insurance and
can be up to or equal to the amount of life insurance cover
or $3 million, whichever is lesser.
LifeProtect contains a number of TPD definitions to enable easier
access to your benefit in the event that you need to make a
claim. Each of these definitions is described below.
You will be considered totally and permanently disabled if:
Definition 1
You suffer, as a result of sickness or injury:
•• the complete and irrecoverable loss of use of two limbs
•• the complete and irrecoverable loss of use of one foot and
one hand
•• blindness in both eyes, whether aided or unaided, or
•• the complete and irrecoverable loss of use of one limb
and blindness in one eye, whether aided or unaided
where:
•• limb means the whole hand below the wrist or whole foot
below the ankle, and
•• blindness means the permanent loss of sight to the extent that
visual acuity is 6/60 or less, or to the extent that the visual field
is reduced to 20 degrees or less of arc.
OR
Definition 2
You suffer as a result of sickness or injury, the total inability to
perform without the physical assistance of another person any
two of the following ‘activities of daily living’ or all of the ‘defined
home duties’.
Activities of daily living
•• dressing – the ability to put on and take off clothing
•• toileting – the ability to use the toilet, including getting
on and off
•• mobility – the ability to get in and out of bed and on and off
a chair
•• continence – the ability to control bowel and bladder function
•• feeding – the ability to get food from a plate into the mouth
•• bathing – the ability to wash yourself either in the bath or
shower or by sponge bath without the standby assistance
of another person
and you are permanently and irreversibly unable to do so for life.
OR
Defined Home Duties
•• cleaning the usual place of dwelling
•• purchasing household food and items used for cleaning
•• preparing meals for the household
•• performing for the household laundry services such
as washing or ironing.
11
Life insurance
OR
OR
Definition 3
You were, on the date of disablement, aged 65 years or less and:
Definition 4
If you were engaged in full time domestic duties or child rearing
at the time of the sickness or injury, then you will only be
considered totally and permanently disabled if:
(i)
(ii)
are absent from all work as a result of suffering from one or
more of the following conditions: cardiomyopathy, primary
pulmonary hypertension, major head trauma, motor
neurone disease, multiple sclerosis, muscular dystrophy,
paraplegia, quadriplegia, hemiplegia, diplegia, tetraplegia,
dementia and Alzheimer’s disease, Parkinson’s disease,
blindness, loss of speech, loss of hearing, chronic lung
disease or severe rheumatoid arthritis (each as defined
in the Schedule of Medical Conditions on page 18)
the Insurer considers, on the basis of medical and other
evidence satisfactory to them, you are unlikely ever to be
able to engage in any occupation, whether or not for
reward, and
(iii) you are likely to be so disabled for life
where occupation means an occupation that you can perform,
on a full time or part time basis, based on the skills and
knowledge you have acquired through previous education,
training or experience.
OR
(iv) absent from all work as a result of suffering one or more
of the following conditions: cardiomyopathy, primary
pulmonary hypertension, major head trauma, motor
neurone disease, multiple sclerosis, muscular dystrophy,
paraplegia, quadriplegia, hemiplegia, diplegia, tetraplegia,
dementia and Alzheimer’s disease, Parkinson’s disease,
blindness, loss of speech, loss of hearing, chronic lung
disease or severe rheumatoid arthritis (each as defined
in the Schedule of Medical Conditions on page 18)
(v)
the Insurer considers, on the basis of medical and other
evidence satisfactory to them, you are unlikely ever to be
able to engage in your own occupation, whether or not for
reward, and
(vi) you are likely to be so disabled for life
where occupation means gainful occupation that you were
engaging in on a full time basis immediately prior to total and
permanent disablement.
12
(i)
through sickness or injury, you are unable to perform
domestic duties or child rearing and have been confined
to the home for a period of six consecutive months and
you are under the regular treatment, and following the
advice, of a medical practitioner, and continue to be so
incapacitated to the extent that you are unable to engage
in (whether or not for reward) any occupation for which you
are reasonably suited by education, training or experience
and are likely to be so disabled for life
(ii)
you have been unable to perform domestic duties or child
rearing and you are confined to the home as a result of
cardiomyopathy, primary pulmonary hypertension, major
head trauma, motor neurone disease, multiple sclerosis,
muscular dystrophy, paraplegia, quadriplegia, hemiplegia,
diplegia, tetraplegia, dementia and Alzheimer’s disease,
Parkinson’s disease, blindness, loss of speech, loss of
hearing, chronic lung disease, or severe rheumatoid arthritis
(each as defined in the Schedule of Medical Conditions
on page 18) and you are under the regular treatment, and
following the advice, of a medical practitioner, and you
continue to be so incapacitated to the extent that you
are unable to engage in (whether or not for reward) any
occupation for which you are reasonably suited by
education, training or experience and are likely to be
so disabled for life.
OR
Definition 5
One of the following applies:
You:
(any occupation)
(i)
were, on the date of disablement, aged 65 years or less
and employed, and
(ii)
as a result of illness or injury, have been absent from
all work for 6 consecutive months from the date of
disablement and the Insurer considers, on the basis of
medical and other evidence satisfactory to them that you
are unlikely ever to be able to engage in any occupation,
whether or not for reward
where occupation means an occupation that the insured member
can perform, on a full time or part time basis, based on the skills
and knowledge the person has acquired through previous
education, training or experience.
Life buy-back option
Twelve months after the Trustee has been paid a TPD benefit for
you under the Life & TPD insurance policy, you may be able to
take out a continuation option for life only cover. Please contact
your financial adviser for more information.
When does cover cease?
Your cover ends in the superannuation service on the earliest
of the following:
•• the date a benefit is paid for you that reduces your insured
cover to nil
•• the month prior to you reaching the cover expiry age, which is
75 for life cover, and 70 for TPD cover
•• when you leave the superannuation service
•• the end of the month prior to you providing written
confirmation that you wish to cancel your insured cover, or on
another date the Insurer agrees in writing (but you will continue
to be covered under the extended cover provisions for 60
days, see page 7)
•• 2 months after you have insufficient funds in your
superannuation account to pay your insurance premiums
or
You:
(own occupation)
(i)
were, on the date of disablement, aged 65 years or less
and employed, and
(ii)
as a result of illness or injury, have been absent from
all work for 6 consecutive months from the date of
disablement and the Insurer considers, on the basis of
medical and other evidence satisfactory to them that you
are unlikely ever to be able to engage in your own
occupation, whether or not for reward
•• if you die, or
•• if you commence active duty in any armed forces, other than
the Australian Armed Forces Reserves.
where occupation means gainful occupation that the insured
member engages in on a full time basis immediately prior to total
and permanent disablement.
Despite the above, you will not be totally and permanently
disabled under Definition 5 if:
(i)
at any time after you cease employment but prior to the date
of disablement, you are not employed for a period of 6 or
more consecutive months from the termination date of your
last period of employment (‘period of unemployment’), and
(ii)
you do not, after your most recent period of unemployment
but prior to the date of disablement, return to active
employment for 40 consecutive working days.
If your life insurance amount exceeds your TPD insurance
amount and you are successful in lodging a claim for TPD,
the excess life insurance amount will continue in the
superannuation service.
If your life insurance amount exceeds $2 million and you are
successful in lodging a claim for terminal illness, the excess life
insurance amount will continue in the superannuation service.
13
Income protection insurance
What income protection
cover is available?
If you are an employee of an employer on a permanent basis
and are working more than 15 hours per week you are eligible
to apply for income protection cover within your superannuation
service. The cover provided is an indemnity value policy (which
means that you will receive a benefit based on your income at the
time you are disabled, even if it has decreased since you took the
policy out), which allows you to insure 75% of your pre-disability
income. You can also elect at the time of applying for cover to
have your benefit increased, effective 1 July each year, in line
with the Consumer Price Index (CPI), up to a maximum
of 7.5%p.a. If you do not make this election when you first have
the opportunity you may need to provide health evidence at a
later date. Further information about CPI is located on page 9.
There are a number of different types of insurance benefits
payable under income protection cover, these include:
•• Total Disability Benefit
•• Partial Disability Benefit
•• Rehabilitation Expense Benefit
The Insurer will pay a benefit of $3,000 per month provided that
you continue to be totally disabled, after you have waited 90 days
(the waiting period). The period during which the benefit will be
paid depends on the benefit payment period that applies to you.
Partial Disability Benefit
If you are partially disabled after the waiting period has ended,
some of the total disability benefit will be paid, based on the
reduction in your pre-disability income. This is called the partial
disability benefit. This benefit can continue until the end of the
benefit period, provided you continue to be partially disabled,
but not beyond age 65.
Partial disability means that because of sickness or injury, you:
•• have been totally disabled for at least 14 days
•• are unable to work in your own occupation at full capacity
immediately after you became totally disabled because of the
sickness or injury that caused your total disability
•• are working in your own occupation in a reduced capacity,
or working in another occupation
•• are earning a monthly income that is less than your
pre‑disability income, and
•• Recurrent Disability Benefit.
•• are under the regular care of, and following the advice
of, a medical practitioner acceptable to the Insurer.
Each of these insurance benefits is now described in more detail.
If you are partially disabled, the monthly benefit will be reduced.
Total Disability Benefit
The total disability benefit is paid if you are totally disabled for longer
than your elected waiting period. Insurance benefits can continue
until the end of the benefit period you elect, provided you continue
to be totally disabled, but not beyond age 65. The amount of total
disability benefit you will receive is the monthly benefit (see the
Glossary) subject to a maximum of $30,000 per month for benefit
payment period of 2 years, or $25,000 for benefit payment periods
in excess of 2 years.
For example if you suffer a partial disability which results in your
income decreasing from $4,000 to $1,000 per month and your
monthly benefit is $3,000, the Insurer will calculate the partial
disability benefit to which you may be entitled as follows:
Total disability means that because of sickness or injury, you are:
Rehabilitation Expense Benefit
A rehabilitation expense benefit is payable if you are disabled
and you participate in a rehabilitation or vocational retraining
program (that is approved by the Insurer before the expenses are
incurred). The benefit the Insurer will pay reimburses the cost of
the approved rehabilitation program (subject to a maximum of 24
times your monthly benefit). Approved rehabilitation programs
exclude programs providing hospital treatment or ancillary health
benefits (as defined in the National Health Act 1953) as those
laws prevent the Insurer paying a benefit for these programs.
•• unable to perform one or more of the income producing
duties (as defined in the Policy) of your own occupation
•• under the regular care of, and following the advice of, a
registered medical practitioner satisfactory to the Insurer, and
•• not working in any occupation, whether or not for reward.
The total disability benefit the Insurer will pay is the
monthly benefit.
To illustrate, if you become entitled to the total disability benefit
and you have the following cover:
Monthly benefit:$3,000
Waiting period:
14
90 days
$3,000 – ($1,000 ÷ $4,000 x $3,000)
Partial disability benefit
= $3,000 – $750
= $2,250 per month.
For example, if you undergo an approved rehabilitation program
costing $20,000, and you have the following cover:
Monthly benefit: $3,000
Waiting period: 90 days
What is a benefit period?
Insurance benefits are payable after the completion of the waiting
period, while you continue to be disabled. The benefit will cease if
the following occurs:
A maximum rehabilitation benefit of $72,000 (24 x $3,000)
will be paid.
•• you are no longer disabled
The maximum payment period cannot exceed the
benefit period.
•• you turn age 65, or
This benefit is paid in addition to the disability benefit.
•• the benefit payment period ends
•• if you die.
You have the choice of a benefit period of 2 years, or to age 65.
Recurrent Disability Benefit
This means that you won’t have to go through the waiting period
again if you become disabled again from the same, or a related,
cause within six months of the end of payment of a disability
benefit. The recurrence of your disability will be treated as a
continuation of the original claim.
Are there any limitations and
exclusions applicable to the
income protection insurance?
Can the benefit be indexed?
You need to be aware of the following limitations and exclusions,
which may affect the cover provided by this income protection
insurance policy.
If the Insurer is paying a disability benefit and the benefit
payment period exceeds 2 years, at the end of every consecutive
12 month period, the Insurer will increase your monthly benefit
by the percentage increase of the CPI (Weighted Average of 8
Cities Combined Index) up to a maximum of 7.5%. The indexation
of benefit payments is designed to help offset the impact of
inflation. Further information about CPI is located on page 9.
Will I pay premiums while in receipt
of an income protection benefit?
You are not required to pay any premiums which fall due while
a total or partial disability benefit is being paid to you. You must
continue to pay premiums throughout the waiting period.
The Insurer will only pay benefits for one disability at a time.
A benefit will not be paid if a sickness or injury is directly
or indirectly caused by:
•• intentional self-inflicted injury or infection, whether or not you
are sane at the time
•• your service in the armed forces of any country
•• war, or
•• normal and uncomplicated pregnancy or childbirth including
multiple pregnancy, caesarean birth, threatened miscarriage,
participation in in-vitro fertilisation or other medically assisted
fertilisation techniques and normal discomforts of pregnancy
(such as morning sickness, backache, varicose veins, ankle
swelling and bladder problems).
What is the waiting period?
The waiting period is the continuous period of time you have
to be totally or partially disabled before you can qualify for any
monthly benefit.
LifeProtect offers a choice of waiting periods: 30, 60 or 90 days.
You will be charged a different premium depending on the
waiting period you choose.
The waiting period starts from the day a registered medical
practitioner examines you and certifies that you are disabled.
To request a change to your nominated waiting period,
you must first notify the Trustee of the superannuation service
or the Insurer through your financial adviser. If your request is
to reduce your waiting period, for example from 90 days to 30
days, the Insurer will request evidence of your health. The Insurer
may apply an exclusion or other special terms as a condition of
accepting your request. Any change in your waiting period will
be effective from the date you are advised of the
Insurer’s acceptance.
The change to your premium will occur at the end of the month
following your request to vary your waiting period.
15
Income protection insurance
Will the benefit payable be offset?
What continuation options are available?
Your monthly benefit will be reduced if you receive other
disability payments during the same period from:
If you elect to leave your superannuation service, you have the
option within 60 days of closing your superannuation account
to apply for an individual disability income policy without having
to produce evidence of health to the Insurer.
1. any income (other than insurance benefits received under
LifeProtect) or commutation of income, paid as a result of
your sickness or injury, including:
•• any sick leave entitlements
•• any amounts payable under legislation, such as worker’s
compensation or motor accident compensation
•• any insurance benefits payable under any other insurance
policy that provides income benefits upon disability
2. any applicable social security payments
3. any income earned by personal exertion while disabled,
but excluding any income earned from your employer
4. any income which, in the Insurer’s opinion, you could
reasonably be expected to earn in your occupation while
disabled excluding any income actually earned from
your employer.
Any income described in paragraph 1, 2 or 3 which is in the
form of a lump sum or is exchanged for a lump sum will have
a monthly equivilent of 1/60th of the lump sum over a period
of 60 months
In what circumstances will cover cease?
Your cover will cease automatically in the event of one of the
following occurring:
•• your death, or the date that a terminal illness or TPD benefit
becomes payable for the member under the policy
•• you reach age 65
•• the end of the month prior to you advising you want to cancel
cover (but you will continue to be covered under the extended
cover provisions for 60 days, see page 7)
•• 2 months after you have insufficient funds in your
superannuation account to pay your insurance premiums
•• if you commence active duty in any armed forces, other than
the Australian Armed Forces Reserves, or
•• the date the income protection policy terminates.
16
The following conditions apply:
•• you must be less than 60 years of age at the time your cover
ends under the policy
•• you were employed on a permanent basis and for at least
the minimum hours when your cover ended under the policy
•• when your cover ended under the policy, no benefit was,
or was about to be, payable under the policy and no
circumstances existed which, if the subject of a claim under
the policy, would have resulted in a benefit being payable for
you under the policy
•• the premium payable for you was not overdue when your
cover ended under the policy
•• any exclusions or special conditions applicable to you will
apply to the individual disability income policy issued by
the Insurer
•• the Insurer receives both the request for cover under the new
individual policy and the correct premium for that cover within
60 days of your cover ending
•• you do not join any armed forces (other than the Australian
Armed Forces Reserve) before the date the individual policy
is issued
•• the individual disability income policy will be an indemnity
value policy (which means that you will receive a benefit based
on your income at the time you are disabled, even if it has
decreased since you took the policy out) owned by yourself,
and will be based on the Insurer’s retail product at the time
you leave the superannuation service
•• the monthly benefit, waiting period, and benefit period
under the individual disability income policy will be limited
to the amount provided to you under the policy
•• the Policies held with your superannuation service must
be still in-force, and
•• the Insurer’s minimum policy issue requirements are met.
Once you have exercised a continuation option, you will not be
eligible for any future cover under the policy unless the Insurer
agrees in writing.
What if I take a period
of leave without pay?
Cover will continue while you are on leave without pay from your
employer, but your pre-disability income will be affected.
To illustrate, if you become entitled to the total disability benefit
while you have been on leave without pay for 8 months and you
have the following cover:
Monthly benefit:$3,000
Waiting period:
90 days
We will calculate your pre-disability income [(8 x $0) +
(4 x $3,000)] = $12,000. This means your monthly benefit
will be $12,000 ÷ 12 = $1,000, which you will receive until the
benefit ends.
What will occur if my
claim is successful?
For income protection if you are successful in making a claim,
the insurance benefits start the day after the waiting period has
ended. Benefit payments are payable monthly in arrears and are
calculated for the part of the month they are payable.
All initial certificates and evidence (including any medical
evidence) required by the Insurer for the claim will be provided
at your expense.
Insurance benefits will be paid to you as an income payment.
The Trustee will provide you with a group certificate, which you
will need to include as income on your personal tax return.
17
Schedule of medical condition definitions
cardiomyopathy
Condition of impaired ventricular function of variable aetiology (often not determined) resulting in significant
physical impairment, i.e. Class 3 on the New York Heart Association classification of cardiac impairment.
primary pulmonary
hypertension
Primary Pulmonary Hypertension associated with right ventricular enlargement established by cardiac
catheterisation resulting in significant permanent physical impairment to the degree of at least Class 3
of the New York Heart Association classification of cardiac impairment.
major head trauma
Injury to the head resulting in neurological deficit causing either:
•• a permanent loss of at least 25% whole person function (as defined in the American Medical Association
publication ‘Guides to the Evaluation of Permanent Impairment’ 4th Edition or an equivalent guide to the
evaluation of impairment approved by us), or
•• the permanent and irreversible inability to perform without the assistance of another person any one of the
following activities of daily living:
••
••
••
••
••
dressing – the ability to put on and take off clothing
toileting – the ability to use the toilet, including getting on and off
mobility – the ability to get in and out of bed and a chair
continence – the ability to control bowel and bladder function
feeding – the ability to get food from a plate into the mouth
as certified by a consultant neurologist.
motor neurone disease
Motor neurone disease diagnosed by a consultant neurologist.
multiple sclerosis
The unequivocal diagnosis of multiple sclerosis as confirmed by a consultant neurologist and characterised
by demyelination in the brain and spinal cord evidenced by Magnetic Resonance Imaging or other investigations
acceptable to us. There must have been more than one episode of well-defined neurological deficit with
persisting neurological abnormalities.
muscular dystrophy
The unequivocal diagnosis of muscular dystrophy by a consultant neurologist.
paraplegia
The permanent loss of use of both legs or both arms, resulting from spinal cord illness or injury.
quadriplegia
The permanent loss of use of both arms and both legs resulting from spinal cord illness or injury.
hemiplegia
The total loss of function of one side of the body due to illness or injury, where such loss of function
is permanent.
diplegia
The total loss of function of both sides of the body due to illness or injury where such loss of function
is permanent.
tetraplegia
The total and permanent loss of use of both arms and both legs, together with loss of head movement, due to
brain illness or injury or spinal cord illness or injury.
dementia and Alzheimer’s
disease
Clinical diagnosis of dementia (including Alzheimer’s disease) as confirmed by a consultant neurologist,
psycho‑geriatrician, psychiatrist or geriatrician. The diagnosis must confirm permanent irreversible failure of brain
function resulting in significant cognitive impairment for which no other recognisable cause has been identified.
Significant cognitive impairment means a deterioration in the person’s Mini‑Mental State Examination scores to 24
or less and deterioration would continue but for any effective treatment. Dementia related to alcohol, drug abuse
or AIDS is excluded.
18
Parkinson’s disease
The unequivocal diagnosis of Parkinson’s disease by a consultant neurologist where the consultant neurologist
confirms that the condition:
•• is the established cause of two or more of the following:
•• muscular rigidity
•• resting tremor
•• bradykinesia, and
•• has caused significant progressive physical impairment, likely to continue progressing but for any
treatment benefit.
The person must be following the advice and treatment of a specialist neurologist.
blindness
The permanent loss of sight in both eyes, whether aided or unaided, due to illness or injury to the extent that
visual acuity is 6/60 or less in both eyes or to the extent that the visual field is reduced to 20 degrees or less of
arc, as certified by an ophthalmologist.
loss of speech
The total and irrecoverable loss of the ability to produce intelligible speech as a result of permanent damage
to the larnyx or its nerve supply or the speech centres of the brain. The loss must be certified by an appropriate
medical specialist.
loss of hearing
Complete and irrecoverable loss of hearing, both natural and assisted, from both ears as a result of illness
or injury, as certified by a specialist we consider appropriate.
chronic lung disease
Permanent end stage respiratory failure with FEV1 test results of consistently less than one litre, requiring
continuous permanent oxygen therapy.
severe rheumatoid arthritis
The unequivocal diagnosis of severe rheumatoid arthritis by a Rheumatologist. The diagnosis must be supported
by, and evidence, all of the following criteria:
•• at least a six week history of severe rheumatoid arthritis which involves three or more of the following
joint areas:
•• proximal interphalangeal joints in the hands
•• metacarpophalangeal joints in the hands
•• metatarsophalangeal joints in the foot, wrist, elbow, knee or ankle
•• simultaneous bilateral and symmetrical joint soft tissue swelling or fluid (not bony overgrowth alone)
•• typical rheumatoid joint deformity and at least two of the following criteria:
•• morning stiffness
•• rheumatoid nodules
•• erosions seen on X-ray imaging
•• the presence of either a positive rheumatoid factor or the serological markers consistent with the
diagnosis of severe rheumatoid arthritis.
Degenerative osteoarthritis and all other arthritidies are excluded.
19
Contact information
Who can I contact for
further information?
If you require further information you may contact your financial
adviser, who will assist you in obtaining the information that
you require.
Alternatively you may contact the Insurer on 1800 045 288.
Please return completed insurance forms to:
CommInsure Group Risk
PO Box 321
Silverwater NSW 2128
Who can I contact if I have a complaint?
If you have an enquiry or wish to lodge a complaint, please call
the Trustee on 1800 113 116. Otherwise, you can direct your
complaint to the following address:
Customer Liaison Officer
Avanteos Investments Ltd
Locked Bag 3460
GPO Melbourne VIC 3001
Fax: 03 9804 0398
Email: complaints@colonialfirststate.com.au
If, after doing so, you are dissatisfied with the handling or
outcome of your enquiry or complaint, you can lodge a written
complaint with the Superannuation Complaints Tribunal (SCT).
The SCT is a tribunal established by the Commonwealth
Government to deal with certain categories of complaints.
Contact the SCT from anywhere in Australia on 1300 780 808
or at the following address:
Superannuation Complaints Tribunal
Locked Bag 3060
GPO Melbourne VIC 3001
Email: info@sct.gov.au
Fax: (03) 8635 5588
20
15063/0610
Symetry – Group Life Rates
Monthly Premium rate per $100,000 sum insured
Life Insurance only
Male
Life and TPD Insurance
Female
Male
Non smoker
Smoker
Non smoker
Smoker
18
9.46
10.40
4.75
19
10.56
12.15
5.06
20
10.50
12.60
21
9.79
22
9.03
23
24
Female
Non smoker
Smoker
Non smoker
Smoker
5.23
9.46
10.41
4.75
5.23
5.82
10.56
12.15
5.06
5.82
4.99
5.99
10.50
12.59
4.99
5.99
12.23
4.69
5.85
9.79
12.23
4.68
5.85
12.20
4.37
5.89
9.09
12.27
4.37
5.90
8.26
11.98
3.96
5.74
8.42
12.21
3.96
5.74
7.53
11.66
3.63
5.63
7.77
12.04
3.67
5.69
25
6.90
11.39
3.32
5.48
7.21
11.90
3.39
5.59
26
6.24
10.93
2.99
5.24
6.61
11.56
3.10
5.41
27
5.77
10.38
2.72
4.90
6.17
11.11
2.84
5.11
28
5.43
10.06
2.66
4.92
5.89
10.89
2.81
5.20
29
5.25
9.97
2.80
5.32
5.76
10.94
2.99
5.69
30
5.14
10.01
2.83
5.53
5.70
11.11
3.07
5.97
31
5.08
10.15
2.99
5.99
5.70
11.39
3.27
6.55
32
5.02
10.29
3.16
6.46
5.78
11.85
3.53
7.22
33
5.03
10.55
3.40
7.14
5.93
12.45
3.89
8.17
34
5.15
11.08
3.73
8.03
6.23
13.39
4.37
9.41
35
5.28
11.60
4.07
8.94
6.53
14.37
4.87
10.70
36
5.46
12.28
4.48
10.08
6.92
15.57
5.47
12.32
37
5.59
12.75
4.89
11.13
7.28
16.60
6.15
14.02
38
5.78
13.33
5.34
12.34
7.73
17.85
6.93
16.01
39
6.11
14.30
5.85
13.69
8.42
19.69
7.83
18.32
40
6.56
15.53
6.40
15.17
9.27
21.96
8.84
20.94
41
6.97
16.73
6.99
16.77
10.13
24.31
9.95
23.89
42
7.57
18.32
7.63
18.45
11.30
27.35
11.22
27.15
43
8.21
20.03
8.22
20.08
12.60
30.74
12.51
30.52
44
9.00
22.13
8.65
21.27
14.19
34.91
13.60
33.44
45
9.87
24.50
9.04
22.43
16.01
39.71
14.71
36.47
46
10.84
27.11
9.41
23.51
18.07
45.16
15.84
39.60
47
11.80
29.38
9.83
24.49
20.20
50.29
17.18
42.76
48
12.88
31.94
10.43
25.88
22.66
56.19
18.90
46.86
49
14.08
34.77
11.24
27.76
25.46
62.88
21.12
52.18
50
15.34
37.73
12.16
29.92
28.52
70.14
23.76
58.46
51
16.93
41.48
13.32
32.64
32.35
79.26
27.08
66.35
52
18.71
45.11
14.57
35.10
36.69
88.43
30.77
74.15
53
20.71
49.08
15.74
37.31
41.66
98.74
34.61
82.01
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531
Symetry – Group Life Rates
Monthly Premium rate per $100,000 sum insured
Life Insurance only
Male
Life and TPD Insurance
Female
Male
Female
Non smoker
Smoker
Non smoker
Smoker
Non smoker
Smoker
Non smoker
Smoker
54
22.81
53.14
16.85
39.26
47.08
109.71
38.59
89.92
55
25.16
57.61
17.95
41.09
53.30
122.07
42.88
98.20
56
27.76
62.46
19.07
42.91
60.38
135.86
47.62
107.14
57
31.39
68.42
21.27
46.38
69.36
151.19
54.02
117.77
58
35.71
75.35
23.58
49.75
80.15
169.11
60.88
128.45
59
40.84
83.32
26.05
53.15
93.06
189.83
68.36
139.47
60
46.88
92.35
28.77
56.67
108.42
213.60
76.71
151.11
61
53.29
101.26
31.45
59.75
166.20
248.32
149.23
207.20
62
60.18
111.69
34.38
63.82
197.78
295.50
177.58
246.56
63
67.73
122.82
38.04
68.92
237.33
354.59
213.09
295.87
64
76.02
134.41
42.61
75.32
287.17
429.06
257.85
358.01
65
85.20
146.88
47.93
82.64
350.34
523.45
314.57
436.77
66
119.44
199.68
89.50
127.16
521.15
776.15
470.04
652.29
67
136.16
227.64
102.03
144.95
635.39
943.36
575.50
798.27
68
155.22
259.51
116.32
165.25
775.94
1148.59
705.67
978.33
69
176.96
295.83
132.60
188.39
949.04
1400.84
866.44
1200.72
70
201.73
337.25
151.16
214.76
1162.54
1711.28
1065.23
1475.55
71
231.98
387.84
173.84
246.97
n/a
n/a
n/a
n/a
72
269.11
449.89
201.65
286.48
n/a
n/a
n/a
n/a
73
314.85
526.38
235.93
335.19
n/a
n/a
n/a
n/a
74
371.52
621.13
278.41
395.52
n/a
n/a
n/a
n/a
75
442.11
739.14
331.30
470.68
n/a
n/a
n/a
n/a
Occupational Adjustments
Life Insurance only
Life & TPD Insurance
TPD Definition
Occupation Classification
'Any' Occupation
Own' Occupation
Professional
90%
75%
102.8%
Clerical
100%
100%
n/a
Non Manual Blue
100%
110%
n/a
Light Manual
115%
150%
n/a
Heavy Manual
130%
200%
n/a
Hazardous
250%
n/a
n/a
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531
Symetry – Income Protection – 2 year benefit period
Monthly Premium rate per $1,000 sum insured
Waiting
Period
30 day
Male
60 day
Female
Male
90 day
Female
Male
Female
Age next
birthday
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
18
3.84
4.61
5.12
6.13
3.08
3.69
4.09
4.92
1.52
1.81
1.61
1.93
19
3.90
4.69
5.18
6.22
3.13
3.75
4.14
4.98
1.53
1.84
1.62
1.95
20
3.97
4.77
5.25
6.30
3.18
3.81
4.20
5.04
1.55
1.86
1.65
1.98
21
4.03
4.84
5.32
6.39
3.23
3.88
4.26
5.11
1.57
1.89
1.66
2.00
22
3.95
4.74
5.39
6.46
3.16
3.79
4.31
5.17
1.47
1.76
1.69
2.03
23
3.88
4.65
5.46
6.55
3.11
3.71
4.37
5.25
1.38
1.66
1.71
2.05
24
3.81
4.58
5.54
6.64
3.05
3.66
4.42
5.31
1.31
1.57
1.72
2.08
25
3.76
4.51
5.61
6.73
3.02
3.61
4.49
5.39
1.24
1.48
1.75
2.10
26
3.73
4.47
5.69
6.83
2.98
3.57
4.55
5.46
1.18
1.42
1.77
2.13
27
3.75
4.50
5.84
7.01
3.00
3.60
4.68
5.61
1.15
1.38
1.89
2.26
28
3.81
4.58
6.06
7.26
3.04
3.66
4.84
5.82
1.14
1.37
1.98
2.37
29
3.90
4.68
6.32
7.58
3.12
3.74
5.06
6.07
1.14
1.37
2.05
2.47
30
4.02
4.83
6.63
7.96
3.22
3.87
5.31
6.36
1.14
1.37
2.13
2.56
31
4.17
5.01
7.00
8.39
3.35
4.01
5.60
6.72
1.17
1.39
2.21
2.65
32
4.36
5.22
7.40
8.88
3.49
4.18
5.93
7.11
1.20
1.44
2.28
2.74
33
4.56
5.48
7.86
9.44
3.65
4.39
6.29
7.55
1.24
1.50
2.37
2.85
34
4.80
5.77
8.36
10.04
3.84
4.61
6.69
8.04
1.31
1.56
2.47
2.98
35
5.07
6.08
8.91
10.70
4.06
4.87
7.12
8.55
1.37
1.65
2.61
3.13
36
5.36
6.44
9.49
11.39
4.30
5.15
7.59
9.11
1.46
1.74
2.76
3.31
37
5.69
6.82
10.13
12.15
4.55
5.46
8.10
9.72
1.55
1.86
2.94
3.54
38
6.03
7.25
10.80
12.95
4.83
5.79
8.63
10.37
1.67
2.00
3.17
3.80
39
6.41
7.71
11.51
13.80
5.13
6.16
9.20
11.04
1.80
2.17
3.43
4.12
40
6.83
8.20
12.26
14.70
5.46
6.57
9.80
11.76
1.96
2.36
3.75
4.50
41
7.29
8.73
13.04
15.65
5.83
7.00
10.43
12.52
2.14
2.57
4.11
4.93
42
7.77
9.32
13.88
16.65
6.21
7.45
11.10
13.32
2.36
2.83
4.52
5.44
43
8.29
9.95
14.75
17.71
6.63
7.96
11.80
14.17
2.60
3.12
5.01
6.01
44
8.86
10.62
15.68
18.81
7.08
8.50
12.53
15.04
2.88
3.45
5.54
6.65
45
9.47
11.37
16.64
19.97
7.58
9.09
13.32
15.98
3.19
3.84
6.15
7.38
46
10.14
12.15
17.67
21.19
8.11
9.73
14.13
16.96
3.57
4.28
6.82
8.19
47
10.86
13.03
18.73
22.48
8.68
10.42
14.99
17.98
3.99
4.79
7.57
9.07
48
11.65
13.97
19.87
23.85
9.32
11.18
15.89
19.07
4.47
5.37
8.39
10.06
49
12.50
15.01
21.08
25.30
10.00
12.00
16.86
20.23
5.03
6.03
9.28
11.14
50
13.43
16.12
22.36
26.83
10.75
12.90
17.88
21.46
5.65
6.79
10.25
12.31
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531
Symetry – Income Protection – 2 year benefit period
Monthly Premium rate per $1,000 sum insured
Waiting
Period
30 day
Male
60 day
Female
Male
90 day
Female
Male
Female
Age next
birthday
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
51
14.46
17.36
23.71
28.47
11.57
13.89
18.97
22.78
6.38
7.64
11.31
13.56
52
15.60
18.72
25.18
30.21
12.47
14.97
20.14
24.17
7.19
8.62
12.43
14.92
53
16.84
20.22
26.74
32.09
13.47
16.17
21.39
25.68
8.10
9.72
13.64
16.36
54
18.21
21.86
28.44
34.12
14.58
17.49
22.75
27.30
9.13
10.95
14.93
17.91
55
19.75
23.69
30.27
36.32
15.79
18.95
24.22
29.06
10.29
12.36
16.29
19.54
56
21.43
25.72
32.27
38.72
17.15
20.58
25.82
30.98
11.61
13.93
17.73
21.28
57
23.32
27.98
34.46
41.34
18.66
22.40
27.57
33.08
13.07
15.69
19.24
23.09
58
25.44
30.52
36.87
44.23
20.34
24.41
29.49
35.39
14.71
17.65
20.82
24.99
59
27.79
33.36
39.53
47.43
22.24
26.69
31.62
37.95
16.55
19.86
22.47
26.97
60
30.47
36.56
42.48
50.98
24.37
29.25
33.99
40.79
18.61
22.32
24.18
29.01
61
33.47
40.18
45.79
54.94
26.78
32.14
36.63
43.95
20.87
25.06
25.94
31.13
62
36.89
44.27
49.49
59.39
29.52
35.41
39.59
47.52
23.41
28.09
27.74
33.29
63
40.77
48.93
53.67
64.41
32.62
39.15
42.94
51.53
26.21
31.46
29.59
35.51
64
44.85
53.83
58.07
69.68
35.88
43.05
46.46
55.75
29.10
34.92
31.50
37.79
65
49.12
58.95
62.69
75.22
39.30
47.16
50.14
60.18
32.07
38.73
33.45
40.14
Occupational Adjustments
Occupation Classification
Income Protection
Professional
85%
Clerical
100%
Non Manual Blue
130%
Light Manual
210%
Heavy Manual
250%
Hazardous
n/a
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531
Symetry – Income Protection – to age 65 benefit period
Monthly Premium rate per $1,000 sum insured
Waiting
Period
30 day
Male
Age next
birthday
Non
smoker
18
19
60 day
Female
Male
90 day
Female
Male
Female
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
7.73
9.83
12.79
15.99
7.19
9.14
11.89
14.87
5.41
6.88
8.95
11.19
7.99
10.29
12.79
15.99
7.43
9.57
11.89
14.87
5.59
7.21
8.95
11.19
20
8.23
10.76
12.79
15.99
7.65
10.01
11.89
14.87
5.76
7.54
8.95
11.19
21
8.31
10.76
12.79
15.99
7.72
10.01
11.89
14.87
5.81
7.54
8.95
11.19
22
8.63
11.08
13.10
16.37
8.02
10.30
12.18
15.23
6.04
7.75
9.17
11.46
23
8.95
11.40
13.33
16.68
8.33
10.60
12.40
15.51
6.27
7.98
9.33
11.67
24
9.29
11.72
13.65
17.07
8.64
10.90
12.70
15.87
6.50
8.20
9.56
11.95
25
9.72
12.15
13.89
17.37
9.04
11.30
12.92
16.15
6.80
8.51
9.72
12.16
26
9.96
12.47
14.21
17.92
9.27
11.59
13.22
16.67
6.98
8.73
9.95
12.55
27
10.12
12.65
14.32
18.25
9.41
11.77
13.32
16.98
7.08
8.86
10.02
12.78
28
10.25
12.82
14.49
18.64
9.53
11.92
13.47
17.34
7.18
8.97
10.14
13.05
29
10.46
13.08
14.59
18.94
9.73
12.17
13.57
17.61
7.32
9.16
10.21
13.25
30
10.66
13.33
14.76
19.33
9.92
12.39
13.72
17.98
7.46
9.33
10.33
13.53
31
10.94
13.68
15.33
19.90
10.18
12.72
14.26
18.50
7.66
9.58
10.73
13.93
32
11.41
14.26
16.19
20.80
10.61
13.26
15.06
19.34
7.99
9.98
11.33
14.56
33
11.88
14.84
17.23
21.93
11.05
13.80
16.02
20.40
8.32
10.39
12.06
15.35
34
12.34
15.42
18.29
23.07
11.48
14.34
17.01
21.46
8.64
10.80
12.80
16.15
35
12.96
16.21
19.36
24.19
12.06
15.07
18.00
22.50
9.07
11.34
13.55
16.93
36
13.58
16.98
20.83
26.04
12.63
15.79
19.37
24.21
9.50
11.89
14.58
18.23
37
14.29
17.86
22.28
27.85
13.29
16.61
20.72
25.90
10.00
12.50
15.60
19.49
38
15.06
18.83
23.73
29.66
14.01
17.51
22.07
27.58
10.54
13.18
16.61
20.76
39
15.92
19.90
25.19
31.49
14.81
18.50
23.43
29.29
11.14
13.93
17.64
22.05
40
16.92
21.16
26.58
33.24
15.74
19.68
24.72
30.91
11.85
14.81
18.61
23.27
41
18.02
22.51
28.70
35.87
16.76
20.94
26.69
33.35
12.61
15.76
20.09
25.11
42
19.25
24.06
30.90
38.62
17.90
22.38
28.73
35.92
13.47
16.85
21.63
27.03
43
20.58
25.72
33.04
41.32
19.14
23.92
30.73
38.42
14.40
18.01
23.13
28.92
44
22.13
27.66
35.23
44.04
20.58
25.73
32.77
40.95
15.49
19.36
24.66
30.83
45
23.91
29.89
37.36
46.71
22.24
27.80
34.75
43.44
16.74
20.93
26.16
32.70
46
25.85
32.32
40.57
50.70
24.04
30.06
37.73
47.15
18.10
22.62
28.40
35.49
47
27.94
34.94
43.88
54.85
25.98
32.49
40.81
51.01
19.56
24.46
30.72
38.40
48
30.28
37.85
47.33
59.16
28.16
35.20
44.02
55.01
21.20
26.50
33.13
41.41
49
32.84
41.05
50.89
63.62
30.54
38.18
47.33
59.17
22.99
28.74
35.62
44.53
50
35.56
44.45
54.58
68.24
33.07
41.34
50.76
63.46
24.89
31.11
38.21
47.76
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531
Symetry – Income Protection – to age 65 benefit period
Monthly Premium rate per $1,000 sum insured
Waiting
Period
30 day
Male
60 day
Female
Male
90 day
Female
Male
Female
Age next
birthday
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
Non
smoker
Smoker
51
39.20
48.58
58.95
73.69
36.46
45.18
54.83
68.54
27.44
34.01
41.27
51.59
52
43.11
52.97
63.63
79.54
40.09
49.26
59.17
73.97
30.18
37.08
44.54
55.68
53
47.22
57.53
68.49
85.61
43.91
53.50
63.69
79.62
33.05
40.27
47.94
59.93
54
51.53
62.26
73.61
92.01
47.93
57.91
68.46
85.57
36.07
43.58
51.53
64.41
55
55.81
66.88
78.92
98.65
51.90
62.20
73.39
91.75
39.07
46.82
55.24
69.06
56
59.53
71.96
82.36
102.95
55.37
66.92
76.60
95.74
41.67
50.37
57.65
72.06
57
62.70
76.46
85.68
107.10
58.31
71.10
79.68
99.60
43.89
53.52
59.98
74.97
58
65.21
80.19
88.44
110.55
60.65
74.57
82.25
102.81
45.65
56.13
61.91
77.39
59
66.44
82.39
90.09
112.63
61.79
76.62
83.79
104.74
46.51
57.67
63.07
78.84
60
65.83
82.29
90.09
112.62
61.22
76.53
83.79
104.73
46.08
57.60
63.07
78.83
61
62.30
77.88
86.56
108.20
57.94
72.43
80.50
100.63
43.61
54.52
60.59
75.74
62
55.51
69.38
79.15
98.95
51.62
64.52
73.61
92.02
38.86
48.57
55.41
69.26
63
44.96
56.20
66.10
82.62
41.82
52.26
61.48
76.84
31.47
39.34
46.27
57.84
64
37.77
47.21
55.53
69.41
35.13
43.91
51.64
64.55
26.44
33.05
38.87
48.58
65
24.17
30.21
35.54
44.41
22.47
28.10
33.05
41.31
16.92
21.15
24.88
31.09
Occupational Adjustments
Occupation Classification
Income Protection
Professional
90%
Clerical
100%
Non Manual Blue
150%
Light Manual
225%
Heavy Manual
350%
Hazardous
n/a
Note: Rates include GST and an adviser Commission of 22%
Please contact your adviser and refer to the Product Disclosure Statement and LifeProtect Insurance Brochure for further information
Avanteos Investments Limited Trustee ABN 20 096 259 979 Fund ABN 24 685 968 122 AFS License 245531