- Income Protection Insurance
- Life Insurance Products
- What is Life Insurance?
- Why Do I Need Life Insurance?
- How to Purchase Life Insurance
- Finding the Right Life Insurance Product
- Direct Life Insurance
- Key Person Insurance
- Trauma Insurance
- Funeral Insurance
- Life Insurance vs Income Protection
- Life Insurance Glossary
- Frequently Asked Questions
Life Insurance Glossary
Please note this glossary is intended for guidance only and you should read your policy wording and definitions or consult your financial adviser for further clarification.
A legally qualified medical practitioner other than the policy owner, the insured or an immediate family member or business partner of the policy owner or the insured.
This is the amount you insure for under an income protection policy. You can insure up to 75% of your income from personal exertion (excluding superannuation contributions and business expenses but before tax).
A person, corporation or trust nominated by you to receive any money payable under term life insurance or accidental death cover option.
The full-time gainful occupation of the insured immediately prior to total and permanent disablement or total disability, or income protection claim.
Policy anniversary date
The date on which the policy’s annual review will take place and from which the premiums are calculated. The policy anniversary date will fall on each anniversary of the date insured from shown in the Policy Schedule.
Policy expiry date
When you take out a policy you choose how long you want your cover in place, for example up to age 65.
Premium due date
Premiums are usually payable monthly in advance and are due on the date insured from and on each policy anniversary date.