LOAN COVER PLUS

DEATH BENEFIT

This benefit is paid upon the death of the insured person. The benefit payable will be the amount of the death benefit that applies at the time. Upon payment of a death benefit your Loan Plus cover will end and no further benefits will be payable.

TERMINAL ILLNESS BENEFIT

This benefit is paid if the insured person suffers a terminal illness. This occurs when in our opinion the insured person is terminally ill or injured and as a result has a life expectancy of 12 months. The amount of the terminal illness benefit is always the same as the death benefit at the time when the terminal illness occurs. As this benefit brings forward the payment of the death benefit, payment of a terminal illness benefit will bring your Loan Cover Plus to an end and no further benefits will be payable.

LIVING BENEFIT

This benefit is paid if the insured person is diagnosed with any of 11 specified serious medical conditions. The benefit payable will be the amount of the living benefit that applies at that time.  The living benefit is a once only benefit so that once it had been paid your Loan Cover Plus insurance will no longer provide this benefit. Where living benefit is paid the death benefit and terminal illness benefits will be reduced by the amount we paid.

The conditions covered are:

• Alzheimer’s disease – dementia
• Cornary artery bypass surgery
• Kidney Faliure
• Severe burns
• Total loss of hearing
• Loss of independent exsistence
• Cancer
• Heart attack
• Paralysis
• Stroke
• Total loss of sight
• The full definition of each insured condition of insured condition is contained in the full PDS

COVER AT AGE 99

As long as your Loan Cover Plus policy remains in-force, cover is provided for death or terminal illness that occurs up to the anniversary after the insured person’s 99th birthday. The living benefit is only available for conditions suffered up to the anniversary date after the insured person’s 65th birthday.



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