As soon as we accept your application. This is known as your Policy Commencement Date and is shown on your Policy Schedule.
We will send you a Policy Schedule outlining your accepted benefits, Sum Insured, Policy Commencement Date and each cover’s Expiry Date.
If you are a member of an Australian superannuation fund you might already have some life and income protection insurance cover, though typically the default option may only provide a fraction of the cover you need.
Australian superannuation plans also don’t normally include serious or critical illness insurance.
To work out if you need extra cover, check the insurance you have through your superannuation fund or employer.
Finding the right level of life insurance cover depends on your own individual circumstances. When deciding how much cover you need, you should consider your stage of life, whether you have dependants, your debt levels and the ongoing needs of your family and loved ones.
Here is an online calculator that may be able to help you.
For income protection insurance the level of income protection insurance cover available is limited to 75% of your income.
There is a 30-day cooling-off period, where you can cancel your policy and receive a full refund if you change your mind.