IMPORTANT: This information is intended to assist you in understanding
the features of Suncorp Recovery Protect, as explained in the Product Disclosure
Statement (PDS). It should be read in conjunction with the PDS.
Trauma insurance cover
Getting a quote
Purchasing a policy
Making a claim
Trauma insurance cover
Who should consider trauma insurance?
Anyone who has ongoing financial commitments, or wants to ensure that they can maintain
their independence and lifestyle in the event of a critical condition, should consider
trauma insurance. Parents and those with dependent children have an obvious need
for this type of financial protection. However, many single people and couples without
dependents will also want to ensure that they can remain in control financially
if they were to suffer an illness and be unable to work for an extended period of
time.
How much cover should I take out?
When considering the level of Suncorp Recovery Protect trauma insurance cover that's
right for you, it's important to consider your current financial situation. A lump
sum that's sufficient to cover your mortgage costs, regular bills and medical and
rehabilitation costs associated with a serious illness will take the pressure off
and let you focus on recovering. You might even like to take a holiday to help you
recuperate.
How much cover can I take out?
You can apply for the following levels of cover for each person insured with Suncorp
Recovery Protect:
- $50,000
- $75,000
- $100,000
- $150,000
- $200,000
- $250,000
Who can apply for cover?
You can apply if you are a permanent resident of Australia aged between 17 and 54.
Suncorp also has a range of other life insurance options that can be tailored to
your individual circumstances. Call 13 11 55 to discuss your options
and ask for 'Life & Super'.
Getting a quote
What will I need to get a quote and apply?
Buying Suncorp Recovery Protect is easier than you think. Once you have accessed
the Suncorp Recovery Protect PDS, all you need to do is complete our online application and provide
your payment details and, provided you meet the application conditions, you can
be instantly covered or you can call us on 1800 026 105. It will
take you around 10 minutes.
Are there any medical tests required to take out this product?
No medical documentation or tests are required at time of application. In the event
of a claim, a check of medical records will be conducted to confirm the details
provided in your application as part of the claims assessment process.
Purchasing a policy
Am I covered immediately?
If you meet the application conditions, you will be covered as soon as you submit
your completed on-line application. We will mail you a confirmation letter and Policy
Document Notice within five working days of your application being completed.
Do I receive a discount if I have multiple Suncorp products?
You will receive a 10% discount on your Suncorp Recovery Protect Premium if you
hold 3 or more Suncorp products (excluding Suncorp Recovery Protect). A "product"
includes any Suncorp Insurance policy: Car, Home, Contents (counted as a separate
product to Home Insurance), CTP, Boat, Life, Trauma, Income Protection and Family
Protect. It also refers to Personal Banking accounts, Credit Cards, Loans, Personal
Superannuation and Investment products.
Can my partner and I take out a joint policy?
You and your partner (or another person) can apply for immediate cover on the one
application. A 5% discount applies for joint policies.
What happens if I have a joint policy and a claim is paid out for
one of the people covered?
If your Policy Document Notice shows there are 2 insured persons, and we pay a claim
for one of them, our cover for that insured person stops. Cover for the other insured
person, who has not made a claim, is not affected. The premium will be adjusted
to cover the remaining person only.
Are there any grounds for exclusion?
We will not pay any benefit or refund any premiums if the event giving rise to the
claim, directly or indirectly, is as result of:
- an intentional self-inflicted act;
- a war or an act of war, whether or not war has been declared; or
- any pre-existing condition. This means any sickness, injury, condition or related
symptom, for which, in the five years before the policy commencement date:
- symptoms existed that would cause a reasonable and prudent person to seek diagnosis,
care or treatment from a registered doctor; or
- medical advice or treatment was recommended by, or received from a registered doctor.
We will not pay any Recovery Benefit in the case of:
- Cancer;
- Coronary Artery Surgery;
- Heart Attack; or
- Stroke,
if the critical condition occurred, was diagnosed, or the circumstances leading
to the diagnosis of the critical condition became apparent, within 90 days after:
- the policy commencement date; or
- the most recent reinstatement of the insurance.
We will also not pay any benefit if the condition requiring Coronary Artery Surgery
occurred, was diagnosed, or the circumstances leading to the diagnosis became apparent,
within that applicable 90 day period.
Do I need to tell you if I have recently given up smoking?
Yes. Non-smoking rates apply once you have not smoked for a continuous period of
12 months or more. If you are currently a smoker and cease smoking permanently just
call us on 13 11 55 weekdays from 8am - 6pm and we can update your details.
Is there a cooling off period?
When we send you the Policy Document Notice, you have 21 days from the Policy Commencement
Date to check that this insurance meets your needs. This is the 'cooling off period'.
If you wish, and provided you have not made a claim, you can write to us or tell
us you want to cancel your policy during the cooling off period. We will then refund
in full any money you have paid.
How do I pay for the policy?
Your policy premium is paid monthly via direct debit from a bank account or by credit
card. If you do not pay the premium when due, your policy will be cancelled.
Will my premium or cover amounts change over time?
Yes, your premiums increase as you grow older and we will automatically increase
the Sum Insured each year in line with increases in the Consumer Price Index. We
recalculate your premium each year to reflect this increase in cover and your change
in age. You can ask us at any time not to make an adjustment to your sum insured
due to CPI increases.
Premium rates are guaranteed not to change for 12 months from your policy commencement
date. We can change the rate of premium payable for all Suncorp Recovery Protect
policies after this date. If so, you will be charged the new rate from your next
policy anniversary.
How can I increase my cover?
You can apply to increase your level of cover by taking out another Suncorp Recovery
Protect policy. The maximum benefit for one life insured across all Suncorp Recovery
policies is $250,000 (plus any indexation). Please note, the 90 day waiting period
for certain conditions and the 5-year period for pre-existing conditions would recommence
for the new policy.
Can payments be made from more than one account?
For joint applications, the total monthly premium will be deducted from one account.
When will payments be deducted from my account?
A confirmation letter will be forwarded to you within 5 days of your application
confirming your deduction date and the premium amount. The following timings apply
depending on financial institution and payment method:
Suncorp bank account - 10 days after Policy Commencement Date
Non Suncorp bank account - On the 24th of the month
Building Society / Credit Union - 1st or 16th of the month (dependent on date of
application)
Credit Card (all financial institutions) - 4 days after Policy Commencement Date
Will I receive a refund if I cancel the Policy?
If you cancel your cover within the 21 day cooling-off period you will receive a
full refund of any premiums paid. However, if you cancel your Policy outside of
the cooling off period, no refund will be provided but your cover will continue
until the due date of your next premium.
When would I be eligible for a payout?
We will pay you the sum insured should the insured person:
- suffer or be diagnosed with any of the following critical conditions:
- Cancer*;
- Coronary Artery Surgery*;
- Heart Attack*;
- Loss of Limbs or Sight;
- Paralysis;
- Severe Accidental Injury;
- Significant Cognitive Impairment; or
- Stroke*;
- satisfy the definition for that critical condition (please refer to the definitions
in the PDS); and
- survive at least 14 days from the occurrence or diagnosis (whichever is later) of
that critical condition.
Your policy may be subject to special conditions and some exclusions do apply. (The
exclusions are explained in the PDS.) You
must also meet our claim requirements.
A 90 day waiting period applies to critical conditions marked with an ‘*’. Please
refer to the PDS for full
details. The critical condition must be diagnosed by a registered doctor approved
by us.
What is the survival period?
The survival period is 14 days from the occurrence or diagnosis (whichever is later)
of a critical condition. This means that, if you die earlier, you will not be paid
the Recovery Benefit under this policy. However, you may be eligible for the Limited
Death Benefit.
Who is entitled to the Financial Planning Benefit?
In addition to any Recovery Benefit paid, you may be eligible to be reimbursed up
to $1000 for financial planning advice provided by an accredited adviser. Please
refer to the PDS for full details.
Making a claim
How do I make a claim?
We want to make the claims process as easy as possible and will endeavour to pay
all valid claims as soon as possible after all required documentation has been received
and assessed. A claim can be made by contacting our Claims Call Centre on 1800 114
172.
If you are entitled to make a claim, you should notify us within 30 days of the
event giving rise to the claim. We will then send you a Claims Pack that needs to
be completed and returned to us.
We can also ask for information we might reasonably need and obtain medical and
other records, to ensure that the information that you gave us in your application
is correct, that the critical condition definition is satisfied and/or that an exclusion
or special condition does not apply.
What's the process for paying a claim?
To make a claim under the Recovery Benefit, the following information will be required:
- claim form completed by you and your registered doctor;
- policy document notice; and
- certified proof of identity (birth certificate, drivers licence or passport).
To make a claim under the Limited Death Benefit, the following information will
be required:
- claim form completed by the legal personal representative of the deceased insured
person;
- certified copy of the Death certificate;
- policy document notice;
- certified proof of identity (birth certificate, drivers licence or passport); and
- certified copy of the Will.
Depending upon individual circumstances, additional information may be required
by us. We may require you or your legal personal representative to pay for the cost
of obtaining this information.
For more information on Making a Claim, please refer to the PDS.
Before making any decision about this product, we suggest you download the Recovery Protect Product
Disclosure Statement.
Important Information about Suncorp
Various products and services are provided by different entities of the Suncorp
Group. The different entities of the Suncorp Group are not responsible for or liable
in respect of products or services provided by other entities of the Suncorp Group.
Suncorp Recovery Protect is provided by Suncorp Life & Superannuation Ltd ABN 87
073 979 530 (SLSL). SLSL is a member of the Suncorp Group and may provide services
and use services provided by related companies. As a result SLSL and those related
companies may receive fees or charges, details of which are set out in the relevant
Product Disclosure
Statement and SLSL's Financial Services
Guide ("FSG"). Any advice contained in this material has been provided
by representatives of SLSL without taking into account your particular objectives,
financial situation or needs. For that reason, before acting on the advice you should
consider the appropriateness of the advice having regard to your own objectives,
financial situation and needs.
