What options are there if I can't afford my premium payments?

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What options are there if I can't afford my premium payments?

The Premium Pause Benefit allows you to stop paying premiums for up to 3 months each year you hold your policy. While the Premium Pause Benefit is in place, no cover is provided by your policy for the Disability Benefit or the Redundancy Benefit. This means that any sickness, injury or notice of unemployment that occurs during the period of the Premium Pause Benefit will not be covered.

You could also look at reducing the amount of cover you have to reduce the cost of your premium.

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Products and services including banking, superannuation and insurance are provided by different entities of the Suncorp Group. Suncorp Bank (Suncorp-Metway Ltd ABN 66 010 831 722) is only liable for the banking products or services it provides and not the products and services of other companies in the Suncorp Group.

Read the relevant Product Disclosure Statement before buying any insurance products. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.

This content is current for Car, Motorcycle, Motorhome, Caravan & Trailer, Boat, Home & Contents, Landlord and Strata Insurance policies with a start or renewal date on or after 25 March 2021.

GENERAL INSURANCE
General Insurance (including Home Building, Home Contents, Landlord, Strata, Car, CTP, Motorcycle, Caravan, Motorhome, Boat Insurance, Business Insurance and Barristers Insurance) is issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance.

SUNCORP HEALTH INSURANCE
Suncorp Health Insurance is issued by nib health funds limited ABN 83 000 124 381 (nib), a registered private health insurer, and is marketed by Platform CoVentures Pty Ltd ABN 82 626 829 623 (PC), a Suncorp Group company. PC is an authorised agent of nib and receives commission from nib. Read the policy booklet before buying this insurance. Click here for a copy.

SUNCORP LIFE INSURANCE
Suncorp Life Insurance products, other than in some circumstances the Redundancy Benefit, are provided by either Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (Asteron) or by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life) which are part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). TAL companies are not part of the Suncorp Group. TAL companies use the Suncorp brand under licence.

Redundancy Benefit issued on or before 31st March 2020 was offered by AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI) which is part of the Suncorp Group. New Redundancy Benefit policies and renewals offered from 1st April 2020 will be issued by Asteron Life &Superannuation Limited, ABN 87 073 979 530, AFSL 229880 (Asteron). The different entities of TAL and the Suncorp Group of companies are not responsible for, or liable in respect of, products and services provided by the other.

TRAVEL
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Vero Insurance.

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