Frequently asked questions about Life Protection Insurance
Many of your general questions can be answered here.
If you have a specific question regarding your own policy, please contact us
No, Suncorp Life Protect only covers death or terminal illness. If you are looking for insurance that covers accidents and injuries, take a look at our Suncorp Accidental Injury Plan and Suncorp Income Protection, as they may offer exactly what you need.
We try to make our claims process as simple as possible. When you (or your beneficiary) need to make a claim, simply call us on 1800 604 689. We’ll discuss the claim and then send you out a claim pack. This claim pack will ask you to put some documentation together and return it to us. This could include medical reports, a copy of your will or a death certificate.
No, we don’t offer multi-policy discounts, however, we do offer a family discount. If one of your immediate family members has a Suncorp Life Protect policy with us, you can benefit from a 10% family discount on your cover when you take out a Suncorp Life Protect policy. When you apply, simply let our operator know, and we will arrange the discount.
Yes, you can increase your lump sum benefit by up to $100,000 each year without having to provide further evidence of your health or lifestyle if you are under 60 and go through a significant life event e.g. getting married, have or adopt a child, have a child start school for the first time, purchase a home or suffer the death of your spouse. You can increase your lump sum to a maximum of $1,000,000 in total depending on how much your original sum insured was. If your sum insured was $400,000, you will be able to increase your sum insured using this benefit by a further $400,000 in total over the life of the policy.
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At Suncorp we believe in the importance of helping to provide you and your family with financial reassurance and security when you need it most. If the decision to cancel your cover is the result of a change in your lifestyle or financial situation, it's worth knowing we're looking out for you.
Questions regarding the Health and Lifestyle section
No. We calculate your premiums before you answer our health and lifestyle questions, so they will not decrease after completing the Health and Lifestyle section. However, those calculations are based on “standard lives”. If your health and lifestyle answers put you outside the standard lives category, we may apply exclusions or loading to your premium, or we may decide that we are unable to offer you cover under the policy you applied for.
You just need you to tell us the truth. When it comes to providing you with insurance, it’s incredibly important you give us the correct information. If you keep something from us or lie about something in your application, your policy may be voided later on, or your claim may be denied. If you have any questions about this, please refer to Your Duty of Disclosure.
You may find that in some of our health and lifestyle questions we will ask you something that has a specific timeframe attached to it. For example, we could ask you if you have been a smoker “in the past five years” or “ever”. When answering each question, just keep an eye out for any specific timeframes and make sure you answer correctly.
During our life insurance application process, we ask certain questions to allow us to determine your health and lifestyle risks. If those questions put you outside our “standard lives” category, we may not be able to offer you cover.
General questions regarding life insurance
Life insurance can be thought of a financial safety net for your loved ones. You pay regular premiums, and in return, your beneficiaries will receive a lump sum payment when you die. If you are diagnosed terminally ill after 12 months of having cover, you may receive an early benefit payout.
Life insurance can offer a lump sum payment to your loved ones when you die. If you have anyone who depends on you financially – whether it’s your partner, your kids, or other members of your family – it’s worthwhile thinking about how they would cope if your financial support were no longer available. If you were no longer around, the lump sum payment from your life insurance could help them cover everyday expenses, pay off the mortgage or pay for the kids’ education.
We know this part can get tricky. Working out how much life insurance you need is never easy. You don’t want to get too much – or too little. To help you get a rough idea of how much cover you need, try using our simple life insurance calculator. It can help you work out how much you’ll need to cover your funeral, pay off your debts, and take care of your loved ones once you are gone. If you are still unsure, you can always give us a call on 13 22 44 and we can go through your options.
As long as you are an Australian citizen aged between 18 and 60, you can apply for life insurance. If you want to apply for life insurance with Suncorp, simply apply online or call us on 1800 177 549. It only takes a few minutes to apply, and you don’t have to worry about taking a medical test or filling out any complicated paperwork.
As long as you have had your policy for at least 12 months, you can apply for an early payout of your lump sum payment if you are diagnosed terminally ill. Should this happen, contact our claims department to discuss which steps to follow, and we will proceed with the claims process as quickly as possible.
Our 30 day cooling off period allows you to cancel within 30 days of us confirming the purchase of your policy. Unless you have made a claim within that time, we will refund any premiums you have paid to us, and the policy will be cancelled.
It’s up to you! You can choose who you would like to benefit from your life insurance policy. All you need to do is tell us, and we will arrange it. You can nominate up to five beneficiaries, who will receive the proceeds of your lump sum payout in the event of your death. This could be your partner, or your partner and your kids, or it could be friends or a charity. If you have any questions about this, just ask!
We know that dealing with death is never easy. To make our part somewhat easier, we ensure our claims process is as simple as possible. When your beneficiaries need to make a claim, they just need to call us on 1800 604 689. We will then discuss some of the details of the claim and send out a claim pack.
Yes, Australian and New Zealand Citizens and permanent residents, residing in Australia at the time of applying for the insurance policy can apply.
This information is a summary and general advice only and does not take into account your personal situation or needs. You should consider whether the product is appropriate for you. Please refer to the Product Disclosure Statement (PDS) for a product for further details about the terms and conditions that apply. Refer also to the Suncorp Financial Services (SFS) Financial Services Guide for details about what financial services may be provided in relation to the product.