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MetLife Australia

MetLife Australia (parent company MetLife, Inc.) is a leading provider of life insurance, partnering with employers, super funds and financial advisers to help Australians protect the lifestyle they love – and providing help when they need it most.

Backed by over 150 years of history and a strong global presence, MetLife Australia has the scale and experience to be a valued and trusted partner.

MetLife protects customers in over 40 countries worldwide and leads the market in corporate insurance solutions in the US, Latin America, Asia, Europe, and the Middle East.

More than 90 million people around the world have put their trust in MetLife, Inc. to protect what matters most – their families, their finances, and their future. MetLife, Inc. serves 90 of the top 100 Fortune 500 companies in the United States.

MetLife Protect and MetLife Protect Super
We've made it easier for you to protect what matters most as your life changes, by providing building blocks of flexible cover.

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Information on this page was last updated on 01/10/2021 and is subject to change by the product issuer. While Choosi makes best endeavours to ensure the accuracy of this information, we recommend that you always consider the most up-to-date information on a product you are interested in, which will be available on each brand’s own website.

Life Cover

  • MetLife offers an optional Specified Events Benefit under Life Cover, which is available to most white and blue collar occupations.
  • Cover available from $50,000. Age eligibility applies.
  • Other features include:
    • Death Benefit.
    • Terminal Illness Benefit – advance payment where illness is likely to result in your death within 24 months.
    • Immediate Expenses Benefit – advanced payment of $30,000 (subject to approval).
    • Involuntary Unemployment Premium Waiver Benefit – lump-sum premiums waived if you lose your job due to Involuntary Unemployment (up to 3 months a year and 6 months total).
    • Life Events Increases Feature – ability to increase cover without medical underwriting under certain circumstances (the lesser of 25% of the original cover amount or $200,000, up to $1M for the life of the policy).
    • Indexation – cover increases every year without health assessment (greater of CPI or 5%).
  • Optional Extras1
    • Specified Events Benefit – additional payment if Life Insured suffers from a Specified Event as a result of an accident (subject to maximum payment limits).
    • Buy/Sell Extras – provides enhanced benefits to support your business succession plan.
    • Premium Waiver Disability Benefit – premiums waived for up to 6 months if Life Insured is Totally Disabled for a period of 12 months or when insured reaches age 65, returns to work or begins earning an income.

Total and Permanent Disability (TPD) Cover

  • MetLife allows either Standalone TPD Cover or Linked TPD Cover to Life Cover.
  • Cover from $50,000 up to $5,000,000 depending on age.
  • Other features include:
    • Any Occupation Benefit2 – payable if you suffer total and permanent disablement due to an Illness or Injury and are unable to continue in the workforce in any suitable occupation. Applicant must be under 65 and working at least 20 hours per week to be eligible. Excludes some occupations.
    • Limited Earnings Benefit2,3  – payable if your earnings are unlikely to ever exceed 25% of your pre-disability earnings while retaining a limited capacity for work and you are not eligible for payment under any occupation benefit.
    • Home Duties Benefit1 – payable if you’re permanently unable to do all of the defined Home Duties without another person’s help.
    • General Disability Benefit2 – payable if you’re permanently unable to do two or more of the defined Activities of Daily Living without another person’s help.
    • Physical Disability Benefit3 – payable if you suffer Loss of Limb – single limb or Blindness – partial loss solely due to Illness or Injury, provided defined criteria is met.
    • Death Benefit – provides a $10,000 benefit if you pass away during the term of your Standalone TPD Cover (subject to approval).
    • Life Events Extras Feature – ability to add Extras Cover without medical underwriting under certain circumstances.
    • Life Events Increases Feature – ability to increase cover without medical underwriting under certain circumstances (the lesser of 25% of the original cover amount or $200,000, up to $1M for the life of the policy).
    • Indexation – cover increases every year without health assessment (greater of CPI or 5%).
  • Optional Extras:
    • Employment Extras (Life Cover Buy Back) – includes a Life Cover Buy Back Option (TPD) 14 days after a linked TPD benefit payment (expires age 75).
    • Double Benefit (TPD) – restores your Linked Life Cover 14 days following full linked TPD Cover benefit payment without further evidence of health, occupation or pursuits1.
    • Specialist Extras (Own Occupation)3 – Own Occupation TPD definition1.
    • Business Extras – (Own Business)3 TPD definition and Life Cover Buy Back Option (TPD)1.
    • Premium Waiver Disability Benefit – premiums waived for up to 6 months if Life Insured is Totally Disabled for a period of 12 months or when insured reaches age 65, returns to work or begins earning an income1.

TPD Cover expires when the Life Insured turns 75.


Trauma Cover

  • Our Trauma Cover Reinstatement Option ensures continuous cover after multiple benefit payments – up to six times the Trauma amount for multiple claims across each Trauma Category for the life of the policy.
  • Cover from $30,000 up to $2,000,000 depending on age.
  • Other benefits include:
    • Medical Travel Expenses Benefit – reimbursement of travel expenses for hospital treatment within Australia (up to $5,000 for the life of the policy).
    • Life Events Extras Feature – ability to add Extras Cover without medical underwriting under certain circumstances.
    • Indexation – cover increases every year without health assessment.
  • Optional Extras:
    • Life Cover Buy Back Option (Trauma)2 – restores your Linked Life Cover 12 months following a full or partial Linked Trauma Cover benefit payment, without the need for medical evidence (expires age 75).
    • Double benefit (trauma)3,1 – restores your Linked Life Cover 14 days following a full Linked Trauma Cover benefit payment and waives future premiums on the restored Life Cover Amount until the Life Insured turns 65.
    • Trauma Cover Reinstatement Option3(expires age 75).
    • Premium Waiver Disability Benefit1 – premiums waived for up to 6 months if Life Insured is Totally Disabled for a period of 12 months or when insured reaches age 65, returns to work or begins earning an income.
    • Individual Extras3 – Booster Benefit and Repeat Angioplasty Benefit. When taken with the Trauma Cover Reinstatement Option, provides additional cover for certain specified related and unrelated cancers, as well as specified related heart conditions (expires age 75).
    • Family Extras3,1 – Covers your children when diagnosed with specified serious illnesses. Includes Child Trauma Benefit up to 10% of trauma cover (max $50,000 for all claims) and reimbursement of travel and/or accommodation expenses up to $500 per day (max $5,000 for the life of the policy).

Trauma Cover expires when the Life Insured turns 70.


General

The following features are also available as part of your cover or to tailor your cover further:
  • 5 and 10-year Fixed Term Option premium types, with Life and TPD premiums guaranteed for the length of the term.
  • True Level premium types (up to age 65 and up to age 70).
  • Ability to pay premiums fortnightly.
  • Generous entry ages.
  • 30-day cooling off period.
  • Complimentary interim cover at no extra cost (subject to approval).
  • Financial advice after claim – reimbursement of up to $5,000 to cover the costs associated with the preparation of a financial plan following a lump-sum claim outside super.

Additional premium applies for Optional Extras. Terms, conditions, limits, no claim periods and exclusions apply. Please consider the relevant PDS.

  1. Optional Extras Cover expires when the Life Insured turns 65.
  2. Only one of these Benefits will be payable under your Policy.
  3. Not available inside superannuation.

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