MetLife Australia

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 Benefit^2,3 – 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. This is only available for non-superannuation policies. If you have Standard TPD Cover inside superannuation, we will pay any TPD Benefits you are entitled to under the Policy inside superannuation under superannuation laws.
  • Home Duties Benefit¹ –
    • For policies inside superannuation: payable if you’re permanently unable to do all of the defined Home Duties without another person’s help and is unlikely to ever be able to work again solely due to Illness or Injury.
    • For policies outside superannuation: provides a benefit if the Life Insured has a permanent inability to do all of the Home Duties without another person’s help solely due to Illness or Injury.
  • General Disability Benefit² –
    • For policies inside superannuation: payable if you’re permanently unable to do two or more of the defined Activities of Daily Living without another person’s help and are unlikely to ever be able to work again solely due to Illness or Injury.
    • For policies outside superannuation: payable if you’re permanently unable to do two or more of the defined Activities of Daily Living without another person’s help solely due to Illness or Injury.
  • Loss of Use of Limbs and/or Sight Benefit –
    • For policies inside superannuation: payable as a result of Injury or Illness, the Life Insured suffers:
      • Loss of Use of Limb – two or more limbs; or
      • Blindness; or
      • Both Loss of Use of Limb – single limb and Blindness – partial loss; and
      • is unlikely to ever be able to work again solely due to Illness or Injury.
    • For policies outside superannuation: payable as a result of Injury or Illness, the Life Insured suffers:
      • Loss of Use of Limb – two or more limbs; or
      • Blindness; or
      • Both Loss of Use of Limb – single limb and Blindness – partial loss.
  • 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 –
    • Personal events: ability to increase cover without medical underwriting under certain circumstances (the lesser of 25% of the original cover amount or $200,000, with the exception of increases under the home loan life event which is capped at the lesser of 50% of the original Life Cover Amount and $500,000). Maximum increases allowed throughout the life of the Policy under personal events is capped at $1,000,000. This feature expires when the Life Insured turns 55.
    • Business events: As the Life Insured’s Business increases in value, their corresponding Business equity increases and/or the Policy forms a part of a loan guarantee, you can increase your Life Cover Amount and any Linked TPD Cover Amount without further medical underwriting. the maximum Cover Amount that you can increase is capped at the lesser of 50% of the original Life Cover Amount and $500,000. Maximum increase is capped at $3,000,000. You can increase cover under business events up to six times over the life of the Policy.
  • Indexation – cover increases every year without health assessment (greater of CPI or 5%).
• Optional Extras:
  • Life Cover Buy Back Benefit – restores your linked Life Cover 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. The Life Insured must survive without a life support system for at least 14 days after the date they satisfy the applicable TPD Definition.
  • Own Occupation Benefit³ – covers the Life Insured’s permanent inability to ever work again in their Own Occupation, trade or profession solely due to Injury or Illness.
  • Own Business Benefit – covers the Life Insured’s loss of ability to ever work again in their Business, solely due to Injury or Illness.
  • Premium Waiver Disability Option – 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.

Trauma Cover

• Our Trauma Cover Reinstatement Option ensures cover remains and continues to provide protection for any conditions that arise as a result of Accidental Injury. Twelve months following your full or partial benefit payment, the Trauma Cover Amount is automatically reinstated.
• 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 more than 100km from home (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 (greater of CPI and 5%).
• 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 Option (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 – restores your Trauma Cover Amount after we have paid a benefit under Standard Trauma Cover without the need to provide us with any additional health or other evidence until the age of 75.
  • Premium Waiver Disability Option¹ – 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: provides an additional 50% of the Trauma Cover Amount to provide additional cash flow.
    • Repeat Angioplasty Benefit: covers angioplasty on one or two arteries to treat coronary artery disease 12 months or more after a previous benefit payment for Angioplasty – single or double vessel. Up to 25% of the Trauma Cover Amount capped at $25,000.
    • Advanced Diabetes Benefit: provides up to 100% of the Trauma Cover Amount for severe diabetes mellitus, either insulin or non-insulin dependent if the Life Insured suffers from Diabetes – severe with complications.
  • Family Extras^3,1 –
    • Child Trauma Benefit – payable once only for each Dependent Child, over the life of the Policy for circumstances where your Dependent Child is Diagnosed with one of the following specified serious Illnesses:
      • Bacterial Meningitis
      • Cancer – excluding specified early stage cancers
      • Severe Crohn’s Disease
      • Cystic Fibrosis
      • Epilepsy
      • Severe Ulcerative Colitis
    • Family Assistance Expenses Benefit: payable if an immediate family member needs to travel more than 100km to help with family responsibilities once a claim under Trauma Cover has been paid. The benefit is a reimbursement of the direct travel and/or accommodation expenses up to $500 per day (max $5,000 for the life of the policy).

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, TPD and Trauma 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, monthly or annually.
• 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.