Overview
Minimum entry age |
18 |
|---|---|
Maximum entry age |
60 |
Benefit expiry age |
Plan anniversary after the insured person turns 99 |
Minimum sum insured that can be applied for |
$50,000 |
Maximum sum insured that can be applied for |
$3,000,000 |
Premium types |
Stepped premium |
Funding options |
TPD Cover is available both inside and outside of superannuation |
TPD definitions available |
Super |
Product structure combinations |
Stand-alone TPD Cover |
Key benefits
TPD Cover can include the below key benefits, valuable features and the ability to add optional benefits. The available benefits and features are dependent on whether cover is purchased inside or outside of superannuation. If cover is purchased inside superannuation, then only the benefits and features marked with an * are available. If cover is purchased outside superannuation, then all benefits and features are available.
All TPD Cover benefits and features are subject to the full terms and conditions outlined within the NEOS Protection Product Disclosure Statement
Total and permanent disability benefit*
Death benefit*
Specific loss benefit
Valuable features
INDEXATION BENEFIT*
To help ensure cover keeps pace with the cost of living and maintains real value, we automatically increase the TPD Cover sum insured each year by the higher of 5% or the percentage increase in the Consumer Price Index.
SUSPENDING COVER BENEFIT*
Cover can be suspended for up to 12 months if the insured person is experiencing financial hardship.
FUTURE INCREASE BENEFIT*
The TPD Cover sum insured can be increased after certain specified events without having to provide further medical or health information.
WAIVER OF PREMIUM WHILE INVOLUNTARILY UNEMPLOYED BENEFIT*
We’ll waive premiums for up to three months if the insured person becomes involuntarily unemployed.
ACCOMMODATION BENEFIT
We’ll reimburse an immediate family member’s accommodation costs by up to $250 per day if the insured person is confined to bed and a family member has travelled to be with them.
FINANCIAL ADVICE BENEFIT*
If we’ve paid a TPD Cover benefit, we’ll reimburse up to $3,000 for the cost of a financial plan from a qualified Financial Adviser.
GRIEF SUPPORT BENEFIT
If we’ve a TPD Cover benefit, we’ll reimburse up to $1,000 for the cost of grief counselling sessions.
CHILD’S CRITICAL ILLNESS BENEFIT
We’ll pay $10,000 if a child who is financially dependent on the insured person dies, is diagnosed with a terminal illness or suffers a critical illness event.
Optional extras
In addition to the key benefits and valuable features, under certain circumstances a Disability Premium Waiver Option*, Life Cover Buy Back Option* and/or Accelerated Life Cover Buy Back Option* can be added to TPD Cover for an additional cost. See the Product Disclosure Statement for details.