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From 15 September until 31 January 2021 your clients may be eligible for a discount of up to 7% when they purchase at least $200,000 of Life, or an equivalent amount of Life Income Cover, alongside at least one additional qualifying benefit.

Premium cover and redundancy covers are not qualifying benefits, so will not activate or increase the discount. However, the premiums for these benefits will be discounted as part of the overall discount offer.

To find out which benefits qualify for the discount click here. For examples of how the discount structure works please see here.

The multi-benefit discount is available for clients who are quoted and issued during the campaign period. The discounts will be applied at client level, on all risk premiums applicable to that client. The discount will decrease or may be removed if Life or Life Income Cover or any other benefit is removed.

Terms and conditions apply, click here to read.

Click here for Frequently Asked Questions

Qualification Criteria

Number of Benefit Groups

Age under 30

Age 30-39

Age 40+

LIFE + 1 Optional Benefit Group

0%

3%

5%

LIFE + 2 or more Optional Benefit Groups

0%

3%

7%

Benefit Group

Minimum Sum Insured

Qualifying Covers under the Benefit Group

Mandatory Benefit Group

LIFE

$200,000 *

Life Cover


Life Income Cover *

Optional Benefit Groups

TRAUMA

$100,000

Trauma Cover – accelerated


Trauma Cover - standalone

COMPLETE DISABLEMENT

$200,000

Complete Disablement Cover - accelerated

Complete Disablement Cover - standalone

MONTHLY DISABILITY

$2,000 per month

Income Cover - Agreed Value


Income Cover – Indemnity


Income Cover - Loss of Earnings


Income Cover - Loss of Earnings Ultra


Mortgage Repayment Cover

*Minimum sum insured requirement for Life Income Cover:


Payment Term

Non-indexed
(per month)

Indexed
(per month)

5 years

3,765

3,500

10 years

2,111

1,835

15 years

1,571

1,281

20 years

1,309

1,006

25 years

1,157

841

30 years

1,061

733


Example scenarios

The discounts are applied at customer level and on all covers applicable to that customer on the policy. Where indicated * does not qualify as a benefit or does not meet the criteria

Scenario

Life Assured Details

Cover

Eligible discount

1. Two qualifying benefits selected for client aged between 30-39

Male, age 35

Life Cover $250,000

Trauma Cover $150,000

Eligible for:
LIFE + 1 other = 3%

2. Two qualifying benefits selected for client aged 40+

Female, age 42

Life Cover $300,000

Income Cover $2,500

*Premium Cover

Eligible for:
LIFE + 1 other = 5%

3. Two clients on a policy qualifying for different discounts


Male, age 45

Life Cover $400,000

Trauma Cover $200,000

Income Cover $3,000

*Premium Cover

Eligible for:
LIFE + 2 other = 7%

Female, age 37

Life Cover $250,000

Mortgage Repayment Cover $2500

*Premium Cover

Eligible for:
LIFE + 1 other = 3%

4. Two clients on a policy where only one qualifies for a discount

Male, age 40

Life Cover $500,000

Mortgage Repayment Cover $4000

*Redundancy Cover $2000

*Premium Cover

Eligible for:
LIFE + 1 other = 5%

Female, age 40

*Life Cover $150,000

Trauma Cover $200,000

Not eligible for discount as minimum Life Cover sum insured criteria not met

5. Discount not applicable where Life Cover is not selected (with minimum sum insured criteria met)

Male, age 32

Trauma Cover $200,000

Complete Disablement Cover $200,000

Income Cover $3000

*Premium Cover

Not eligible for discount as Life Cover is not selected

6. Two qualifying covers from the same benefit group count as one

Female, age 44

Life Cover $500,000

Trauma Cover (stdlne) $200,000

Trauma Cover (accel $200,000

Eligible for:
LIFE + 1 other = 5%

7. Minimum sum insured criteria met with the aggregate of two covers from the same group

Male, age 33

Life Income Cover $3000

Income Cover $1500
Mortgage Repayment Cover $1500

*Premium Cover

Eligible for:
LIFE + 1 other = 3%