Life never stays the same
Life never stands still. Quite often, when your life changes, your insurance needs will as well. Let’s go through some possible scenarios;
You start a family
Starting a family is such an exciting, busy and sometimes stressful time. Obviously, making sure that you have enough insurance to protect your family financially is important. With the right level of insurance, you can be confident that if something was to happen to you, your family would be able to pay the bills.
Maritime Super’s Income Protection and Death & TPD insurance cover can give you this confidence. You just need to make sure you have the right amount of cover. We can help you with this.
The insurance needs calculator will help you to work out how much cover is right for you. Or, if it’s easier, simply call us on 1800 757 607 and we can help you.
You cut back your working hours
If you change from full-time to part-time or casual work or stop work altogether, you need to let us know as it could affect your insurance. It may also affect how you’re assessed if you need to make a claim.
The insurer has different definitions for disablement and disability, based on the number of hours you work each week. You can call us to learn more.
Have your working hours changed recently? Call us on 1800 757 607 as soon as possible.
Your salary changes
If you get a pay rise or your salary changes, you need to let us know as soon as possible. If your employer pays for your Income Protection insurance premiums, this is not applicable to you.
Your Income Protection cover is based on the salary we have on record for you. If it’s wrong or not up to date, then your cover may not be right and your benefit may be less than you expect. This is because your benefit (the amount payable to should your claim be accepted) is based on the lesser of your cover amount and your actual salary.
If your salary has increased by more than 30% in 12 months or we have a default salary for you, your increase in cover will require the insurer's approval and you will need to complete AIA’s Full Personal Statement.
Your salary is not recorded
Your Income Protection cover is based on the salary we have on record for you. If we don’t have your salary recorded, your cover is based on a default amount, which may be less than your salary, and which would provide you with a benefit of up to $3,000 per month, based on 50% cover.
If you’re not sure that we have your salary, log in to your account or call us on 1800 757 607 and we can check for you.
Finally, but most importantly, if you know we don’t have your salary details you need to contact us as soon as you can. If you have employer-sponsored cover, this does not apply to you.
Make sure we have your correct salary and you're covered; just ask us we can help you.