Suncorp Income Shield

Who's going to pay the bills if you can't?

Imagine you stopped getting paid tomorrow. How long would you be able to cope financially? Bills won’t stop coming in. And if you have any debts, the bank won’t stop charging interest.

But accidents happen and so do illnesses. In fact 1 in 3 Australians will be unable to work for more than 3 months at some stage in their lives because of sickness or injury¹. Suncorp’s Income Shield will pay you up to 80% of your pre-tax income if you can’t work because of sickness or injury. This money could go a long way to keeping your household or your business running, while you concentrate on your recovery.

1. Source: Institute of Actuaries – Report to the Disability Committee, May 1995

Features and Benefits

• Suncorp’s unique 10-hours definition allows you to work 10 hours or less per week, while still receiving your full benefit, if you can’t work more than 10 hours because of sickness or injury. This can help self-employed people keep an eye on their business, or give employees a chance to stay in touch with the workplace, without having to worry about losing their benefits.
• The Partially Disabled Benefit can compensate your partial loss of earnings if you can only return to work gradually.
• The Pregnancy Premium Waiver Benefit means 6 months of premiums can be waived during pregnancy, saving you money, and keeping you covered, during what is often a crucial time.
• The choice of Agreed Value or Indemnity Option lets you decide how your benefit is calculated if you need to claim.

1. Under Agreed Value, you will receive the insured monthly benefit applying at the time, including any indexation increases, even if your income has reduced since the date of the application (offsets may apply).
2. With the Indemnity Option, which attracts a 15% discount on premiums, benefits are based on your average monthly earnings in the 12 months prior to your disablement.

• Packaging discounts are available if you and your family take out multiple Suncorp policies at the same time.
• Can be owned by a self-managed super fund
• Automatic Increase Benefit
• 24 hour world-wide cover
• Death Benefit up to six times the monthly benefit

Optional extras

• The SuperSaver Option allows you to have a portion of your benefit (before tax) paid into your super fund. This helps ensure your retirement savings keep building while you’re off work

Product Disclosure Statement

*Please refer to the Suncorp Lifeguard Product Disclosure Statement and Policy Information Update for full terms and conditions.

This is general advice and does not take into account your objectives, financial situation or needs. Before acting on this general advice you should consider the Product Disclosure Statement and the appropriateness of the advice having regard to your objectives, financial situation and needs and consult your financial adviser.

Suncorp Lifeguard is jointly issued by Asteron Life Limited ABN 64 001 698 228 AFSL 237903 (Asteron Life) and Suncorp Portfolio Services Limited ABN 61 063 427 958 AFSL 237905 RSE L0002059,(SPSL) subsidiaries of Suncorp Metway Limited ABN 66 010 831 722. Before deciding to acquire or to continue to hold the product please read the Product Disclosure Statement and Policy Information Update.
The obligations of Asteron Life and SPSL are not guaranteed by any other company in the Suncorp group. This product is not a bank deposit or other bank liability.