IMPORTANT: This information is intended to assist you in understanding the features of Suncorp Recovery Protect, as explained in the Product Disclosure Statement (PDS). It should be read in conjunction with the PDS.
Trauma insurance cover
Getting a quote
Purchasing a policy
Making a claim
Trauma insurance cover
Who should consider trauma insurance?
Anyone who has ongoing financial commitments, or wants to ensure that they can maintain their independence and lifestyle in the event of a critical condition, should consider trauma insurance. Parents and those with dependent children have an obvious need for this type of financial protection. However, many single people and couples without dependents will also want to ensure that they can remain in control financially if they were to suffer an illness and be unable to work for an extended period of time.
How much cover should I take out?
When considering the level of Suncorp Recovery Protect trauma insurance cover that's right for you, it's important to consider your current financial situation. A lump sum that's sufficient to cover your mortgage costs, regular bills and medical and rehabilitation costs associated with a serious illness will take the pressure off and let you focus on recovering. You might even like to take a holiday to help you recuperate.
How much cover can I take out?
You can apply for the following levels of cover for each person insured with Suncorp Recovery Protect:
- $50,000
- $75,000
- $100,000
- $150,000
- $200,000
- $250,000
Who can apply for cover?
You can apply if you are a permanent resident of Australia aged between 17 and 54. Suncorp also has a range of other life insurance options that can be tailored to your individual circumstances. Call 13 11 55 to discuss your options and ask for 'Life & Super'.
Getting a quote
What will I need to get a quote and apply?
Buying Suncorp Recovery Protect is easier than you think. Once you have accessed the Suncorp Recovery Protect PDS, all you need to do is complete our online application and provide your payment details and, provided you meet the application conditions, you can be instantly covered or you can call us on 1800 026 105. It will take you around 10 minutes.
Are there any medical tests required to take out this product?
No medical documentation or tests are required at time of application. In the event of a claim, a check of medical records will be conducted to confirm the details provided in your application as part of the claims assessment process.
Purchasing a policy
Am I covered immediately?
If you meet the application conditions, you will be covered as soon as you submit your completed on-line application. We will mail you a confirmation letter and Policy Document Notice within five working days of your application being completed.
Do I receive a discount if I have multiple Suncorp products?
You will receive a 10% discount on your Suncorp Recovery Protect Premium if you hold 3 or more Suncorp products (excluding Suncorp Recovery Protect). A "product" includes any Suncorp Insurance policy: Car, Home, Contents (counted as a separate product to Home Insurance), CTP, Boat, Life, Trauma, Income Protection and Family Protect. It also refers to Personal Banking accounts, Credit Cards, Loans, Personal Superannuation and Investment products.
Can my partner and I take out a joint policy?
You and your partner (or another person) can apply for immediate cover on the one application. A 5% discount applies for joint policies.
What happens if I have a joint policy and a claim is paid out for one of the people covered?
If your Policy Document Notice shows there are 2 insured persons, and we pay a claim for one of them, our cover for that insured person stops. Cover for the other insured person, who has not made a claim, is not affected. The premium will be adjusted to cover the remaining person only.
Are there any grounds for exclusion?
Full details of the Exclusions which apply to this policy can be found in the Suncorp Recovery Protect PDS. They include the following:
- Pre-existing conditions - the benefit is not payable if the event giving rise to the claim is as a result of any injury, illness, condition, or related symptom which, in the five-year period prior to the policy commencement date, the insured person knew about or should have been expected to know about, or had consulted a medical practitioner about. For example if you had suffered a heart attack 3 years prior to you applying for this insurance and after your policy commencement date you suffered another heart attack from the same or a related cause, you will not be covered under this policy because it is directly related to a pre-existing condition.
- Suicide, attempted suicide or related complications; or
- Active participation in any riot, strike, civil commotion, coup, revolution, terrorist activity or military, naval or airforce action.
Do any waiting periods apply?
A 90 day waiting period applies in the case of:
- Cancer;
- Coronary Artery Bypass Grafting;
- Heart Attack; or
- Stroke.
This means that we will not pay any benefit if one of these critical conditions occurred, was diagnosed, or the circumstances leading to the diagnosis of the critical condition became apparent, within 90 days after:
- the policy commencement date; or
- the most recent reinstatement of the insurance following payment of any overdue premium (please refer to the PDS for further information).
We will also not pay any benefit if the condition requiring Coronary Artery Bypass Grafting occurred, was diagnosed, or the circumstances leading to the diagnosis became apparent, within that applicable 90 day period.
Do I need to tell you if I have recently given up smoking?
Yes. Non-smoking rates apply once you have not smoked for a continuous period of 12 months or more. If you are currently a smoker and cease smoking permanently just call us on 13 11 55 weekdays from 8am - 6pm and we can update your details.
Is there a cooling off period?
When we send you the Policy Document Notice, you have 21 days from the Policy Commencement Date to check that this insurance meets your needs. This is the 'cooling off period'. If you wish, and provided you have not made a claim, you can write to us or tell us you want to cancel your policy during the cooling off period. We will then refund in full any money you have paid.
How do I pay for the policy?
Your policy premium is paid monthly via direct debit from a bank account or by credit card. If you do not pay the premium when due, your policy will be cancelled.
Will my premium or cover amounts change over time?
Yes, your premiums increase as you grow older and we will automatically increase the Sum Insured each year in line with increases in the Consumer Price Index. We recalculate your premium each year to reflect this increase in cover and your change in age. You can ask us at any time not to make an adjustment to your sum insured due to CPI increases.
Premium rates are guaranteed not to change for 12 months from your policy commencement date. We can change the rate of premium payable for all Suncorp Recovery Protect policies after this date. If so, you will be charged the new rate from your next renewal date.
How can I increase my cover?
You can apply to increase your level of cover by taking out another Suncorp Recovery Protect policy. The maximum benefit for one life insured across all Suncorp Recovery policies is $250,000 (plus any indexation). Please note, the 90 day waiting period for certain conditions and the 5-year period for pre-existing conditions would recommence for the new policy.
Can payments be made from more than one account?
For joint applications, the total monthly premium will be deducted from one account.
When will payments be deducted from my account?
A confirmation letter will be forwarded to you within 5 days of your application confirming your deduction date and the premium amount. The following timings apply depending on financial institution and payment method:
Suncorp bank account - 10 days after Policy Commencement Date
Non Suncorp bank account - On the 24th of the month
Building Society / Credit Union - 1st or 16th of the month (dependent on date of application)
Credit Card (all financial institutions) - 4 days after Policy Commencement Date
Will I receive a refund if I cancel the Policy?
If you cancel your cover within the 21 day cooling-off period you will receive a full refund of any premiums paid. However, if you cancel your Policy outside of the cooling off period, no refund will be provided but your cover will continue until the due date of your next premium.
When would I be eligible for a payout?
We will pay you the sum insured should the insured person:
- suffer or be diagnosed with any of the following critical conditions:
- Cancer*;
- Coronary Artery Bypass Grafting*;
- Heart Attack*;
- Loss of Limbs or Sight;
- Paralysis;
- Severe Accidental Injury;
- Significant Cognitive Impairment; or
- Stroke*;
- satisfy the definition for that critical condition (please refer to the definitions in the PDS); and
- survive at least 14 days from the occurrence or diagnosis (whichever is later) of that critical condition.
Your policy may be subject to special conditions and some exclusions do apply. (The exclusions are explained in the PDS.) You must also meet our claim requirements.
A 90 day waiting period applies to critical conditions marked with an ‘*’. Please refer to the PDS for full details. The critical condition must be diagnosed by a medical practitioner approved by us.
What is the survival period?
The survival period is 14 days from the occurrence or diagnosis (whichever is later) of a critical condition. This means that, if you die earlier, you will not be paid the Recovery Benefit under this policy. However, you may be eligible for the Limited Death Benefit.
Who is entitled to the Financial Planning Benefit?
In addition to any Recovery Benefit paid, you may be eligible to be reimbursed up to $1000 for financial planning advice provided by an accredited adviser. Please refer to the PDS for full details.
Making a claim
How do I make a claim?
We want to make the claims process as easy as possible and will endeavour to pay all valid claims as soon as possible after all required documentation has been received and assessed. A claim can be made by either:
- Phone - call 13 11 55 between 8am - 6pm Monday to Friday and ask for 'Life & Super'; or
- Post -
Life & Superannuation (LS004)
GPO Box 1453
Brisbane QLD 4001
If you are entitled to make a claim, you should notify us within 30 days of the event giving rise to the claim. We will then send you a Claims Pack that needs to be completed and returned to us.
We can also ask for information we might reasonably need and obtain medical and other records, to ensure that the information that you gave us in your application is correct, that the critical condition definition is satisfied and/or that an exclusion or special condition does not apply.
What's the process for paying a claim?
To enable us to assess your claim promptly, the following information will be required to help us assess your claim:
- Proof of age of the insured person;
- Policy Document Notice and PDS;
- Evidence from appropriate Medical Practitioners;
- Confirmatory investigations including, but not limited to clinical, radiological, histological and laboratory evidence; and
- Claim form.
Before making any decision about this product, we suggest you download the Recovery Protect Product Disclosure Statement.
Important Information about Suncorp
Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for or liable in respect of products or services provided by other entities of the Suncorp Group. Suncorp Recovery Protect is provided by Suncorp Life & Superannuation Ltd ABN 87 073 979 530 (SLSL). SLSL is a member of the Suncorp Group and may provide services and use services provided by related companies. As a result SLSL and those related companies may receive fees or charges, details of which are set out in the relevant Product Disclosure Statement and SLSL's Financial Services Guide ("FSG"). Any advice contained in this material has been provided by representatives of SLSL without taking into account your particular objectives, financial situation or needs. For that reason, before acting on the advice you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs.
