AMP Flexible Lifetime Protection Income Protection

Choose from 3 levels of cover with AMP Flexible Lifetime Protection

The AMP Flexible Lifetime Protection – Income Protection comes in three levels of cover. Based on the need and financial ability you have, you can choose which type of cover is for you.

Basic Income Protection

The Basic Income Protection from AMP is an affordable type of income protection which covers you against severe injury or illness. Some of the benefits included in this level of cover are:

• Pays out 75% of your current monthly income
• Comes with a complimentary Interim Accident Cover which extends up to 12 months
• Flexible payment scheme you can choose from – monthly, annually, or every 6 months
• Waiver on premiums while on a claim
• Transport benefits if you were injured far away from home
• Further financial assistance for rehabilitation
• Has a 14-day cooling off period

Standard Income Protection

This level gives you higher coverage aside from the basic features, such as the flexible payment options and the waiver of premium. The standard level coverage gives you a 24/7 protection anywhere in the world. It also ensures you a steady stream of income every month in case the injury or illness would render you unable to work for a long period of time.

• Pays out 75% of your monthly income up to $30,000
• A Guaranteed Future Insurability which allows you to increase your cover as your income increases without providing any additional medical information
• Pays for extra rehabilitation costs to help you adjust with your new lifestyle.
• Gives you additional payment of up to $60,000 in the event of death while still paying for your premium

Advanced Income Protection

The advanced level cover gives you maximum protection for you and your family. It gives you the same cover you can find from the standard level and more. Choosing this level also allows you the option to choose between stepped or level premiums.

• Gives you a guaranteed continuation of cover after claim
• Pays you a monthly benefit for 6 months if your situation is under the 22 plus trauma conditions in the list. You will receive the payment whether or not you could go back to work.
• Has a Family Support benefit which gives assistance in case a family member has to stop working to render full-time care
• Pays extra rehabilitation costs that the injury or illness would incur. This includes equipments and extra medical costs.

AMP Flexible Lifetime Protection Income Protection exclusions to be aware of

The AMP Flexible Lifetime Protection Income Protection Plan will not pay a claim if:

• The injury or illness was caused by war – whether declared or not
• The injury or illness was caused by your intentional or deliberate act
• It is for normal and uncomplicated pregnancy and childbirth
• If you were diagnosed with, had symptoms of or were treated for the injury or illness prior to cover commencing or being reinstated (unless you were not aware of the condition)

Who is eligible for AMP Flexible Lifetime Protection Income Protection?

The AMP Flexible Lifetime Protection Income Protection Plan can be owned by an individual or the trustee of a SMSF or a small APRA superannuation fund.

In order to qualify as an insured person under the policy, to be eligible for a Basic Plan you must be between 19 and 49 years of age, but if you apply for an Advanced Plan, Standard Plan or SMSF Plan, you must satisfy the following conditions:

Receive a quote for income protection cover from AMP