BT Lifetime Employer Plan

Fund your life insurance through the BT Lifetime Employer plan.

If you are an employer looking for a reliable lifetime insurance plan for your employees, BT lifetime super employer plan is one your options. It is a superannuation or pension plan that offers a group buying power for the members to avail of an insurance plan at a reduced cost.

This plan gives a lower administration cost and lower premiums to pay for each employee of your company. Life insurance such as a pension plan is a good investment option for workers who strive to work hard in providing for their family’s financial needs. In case of unexpected emergencies or changes, a life insurance can be a good financial option.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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Super Choice allows superannuation portability

Super Choice allows employees to chose which superannuation fund they prefer to have their employer invest their Superannuation Guarantee contributions into. The Federal Government has a website set up called 'Choice of Superannuation Fund". This website will assist an employer in determining whether an employee is eligible to exercise the use of Super Choice or not.

A rare opportunity to set up your pension plan with low outlay while still working

The BT Lifetime Super Employer Plan is one of those few opportunities where you can set up a pension plan with little initial outlay in preparation for your eventual retirement.

Although your contributions may be low the future benefits can be very important when managing your family finances. The big advantage will be your ability to maintain the plan throughout your working life. Your investments will keep working for you as long as you remain in employment.

The savings you get can also be used as assets from which you can purchase fixed interest products like government bonds or shares.

The investment options available are uncomplicated and can be tailored to suit a range of risk profiles. Other benefits include:

  • You have the choice of using more than 40 investment options. The main benefit here is that you can make investments that will enhance your retirement funds is a way that you feel comfortable with. Investments that take into account your particular retirement expectations, financial goals, and risk profile. Investments are managed by BT Financial Group (BT), BT Partners , multi managers and external fund managers. The plan is administered using BT Online Employer.
  • Employees will each need a minimum balance $10,000. Although spouse accounts are available, meaning your spouse will be allowed to join and receive the same benefits and features as yourself. You will also be eligible for discounts on plan balances.
  • The plan is appropriate for business employing two or more staff. This makes it ideal for the small business operator. It is also tax effective in that insurance premiums are paid pre-tax. This has the effect of lowering employee’s taxable incomes.

As an employee you will be able to add to your BT Lifetime Super Employer Plan in many ways some of these being your agreed salary sacrifice amount, spouse contributions, and any personal after tax investments you may wish to make. If you are eligible it also accepts government contributions.

Top insurance cover also available

When you take up a BT Lifetime Super Employer Plan you will also have the option of protecting both yourself and your family against life's misfortunes should you become sick, injured or die.

The insurance cover offered includes the following:

  • Death alone. This cover will pay any nominated beneficiary the amount you are insured for should you die.
  • Death and Total and Permanent Disablement (TPD). This option will pay your beneficiaries should you die. It will also pay a lump sum amount should you become totally and permanently disabled as the result of an ailment or injury.
  • Death, TPD and Income Protection Insurance. In this case the death benefit remains as does the total and permanent disablement but it includes a guarantee that payments will be made monthly to compensate you for loss of salary or wages while you are off work sick and unable to work.

BT also offer some worthwhile and exclusive deals to their customers who sign up for a BT Lifetime Super Employer Plan, these deals include:

  • Gifts products from top line online shopping malls.
  • Adventure and leisure experiences.
  • Health insurance and travel insurance.
  • Travel packages that include car hire and accommodation costs.
  • Westpac financial products.

Advantages of BT Lifetime Super Employer plan

If you are going to invest in a life insurance policy for your employees, it is indispensable to know the benefits and advantages you can avail from it. This is to ensure that you can maximise the proceeds you can get from your investment.

With BT lifetime super employer plan you can enjoy reduced cost premiums. Your superannuation plan is a lot cheaper when you enroll for life insurance in group. With a lesser administration fee and lower premium price, both the employer and employees can best benefit from a cost effective life insurance investment.

This is a rare opportunity for you to set up a pension plan with less outlay to prepare for your future. Your contribution is minimal but the benefits that you earn in the future can be very important to your family’s finances.

Another advantage of this unique lifetime super employer plan is that you are able to maintain or keep your plan throughout your working life.

Regardless of how many jobs you have performed or employers you have worked with, your plan will continue to accumulate the payments and up- to-date contributions. So this is very important because your investment is working for you, for as long as you are actively working or performing a day job.

Your savings can also be invested as an asset for government bonds, fixed interest products, and shares.

Employers only give a minimal share for the premiums of their employees which is a significant financial assistance they could pass onto their employees as benefits.

More features of the BT Lifetime Super Employer Plan

Life insurances can offer you varied features and benefits, and it is important to know the distinct features of BT life insurance you can enjoy. This offers you better insight to judge which plan benefits will be most suited for your insurance needs and that would be rewarding for your investment at the same time.

The lifetime super employer plan allows you to choose from over 40 investment options. This special feature gives more versatility to BT’s insurance package.

With over forty investment options available, you can surely get something which is more appropriate to your needs. The numerous investment options will allow you to properly match your chosen plan with other considerations like risk profile, financial goals and retirement expectations.

Flexibility to manage your contribution

Policy holders are also given more leeway to upgrade their plan with BT lifetime super employer plan. You can contribute a portion of your salary, include your spouse on your policy, and personal after-tax contributions. To add your spouse to your BT lifetime super employer plan, you simply need to complete a spouse application that will likewise entitle your spouse to the features and benefits you enjoy from your life insurance package. If you want to increase your contribution, you can also do this by signifying your intention and fill in the insurance increase form.

Additional perks to consider

The features and benefits of the lifetime super employer plan are not merely confined to the proceeds one is entitled for their future claims based on their premiums. The policy holders can take advantage of other perks such as financial products provided by Westpac, travel packages, accommodation and car hire, travel insurance, health insurance, leisure and adventure experiences and gifts from premium online shopping malls as an extended feature available for its members. The investors and insurance policy holders can also avail of the privilege to monitor their account with the company through phone inquiry and by logging into their account online.

Know your insurance options and benefits

You can avail of BT lifetime super employer plan options such as death only, death and Total and Permanent Disablement (TPD), and death and TPD and Salary Continuance Insurance. You can also be eligible for its Super Choice insurance plan which requires you to meet certain qualifications in order to avail of its features and benefits.

Once you meet the requirements, any of your future employers may directly put contributions to your account. This scheme is valuable for your career and retirement, and can make way for easy management of your plan or account. On top of these, BT lifetime super employer plan policy holders can also enjoy additional perks and benefits of exclusive offers especially for its valued clients.

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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