GIO Accidental Injury Insurance

Information verified correct on September 24th, 2016

Receive up to $100,000 in Accidental Injury cover and get 10% Cash Back every 3 years

With GIO Accidental Injury Insurance you can receive up to $100,000 if you suffer a serious accident. GIO offers two packages to choose from, Standard and Plus, so you can get protection to meet your cover requirements and budget. Applying is easy with no medical exams or blood tests and you will receive 10% cash back every 3 years your policy remains in place.

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This review will explore exactly what the policy covers and eligibility requirements for application.

Key benefits of the GIO Accidental Injury Policy

  • Fast application with no medical forms or tests
  • Lump-sum benefit for accidental injury up to $100,000
  • Worldwide cover 24/7
  • 10% cash back every three years
  • Choose to pay premiums fortnightly, monthly or annually

What does the policy cover?

  • Accidental Death Benefit: If you pass away from an accident within a year of it occurring, your nominated beneficiaries will receive the sum ensured by your policy. If you haven’t nominated any beneficiaries, it will go to your estate.
  • 10% Cash Back Benefit: Customers that have held the policy for 3 years will receive 10% off the premiums as paid during the previous 3 years. If, after 3 years you’re still holding the policy, you’ll reap the benefits of 10% back every 3 years (i.e. 3rd, 6th, 9th)
  • Automatic Indexation Benefit: Indexations adjust income benefits based on the Consumer Price Index that fluctuates on a yearly basis. You’ll receive benefits each year of your policy anniversary or 5% annually. This will cease to exist once you turn 80.
  • Accidental Injury Benefit: Depending on the package you’ve selected, be that the Standard Package or Plus Package, you’ll be covered for common injuries like dislocations of hips, (knees, shoulder etc.), burns - the higher the intensity of burns, the higher the benefit you receive, fractures (from the skull, lower leg, arms, hip, pelvis etc.) After your 80th birthday, the specific benefits payable under the injury benefit will reduce starting at 10% and ending at 50% when you’re between 84-89 years of age. You are eligible for an accidental injury benefit up to $100,000.
  • Nominate a beneficiary: The proceeds of your policy can be finalised so 1 beneficiary can receive the payment of the Accidental Death Benefit without delay. Just complete the Nomination of Beneficiaries form specifying whom you want to nominate (For example your husband or child.)

When will you not be covered?

GIO will not cover claims if you:

  • Intentionally hurt yourself in road traffic accidents, electrocute yourself etc.
  • Are working in an industry like underground mining, offshore in the oil, gas or petroleum industry or overseas in the armed forces, these are considered jobs of high danger
  • Carrying any form of assault weapon
  • Working at heights over 15 metres like window cleaners or arborists
  • Engaging in aviation based activities (be that aerobatics, air racing, parachuting, sky diving, paragliding or bungee jumping) etc.
  • Are riding or driving in any automobile, motorcycle that is used to propel. Whether that be on a racing track, waterway, racing course or speedway
  • Hiking, rock climbing or scaling (mountain activities among others with elements of danger).
  • Wreck diving, cave diving or pot holing down 45 metres or more
  • Taking alcohol or drugs in an illicit manner, not prescribed by a registered doctor
  • Have a mental disorder or illness

GIO Accidental Injury - Other things to know

  • If the insurance policy doesn’t meet your needs, you have 30 days to cancel your policy. As long as you haven’t made a claim, you’ll receive a full refund.
  • You can choose either the Standard or Plus package
  • GIO Accidental Injury Plan is a single life policy only. As the sole owner of the policy, you will also be the only insured person.
  • You have the choice of fortnightly, monthly or annual payments from your bank account or credit card.
  • You have 30 days to pay if on a monthly system or 14 days if paying fortnightly or yearly.

Who is eligible for GIO Accidental Injury?

  • Anyone between the ages of 18 to 75 can apply for the GIO Accidental Injury policy.
  • Australian or New Zealand citizens can apply for GIO’s Accidental Injury Cover
  • You must be in Australia at the time of the application
  • The benefits cover you 24 hours a day, 365 days a year.
  • Your policy will stop when you turn 90
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