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BT Life Insurance has a long and interesting pedigree in Australia, running back to 1969. Today it's a well known fixture of Australian financial services, offering a range of insurance, investment and advisory services.
As a large provider it can offer a range of flexible options, and products to meet a diverse set of needs. If you're looking for an insurer that can help you closely tailor your cover, and offer a range of other services alongside life insurance, you might want to consider BT.
An adviser can help you find cover from trusted life insurance brands.
Maximum cover amount | $2,000,000 |
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Age of entry | 15-69 |
Types of cover offered |
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How do I apply? | With an adviser over the phone |
Conditions apply, always consult the Product Disclosure Statement (PDS)
Pros | Cons |
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Note: Conditions apply, always consult the Product Disclosure Statement (PDS)
BT has been protecting the insurance needs of Australians and their families since 1987. It is part of the BT Financial Group, an Australian wealth management organisation that offers everything from superannuation to investment products, retirement income products and a range of insurance solutions. Established in 1969, the BT Financial Group is the wealth management division of The Westpac Group.
BT’s suite of insurance policies includes term life insurance, TPD insurance, income protection insurance, business insurance, key person insurance and more.
Term Life Insurance
Total and Permanent Disability Insurance
Income Protection
Living Insurance (Trauma Protection)
Business Overheads
BT Protection Plan ownership can be structured in many ways to suit your needs, either inside or outside superannuation.
With BT's "Flexible Linking Plus" and "Income Linking Plus" you can combine your options, and hold different cover both inside and outside of super.
This has the potential benefits of:
Whether certain cover types are tax deductible depends on your situation, what cover types you hold and whether they're held inside or outside of superannuation.
By offering a full range of options, BT might be able to help you get tax deductible life insurance where other providers can't. It can be worth finding out how life insurance and tax works to get an idea of how much you might be able to save.
BT Super for Life
BT Lifetime - Personal Super
BT SuperWrap
BT LifeTime Super Employment Plan
BT Business Super
There are additional benefits that you can have added to your life insurance cover with BT Life Insurance. These include:
To reward you for your loyalty, after you have held your BT life insurance cover for three years from the commencement date of your policy, an extra 5% of your sum insured will be added to any Death Benefit, TPD Benefit, Living Benefit or Children’s Benefit payable when you make a claim. This increase is provided at no extra charge.
If you have Income Protection, Business Overheads or Key Person Income Insurance, after you have held your policy for three years, BT will add a Death Benefit of $50,000 to your policy for no additional cost.
The cost of your policy will depend on a range of factors, including:
It can also be affected by factors like pre-existing conditions, or whether you opt for medical testing before getting cover.
BT takes pride in the way they interact with their customers. They are conscious of the importance of listening to customers so they can obtain ideas on how to improve customer relations. For this reason the company has put together a Quality Group which monitors the company processes and its manner of dealing with its customers.
BT insurance has its own phone line, available 8.00am to 6.30pm Mondays to Fridays (Sydney and Melbourne time).
BT Financial Group is a subsidiary of the giant Westpac Banking Corporation, one of Australia's Big Four banking establishments, and the second largest bank operating in New Zealand. Following its merger with the St George Bank in 2008 it amassed a total of 10 million clients who were serviced with a network of over 1,000 branches as well as around 2,800 ATMs. The Westpac group was officially regarded as being the world's most sustainable bank for five years in a row in the early 2000s.
Westpac is Australia's second largest provider of wealth producing platforms of funds under administration. An investment in BT Super for Life is not however, an investment in the Westpac Banking Corporation, nor are the Westpac Group finances in any way affected by the performance of BT Super for Life. BT Super for Life is a product of the BT Financial Group which in itself is one of the largest wealth management institutions in Australia. BT Life Insurance is available through all the Westpac Group outlets such as Westpac, St.George, Bank of Melbourne and BankSA as well as through many financial advisers.
It is a company that encourages its staff to be passionate about its customers, as well as that of the wider community. For this reason the whole BT Financial Group gets involved in many community organisations such as Clean up Australia Day, Earth Hour, and Australia's Biggest Morning Tea. Besides having a local community conscience the BT Group also follows global best practice in that its corporate policy solidly supports the following causes:
You can also choose between stepped and level premiums for your policy:
The policy owner is responsible for paying the premiums of all BT life insurance policies. As outlined in the table below, there are a range of flexible premium payment options available.
Payment options | Yearly payment | Half-yearly/quarterly/monthly payment |
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Direct debit | Yes | Yes |
Credit card | Yes | Yes |
Cheque | Yes | No |
Platform Investment account | Yes | Yes |
Platform Super account | Yes | Yes |
Partial rollover | Yes | No |
If your interested in investing in life insurance or would like more information on any of the products discussed, BT financial group provides access to licensed financial advisers to discuss the best options to match your lifestyle.
The wide range of options, and different ways you can tailor the insurance for different value and cover, means it might be best navigated with the help of a financial adviser.
If you're interested, want a no-obligation quote or just want to learn more, you can get in touch with a BT Life Insurance adviser below.
Fund your life insurance through the BT Lifetime Employer plan.
What is the date for determining TPD for a mental illness claim? Is it the date the person left work, or the date after 12 months of medication and rehabilitation that it was proved by two doctors that the person now does qualify for TPD.
Hi Gms,
Thank you for your question.
You have contacted finder.com.au, a comparison and information service and not actually BT Life Insurance.
You will need to contact BT Life Insurance directly about this matter.
Cheers,
Zubair