Waiver of premium product details

• Basis - single life
• Premiums - your clients' premiums will stay the same, unless the amount of any other cover changes. For example, if the amount of the other cover increases, if the premiums are reviewable, if the cover is cancelled or the plan comes to an end.
• Choice - we'll start paying the premiums after the chosen deferred period. Your clients can choose between 4,8, 13, 26 or 52 weeks. If circumstances change, the deferred period can usually be altered to suit your clients' needs.
• Terminal illness - if your clients are diagnosed with a terminal illness and have less than 12 months to live, they won’t need to wait for their deferred period to end before we'll start paying their monthly payments.
• Connected claims - if your clients make a claim, return to work and become ill again with the same or related condition within 52 weeks, and they meet our definition of incapacitated (PDF), the deferred period won't apply.

We’ll continue paying your clients' premiums until they:

• Recover or return to work
• Are assessed as no longer meeting our definition of incapacitated (PDF)
• Reach the end of their cover term
• Die

Our Waiver of Premium (Sickness) is available on our Personal and Business Menu Plans and covers premiums for:

• Life Cover
• Life or Critical Illness Cover
• Critical Illness Cover
• Income Protection - Waiver of Premium (Sickness) is automatically included
• Pegasus Whole of Life Plan
• Key Person Income Protection (Business Menu Plan only) - Waiver of Premium (Sickness) is automatically included.

Waiver of Premium (Sickness) is not available on our Relevant Life Plan.

Your clients only have to take out waiver once for it to be attached to all the applicable covers they have with us. The waiver cover term will automatically default to the longest cover term out of all their covers.