Suncorp Income Protection Insurance: Redundancy Cover Insurance

About Suncorp Income Protection Insurance Redundancy

Suncorp Income Protection Insurance Redundancy is one of the leading insurance providers and offers general insurance, life insurance, banking, and superannuation.

Even if you are working and earning well, you feel worried that if you get injured or sick and can’t work, then your earnings might stop. One reliable solution to keep you free from such worries is income protection insurance.

Such insurance provides you monthly income to replace a proportion of taxable income on a regular base for a specified period of time in case you become disabled or unable to work.

It will help you with financial support and you can focus and work towards getting well. You must have such insurance from a trusted insurance provider.

One such trustworthy insurance provider is Suncorp Income Protection Insurance Redundancy. You can add an option of redundancy cover with income protection. Redundancy cover protects you when you are looking for work.

Suncorp’s income protection policy is issued by Suncorp Life & Superannuation Limited under the Suncorp brand and is distributed by MetLife Insurance Limited. It has over 630,000 customers to its credit.

The claim process is also made very efficient and simple with Suncorp. You can also get your claim canceled in 30 days if you desire.

Suncorp income protection insurance provides coverage of 75% income up to $10,000 a month. It also provides an optional coverage of 75% of your income if you are involuntarily unemployed.

Suncorp covers a large number of occupations. You can buy income protection insurance online and it is made very simple to do so.

To find the right policy for you, you can talk to the Suncorp financial planner. You can book an appointment online or can call at 13 11 75.

Features and Benefits of Suncorp Income Protection Insurance with Redundancy Cover

1. Monthly Benefits: You are provided with a choice to ensure up to 75% of monthly income which can amount from $1000 to $10,000 monthly in case of disability and from $1000 to $4000 monthly if you have opted for redundancy cover.

2. No Medical Test: You don’t need to take a medical test to get the insurance cover. You just apply online, answer the questions and you will get the insurance covers.

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3. Flexible Payout Periods: In the case of a claim, you can choose how long you will be paid; it can be up to 2 years. For redundancy cover, it can be up to 3 months.

4. Cover up to age 65: According to the terms of the policy, if your insurance cover has not ceased, you can renew your disability coverage until you reach the age of 65. Redundancy cover can also be renewed every year up to the age of 65.

5. Easy Claiming: It is very easy to make claim with Suncorp. You just make a call at 1800 257 008. They will send you a claim pack including details regarding the documents required. On completion of your waiting period, you will get your monthly benefit after 30 days.

Suncorp Insurance Get a Quote

You can get a quote online. It is a very simple process and doesn’t require you to go through any medical test. You just provide the required information. It will hardly take a few minutes.

  1. Go to the website at http://www.suncorp.com.au/insurance
  2. Click on the link “Get a Quote” on the home page.
  3. A new page will be displayed. You provide the details required such as your date of birth, occupation, gender, income, how long you want to continue benefits, etc. You will have to answer some questions related to health and lifestyles.
  4. After entering the required information, click on the button “Get Quote”. Within 30 seconds, you will get the online quote.

Suncorp Income Protection Insurance Eligibility Criteria

The eligibility criteria for you to get Suncorp income protection insurance is

  1. You must be of the age between 18 and 60.
  2. You must be an Australian citizen or permanent resident of Australia.
  3. You must be working at least 20 hours a week in your primary occupation.

Manage Your Policy

Suncorp lets you manage your policy online. To manage the policy online, you need to register your policy online which you can accomplish in a few seconds.

You can view your policy details as well as change the code of communication, make a request for a certificate of a currency, renew your policy, link additional policies, and many more.

Suncorp.com.au registration

  1. Go to the webpage at http://www.suncorp.com.au/insurance/online-services.
  2. Click on the “Register Now” button displayed under the “My Insurance Manager” window. Agree on the terms and conditions and then click on the “Register” button.
  3. You will need to create a password. Once registered, you can log in with your user id and password.

Suncorp.com.au Login

  1. 1Type in your email address and password in the respective fields and then click on the “Login” button.
  2. Enter your policy details and manage your policy.

Suncorp Insurance Make a Payment

Payments for income protection insurance you have to pay to differ according to the policy benefits you opt for. It is tailored to your financial needs. You can make the monthly payment.

It can be as low as $5 a week to $16 a week for redundancy cover. You can pay online too. You need to provide your account details or credit card details.

Suncorp Income Protection Insurance Make a Claim

To lodge a claim for income protection insurance, you have to contact Suncorp staff at the earliest. Expert and cooperative staff will take care of your claim. You have to contact to make a claim at 1800 257 172 and you will be advised of the next step.

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You will be sent a claim form that you need to fill up. You will have to provide documents such as your identification, financial documents, medical notes, etc. The documents needed depend on the type of the claim.

On receiving all the required information, Suncorp will process your claim and you will also be informed about the progress. You ensure that you keep Suncorp informed about any changes that occurred in the circumstances during the claim process.

Suncorp.com.au Track My Claim

You can track your claim online. It is a very simple process. You must have registered your account with Suncorp. You need to log in with your user id and password. Following the given are the steps you need to follow.

  1. Go to the website at http://www.suncorp.com.au/insurance.
  2. Click on the “Track Your Claim” link displayed at the top right of the page.
  3. A login screen will be displayed. If you haven’t registered earlier. Then click on the “Register Now” button displayed at the right of the screen. A new screen will be displayed. You provide information such as first name, surname, date of birth, email address, postcode, insurance policy number, etc. Agree with terms and conditions. Click on the “Register” button. On successful registration, you can log in anytime.
  4. In order to log in, type in your email address and password in the respective field. Click on the “Login” button.
  5. On logged in, you can check the status of your claim.

Does Income Protection Insurance Cover Redundant Workers?

Everybody likes to have security and financial certainty in life. When it is not sure what is going to happen with your job in the future, you would feel that it is better if you can get income protection insurance cover for redundant workers.

Unfortunately, income protection insurance cover from life insurance companies in Australia doesn’t provide coverage to redundant workers. And as such Suncorp does not offer a policy to cover redundancy.

There is some support provided with income protection insurance policies from life insurance if a worker is rendered redundant. The benefits provided are:

Involuntary Unemployment Waiver: If the policyholder is involuntarily unemployed, premiums are waived. The premium waiver is offered for a period of six months provided you provide evidence that you are looking for employment actively.

Unemployment Benefit: When the insurer is involuntarily unemployed, Suncorp will pay for the minimum repayment on the insured’s mortgage if the mortgage is from Suncorp only. Again benefit is also provided for a certain period.

Income Protection Frequently Asked Questions

Some of the frequently asked questions about Suncorp income protection insurance are given below:

1. What is Income Protection cover?

Income protection is insurance coverage where you get regular monthly income for a specific period in the event of you can’t work due to sickness or disability. The coverage can be for 1 or 2 years depending upon the terms of the policy.

2. What do you mean by disabled?

Disability means you are unable to work for your income-producing job in your primary occupation. Disability to work is due to injury or sickness and you are going through treatment under the care of a registered doctor. You will start getting the income protection benefits if you are disabled for a continuous waiting period of 30 days.

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3. What is underwriting?

Underwriting means the insurance company assesses your occupation, income, lifestyle, health, age, etc., and then decides whether you can be offered coverage or not. Your premium will also be decided accordingly. Make sure that you will disclose full information to the insurer.

4. Can the insurer cancel my policy?

If you pay a premium on a regular base, the insurer can not cancel your insurance policy except if there is an attempt of fraud or you haven’t disclosed relevant information while applying for the insurance.

5. How much will my monthly benefit be?

Maximum monthly benefit can be up to 75% of the taxable income you were earning when you applied for the protection. The payment will replace only 75% of the income you have stopped due to the disability.

6. Can I receive other claims or insurance payments in addition to this?

You may receive other disability benefits or worker’s compensation, but it can’t exceed 75% of your income 12 months prior to the claim from all the sources included.

7. When will the insurer not pay?

The insurance won’t pay for the conditions specified in the policy such as mining underground, working at heights above 15 meters, mental illness, pregnancy, etc.

8. What is the waiting period?

The waiting period for your income protection policy is 30 days. It means 30 days must pass before any payment begins.

9. How long can I be paid the claim?

It can be of 1 to 2 years depending upon the benefit period you have chosen while signing up for the policy. You can make claim any number of times during the life of your policy.

10. What happens if you make a claim for the same cause as a previous claim?

You cannot claim for the same disability except if you have made a full recovery between claims.

11. Whom should you contact if you want to make changes to your policy?

Suncorp has an expert team ready to help you. You can call at1800 257 717 from Monday to Friday between 8 am to 8 pm. You will be guided with the proper process needed to be done to make the changes.

12. What happens when I want to make a claim?

You have to contact 1800 257 717 immediately after the need to make a claim. You will be sent a claim pack with the necessary forms to be filled up and the outline needed to make a claim. Fill up the forms and provide the documents required with them.

13. Where can I learn more?

Suncorp makes sure that you learn more about your policy when you buy it. You will be provided a Product Disclosure Statement relating to your product. You can also talk to a financial advisor about which policy suits you the best.

For your daily needs, if you are relying on income and want to secure your family in case of an adverse situation, you must consider Suncorp income protection insurance with redundancy cover.

With this insurance, your financial needs such as paying bills, rent, mortgage payments,s, etc. will be taken care of and you can have a sigh of relief. Read more articles on wink24news.

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