Zurich Life Risk
Trauma cover
Adviser use only
Product Summary
Issued 21 December 2015
Trauma insurance provides a lump sum
payment on diagnosis or occurrence of
a covered trauma.
This is a summary only of the in-built benefits and optional extras available in Zurich Protection Plus – Trauma cover. Please read the Zurich Wealth Protection PDS for the specific definitions of each covered condition and the terms and conditions, including relevant exclusions.
Zurich’s Trauma cover will pay a lump sum equal to the Trauma benefit amount if a specified Trauma is suffered. Any stand-alone Trauma cover is not payable unless the life insured survives the occurrence of the specified trauma for 14 days.
The maximum total amount of cover with Zurich and other insurers cannot exceed $2,000,000.
Basic trauma provides cover for the following list of 12 conditions:
• benign tumour of the brain or spinal cord
• chronic kidney failure
• coronary artery bypass surgery*
• diplegia
• heart attack*
• hemiplegia
• loss of speech
• major organ transplant
• malignant cancer*
• paraplegia
• quadriplegia
• stroke*.
* An elimination period applies to these conditions. Refer to the PDS for more information.
Extended trauma provides cover for the following list of 42 conditions:
• advanced diabetes
• aorta repair
• aplastic anaemia
• bacterial meningitis
• benign tumour of the brain or spinal cord
• blindness
• cardiomyopathy
• chronic kidney failure
• chronic liver disease
• chronic lung disease
• coma
• coronary artery bypass surgery*
• deafness
• dementia (including alzheimer’s disease)
• diplegia
• encephalitis
• heart attack*
• heart valve surgery
• hemiplegia
• loss of independence
• loss of limbs or sight
• loss of speech
• major head trauma
• major organ transplant
• malignant cancer*
• medically acquired HIV
• motor neurone disease
• multiple sclerosis
• muscular dystrophy
• occupationally acquired hepatitis B or C
• occupationally acquired HIV
• out of hospital cardiac arrest
• paraplegia
• parkinson’s disease
• pneumonectomy
• primary pulmonary hypertension
• quadriplegia
• severe accident or illness requiring intensive care
• severe burns
• severe rheumatoid arthritis
• stroke*
• triple vessel coronary artery angioplasty.
In-built benefits
Trauma benefit Choice of Basic trauma cover (12 conditions) or Extended trauma cover (42 conditions). See list on page 2.
Partial payment benefit (Extended trauma)
If Trauma cover is $100,000 or more, up to 10% of the sum insured is payable (to a maximum
$25,000) on diagnosis of the following events:
• carcinoma in situ* • colostomy or ileostomy*
• diabetes (type 1)* • early stage chronic lymphocytic leukaemia*
• early stage melanoma* • early stage prostate cancer*
• facial reconstructive surgery and skin grafting • guillain barre syndrome*
• loss of hearing in one ear • single loss of limb or eye
• minimally invasive cardiac surgery – including coronary artery angioplasty*
The Trauma cover (and any Death or TPD cover if applicable), will reduce by the amount of the claim. Each of these conditions may only be claimed once with the exception of minimally invasive cardiac surgery – including coronary artery angioplasty which may be claimed on more than one occasion.
Paralysis booster benefit
The Trauma benefit will be doubled if we pay a Trauma benefit for paralysis (diplegia, hemiplegia, quadriplegia or paraplegia), to a maximum of $2,000,000.
Funeral benefit If Death cover is not selected, Zurich will pay a Funeral benefit of $5,000 if the life insured dies during the term of the policy a Trauma benefit is not payable.
Optional extras (for additional premium) Premium waiver
option
Premiums will be waived for a life insured who is totally disabled prior to age 70.
Accidental death option
A nominated benefit amount is paid on accidental death prior to age 75. Cover is available from
$50,000 to $1,000,000. Living activities TPD
option
A nominated lump sum amount is paid on the life insured’s inability to perform at least two activities of daily living, cognitive impairment or specific loss.
Business future cover option
If the policy is for business insurance purposes, the policy owner can increase the sum insured annually in line with changes in the value of the business or key person, without any further assessment of health.
Needlestick cover option
For the exposure prone occupation (eg. doctor, nurse, pathologist), a lump sum (from $50,000 to $1,000,000) is paid on contraction of HIV, hep B or hep C which is occupationally acquired. Insured child option Covers each insured child for death, terminal illness and 18 specified trauma events. Includes a
carer benefit for parents who stop work to care for a seriously ill or injured child and can convert to a stand alone policy on the policy anniversary after the child’s 18th birthday.
Trauma
reinstatement option (Extended trauma)
Trauma cover can be reinstated 12 months after payment of a Trauma claim, for conditions not related to the original claim.
Double trauma option(Extended trauma)
Death cover is reinstated 14 days after a Trauma claim. All future premiums for the reinstated cover are waived until the policy expiry date.
Top-up option (Extended trauma)
The amount of Trauma sum insured payable under the Partial trauma benefit is increased to 25 per cent of the Trauma cover sum insured, up to $200,000 ($50,000 for angioplasty). Only available if the Trauma cover is $100,000 or more.
Accelerated buy Death cover is fully reinstated 12 months after payment of Trauma benefit.
TRAUMA
Trauma
Sum Insured Age next birthday
Up to 40 41–45 46–50 51–55 56–60
up to $500,000 – – – – –
$500,001 – $1,000,000 – – – – MBA20
EE
$1,000,001 – $1,500,000 MBA20
Hep B & C HIV
EE
MBA20 Hep B & C
HIV FBC ME*^ Exercise ECG
$1,500,001 – $2,000,000 MBA20 Hep B & C
HIV ME* FBC
MBA20 Hep B & C
HIV ME*^
FBC
MBA20 Hep B & C
HIV ME*^ PMAR FBC
MBA20 Hep B & C
HIV FBC MSU ME*^ PMAR PSA (males) Exercise ECG
* To be completed by GP or specialist. ^ Medical examination to include a breast examination for female applicants
Mandatory medical underwriting requirements
Mandatory financial underwriting requirements
Financial requirements are based on the total cover held with Zurich and any other insurer for all types of cover applied for. Trauma
Sum insured Personal cover Business cover
up to $1,500,000 –
$1,500,001 –
$2,000,000
Last 2 years PITRs and BETRs
Last 2 years business financial statements (Note that business financials only required if applicable)
For a full list of acronyms please refer to our Adviser Guide.
Product parameters
Entry age: 18 – 59
Cease age: 75 (99 if Extended trauma is packaged with Death cover; limited conditions apply from age 75)
Exclusions
• A claim will not be paid under the policy for an insured event resulting from attempted suicide or self-inflicted injury
• No benefit is payable for certain covered conditions if they arise in the first 90 days after cover is applied for, increased or is reinstated (including after a premium holiday)
• No cover is provided for any insured event apparent or occurring during a premium holiday
• No funeral benefit will be paid for suicide within 13 months of the benefit start date. Exclusions apply to some of the optional extra benefits. Refer to the PDS for more details.
In-built provisions
Interim cover While Zurich is assessing the application, interim accident cover is provided for up to 90 days. Interim cover provides a benefit if the life insured suffers limited specified conditions as a result of injury and survives 14 days.
Inflation protection Zurich will offer to index the cover each year by the greater of the CPI and 5 per cent.
Future insurability On specified occasions related to personal circumstances such as marriage or the birth of a child, cover may be increased within guidelines, without further assessment of health.
Financial planning advice
Zurich will reimburse up to $3,000 toward the cost of financial planning advice, with sufficient proof, after a benefit has been paid.
Premium freeze Premiums may be frozen, in which case the same premium will continue to be payable but the level of cover will be reduced annually.
Premium holiday Allows a 3, 6, 9 or 12 month break in cover (maximum 12 months over the life of the policy).
Zurich Australia Limited
ABN 92 000 010 195, AFSLN 232510 5 Blue Street North Sydney NSW 2060 Zurich Customer Care: 131 551 Email: client.service@zurich.com.au www.zurich.com.au
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For more information please
contact your risk specialist
Business Development
Manager on 1800 252 650
This publication is dated 21 December 2015 and does not take into account your personal objectives, financial situation or needs. Therefore you should consider these factors, the appropriateness of the information provided, and the Zurich Wealth Protection Product Disclosure Statement (PDS) (available on www.zurich.com.au or by calling us on 131 551) before making a decision. The information in this publication is a summary only and there are relevant exclusions and conditions. Zurich Australia Limited ABN 92 000 010 195 AFSLN 232510 is the issuer of Zurich Protection Plus.
