St.George Lifetime Protect

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St.George

Lifetime

Protect

A flexible life insurance policy that

is easy for you to change as your

life changes.

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Who’s responsible for St.George

Lifetime Protect

St.George Lifetime Protect is issued by Westpac Life Insurance Services Limited (the Insurer), located at: Level 20, Westpac Place, 275 Kent Street, Sydney, NSW 2000. The Insurer is a wholly owned subsidiary of Westpac Banking Corporation (the Bank) ABN 33 007 457 141. St.George is a division of the Bank. This product is distributed by the Bank. St.George Lifetime Protect is not a deposit with or liability of the Bank. Neither the Bank, nor any other member of the Westpac Group* (other than the Insurer) stands behind or is otherwise responsible for the insurance or the payment of any claims.

This St.George Lifetime Protect Product Disclosure Statement (PDS) has been prepared and issued solely by the Insurer.

All references to “we”, “us” and “our” in this PDS are references to the Insurer, not the Bank, except where otherwise indicated.

This PDS includes information to help you make an informed decision about whether to purchase St.George Lifetime Protect, including information about its significant benefits and its cost.

If we accept your application for insurance, we will send you a Policy Document, together with your Policy Schedule. Together, the Policy Document and your Policy Schedule will set out the terms and conditions of your contract of insurance. They describe the insurance we’ll provide for you in return for you paying your premium as required. Make sure you keep a copy of these documents in a safe place so you can refer to them if you have questions or need to make a claim.

Please ensure you carefully read this PDS and understand the extent of cover before completing your application.

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IMPORTANT INFORMATION

• Changes to the PDS: The information in this PDS is current at the date of preparation and may change. If we become aware of any change that is materially adverse to potential policy holders, we will issue a supplementary or replacement PDS. Updates of information that is not materially adverse to potential policy holders are available at any time at: stgeorge.com.au (search for “Lifetime Protect”) or by calling us on 13 18 17 for a free paper copy.

• General advice: The information in this PDS is general in nature and does not take into account your personal objectives, financial situation or needs. So in deciding whether this insurance is right for you, you should consider the information in this PDS carefully, having regard to your own personal circumstances.

• Your Duty of Disclosure: In applying for this insurance, it is important that you comply with your Duty of Disclosure. Please refer to page 13 of the PDS to ensure you understand this important duty.

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Introducing St.George

Lifetime Protect

The terms and conditions of your cover are set out in the Policy Document, the Policy Schedule and any Endorsement Letter we send you. But before that, we wanted to say a little about the cover we provide and about life insurance more generally.

Before you read any further

St.George Lifetime Protect is available to persons aged 18 to 69, permanently residing in, and receiving this PDS within, Australia.

You can only have one St.George Lifetime Protect policy in place at any one time. You cannot transfer ownership of this policy.

You must be an Australian Resident to apply for the Disability Benefit, the Injury Protect Benefit or the Injury Protect Plus Benefit.

For people who do not meet these eligibility criteria, please call us on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday, to discuss other solutions that we may be able to offer you.

Knowing what you are getting

Yes, this PDS is about insurance, but we promise you it won’t be a tough read. This PDS gives you the plain-speak overview of St.George Lifetime Protect.

We focus on the good stuff

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Choosing the right protection

Unfortunately, bad things do happen. You have limited control over that. What you do have control over is which path you take – ignore or insure.

Ignoring the possibility means you could leave your loved ones in financial difficulty.

Insuring yourself means you and the people you care about could have financial help in a time of need.

Making the choice easy

We’ve done our best to design an easy life insurance package to suit a broad range of customers. We asked loads of our customers what they wanted from life insurance. Their answers followed 3 key themes: choice, flexibility and simplicity. St.George Lifetime Protect delivers all 3.

Choice

Rather than only offering insurance that includes all of the bells and whistles, some of which you may never need, St.George Lifetime Protect allows you to choose which of the bells and which of the whistles (we call them Optional Benefits) work for you right now.

Flexibility

As your life changes, so will your needs. With St.George Lifetime Protect, your insurance can change with you. All you need to do is let us know which option you want to add or remove, and we’ll take care of the rest. Simplicity

With so much else going on in your life, we understand that you don’t want to waste time on complicated matters. That’s why we’ve made St.George Lifetime Protect all very easy.

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Understanding your cover

Below is a detailed summary of what can be added or removed from time to time to keep your policy up to date with your life stage.

Table of Benefits

The table on pages 4 to 7 is a summary of all of the benefits and features that are available within a St.George Lifetime Protect policy. They have been divided into: • Core Benefits: these are included in every policy. • Optional Benefits*: you can choose any of these

benefits that are appropriate for your life stage. You can add or remove these benefits from time to time to keep your policy up to date with your life stage. There is an additional charge for these Optional Benefits which you can ask about when applying for the insurance.

• Bonus Features are included in every policy at no extra cost and include:

• Financial Hardship Benefit • Premium Relief Benefit^

The table on pages 4 to 7 gives you a brief summary of each benefit, as well as a few ideas on the difference the money could make if you ever need to make a claim. We have also included a page reference to the Policy

Document where you will find the full terms and conditions

for each benefit. Benefits payable under this policy are subject to limitations and exclusions. Please refer to the

Policy Document and to the exclusions contained within

this PDS.

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Summary of Benefits

Benefit When is the benefit paid?+ _{Who is it}

paid to? What difference can it make? Policy doc ref.

Cor e Bene fits EST A TE PLANNING Death

Benefit# If you die, we will pay your full Death Benefit, _{reduced by any Disability Benefit or Funeral}

Benefit paid or payable under your policy. You can apply for a full Death Benefit between $50,000 and $1,000,000.

Your estate. Your family may be able to stay in their home because they can continue paying the rent or mortgage. It can help them look forward to a secure future where they will be able to make real life choices based on wants and needs rather than affordability.

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Terminal Illness Benefit

If you suffer a Terminal Illness, which means that you have been diagnosed as having less than 12 months to live, we will pay your full Death Benefit, reduced by the amount of any Disability Benefit paid or payable under your policy. If you receive a Terminal Illness Benefit payment, you will not be entitled to a Death Benefit payment.

You Rather than wasting your limited time counting your pennies, you can count your blessings that your loved ones will be able to continue on the path you had planned for them. You have the choice to source better treatments to make you more comfortable.

Perhaps your partner can take time off work to spend with you. Maybe you’ll even feel up to ticking some things off your ‘one day I will…’ list.

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Optional Bene

fits

Funeral

Benefit We will pay an Advancement of $10,000 of your full Death Benefit if you die, for funeral expenses and other immediate costs, within 48 hours of receiving all necessary claim information, including funeral invoices.

Reimbursed to the payer, or paid directly to the funeral service provider (if advised) with any residual amount to your estate.

The last thing you want to leave behind is a big funeral bill. This benefit will help to take the heat off until your estate is settled by helping to pay any immediate funeral costs.

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Final Affairs Benefit

We will pay $10,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal Illness.

Your estate if you die. You if you suffer a Terminal Illness.

Pay your own way to the end. This benefit could help cover the costs of settling your estate and wrapping up your final matters.

Page 10 DIS ABILITY AND INJUR Y Disability

Benefit We will pay an Advancement of your full Death Benefit, of up to $75,000, if you suffer a Loss of Limbs, Sight, or Loss of Independent Existence (in summary, meaning that you are physically unable to look after yourself without assistance).

You Maintain some independence by helping to pay your own medical and rehabilitation costs, employing home care or making necessary adjustments to your home.

Page 11 Injury Protect and Injury Protect Plus Benefits

If you suffer one of the listed fractures or burns in the Policy Document, we will pay the amount specified for that fracture or burn, which range from $1,000 up to $200,000. Specific exclusions apply, including for certain high risk sporting activities. Any amount payable is in addition to the payment of any Terminal Illness or full Death Benefit.

You Aside from helping to cover medical expenses, this benefit could help you minimise the impact an injury can have on your lifestyle by allowing you time to recover properly, rather than rushing back to work because there are bills to pay.

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Benefit When is the benefit paid?+ _{Who is it}

Cor e Bene fits EST A TE PLANNING Death

Benefit# If you die, we will pay your full Death Benefit, _{reduced by any Disability Benefit or Funeral}

Benefit paid or payable under your policy. You can apply for a full Death Benefit between $50,000 and $1,000,000.

Your estate. Your family may be able to stay in their home because they can continue paying the rent or mortgage. It can help them look forward to a secure future where they will be able to make real life choices based on wants and needs rather than affordability.

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Terminal Illness Benefit

If you suffer a Terminal Illness, which means that you have been diagnosed as having less than 12 months to live, we will pay your full Death Benefit, reduced by the amount of any Disability Benefit paid or payable under your policy. If you receive a Terminal Illness Benefit payment, you will not be entitled to a Death Benefit payment.

You Rather than wasting your limited time counting your pennies, you can count your blessings that your loved ones will be able to continue on the path you had planned for them. You have the choice to source better treatments to make you more comfortable.

Perhaps your partner can take time off work to spend with you. Maybe you’ll even feel up to ticking some things off your ‘one day I will…’ list.

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Optional Bene

fits

Funeral

Benefit We will pay an Advancement of $10,000 of your full Death Benefit if you die, for funeral expenses and other immediate costs, within 48 hours of receiving all necessary claim information, including funeral invoices.

Reimbursed to the payer, or paid directly to the funeral service provider (if advised) with any residual amount to your estate.

The last thing you want to leave behind is a big funeral bill. This benefit will help to take the heat off until your estate is settled by helping to pay any immediate funeral costs.

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Final Affairs Benefit

We will pay $10,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal Illness.

Your estate if you die. You if you suffer a Terminal Illness.

Pay your own way to the end. This benefit could help cover the costs of settling your estate and wrapping up your final matters.

Page 10 DIS ABILITY AND INJUR Y Disability

Benefit We will pay an Advancement of your full Death Benefit, of up to $75,000, if you suffer a Loss of Limbs, Sight, or Loss of Independent Existence (in summary, meaning that you are physically unable to look after yourself without assistance).

You Maintain some independence by helping to pay your own medical and rehabilitation costs, employing home care or making necessary adjustments to your home.

Page 11 Injury Protect and Injury Protect Plus Benefits

If you suffer one of the listed fractures or burns in the Policy Document, we will pay the amount specified for that fracture or burn, which range from $1,000 up to $200,000. Specific exclusions apply, including for certain high risk sporting activities. Any amount payable is in addition to the payment of any Terminal Illness or full Death Benefit.

You Aside from helping to cover medical expenses, this benefit could help you minimise the impact an injury can have on your lifestyle by allowing you time to recover properly, rather than rushing back to work because there are bills to pay.

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Benefit When is the benefit paid? Who is it

Optional Bene fits FAMIL Y Child Care Benefit

We will pay $500 once per year (up to a maximum of $3,500 in total over the life of this benefit) if your Nominated Child(ren), who is aged from 0–7 years, suffers one of the illnesses or injuries (fractures and burns) specified in the Policy Document.

Examples of illnesses that are covered are Chickenpox and Meningococcal infection.

You While you soothe their aches and pains, this benefit might ease your financial woes by helping you cover: • medical expenses;

• lost day care costs;

• a babysitter or carer if you can’t get time off work.

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Education

Benefit We will pay a one-off benefit amount of $30,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal

Illness. Your estate if you die. You, if you suffer a Terminal Illness.

This benefit might be the difference between your child(ren) receiving the education you had planned for, and whatever the family can afford when you are no longer around to support them.

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Guardian

Benefit We will pay $50,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal Illness.

Your estate if you die. You, if you suffer a

Terminal Illness.

This money could financially help the guardian/carer of your child(ren). It might allow them to cut back their work hours or perhaps relocate so they can be there for your child(ren).

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Family Cover Benefit

We will pay $20,000, in addition to your Terminal

Illness Benefit, if you suffer a Terminal Illness. You. You can dedicate this money to meeting the costs associated with treating a Terminal Illness.

Page 22 Bonus F eatur es ^ Financial Hardship Benefit

If you are experiencing Financial Hardship, we can waive your premium for up to 3 continuous months. You will not be eligible for any benefit due to any Illness, Injury, death or other event that first occurred whilst the Financial Hardship Benefit is in effect.

N/A Being short of cash for a little while shouldn’t mean you lose your safety net altogether. Let us know and we’ll put your cover on hold while you get your finances sorted.

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Spouse

Benefit We will pay you a benefit on the Accidental Death of your Nominated Spouse whilst the

policy is in force.

We will give you information about whether the benefit is available, and the amount of the benefit, at the time you apply for your policy.

You, or your estate (if you and your

Nominated Spouse die as

a result of the same accident).

This benefit is provided to you at no extra cost. This can help give you some peace of mind that your loved ones are also protected against the unexpected.

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Premium Relief Benefit

If you are paying monthly premiums, you can select one month each year where we will not deduct a premium.

N/A Being relieved of one bill in a big spending month can take a lot of pressure off. For example, you could choose December if you want to spend a little extra on presents.

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EST

ATE PLANNING Accidental Death Benefit

We will pay your estate the Accidental Death Benefit if you die solely as a result of an accident while your policy is in force. You can apply for an Accidental Death Benefit between $50,000 and $1,000,000. The Accidental Death Benefit is only available if your application for the full Death Benefit under St.George Lifetime Protect policy is declined.

Your estate Your family may be able to continue living their current lifestyle. It can help them look forward to a secure future where they will be able to make real life choices based on needs and wants rather than affordability.

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Benefit When is the benefit paid? Who is it

Optional Bene fits FAMIL Y Child Care Benefit

We will pay $500 once per year (up to a maximum of $3,500 in total over the life of this benefit) if your Nominated Child(ren), who is aged from 0–7 years, suffers one of the illnesses or injuries (fractures and burns) specified in the Policy Document.

Examples of illnesses that are covered are Chickenpox and Meningococcal infection.

You While you soothe their aches and pains, this benefit might ease your financial woes by helping you cover: • medical expenses;

• lost day care costs;

• a babysitter or carer if you can’t get time off work.

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Education

Benefit We will pay a one-off benefit amount of $30,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal

Illness. Your estate if you die. You, if you suffer a Terminal Illness.

This benefit might be the difference between your child(ren) receiving the education you had planned for, and whatever the family can afford when you are no longer around to support them.

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Guardian

Benefit We will pay $50,000, in addition to your full Death Benefit or Terminal Illness Benefit, if you die or suffer a Terminal Illness.

Your estate if you die. You, if you suffer a

Terminal Illness.

This money could financially help the guardian/carer of your child(ren). It might allow them to cut back their work hours or perhaps relocate so they can be there for your child(ren).

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Family Cover Benefit

We will pay $20,000, in addition to your Terminal

Illness Benefit, if you suffer a Terminal Illness. You. You can dedicate this money to meeting the costs associated with treating a Terminal Illness.

Page 22 Bonus F eatur es ^ Financial Hardship Benefit

If you are experiencing Financial Hardship, we can waive your premium for up to 3 continuous months. You will not be eligible for any benefit due to any Illness, Injury, death or other event that first occurred whilst the Financial Hardship Benefit is in effect.

N/A Being short of cash for a little while shouldn’t mean you lose your safety net altogether. Let us know and we’ll put your cover on hold while you get your finances sorted.

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Spouse

Benefit We will pay you a benefit on the Accidental Death of your Nominated Spouse whilst the

policy is in force.

We will give you information about whether the benefit is available, and the amount of the benefit, at the time you apply for your policy.

You, or your estate (if you and your

Nominated Spouse die as

a result of the same accident).

This benefit is provided to you at no extra cost. This can help give you some peace of mind that your loved ones are also protected against the unexpected.

Page 24

Premium Relief Benefit

If you are paying monthly premiums, you can select one month each year where we will not deduct a premium.

N/A Being relieved of one bill in a big spending month can take a lot of pressure off. For example, you could choose December if you want to spend a little extra on presents.

Page 26

EST

ATE PLANNING Accidental Death Benefit

We will pay your estate the Accidental Death Benefit if you die solely as a result of an accident while your policy is in force. You can apply for an Accidental Death Benefit between $50,000 and $1,000,000. The Accidental Death Benefit is only available if your application for the full Death Benefit under St.George Lifetime Protect policy is declined.

Your estate Your family may be able to continue living their current lifestyle. It can help them look forward to a secure future where they will be able to make real life choices based on needs and wants rather than affordability.

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What is included

It is important to us that you understand exactly what St.George Lifetime Protect offers you. Please read this section carefully.

St.George Lifetime Protect provides a lump sum benefit amount to you or your estate should you suffer a Terminal

Illness or die#_.

• You can apply between the ages of 18 and 69. • No medical examination is required to apply – only a

simple health declaration is needed.

• You can choose a level of cover from $50,000 up to a maximum amount of $1,000,000.

• You can choose to add or remove additional Optional Benefits to keep your policy in line with your life stage (additional charges may apply)#_.

• You are covered right up to the Review Date prior to when you turn age 100^, as long as premiums have been paid on time.

• Your policy is guaranteed renewable to age 100, even if there is a change in your health, occupation or pastimes, as long as premiums are paid when due.

• Your beneﬁt will automatically increase annually by 3% on each Review Date to keep pace with the Consumer Price Index (CPI) changes unless you write to us requesting us not to.

• Accidental Death Benefit* cover will be offered if you do not qualify for a St.George Lifetime Protect full Death Benefit.

• You are covered worldwide, 24 hours a day.

#_{Only applies if you are accepted for the full Death Benefit}.

^ _{Expiry age for Optional Benefits may differ. Please refer to the Policy Document for}

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What isn’t included (exclusions)

We’ve told you about what is included. Now, we would like to tell you what isn’t covered. Please read this section carefully.

You are not covered:

• for suicide or attempted suicide (whether sane or insane) within 13 months of

• the Policy Commencement Date;

• the date we increase the full Death Benefit or the Accidental Death Benefit, for the increased portion of the benefit (other than for automatic increases); or • the date your policy was last re-instated, if your

policy has lapsed

This exclusion does not apply to the Child Care, Premium Relief and Financial Hardship Benefits; • if any of the specific exclusions relevant to the

Accidental Death Benefit or the Optional Benefits apply, as set out in the Policy Document;

• for any Optional Benefits if your full Death Benefit is declined and you continue with the Accidental Death Benefit only; or

• once the policy expires at the policy Review Date preceding your 100th birthday.

For the Accidental Death Benefit, Optional Benefits and Bonus Features, the individual conditions such as age restrictions or exclusions are explained in the

Policy Document. To obtain a copy, call 13 18 17,

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Making St.George Lifetime Protect

relevant to you

St.George Lifetime Protect offers benefits that you may find more beneficial at different stages of your life. The table below highlights some benefits that may fit within your life stage.

Life stage Benefit structure

The single life

Aahh, life is good and relatively simple. No ties, no responsibilities. We don’t want to burst your bubble, but bad things aren’t reserved for the old and weary. They can and do happen to the young and carefree as well.

Death & Terminal Illness Benefits Disability Benefit

Injury Protect Benefit I do

Congratulations! Getting married or being in a committed relationship is an exciting time. When you are planning how you are going to share the best years of your lives together, don’t forget to prepare for the worst times as well. Whether you tie the knot or commit to a life partner, you also bring together your finances including debts, assets, expenses, etc.

Death & Terminal Illness Benefits Funeral Benefit

DisabilityBenefit

Injury Protect Benefit Family time

From the moment your child is born, you can’t help but have hopes and dreams for their future. To protect your children’s future, you need to consider insuring both parents, regardless of whether you both earn an income or not.

Death & Terminal Illness Benefits Child Care Benefit

Funeral Benefit Education Benefit

Disability benefit Guardian Benefit

Family Cover Benefit Financial security

Whether you are in a relationship, a single parent, or divorced, you want to enjoy a comfortable lifestyle, own your own home or have a few extra dollars in the bank. You’ve reached a point in your life where you want to protect your financial security and to make sure you have protected everything that you’ve worked hard for. It would be heartbreaking to lose it all because you weren’t insured.

Death & Terminal Illness Benefits Education Benefit

Funeral Benefit Guardian Benefit

Final Affairs Benefit Family Cover Benefit

Disability Benefit Injury Protect Benefit Empty nesters

Your kids have moved out… peace at last! Now that the kids are more independent, your financial commitments are probably a lot easier to manage. However, if you have debts, are employed or building a retirement fund, insurance is still a valuable investment.

Funeral Benefit Injury Protect Benefit

Final Affairs Benefit Retirees

We seem to spend a lot of our lives dreaming about and planning for retirement. Whether your plans include a sea change, a big holiday, or just enjoying every day as it comes, make sure you have planned your insurance to cover your funeral and estate settlement costs.

Final Affairs Benefit

This table is a guide only and does not take into account your personal objectives, financial situation or needs. Please consider this information with regard to your own personal circumstances before acting on it.

Colour Guide

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Making St.George Lifetime Protect

relevant to you

St.George Lifetime Protect offers benefits that you may find more beneficial at different stages of your life. The table below highlights some benefits that may fit within your life stage.

Life stage Benefit structure

The single life

Aahh, life is good and relatively simple. No ties, no responsibilities. We don’t want to burst your bubble, but bad things aren’t reserved for the old and weary. They can and do happen to the young and carefree as well.

Injury Protect Benefit I do

Congratulations! Getting married or being in a committed relationship is an exciting time. When you are planning how you are going to share the best years of your lives together, don’t forget to prepare for the worst times as well. Whether you tie the knot or commit to a life partner, you also bring together your finances including debts, assets, expenses, etc.

DisabilityBenefit

Injury Protect Benefit Family time

From the moment your child is born, you can’t help but have hopes and dreams for their future. To protect your children’s future, you need to consider insuring both parents, regardless of whether you both earn an income or not.

Death & Terminal Illness Benefits Child Care Benefit

Funeral Benefit Education Benefit

Disability benefit Guardian Benefit

Family Cover Benefit Financial security

Whether you are in a relationship, a single parent, or divorced, you want to enjoy a comfortable lifestyle, own your own home or have a few extra dollars in the bank. You’ve reached a point in your life where you want to protect your financial security and to make sure you have protected everything that you’ve worked hard for. It would be heartbreaking to lose it all because you weren’t insured.

Death & Terminal Illness Benefits Education Benefit

Funeral Benefit Guardian Benefit

Final Affairs Benefit Family Cover Benefit

Disability Benefit Injury Protect Benefit Empty nesters

Your kids have moved out… peace at last! Now that the kids are more independent, your financial commitments are probably a lot easier to manage. However, if you have debts, are employed or building a retirement fund, insurance is still a valuable investment.

Funeral Benefit Injury Protect Benefit

Final Affairs Benefit Retirees

We seem to spend a lot of our lives dreaming about and planning for retirement. Whether your plans include a sea change, a big holiday, or just enjoying every day as it comes, make sure you have planned your insurance to cover your funeral and estate settlement costs.

Final Affairs Benefit

This table is a guide only and does not take into account your personal objectives, financial situation or needs. Please consider this information with regard to your own personal circumstances before acting on it.

Colour Guide

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Your policy from start

to finish

We understand that insurance can be a little overwhelming. This is why we’ve broken it down into these 5 simple steps. Just follow these easy steps to getting covered,

maintaining your cover and making a claim.

1. Applying for a policy

Read this PDS

Make sure you understand the St.George Lifetime Protect offer. This PDS should help you decide whether the insurance is right for you.

If we accept your application for insurance, we will send you a Policy Document, together with your Policy Schedule. Together, the Policy Document and your Policy Schedule will set out the terms and conditions of your contract of insurance. For a copy of the Policy Document free of charge, please go online to stgeorge.com.au or call us on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday. Your level of cover

You can choose the amount of the Core Benefit* from $50,000 up to a maximum of $1,000,000 and add any Optional Benefits to suit your life stage.

How to apply?

You don’t need to wait for our call. You can phone us on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday, and tell us the benefits you want to be covered for.

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Your Duty of Disclosure

You have a duty, under the Insurance Contracts Act 1984, to tell us every matter that you know, or could reasonably be expected to know, is relevant to our decision whether to insure you and, if so, on what terms.

The Duty of Disclosure applies before you enter into, extend, vary or re-instate a policy, and applies until the time when we issue a Policy Schedule or other written confirmation of the issue, extension, variation or re-instatement.

If any information provided to us changes (including any change to your health, occupation or pastimes) before we send the Policy Schedule or other written confirmation of cover to you, you must tell us.

The duty does not require disclosure of any matter: • that diminishes the risk to be undertaken by us; or • that is of common knowledge; or

• that we know or, in the ordinary course of our business, ought to know; or

• as to which compliance with your duty is waived by us. Non-disclosure

If you fail to comply with your duty and we would not have entered into the policy if the failure had not occurred, we may: • vary the policy to reduce the sum insured or to reflect

the terms that would have applied if you had complied with your duty; or

• treat the policy as never having existed if it is within 3 years of entering into the policy or your non-disclosure was fraudulent.

2. Commencing and maintaining your policy

Confirming your cover

We require you to answer a range of health questions which will determine if you qualify for a full Death Benefit under the St.George Lifetime Protect policy.

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Your policy starts

Cover under this policy starts on the Policy Commencement

Date shown in the Policy Schedule. Each year, we review

the premium that you pay. We do this on the anniversary of the Policy Commencement Date. We call this anniversary the Review Date.

Who is insured?

This is the person who we agree to insure and whose name is shown in the Policy Schedule as the Life Insured.

Who do we pay?

We will pay any eligible claims (except for a Funeral Benefit) to you or, in the case of your death, to your estate.

We will pay any eligible claims for a Funeral Benefit as either a reimbursement of funeral expenses to the payer of this service or pay the funeral service provider direct, on receipt of satisfactory proof. Any residual benefit amount will be made payable to your estate.

We will pay any eligible Spouse Benefit to you on the death of your Nominated Spouse. If you and your Nominated Spouse die as a result of the same accident, the Spouse Benefit will be paid to your estate.

Cooling-off period

Cancelling during the cooling-off period

After we issue your Policy Schedule, you have 30 days from the Policy Commencement Date to check that the policy meets your needs. This is known as the ‘cooling-off’ period. You can cancel the policy within the cooling off period for any reason by calling us on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday, or by writing to us at St.George Lifetime Protect, GPO Box 524, Sydney NSW 2001.

If you decide to cancel your policy within the cooling-off period, we will cancel your policy once we have received your request and will refund any premiums you have paid (less any amounts of tax or duties which we are unable to recover). Please note that you cannot exercise your right of cooling-off if a claim has been made under the policy. Cancelling after the cooling-off period

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While you hold a policy

If you hold a full Death Benefit, you can apply to increase or decrease your Core Benefit cover and add or remove Optional Benefits as your needs change. Your premium may change to reflect these changes.

If you hold an Accidental Death Benefit only, you can apply to increase or decrease your Accidental Death Benefit as your needs change. Your premium may change to reflect these changes.

To make any changes call Customer Relations on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday.

Consumer Price Index (CPI)

We will increase the amount of your full Death Benefit, Accidental Death Benefit and Terminall Illness Benefit by the automatic annual increase on each Review Date of this policy to keep pace with Consumer Price Index (CPI) changes. The automatic annual increase is 3%. We will notify you of the increase 30 days prior to the policy

Review Date.

You can decide not to have automatic annual increases You can tell us by writing to the below address, at least 30 days prior to a Review Date, not to increase the amount of your benefit, either for the particular year or for the remaining time of your policy.

St.George Lifetime Protect GPO Box 524, Sydney NSW 2001

Please note that you will lose your automatic right to increase your benefit if you tell us not to apply the automatic annual increase for 2 years in a row.

However, if you ask us to increase at any Review Date after this, we may restart the automatic annual increase, but we may ask you for more information about your health, occupation or pastimes before we do so. If any of these have changed, we may refuse to restart the automatic annual increase.

3. Your costs

Premium

We calculate your premium when your policy begins. Your premium depends on a number of factors, including: • the amount of your full Death Benefit or the amount

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• the Optional Benefit(s) you have selected (available if you qualify for the full Death Benefit only) (for example, as a general rule, the more Optional Benefits you have, the higher your premium);

• your age;

• smoking status (for example, smokers will pay a higher premium);

• your gender;

• whether the Premium Relief Benefit has been applied; • the frequency at which you choose to pay your

premium; and • the annual policy fee.

Your premium includes all current taxes and stamp duty. St.George Lifetime Protect is a stepped premium policy. On the Review Date each year your premium will increase with age and automatic annual increases. We will inform you of your new premium in an anniversary letter 30 days prior to the new premium taking effect.

Calculating your premium

To calculate your premium, we add together the premium for each benefit on your policy and then add the policy fee. You can pay premiums monthly or annually.

If you increase an existing benefit or add a new benefit between Review Dates and you are paying annually, the additional premium that you have to pay will be the additional annual premium, multiplied by the number of months from the date this benefit or increase started to the next Review Date, divided by 12.

If you increase an existing benefit or add a new benefit between Review Dates and you are paying monthly, your monthly premiums will increase from the next monthly premium that is payable after the benefit or increase started. If you reduce or remove an existing benefit and you are paying annually, any surplus premium paid for that benefit from the date of cancellation to the next Review Date will be refunded to your nominated bank account.

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Policy fee

We charge a policy fee which is included in your premium. If you pay annually the policy fee is $78 or if you choose to pay monthly, the policy fee is $6.50 per month. When a Premium Relief Benefit#_{applies, your policy fee will be} $7.10 per month (based on your premium being paid over 11 months, instead of 12 months). The policy fee is not subject to automatic annual increases.

Changes to your premium rates, discount factors and policy fee

Premiums, discount factors and the annual policy fees are not guaranteed. These can only be changed after we have given 3 months written notice to all policy holders who have this version of the policy. In the event of war or invasion involving Australia, we may give immediate notice of a premium change.

When will you have to pay premiums?

Premiums are payable effective from the Policy

Commencement Date. Premiums are charged monthly

or yearly once the cover has commenced. You can pay by MasterCard®_{*, Visa, automatic debit from your bank} account, or by any other method that we may make available. Card Payment Fees

In addition to the premium, we may recover other charges that we incur for direct debit or credit card payments that you make.

What happens if you don’t pay your premiums when they are due?

We will write and tell you if your premiums are overdue. We will give you the time specified in the notice to pay this amount. If you do not pay your premium by the due date, we may cancel your policy by giving you 30 days written notice of cancellation.

Re-instatement

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4. If you need to make a claim

To make a claim, you or your ‘legal personal representative’* must call us on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday within 6 months or as soon as reasonably possible after:

• the Life Insured’s or Nominated Spouse’s death; • the diagnosis of a Terminal Illness; or

• the Illness or Injury giving rise to your claim begins and we will advise you or your legal personal representative of the required documents.

In respect of the Child Care Benefit, you must tell us within 30 days of your Nominated Child(ren)s’ illness or injury. Please see ‘Benefit Payable’ on page 17 of the

Policy Document.

The earlier you contact us, the sooner we can help – which is why you have insurance in the first place.

When you or your legal personal representative makes a claim, you or they authorise us to obtain more information from another source.

Supporting Evidence

In addition to claim forms, we may from time to time require you to provide reports or certificates from the Doctor(s) providing treatment to you about the continuing Illness,

Injury or disability. If claims are based on overseas reports

or certificates, they must be translated into English by a certified translator. You must do so at your own expense. We may also require proof of the Life Insured’s age. Please note that we rely on the information provided during a claim. If you or your legal personal representative act fraudulently, we may cancel the policy or any of its benefits and not pay any benefits.

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No benefit will be paid until such completed documents that we may require have been delivered to us at our office in Sydney. At any time after we receive the claim forms, we may ask for more information. You or your legal personal representative must give us the information we need. We will pay the reasonable costs of getting the information that we ask for.

Misstatement of age

We can ask for proof of your age. You or your legal personal representative must give us that information. If, when you applied for insurance, you incorrectly stated your age, we will either (as applicable):

• refund to you any premium you have paid above what you should have paid plus interest; or

• reduce your benefit to what it would have been if the premium you paid us was based on your true age. Payment of claims

We will assess and pay your claim in accordance with the

Policy Document, based on:

• the benefit shown in the Policy Schedule we sent to you or the latest notice that we have provided to you, whichever is later; plus

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5. When does your policy end?

Your policy ends on the date that is earliest of the following: • we pay a full Death Benefit, Terminal Illness Benefit or

Accidental Death Benefit;

• your death, whereby only the Funeral Benefit is paid or no claim is valid;

• your full Death Benefit is reduced to zero as a result of an Advancement of your full Death Benefit payment; • you ask us to cancel the policy;

• we cancel this policy because you have not paid your premium;

• the Review Date prior to you reaching age 100 years; or • we cancel the policy as permitted by relevant legislation.

We issue this policy on the condition that you only hold one policy from us insuring you against your death or conditions similar to those under St.George Lifetime Protect. If another St.George Lifetime Protect or similar policy covering the same conditions is already in place, we will void this policy from the Policy Commencement Date if it is

entered into after the initial policy. We will refund

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Other important

information

Notices

We will send notices to the last address that you give to us. If you move, you need to tell us your new address. If you fail to advise us of your change of address and we issue notices, we will say that you receive a notice on the date that you would have received it in the ordinary course of the mail and at the last address that you gave us. Currency

All dollar ($) amounts referred to are in Australian currency. Claims and premiums are payable in Australian dollars. Where we put your money

We pay your premiums into a statutory fund called the Westpac Life Insurance Services Limited Statutory Fund Number 1, and benefits under your policy are paid out from that fund.

The Life Insurance Act 1995 (Cth) contains rules designed

to protect the money in the fund. No cash value

This is not a savings plan or investment policy. This product does not allow you to share in any profit or surplus and your policy does not have surrender or cash value.

Taxation

Generally, premiums are not tax deductible, nor are any benefits taxable.

This is a general statement only and is based on present tax laws and our interpretation of those laws. Your individual situation may differ and you should seek professional advice.

We will deduct from any benefit paid under the policy any tax, duties or levies we are required by law to deduct. Governing laws

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We are here for you along

the way

Resolving your complaints

We’re constantly striving to provide our customers with the best possible service, and we’ll do our best to resolve any complaint you have quickly and fairly.

So if you do have a complaint about your policy, our service, the way the policy was sold to you, or the way your claim is being handled, here’s what you should do. Step one

We ask that you first contact one of our Customer Relations Consultants on 13 18 17, 8am to 6.30pm (Sydney time), Monday to Friday to discuss your complaint. If the Customer Relations Consultant is unable to resolve the matter, they’ll refer it to a Senior Officer or Manager. The Senior Officer or Manager will aim to resolve your complaint within 10 business days.

However, if we consider that further information, assessment or investigation of the complaint is required, we will agree reasonable alternative timeframes with you. Step two

If you’re still not satisfied after the Senior Officer or Manager has investigated the issue, you may ask for us to refer the dispute to our Internal Dispute Resolution Officer who will review the matter.

The Internal Dispute Resolution Officer’s contact details are:

Internal Dispute Resolution Officer Westpac Life Insurance Services Limited Mail GPO Box 524, Sydney NSW 2001 Phone 13 18 17

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Step three

If we are unable to satisfactorily resolve your dispute, you can refer your dispute to the Financial Ombudsman Service (FOS) at any time. This is a free independent dispute resolution service for customers who have a life insurance dispute. The Financial Ombudsman Service’s contact details are:

Financial Ombudsman Service

Mail GPO Box 3 Melbourne VIC 3001 Phone 1300 780 808

Fax (03) 9613 6399

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We respect your privacy

In this section, “we” also refers to St.George and other companies in the Westpac Group.

We are committed to protecting and maintaining the privacy, accuracy and security of your personal information.

Why we collect your personal information

We collect personal information from you to process your application, provide you with your product or service, calculate your premium, assess any claims made by you and manage your product or service. We may also use your information to comply with legislative or regulatory requirements in any jurisdiction, prevent fraud, crime or other activity that may cause harm in relation to our products or services, and help us run our business. We may also use your information to tell you about products or services we think may interest you. If you do not provide all the information we request, we may need to reject your application or claim, or we may no longer be able to provide a product or service to you.

Disclosing your personal information

We may disclose your personal information to other members of the Westpac Group and its reinsurers, anyone we engage to do something on our behalf such as a service provider, and other organisations that assist us with our business.

We may disclose your personal information to an entity which is located outside Australia. Details of the countries where the overseas recipients are likely to be located are in the St.George Privacy Policy.

As a provider of financial services, we have obligations to disclose some personal information to government agencies and regulators in Australia, and in some cases offshore. We are not able to ensure that foreign government agencies or regulators will comply with Australian privacy laws, although they may have their own privacy laws. By using our products or services, you consent to these disclosures.

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Other important information about privacy

We are authorised to collect personal information from you by certain laws. Details of these laws are in the St.George Privacy Policy.

The St.George Privacy Policy is available at stgeorge.com.au (search “privacy policy”) or by calling 13 33 30. It covers: • how you can access the personal information we hold

about you and ask for it to be corrected;

• how you may complain about a breach of the Australian Privacy Principles, or a registered privacy code and how we will deal with your complaint; and

• how we collect, hold, use and disclose your personal information in more detail.

The St.George Privacy Policy will be updated from time to time.

Where you have provided information about another individual, you must make them aware of that fact and the contents of this Privacy Statement.

We may use your personal information to contact you or send you information about other products and services offered by the Westpac Group or its preferred suppliers.

Communications from us

If you do not wish to receive any further marketing communication from any member of the Westpac Group about products and services, please:

Call 13 33 30

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Glossary

In this policy, some words and terms have special meanings: Accidental Death means the Life Insured sustains physical damage (a bodily injury) to their body which is a result of a single, external and traumatic accident that is unexpected, and the event (the bodily injury) is the sole cause of the

Life Insured’s death within 12 months of the accident.

Accidents that result directly or indirectly from Illness are not covered.

Advancement means a pre-defined amount of your full Death Benefit that is paid once your claim is validated by us. The payment reduces the full Death Benefit or Terminal Illness Benefit.

Australian Resident means Australian residents that hold Australian citizenship, New Zealand citizenship or permanent Australian residency.

De-facto Relationship means you and your partner (who may be of the same or opposite sex) have lived together for a minimum of 24 months on a continuous and bona fide domestic basis.

Doctor means a person who:

• is a registered medical practitioner in Australia or New Zealand (or is a medical practitioner of another country with qualifications acceptable to us); and • is not:

• the Life Insured; or

• a spouse, parent, child, sibling, or any other relative or business partner of the Life Insured.

Endorsement Letter means a document that we issue to you which sets out any changes to your insurance details from the original Policy Schedule and forms part of your contract with the Insurer.

Financial Hardship means that during the relevant period you are experiencing financial hardship due to:

• being involuntarily unemployed; or

• being on sabbatical, maternity, paternity or unpaid long term leave from work.

Illness means sickness or disease suffered by the Life

Insured, including an abnormal condition of an organism

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Injury means a bodily injury which is sustained by the

Life Insured.

Insurer means Westpac Life Insurance Services Limited ABN 31 003 149 157 AFSL No.233728.

Life Insured means the person whose life is insured. There may only be one Life Insured. We also refer to this person as “you” or “your”.

Nominated Child means your biological child, your step-child, your adopted child, or a child for whom you or your partner (including De-facto Relationship) are a legal guardian of and who is under your care, as nominated by you in your application for insurance.

Nominated Spouse means your partner (who may be of the same or opposite sex) who you nominate for the Spouse Benefit and are either married to or in a De-facto

Relationship with. There can only be 1 partner nominated

at any one time during the policy.

Policy Commencement Date means the date we accept your application for insurance and issue you with a Policy Schedule.

Policy Document means the St.George Lifetime Protect Policy Document dated 24 November 2014.

Policy Schedule means the most recent document that we issue to you which sets out the details of the insurance you have chosen with the Insurer and we have agreed to provide to you, confirming your cover, Policy

Commencement Date and any subsequent endorsements.

Review Date is the anniversary of the date insurance cover under your policy started.

St.George means St.George Bank - A division of Westpac Banking Corporation ABN 33 007 457 141.

Terminal Illness means that you are diagnosed by a Doctor approved by us, as having life expectancy of less than 12 months from notice of claim.

We, us and our means the Insurer, except where otherwise indicated.

You and Your means depending on the context, either the person applying for cover before St.George Lifetime Protect is purchased, or the Life Insured named in the

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