Life, TPD and Trauma claims

The following are answers to some common questions we get about claims that pay out a single benefit (lump sum): Life, TPD and Trauma. Of course, if you have any further questions, or questions about your particular policy you can speak to your financial adviser, or call our claims team on 1800 024 812.

The claims process

What is a certified copy?

It is a signed copy of an original document certifying that the original document has been sighted and the copy is a true and complete copy of the original.

A document can be certified by number of officials, including a Justice of the Peace, Commissioner of Affidavits, Notary Public or solicitor.

Why is my original policy document required?

The policy document, including the policy schedule and Memorandum of Transfer is required as proof that the policy ownership has not been transferred or assigned to another party.

What if I’ve lost my policy document and policy schedule?

We can still assess your claim. However, given the policy document has been lost we are required under the current legislation to advertise the loss of a policy and wait 10 days from that date prior to issuing a replacement policy. A policy processing fee may be payable.

What happens to my policy if the claim is accepted?

Depending on your particular policy, the policy may cease once the benefit has been paid. Your Case Manager will advise you whether or not this is the case.

What happens if my claim is not accepted?

Your Case Manager will contact you to explain our decision and also provide our reasons in writing.

Benefits and premiums

Who will be paid the sum insured?

The policy owner we have registered on our records.

When will I be paid?

You will be paid after your claim has been accepted.

How much will I be paid?

If we accept your claim, we will pay the sum insured, your Case Manager will confirm the amount payable.

How will I be paid?

Cheque or direct credit to your nominated account.

Do I need to pay my policy premiums while my claim is being assessed?

Yes, you need to continue paying premiums while your claim is being assessed.

Do I need to pay my policy premiums once my claim is accepted and I’ve received my benefit?

Depending on your particular policy, the policy may cease once the benefit has been paid. If this is the case you will not need to pay further premiums. Your Case Manager will advise you if you are required to pay ongoing premiums.

Are the premiums of my other policies with the Suncorp group automatically waived?

No, not all policies contain a waiver of premium benefit. Your Case Manager can advise you whether your policy contains a waiver of premium benefit.

Additional options and benefits

My policy includes a Buy Back Option. What is Buy Back?

Buy Back gives you the ability to repurchase an insurance benefit 12 months after benefits have been claimed and paid to you under this policy. The insurance can be purchased without the need to provide additional medical information. The type of insurance you can buy back will depend on the specific policy you have and the amount of cover.

Your Case Manager will let you know the terms of any Buy Back Option available to you.

Tax

Do we deduct tax from my benefit payments?

We don’t usually deduct tax.

We recommend you seek independent tax advice in respect of your personal circumstances.

Dispute resolution process

What is the internal dispute resolution process?

If you are dissatisfied with our decision in relation to your claim, you can request a review under our internal dispute resolution process. Under this process your concerns will be reviewed by a third party who was not the initial decision maker.

What is the external dispute resolution process?

If you remain dissatisfied following a review under our internal dispute resolution process, you may wish to contact the Financial Ombudsman Service or, if Suncorp Master Trust owns your policy the Superannuation Complaints Tribunal.

More information

Who do I contact if I have further questions?

  • Your financial adviser.
  • You can speak with your Case Manager on 1800 024 812.
  • You can fax your Case Manager on 1300 766 773.

This is general advice and has been prepared without taking account of your objectives, financial situation or needs. Therefore, in deciding whether to acquire or continue to hold this financial product, you should consider the appropriateness of the advice by having regard to your own personal objectives, financial situation and needs. Please consider the Product Disclosure Statement (PDS). Contact us for a copy.

Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. We are committed to helping customers get - and stay - healthy for life, by giving customers access to the Asteron Life Wellbeing Program. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.