The following are answers to some common questions we get about income protection and business expenses claims. These claims pay out a monthly benefit. 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 at any time 1800 024 812.
Your policy will remain in force, so you will stay insured, and your income protection premiums will be waived until your claim is finalised.
Benefits are assessed on a monthly basis in line with your policy terms and conditions. Monthly progress claim forms help us to understand how your condition is progressing.
Your Case Manager will contact you to explain our decision and also provide our reasons in writing.
The policy owner we have registered on our records.
Generally benefits are paid from the end of the waiting period, monthly in arrears. However, there are some benefits that are payable during the waiting period.
Depending on your condition, your Case Manager will advise you when your benefits are payable.
We will pay the monthly benefit applicable when your condition satisfies the terms and conditions of your policy. Your Case Manager will confirm the amount payable.
Cheque or direct credit to your nominated account.
Yes, you need to continue to pay premiums while your claim is being assessed.
Generally, you restart paying your Income Protection premiums once your benefit payments cease. Your Case Manager will let you know when premium payments are to restart and the amount due.
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.
If you remain dissatisfied following a review under our internal dispute resolution process, you may wish to contact the Financial Ombudsman Service.
The internal dispute resolution process must be exhausted first. We will provide you with information in relation to the Financial Ombudsman Service including contact details.
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.
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