Specific injury cover: revisiting the benefits.
We’ve been stoked to hear all your positive feedback about Specific injury cover – and the strong submission numbers back up how valuable it is.
As our newest cover type, it helps provide extra financial relief if the insured person suffers a specific injury that disrupts their daily life by paying out a lump sum where the insured person suffers any one of the 30 defined specific injuries as a result of an accident.
We’ve pulled together a quick reminder of the benefits Specific injury cover offers – available now to include in new policies.
Powerful protection.
These core features define how Specific injury cover works – outlining eligibility, how benefits are calculated, and the scope of financial support it can provide:
- Available for new policies.
- Pays a lump sum when one of 30 defined specific injuries results from accident.
- Claim amounts from 2 to 12 times the cover amount depending on the specific injury meaning from $1,000 up to $60,000 depending on the cover amount selected and the specific injury suffered.
- Cover amounts from $500 to $5,000.
- Maximum claimable amount: $60,000 per insured person, per policy year.
- Can be selected where there is also at least one qualifying cover.
Flexible, accessible protection for more clients.
Specific injury cover adds real value by making cover more accessible to a wider group of clients, without compromising on support.
- Available to some clients who may not usually be eligible for income protection cover but are eligible for Specific injury cover. There just needs to be at least one qualifying cover.
- Available for both personal and business needs.
- A solution for those seeking a more affordable option.
- No offsets for ACC payments.
- Can help provide extra financial support towards everyday bills or recovery costs.
- Coverage available up to age 70 (with at least one qualifying cover) depending on the qualifying covers included.
Quick reminder: qualifying covers.
Specific injury cover must be combined with at least one of the following covers, at or above the minimum sum insured or benefit level:
| Qualifying covers | Minimum sum insured/benefit amount |
|---|---|
| Life cover | $100,000 sum insured |
| Survivor’s income cover | $100,000 notional sum insured |
| Trauma cover - standalone | $100,000 sum insured |
| Trauma multi cover - standalone | $500,000 sum insured |
| Total and permanent disability cover - standalone | $100,000 sum insured |
| Income protection cover - agreed value | $1,500 per month |
| Income protection cover - indemnity value | $1,500 per month |
| Rural key person cover (Platinum Plus and Platinum Plus Level Term only) | $1,500 per month |
| Key person cover (Platinum Plus only) | $1,500 per month |
| Monthly mortgage repayment cover (Mortgage Protector only) | $1,500 per month |
Talk to your Business Manager to learn more, and consider including Specific injury cover in your next policy illustration.