Insurance never pays

BT Protection Plans are arranged by BT Portfolio Services Limited and the insurance is provided by Westpac Life Insurance Services Limited.

How much did BT pay out last year?

In 2010, the Insurer of BT Protection Plans paid over $101 million in life insurance claims, providing financial assistance to over 1,020 customers and their families during difficult times. These claims covered a diverse range of ages and industries.

That's:

• around $62 million in claim to help families cope with the loss of a loved one
• $30 million to help our policyholders manage through sickness and injuries
• regular payments totalling more than $10 million paid to our income protection customers

We see all kinds of claims, from people across the country.

Age

During 2010 we paid claims on a national basis for people aged as young as 21 and as old as 90. The average age of people we paid claims to was 53.

Occupation

We paid claims to people working in a wide range of fields. This included those in the building, farming and mining industries as well as white collar professionals.

Gender

Around 39% of our claims were paid to females.

Here are just a few examples of the claims we paid:

¹ APRA Half Yearly Life Insurance Bulletin, June 2010 (issued 5 January 2011).