For new stepped premium BT Protection Plans lump sum policies

The following is general information only and does not take account of any of your client’s objectives, financial situation or needs.

During these uncertain times, protecting your clients is vital but we recognise that affordability may be an issue. So to help you and your clients, we are offering 25% discount* until 30 September 2021 (unless withdrawn earlier) on the first year’s premium for new BT Protection Plans Term Life, Total and Permanent Disablement (TPD) and Living Insurance policies with stepped premiums.

That’s effectively 3 months of free cover. Plus the 25% discount* applies in addition to all other available discounts. 

Please note: the 25% discount* applies to first year premiums only and is not covered under the 2 year rate guarantee. Your client’s premium will change once the discount concludes.


How to access the offer 

The 25% discount* will be automatically applied through BT’s quote software LifeCENTRAL+, and through premiums modelled in IRESS Risk Researcher and other adviser research software.

We have a comprehensive toolkit to help you manage clients as they come to the end of their premium discount period after year 1.

For more information about the offer, refer to our Frequently Asked Questions (FAQs).


With flexibility in their structure and ownership, BT Protection Plans are available inside and outside superannuation, on and off platform and through flexible linking arrangements.

 

Our award-winning1 Underwriting and New Business teams are here to help you protect your clients faster.

 

Our Claims team has been recognised and awarded for innovation, service and experience2, with award-winning health support programs available3.

Term Life pays a benefit if the insured person dies or suffers a terminal illness.

There are four definitions of Total and Permanent Disability (TPD) cover. TPD is available as a standalone policy, as an additional benefit on a Term Life policy, or under Flexible Linking. Some definitions are easier to claim under than others and there are pricing differentials.

It provides a lump sum payment in the event of a serious illness or injury. It’s available as a standalone policy, as an additional benefit on a Term Life policy, or under Flexible Linking.

Frequently Asked Questions

Which policies are eligible?

The 25% discount* applies to new BT Protection Plans Term Life, Total and Permanent Disablement (TPD) and Living Insurance policies, both standalone and linked policy structures.

Which premium structures are eligible?

The 25% discount* applies to eligible stepped premium policies. Level premium policies as well as combined stepped and level premium policies are ineligible. The policy fee is not discounted.

Are existing policy holders eligible?

The 25% discount is available on all eligible new BT Protection Plans policies only. If existing policy holders apply for a new eligible policy on or prior to 30 September 2021, where the subsequent application is lodged prior to 31 October 2021, they will be eligible for the 25% discount*.

How do I access the offer?

The 25% discount* will be automatically applied to your quotes in LifeCENTRAL+, premiums modelled in IRESS Risk Researcher as well as other adviser research software.

When does the offer conclude?

The 25% discount* offer concludes 30 September 2021 (unless withdrawn earlier).

What happens when the offer concludes?

The 25% discount* applies to first year premium only and is not covered under the two-year rate guarantee. Your client’s premium will revert to standard pricing from your clients first review date.

Which policies are ineligible?

The 25% discount* does not apply to Income Protection, Business Overheads, Key Person Income, Children’s benefit, Needlestick benefit or BT Reserve policies.

How does the offer impact existing policy discounts?

The 25% discount* applies in addition to all other available discounts on eligible policies.

What happens if my client does not want to receive the offer?

As the 25% discount* is automatically applied to any quotes created for eligible policies, the discount cannot be opted out.

Is there an impact on adviser commission?

Adviser commission is payable on the discounted first year premium.

Get a quote now from LifeCENTRAL+. If you have any questions, speak to your Business Development Manager, refer to our FAQs section above or call BT Adviser Services.

*25% discount on the first year's premium only. Please consider the ongoing premium and likely future increases in premium, in deciding whether to take out the insurance. Unless withdrawn earlier, the discount is only available for quotes generated on or prior to 30 September 2021, where any subsequent application is lodged prior to 31 October 2021. The 25% discount applies to first year premiums only and is not covered under the two (2) year rate guarantee. Your client’s premium will change once the discount concludes.

The Insurer of BT Protection Plans is Westpac Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728 ('the Insurer'). BT Protection Plans are issued by the Insurer except for Term Life as Superannuation and Income Protection as Superannuation which are issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 ('BTFM') as trustee of the Retirement Wrap ABN39 827 542 991. The Insurer and BTFM are wholly owned subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 ('the Bank'). The Bank does not guarantee payments under the insurance. Please read the Product Disclosure Statement available at bt.com.au to see if this insurance is right for your client. This information does not take into account any personal objectives, financial situation or needs.

Awards are opinions only. They are not recommendations and are only one factor to be taken into account when deciding to acquire, dispose or hold interest in a BT product. Awards are current as at the date of publication but are subject to change. 
1. AFA Life Company of the Year Awards (2018 & 2019) – Underwriting and New Business Team of the Year
2. ALUCA Life Insurance Excellence Team Awards (2019) – Claims Team of the Year
3. FSC Life Insurance Awards (2019): Innovation in Retail Life Insurance – Claims Cancer Assistance Program. AFA/Beddoes Consumer Choice Awards (2018): Best in Return to Health and Wellness; Best Focus on Early Intervention