Important Notice

On 9 August 2021 Westpac announced it has agreed with TAL Dai-ichi Life Australia Pty Limited (“TAL”) to sell Westpac Life Insurance Services Limited and enter an exclusive 20-year strategic alliance for the provision of life insurance products to Westpac’s Australian customers. Westpac Group expects this transition will take effect in the second half of 2022. Our agreement with TAL will mean we can continue to help your clients with their life insurance needs. You can find out more by reading the FAQs.

BT Protection Plans product range

BT Protection Plans include a range of cover options for business owners, employees, families, individuals with high net worth or in specialised professions, and those planning their estates.

Life insurance product & regulatory updates

Understand the key product and process changes that you can expect from BT in September and October 2021.

Term Life pays a benefit if the insured person dies or suffers a terminal illness. If the insured person is the main breadwinner in the family, it can be used to protect their family’s future.

Total and Permanent Disability Benefit is available as a standalone policy, as an additional benefit on a Term Life Policy, or under Flexible Linking. There are four definitions of TPD cover.

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

An Income Protection policy provides your client with a monthly benefit to replace a portion of the income lost when the insured person is unable to work at their full capacity due to sickness or injury.

Business Overheads can be vital to the survival of a business. It pays a monthly benefit to help cover the day to day costs of running a business for up to 12 months, if the insured person is disabled because of sickness or injury and is unable to work at their full capacity in their business.

Documents and downloads

Speak to your Business Development Manager or call BT Adviser Services

A target market determination has been made for Protection Plans products. Please visit bt.com.au/tmd for any of our target market determinations.

The Insurer and Issuer is Westpac Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728, except for Term Life as Superannuation, Income Protection as Superannuation and Income Protection Assured as Superannuation, issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 as Trustee of Retirement Wrap ABN 39 827 542 991. They are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714, who does not guarantee the insurance. This information does not take into account your personal circumstances. Terms and conditions, and limitations and exclusions apply. Please read the Product Disclosure Statement to see if this insurance is right for you.

© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714