About life insurance

While our team is available and happy to answer any questions you might have, we appreciate that sometimes it’s faster simply to find the answer yourself. That’s why we’ve created this frequently asked questions page – so that all the most commonly asked questions about Encompass Protection can be found in one central place.

Continuity of cover means that we will renew your Encompass Protection policy each year until it expires, provided premiums are paid when due. This means we won’t cancel cover, place further restrictions on it or increase premiums because of changes to the insured person’s health, occupation or pastimes.

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Interim accident cover is designed to provide you with limited cover while your application is being assessed by us and is available free of charge. It starts as soon as we receive your fully completed application form, a completed personal statement and a completed premium deduction authority.

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If you cancel your Encompass Protection policy during the cooling-off period and you haven’t made a claim, your policy will be cancelled from the commencement date, and we’ll refund any premiums you’ve paid. If your cover is inside super, your refund may need to be preserved within super.

If you cancel your policy after the cooling-off period, premiums aren’t refundable.

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We know life is constantly changing, and you may need to make changes to your Encompass Protection policy from time to time. In many cases, general policy alterations such as changes of address or bank account details can be completed over the phone. For more complex policy alterations, we may require additional information. Either way, simply call us on 1300 476 030 or email us at customer@encompassprotect.com.au and we’ll make the process as easy for you as possible.

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The setup of your Encompass Protection policy depends on many variables, such as the cover type(s) being applied for, the cover amount and any additional information we may need to assess your application including your current health and medical history. At times, we may need to wait for information to be returned to us from other providers such as your doctor(s).

Importantly, purchasing life insurance with the guidance of your financial adviser means you’re receiving expert advice and your life insurance policy is tailored to your individual needs.

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Your Encompass Protection policy can be owned by a super fund or outside super, by you or a legal entity. Your financial adviser can help you decide which ownership option is best for you.

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A beneficiary is the person (or persons) you choose to receive your benefit if you pass away while you’re covered by a life insurance policy. If you’re choosing more than one beneficiary, you’ll need to let us know what proportion of the total benefit amount you’d like each beneficiary to receive. If you wish to add or update a beneficiary nomination for your policy, you can do so at any time. Simply call us on 1300 476 030 or email us at customer@encompassprotect.com.au

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Level premium ceased being available on 16 February 2024.

With level premiums, the insured person’s premium is calculated on the applicable premiums for the insured person’s age at the cover commencement date.

Level premiums will usually only increase each year in line with any increase in their sum insured, including increases as a result of Indexation Benefit (if applicable). However, level premiums are not fixed, and the insurer can increase as required.

The cost of your insurance cover is not guaranteed, and the insurer can change the premium rates. Changes are made to a group of policies and the insurer won’t single you out for a change in premiums.

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With stepped premiums, the insured person’s premium is re-calculated on each policy anniversary based on their age and the applicable premium rate on that anniversary. Stepped premiums will usually increase each year in line with the insured person’s age and any changes made to their levels of cover, or if their sum insured increases as a result of Indexation Benefit (if applicable). Premium rates can change and are not guaranteed.

The insurer can change the premium rates. If changes are made to premium rates for a group of policies, the insurer won’t single you out for a change in premiums.

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Income Protection Cover replaces up to 70% of the insured person’s income if they’re unable to work due to illness or injury. This can help you cover day-to-day expenses such as school fees or mortgage and car repayments and allows you to focus on your recovery.

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Critical illness cover provides a lump sum payment if the insured person suffers a critical illness. You can use this money for any purpose, whether it’s to seek specialised medical treatment, reduce debts or make necessary lifestyle changes.

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TPD cover provides a lump sum payment if the insured person becomes totally and permanently disabled. This can help you pay medical expenses or cover the cost of necessary lifestyle changes.

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Life insurance, sometimes also referred to as life cover, provides a lump sum payment if the insured person dies or is diagnosed with a terminal illness. You can use this to pay off debts such as a mortgage, to cover daily living expenses or save it for future needs such as school fees.

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