PERSONAL ACCIDENT INSURANCE DESIGNED TO PROTECT THOSE OVER 55

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1 1 INSURANCE DESIGNED TO PROTECT THOSE OVER 55

2 WHY CHOOSE HCF INSURANCE? Personal Accident Insurance pays a cash benefit of: up to $15,000 if you suffer one of the injuries specified such as fractures, dislocations or burns, depending on the level of cover selected, or up to $50,000 if you die as a result of an accident. Some of the features of this product include: Guaranteed acceptance for anyone who is a permanent resident of Australia and aged between 55 and 74 Premiums won t increase with age Cash is paid directly to you to be spent however you choose Easy to apply - no medical questionnaires or examinations Benefits are paid on top of any other insurance or accident scheme. SPECIFICALLY DESIGNED FOR THOSE 55 AND OVER WHO CAN APPLY? You can apply if you are: aged between 55 and 74; and a permanent resident of Australia. CHOOSE COVER OF $25,000 OR $50,000 From only $3.19 per week with no age increases 125,000 INJURY CASES AMONG OLDER AUSTRALIANS EACH YEAR 5.2 DAYS is the average length of stay for older Australians in hospital 9,000+ HIP FRACTURE RELATED HOSPITALISATIONS OCCUR EACH YEAR FOR AUSTRALIANS AGED 65 TO 84 BEVERLEY S STORY In 2009 my husband passed away; it was during this time I contacted HCF and spoke with a member care consultant about my existing health cover. I no longer needed the level of cover I was insured for and opted to reduce my cover and add Personal Accident Insurance which was especially designed for me. I enjoy physical activities and living an active life, so every Wednesday my friend and I would cycle along the Tweed River. During one of our rides I fell from my bike onto the road and fractured my forearm. The injury required surgery and returning home I found myself unable to take part in my household tasks and regular appointments. Knowing I had accident insurance to cover my injury gave me peace of mind, my claim was paid promptly and enabled me seek additional support during my recovery. 2 3

3 4 COMBINED PRODUCT DISCLOSURE STATEMENT AND FINANCIAL SERVICES GUIDE BENEFITS Personal Accident Insurance is available to permanent residents of Australia aged between 55 and 74 years of age. The total of all benefits paid under your policy for each person covered is the Benefit Amount you select when you apply for your policy. When that amount has been paid, your policy will cease. INJURIES COVERED FRACTURES BENEFIT AMOUNT $25,000 $50,000 Neck or Skull $7,500 $15,000 Hip or Pelvis $7,500 $15,000 Thigh $7,500 $15,000 Kneecap, Lower Leg, Ankle, Heel $3,000 $6,000 Lower Jaw, Cheekbone $3,000 $6,000 Shoulder, Upper Arm, Elbow, Lower Arm, Wrist $3,000 $6,000 Sternum, Collarbone $3,000 $6,000 Vertebrae (each) $1,750 $3,500 Hand (excluding Fingers, Thumbs and Wrists), Foot (excluding Toes and Heel) $1,750 $3,500 Coccyx $1,750 $3,500 Nose $750 $1,500 Ribs (each) $750 $1,500 Toes, Thumbs or Fingers (each) $250 $500 DISLOCATIONS (REQUIRING SURGERY UNDER ANAESTHESIA) Hip, Knee, Wrist, Elbow, Ankle, Shoulder Blade, Collarbone or Jaw $5,000 $10,000 Thumb, Fingers or Toes $1,000 $2,000 BURNS (2ND OR 3RD DEGREE) 27% or more of the body surface $7,500 $15,000 18% or more of the body surface $5,000 $10,000 9% or more of the body surface $2,500 $5,000 5% or more of the body surface $1,500 $3,000 ACCIDENTAL DEATH $25,000 $50,000 PREMIUMS AND EXCLUSIONS PREMIUMS You can choose from two levels of cover and the premium depends on the level you choose. Your premium does not increase with age. BENEFIT AMOUNT MONTHLY PREMIUM $25,000 $13.80 $50,000 $27.40 Premiums may only increase if the increase applies to all Personal Accident Insurance policyholders and notice of any change will be advised to you at least one month in advance. Your premium must be paid when due to prevent your policy lapsing. Your premium will also include any stamp duty charged by your state government as well as any taxes that may be levied by state and federal governments. TAXATION Generally, insurance premiums are not tax deductible and benefits are paid free of personal tax. This is a general statement based on present laws and their interpretation. Individual circumstances may vary and you should consult a professional tax adviser. EXCLUSIONS There is no requirement to prove fault before you can receive your benefit or to wait for the outcome of lengthy legal proceedings. There are however some exclusions and limits on the benefits: The maximum benefit paid for all injuries caused by the same accident is $7,500 on the $25,000 level of cover and $15,000 on the $50,000 level. Benefits are not paid for injuries or death that result from: intentional self-injury; your involvement in a criminal act; war, hostilities, civil commotion, terrorism or insurrection; accidents which occur on or before the cover commencement date; or accidents which occur outside Australia. WHEN YOUR COVER CEASES Cover ceases on the first of the following occurring: your death; when you turn 85; if you don t pay your premium; when the total of all benefits paid reaches your level of cover amount; or if you supply a written request to cancel your policy. COOLING OFF PERIOD When you receive your policy documents from us, you have 30 days to check whether the policy meets your needs. Within this time you may cancel your policy by contacting us and receive a full refund of any money paid provided you have not made a claim. INFORMATION ABOUT YOUR POLICY You will receive a Policy Document (which contains your Policy Schedule and the Policy Wording) once your application has been processed, with full details of your cover. The information contained in this Combined Product Disclosure Statement and Financial Services Guide is important and should be read carefully, and kept in a safe place. Copies of any of the policy documents are available on request. This Product Disclosure Statement applies to all new sales of HCF Personal Accident Insurance from 29 November 2018 and to existing HCF Personal Accident Insurance customers from 29 December YOUR COVER IS PROVIDED BY HCF LIFE Personal Accident Insurance is issued by HCF Life Insurance Company Pty Limited (HCF Life), a subsidiary of The Hospital Contributions Fund of Australia Limited (HCF) and will not have a surrender value at any time. HCF is a not-for-profit health fund that has been looking after Australians since HCF and HCF Life are each responsible for the entire contents of this Combined Product Disclosure Statement and Financial Services Guide. Information in this Product Disclosure Statement that is not materially adverse is subject to change from time to time. Updated information is available at hcf.com.au/life-insurance or by contacting us on Free paper copies are available on request. PROTECTING YOUR RIGHTS If you have a complaint about your policy, please contact our Policy Service Team on and we will attempt to resolve it promptly. If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides a fair and independent financial services complaint resolution process that is free to consumers: Call: (free call) Visit: afca.org.au info@afca.org.au Write: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC November 2018

4 FINANCIAL SERVICES GUIDE HCF is licensed to provide general advice about life and general insurance products, as well as arrange for the issue of life and general insurance products. OUR PRIVACY STATEMENT HCF Life is committed to best practice privacy protection. This Financial Services Guide provides information about the services provided by HCF in relation to Personal Accident Insurance and is designed to assist you in deciding whether to use any of these services. It contains information about remuneration paid to HCF and its staff for the services offered and how complaints against HCF in relation to these services are dealt with. If HCF offers or arranges to issue you Personal Accident Insurance we will provide you with a Product Disclosure Statement relating to that product where required. The Product Disclosure Statement sets out the significant features of the product and will assist you to compare and make informed decisions about the product. HCF s Australian Financial Services Licence (Number ) (AFSL) authorises HCF to provide general advice about, and arrange the issue of, both life and general insurance products. The life insurance products are issued by HCF Life Insurance Company Pty Limited (HCF Life). HCF Life is a wholly owned subsidiary of HCF and acts on its own behalf. When we issue you with a policy, we do so under a binder that authorises us to enter into that contract of insurance on behalf of the insurer. The premiums for the life insurance products are paid to HCF Life. HCF receives commission from HCF Life for their sale of 40% of the first year s premium plus an additional commission of 80% of HCF Life s underwriting profit each year calculated as premiums less claims and expenses. HCF s staff receive an incentive depending on the annual premium of these products which they sell. This will not exceed 20% of the first year s premium. HCF is a not-for-profit health fund and all of the income it receives is applied for the benefit of its members. HCF provides general advice about the suitability of these products for the needs of members. This means we do not take account of individual objectives, financial situation or needs. You should, before acting on that advice, consider the appropriateness of the advice, having regard to your objectives, financial situation or needs. Please read the Product Disclosure Statement before deciding to purchase any of these products. HCF holds professional indemnity insurance that complies with the compensation requirements of Section 912B of the Corporations Act. This includes cover for claims in relation to the conduct of representatives and employees who no longer work for HCF but who did at the time of the relevant conduct. Should you have a complaint about any of the services we offer in this Financial Services Guide please contact us on If we have not resolved your complaint within 45 days or you are not satisfied with our response, you can contact the Australian Financial Complaints Authority (AFCA). AFCA is an independent body available free of charge to consumers and can be contacted at: Call: (free call) Visit: afca.org.au info@afca.org.au Write: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC November 2018 We collect your personal information including sensitive information such as health information from you and/or the policy owner who is responsible for your policy and/or from other third parties detailed in the HCF Privacy Policy (which covers HCF Life), so we can: Comply with applicable laws Manage our relationship with you Provide life insurance related products and services to you (including through third parties) Manage and pay claims and benefits Assess your life insurance and related needs Investigate fraudulent or improper claims and assess risks Research and develop products, services and benefits that may better serve your needs Assess your possible interest in and tell you about other HCF products and services Administer our business and deal with complaints. The types of organisations and individuals we disclose personal information to include: Third party organisations who deliver services on our behalf or to us, some of whom may be located overseas Research companies contracted to us to ask your opinion on improving our service, benefits or product offerings Other insurers or reinsurers Government including law enforcement agencies Related HCF companies The named policy owner who has your authority Any other authorised individual. If you do not provide the personal information we request, we may not be able to provide you with our products or services. You can ask us at any time to stop direct marketing to you by ing service@hcf.com.au or calling For more information about the personal information we collect and how we handle it, how to access and correct your personal information or how or to make a complaint and how we will respond to complaints, please read the HCF Privacy Policy. To view the HCF Privacy Policy: Visit hcf.com.au/privacy Visit your local branch. All new policy owners should ensure that all members on the policy are made aware of the HCF Privacy Policy. LIFE INSURANCE CODE OF PRACTICE HCF Life is a member of the Financial Services Council and we are bound by its Life Insurance Code of Practice which sets out the Australian life insurance industry s key commitments and obligations to customers. Further information is available at fsc.org.au 6 7

5 START ENJOYING THE BENEFITS ONLY INSURANCE CAN OFFER JOIN TODAY APPLYING FOR INSURANCE IS EASY To apply, all you need to do is: 1. Call, visit a branch or go online to complete your application 2. Leave the rest to us. GO TO hcf.com.au/ life-insurance HCF House 403 George Street, Sydney NSW 2000 Postal Address: GPO Box 4242, Sydney NSW 2001