AMP Elevate insurance. Why choose AMP Elevate insurance?

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1 AMP Elevate insurance Why choose AMP Elevate insurance?

2 helps to protect the things that you value most your family and your health and wellbeing. AMP is Australia s favourite for insurance 1 and right now we re giving you even more reasons to choose Elevate Value for Money Policyholder Choice Awards WINNER 2017 SELF MANAGED SUPER FUND AWARDS 2017 INSURANCE SMSF MEMBER WINNER 1 Favourite for personal insurance Largest market share of total in force annual premium, individual business, Strategic Insight, June Life Company of the Year, 2016, Australian and New Zealand Institute of and Finance (ANZIIF). AMP voted winner of CoreData SMSF Service Provider Awards in the SMSF Member Category, Winner, Value for Money 2017, Policyholder category, AFA Consumer Choice Award.

3 Contents Life insurance 2 Trauma insurance 5 Total and permanent disability insurance (TPD) 8 Income insurance 11 Business expenses insurance 15 Available discounts 16 The information in this document is a summary of the different types of cover offered through AMP Elevate insurance and the benefits that may apply, depending on the cover you choose. For further details, ask your financial adviser for a current copy of the AMP Elevate insurance product disclosure statement.

4 Life insurance When planning for your financial future, consider how your family and dependants will cope financially if you were no longer there to support them. Will they be able to meet important financial commitments like mortgage repayments, child care or even the most basic of necessities? The facts For Australians aged years, suicide, poisoning and heart disease are the leading cause of death for men, while suicide, poisoning and cancer of the stomach/bowel are the most common causes of death for women. 1 23% of male and 14% of female deaths in Australia were among those aged under In 2016, of workplace deaths 42% were due to a vehicle collision, 14% were due to falling from a height and 9% were due to being hit by a moving object. 2 In 2016, 92% of deaths at work involved male workers. 2 Life insurance can help secure your family s financial future. Life insurance can be tax effective FlexiLink Life insurance held within superannuation can be tax effective. You can also choose to link a non-super TPD or trauma plan to your life insurance plan by purchasing a FlexiLink TPD or FlexiLink trauma plan. FlexiLink allows you to access the advantages of life insurance under superannuation while also providing additional trauma and TPD cover, which is not subject to a condition of release under superannuation law. For more information we recommend you speak to your financial adviser. PremierLink TPD With this option the life insurance and the any occupation TPD insurance option are held under superannuation. The own occupation TPD is held outside of superannuation. This ensures that an own occupation TPD claim is paid directly to you. Premiums paid with money from super By paying premiums from a super fund, you receive a 15% tax benefit, so you only pay 85% of the premium for access to all the features. Plus you can use this saving to increase your insurance cover, or just pocket the difference. When you use super, you pay the premium annually and we ll give you the 15% tax benefit back straight away, so you won t have to wait till tax time. Life insurance benefits In the event of your death or upon diagnosis of a terminal illness, AMP Elevate Life can provide a lumpsum benefit that can contribute to: paying off the mortgage or any other debts funeral costs child care or home help, or providing an investment reserve to generate future income for your family and other dependants. 2 Did you know? In 2017, AMP paid a total of $425 million in life insurance claims. 3 1 Australian Bureau of Statistics, Causes of Death, Australia, calculated from Table 1.3, Work related traumatic injury fatalities Australia AMP Claims finalised This figure includes insurance available through superannuation products and is net of tax.

5 Life insurance benefits (continued) Benefit Description Life Life benefit Terminal illness benefit Financial plan benefit Future insurability 24-hour worldwide cover Automatic inflation Upgrade of benefits Advancement of funeral expenses Accommodation benefit (ii) Interim cover Premium freeze Provides a benefit in the event of your death. We will make an advance payment of the full life benefit if you are terminally ill and have less than 12 months to live. We will reimburse the actual cost incurred in obtaining financial planning advice (up to $2,000) for you or your dependants, within six months of a claim being paid for death or terminal illness. Allows you to purchase additional life insurance cover on an annual basis without medical underwriting, on the occurrence of certain major life and business events. You are covered 24 hours a day anywhere in the world. Your benefit automatically increases each year by the greater of 5% or the increase in the Consumer Price Index. Future improvements to your life insurance plan will be passed on to you. We will pay the lower of $20,000 or your sum insured amount in advance to cover funeral expenses. We will pay the accommodation costs of the insured person's immediate family member, up to a maximum of $150 per day for each day that you remain confined to bed and your immediate family member remains away from their home, for a maximum of 14 days. While your application for cover is being assessed, we will provide you with interim death cover at no extra cost. The interim death cover will be payable if you die within 90 days as a result of a sickness or injury that occurs during the term of the interim cover. You can maintain your current premium at the time you exercise this option. Your benefit amount will reduce each year that this option is applied. (i) Indexation must be approved by the employer for employer-supported superannuation plans. (ii) This benefit is only payable where we accept a terminal illness claim. Life Superannuation (i) Life SMSF (i) Eligibility of cover Premium structure Entry ages Expiry age (Life ) Stepped 11 to 70 next birthday Level 11 to 65 next birthday 99 (i) 75 (i) Blended 25 to 50 next birthday 99 (ii) 75 (ii) (i) Level premiums will alter to stepped premiums from the first renewal date after age 70 or after an earlier age requested by you. (ii) Blended premiums will alter to stepped premiums from the first renewal date after age 60. Expiry age (Life Superannuation and Life SMSF ) 3

6 Life insurance optional benefits The Life, Life Superannuation and Life SMSF can provide the following optional benefits, which can be purchased for an additional premium: Optional benefit Description Life Total and permanent disability (TPD) Activities of daily living total and permanent disability insurance Trauma Business solutions life Premium waiver Children s trauma PremierLink TPD FlexiLink Provides a lump-sum payment if you become totally and permanently disabled. TPD insurance can also be linked to a life insurance plan under our FlexiLink TPD plan. Provides a benefit if you become totally and permanently unable to perform at least two of the listed activities of daily living, or suffer significant cognitive impairment. Provides a lump-sum payment if you suffer from any of the 44 trauma events (Trauma ) or 55 trauma events (Trauma Plus ). Trauma insurance can also be linked to a life insurance plan under our FlexiLink Trauma and FlexiLink Trauma Plus plans. Allows you to apply each year for increases to your business insurance benefit amount, without the need for medical underwriting. You do not have to pay any life insurance premiums up until age 65 while remaining totally disabled. Additionally, if you become involuntarily unemployed you do not have to pay premiums for three months. Allows you to cover up to five of your children for death, terminal illness and a wide range of trauma events. Refer to the AMP Elevate insurance product disclosure statement for the full list of trauma events covered. Provides tax deductibility of premiums and ensures claim proceeds are paid directly to you. Allows you to access the advantages of life insurance under superannuation while also providing additional trauma or TPD cover, which is not subject to a condition of release under superannuation law. Life Superannuation Life SMSF 4

7 Trauma insurance Suffering a trauma can be an unfortunate reality. The impacts of traumas can change people s lives forever. Financially there may be a number of unforeseen expenses incurred that magnify the issue and delay recovery. Trauma insurance provides a lump sum in the event that you suffer from one of the trauma events listed in AMP s trauma insurance plans. The AMP Elevate Trauma and Trauma Plus provide benefits if defined trauma events occur, including heart attack, cancer and stroke. Trauma Plus provides more comprehensive cover, including benefits for pre and early cancerous conditions. Trauma pays a lump-sum benefit that can be used for: rehabilitation and recovery costs refitting your home or relocating to more suitable accommodation paying outstanding debts, or employing a professional carer, or to enable your partner or family to reduce their working hours to look after you. Did you know? In 2017, AMP paid a total of $108 million in trauma insurance claims. 1 The AMP Elevate Trauma Plus gives you comprehensive cover for an additional 11 conditions that are not available in the Trauma. Trauma insurance benefits AMP Elevate trauma insurance plans provide you with the following benefits: Benefit 24-hour worldwide cover Financial plan benefit Upgrade of benefits Interim cover Accommodation benefit Future insurability Premium freeze Automatic inflation Description You are covered 24 hours a day anywhere in the world. We will reimburse the actual cost incurred in obtaining financial planning advice (up to $2,000) for you or your dependants, within six months of a claim being paid for death or terminal illness. Future improvements to your trauma plan will be passed on to you. Gives you conditional protection for certain accidental trauma events, for a specific period of time, while we are assessing your application. We will pay you the accommodation costs of an immediate family member. We will pay up to a maximum of $150 per day for each day that you remain confined to bed and your immediate family member remains away from their home, for a maximum of 14 days. You can purchase additional trauma cover on an annual basis without medical underwriting, on the occurrence of certain major life and business events. You can maintain your current premium at the time you exercise this option. Your benefit amount will reduce each year that this option is applied. Your benefit automatically increases each year by the greater of 5% or the increase in the Consumer Price Index. 1 AMP Claims finalised This figure includes insurance available through superannuation products and is net of tax. 5

8 Trauma Trauma covers the following trauma events: Type of payment Benefit Provides a benefit if you suffer from one of the following trauma events: Full payment Partial payment (i) Subject to a 90 day qualifying period. Advanced diabetes Alzheimer s disease and other dementias Aplastic anaemia Benign brain tumour Blindness Cancer (i) Cardiac arrest Cardiomyopathy Chronic kidney failure Chronic liver disease Coma Coronary artery bypass surgery (i) Deafness Diplegia Encephalitis Adult insulin dependent diabetes (i) Angioplasty Heart attack (i) Heart valve surgery Hemiplegia Loss of capacity for independent living Loss of limbs Loss of limbs and sight Loss of speech Lung disease Major head injury Major organ transplant Medically acquired HIV infection Motor neurone disease Multiple sclerosis Muscular dystrophy Occupationally acquired HIV infection Paraplegia Parkinson s disease Pneumonectomy Primary pulmonary hypertension Quadriplegia (also defined as tetraplegia) Severe burns Severe rheumatoid arthritis Stroke (i) Surgery of the aorta Triple vessel angioplasty Blindness Medical condition Heart attack (other) (i) requiring life support Deafness Trauma Plus Trauma Plus covers the following trauma events in addition to the events covered by Trauma : Type of payment Benefit Provides a benefit if you suffer from one of the following trauma events: Partial payment Loss of a limb Cancer early payment (subject to a 90 day qualifying period) Melanomas Prostate tumours Carcinoma in situ of the penis Carcinoma in situ of one or both testes Carcinoma in situ of the perineum Carcinoma in situ of the breast Carcinoma in situ of the vulva, vagina or fallopian tube Carcinoma in situ of the cervix Carcinoma in situ of the ovary Carcinoma in situ of the uterus Eligibility to apply Trauma Trauma Plus Premium structure Entry age Expiry age Premium structure Entry age Expiry age Stepped 16 to 65 next birthday 99 (i) Stepped 16 to 60 next birthday 99 (i) Level 16 to 60 next birthday 99 (i)(ii) Level 16 to 60 next birthday 99 (i)(ii) Blended 25 to 50 next birthday 99 (i)(iii) Blended 25 to 50 next birthday 99 (i)(iii) (i) On the first renewal date after age 70 only the loss of capacity for independent living trauma event applies. (ii) Level premiums will alter to stepped premiums from the first renewal date after age 70 or after an earlier age requested by you. (iii) Blended premiums will alter to stepped premiums from the first renewal date after age 60. 6

9 Trauma insurance optional benefits AMP Elevate trauma insurance plans provide the following optional benefits, which can be purchased for an additional premium: Optional benefit FlexiLink Trauma Total and permanent disability Business solutions trauma (i) Children s trauma (i) Trauma reinstatement (i) (i) Also available through FlexiLink. Description Allows you to attach trauma cover outside of the superannuation environment to life insurance cover held within super. Provides a lump-sum payment if you become totally and permanently disabled. Allows you to apply each year for increases to your business insurance benefit amount (up to allowable maximums), without the need for medical underwriting. Allows you to cover up to five of your children for death, terminal illness and 40 trauma events (medical underwriting may be required). Refer to the AMP Elevate insurance product disclosure statement for the full list of trauma events. Allows you to buy back trauma insurance 12 months after we receive the trauma claim form or the date the claim is paid, whichever is the later. Trauma as an option to life insurance plan Where trauma insurance is purchased as an option on life insurance, the following optional benefits may be purchased in addition to those outlined above: Optional benefit Double trauma/ Double trauma plus Life buy back trauma (i) (i) Also available through FlexiLink. Description Trauma can be purchased as a Double trauma option/double trauma plus option. Double trauma eliminates the impact of your life insurance reducing or being cancelled in the event of a claim on the trauma option. In the event of payment of the full trauma amount, the premiums for life insurance including the premium for any attached options will be waived until the expiry of the plan. In instances where the trauma benefit amount is less than the life insurance benefit amount, the premium will be waived proportionally. Life buy back trauma option provides an opportunity to buy back your life insurance benefit 12 months after we receive the trauma claim form or the date the claim is paid, whichever is the later. 7

10 Total and permanent disability insurance (TPD) The possibility of becoming totally and permanently disabled in your lifetime is more likely than many people realise. Tragically, the onset of such disability can be sudden and the financial ramifications severe. The facts A report by the Australian Bureau of Statistics estimated that 1 in 17 Australians have a severe or profound core activity limitation. 1 This means they require either occasional or continual personal assistance with basic activities of daily living, namely self-care, mobility and communication. Generally a higher proportion of women than men report having core activity restrictions associated with disability in those aged Around 7% of people aged and 16% of those aged have a disability that restricts their ability to work. 2 Among people aged under 65, accident and injury are the most common causes of disability, followed by work-related causes. 3 Long-term illness or disability is blamed for 52% of people not wanting to or not being able to work. 41% of these people find it difficult to find a job due to their illness or disability. 4 Ease the pain The AMP Elevate Total and Permanent Disability (TPD) insurance or Activities of Daily Living (ADL) TPD insurance can help you cope financially and maintain your quality of life if you become totally and permanently disabled. They can provide a lump-sum benefit that can contribute to: helping to pay for rehabilitation costs or changes to your lifestyle, such as refitting your home enabling a partner or family member to reduce their work hours to care for you paying for a professional carer providing funds to repay debts, or an investment which can create an ongoing income stream for the future. Partial TPD benefit for loss of limb or eye This feature allows for a partial TPD benefit to be paid if you suffer the total and permanent loss of the use of one hand or one foot or the entire sight in one eye. The amount payable will be the lesser of 25% of the sum insured for TPD or $500, Did you know? In 2017, AMP paid a total of $251 million in TPD insurance claims. 5 1 ABS Disability, Ageing, and Carers, Australia: December Australian Institute of Health and Welfare (AIHW) Australia s Health Australian Institute of Health and Welfare (AIHW) Australia s Health Australian Social Trends Disability and Work. 5 AMP Claims finalised This figure includes insurance available through superannuation products and is net of tax.

11 TPD insurance benefits Benefit Total and permanent disability Partial TPD benefit (i) 24-hour worldwide cover Financial plan benefit (i) Automatic inflation Upgrade of benefits Accommodation benefit (i) Day one TPD Future insurability Interim cover Premium freeze Death benefit (ii) 12-month Life buy back (iii) Description Provides a benefit if you become totally and permanently disabled and unlikely to ever work again. The definitions of total and permanent disablement will depend on whether you have the any occupation or the own occupation version of the plan. Provides a benefit if you suffer the total and permanent loss of the use of one hand or one foot or the entire sight in one eye. This benefit is the lesser of 25% of your TPD sum insured or $500,000 and is payable once only. You are covered 24 hours a day anywhere in the world. We will reimburse the actual cost incurred in obtaining financial planning advice (up to $2,000) for you or your dependants, within six months of a claim being paid for death or terminal illness. Your benefit automatically increases each year by the greater of 5% or the increase in the Consumer Price Index. Future improvements to your specific plan will be passed on to you. We will pay you the accommodation costs of an immediate family member. We will pay up to a maximum of $150 per day for each day that you remain confined to bed and your immediate family member remains away from their home, for a maximum of 14 days. We will waive the waiting period if you develop any of the 17 specified medical conditions and are totally disabled. Refer to the PDS for more information. You can purchase additional trauma cover on an annual basis without medical underwriting, on the occurrence of certain major life and business events. While your application for cover is being assessed, we will provide you with interim accident TPD cover at no extra cost. The interim accident TPD cover will be payable if you die within 90 days as a result of a sickness or injury that occurs during the term of the interim cover. You can maintain your current premium at the time you exercise this option. Your benefit amount will reduce each year that this option is applied. Advance payment of up to $10,000 if you die. 12-month Life buy back option provides an opportunity to buy back your life insurance 12 months after we pay the full TPD insurance benefit. (i) Not available on TPD cover owned by N.M. Superannuation Proprietary Limited. (ii) Only available on the TPD Superannuation or the TPD SMSF if you do not already have Life insurance cover where AMP Life is the insurer. (iii) Only available when a TPD option or FlexiLink TPD plan is linked to a life insurance plan. Eligibility to apply TPD Premium structure Entry age Expiry age Stepped 16 to 60 next birthday 99 (i) Level 16 to 60 next birthday 99 (i)(ii) Blended 25 to 50 next birthday 99 (i)(iii) (i) On the first renewal date after age 65, only the specific loss, future care and significant cognitive impairment definition applies. (ii) Level premiums will alter to stepped premiums from the first renewal date after age 70 or after an earlier age requested by you. (iii) Blended premiums will alter to stepped premiums from the first renewal date after age 60. TPD insurance optional benefits AMP Elevate TPD can provide the following optional benefits, which can be purchased for an additional premium: Optional benefit Business solutions TPD Children s trauma FlexiLink PremierLink TPD Description Allows you to apply each year for increases to your business insurance benefit amount (up to allowable maximums), without the need for medical underwriting. Allows you to cover up to five of your children for death, terminal illness and a wide range of trauma events. Provides you with flexibility in structuring your insurance, while enhancing cover. When you purchase a life insurance plan, FlexiLink allows you to attach TPD outside of the superannuation environment. With this option the life insurance and any occupation TPD insurance options are held under superannuation. 9

12 TPD option for life or trauma insurance plans The TPD option can be added to a life insurance plan or trauma insurance plan. Where TPD insurance is purchased as an option on life insurance, the following optional benefits may be purchased in addition to those outlined above: Optional benefit Double TPD Life buy back TPD PremierLink TPD Business solutions TPD Description TPD can be purchased as a Double TPD option. Double TPD eliminates the impact of your life insurance reducing in the event of a claim on the option. In the event of a full TPD claim, the premiums for life insurance, including the premium for any attached options, will be waived until the expiry of the plan. Life buy back TPD option provides an opportunity to buy back your life insurance immediately after we pay the full TPD insurance benefit. Allows you to link a TPD own occupation option held outside of super to a TPD any occupation option inside of super. Allows you to apply each year for increases to your business insurance benefit amount (up to allowable maximums), without the need for medical underwriting. ADL TPD insurance benefits Benefit Total and permanent disablement 24-hour worldwide cover Financial plan benefit Automatic inflation Upgrade of benefits Future insurability Description Provides a benefit if you become totally and permanently unable to perform at least two of the listed activities of daily living or suffer a significant cognitive impairment. You are covered 24 hours a day anywhere in the world. We will reimburse the actual cost incurred in obtaining financial planning advice (up to $2,000) for you or your dependants, within six months of a claim being paid for death or terminal illness. Your benefit automatically increases each year by the greater of 5% or the increase in the Consumer Price Index. Future improvements to your Activities of Daily Living Total and Permanent Disability will be passed on to you. You can purchase additional TPD cover on an annual basis without medical underwriting, on the occurrence of certain major life events. Eligibility of cover ADL TPD Premium structure Entry ages Expiry age Stepped 16 to 65 next birthday 99 Level 16 to 60 next birthday 99 (i) Blended 25 to 50 next birthday 99 ( ii) (i) Level premiums will alter to stepped premiums from the first renewal date after age 70 or after an earlier age requested by you. (ii) Blended premiums will alter to stepped premiums from the first renewal date after age

13 Income insurance The inability to earn your regular income due to an injury or sickness can be financially devastating for you and your family. Income insurance can provide you with a replacement income stream if you become totally disabled or are recovering from an injury or sickness. The facts For Australians aged under 65 years, accident and injury are the most common causes of disability, followed by work-related causes. 1 In 2015, 1 in 12 people had to see a GP after hours and just over 1 in 4 Australians had to see a medical specialist. 2 1 in 10 people were admitted to hospital in 2015 and as with other health services, females (1 in 6) are slightly more likely than males (1 in 10) to be admitted. 2 1 in 6 people saw three or more health professionals for the same condition. 2 Benefits Income insurance benefits can help pay for day to day living expenses, such as food, utility bills, rent or home maintenance costs, mortgage or other debt repayments. You can be insured for up to 75% of your income (net of any business expenses and before tax). 3 You can also choose to insure 100% of Superannuation Contributions Option (up to 15%). 4 Available plans AMP has the following types of income insurance which may suit a range of different needs: Income Premier Income Plus Income Income Senior (only available as a conversion from an eligible plan) Income Superannuation Income SMSF PremierLink IP StandardLink IP. Eligibility of cover 4,5 Premium structure Entry ages Expiry age Stepped and level 18 to 55 next birthday 60 Stepped and level 18 to 60 next birthday 65 or 70 PremierLink IP Allows you to enhance your benefits to be equivalent to the Income Premier. The enhanced definitions and additional benefits are linked to your income insurance plan and are held on a separate policy outside of superannuation. StandardLink IP Allows you to enhance your benefits to be equivalent to the Income. The enhanced definitions and additional benefits are linked to your income insurance plan and are held on a separate policy outside of superannuation. Income protection can be tax effective By paying premiums annually from a super fund you choose, you receive a 15% tax benefit straight away, so you only pay 85% of the premium. Plus you can use this saving to increase your insurance cover, or just pocket the difference. Did you know? In 2017, AMP paid a total of $327 million in income insurance claims. 6 1 Australian Institute of Health and Welfare (AIHW) Australia s Health Australian Bureau of Statistics, Patient Experiences in Australia: Summary of Findings, Restrictions may apply according to income levels and occupation. 4 Not applicable for the Income Senior. 5 Dependent on the occupation categories and benefit period selected. 6 AMP Claims finalised This figure includes insurance available through superannuation products and is net of tax. 11

14 Income insurance benefits AMP Elevate income insurance plans provide you with the following benefits: Included benefits Benefit description Income Premier Total disability hours, income and duties based Total disability duties based Partial disability hours and duties based Partial disability duties based Automatic inflation Interim cover Leave without pay continuation (i) Premium freeze Recurring disability Right to convert 730 day waiting period to 90 day waiting period Right to take out an Income Senior (iii) Upgrade of benefits Waiver of premium 24-hour worldwide cover Attempted Return to work during the waiting period (i) Not available for occupation category F. (ii) Depends on your benefit period. (iii) Occupation categories MP, AA and A only. Provides a total disability benefit if you have a reduction in duties, hours or income due to sickness or injury. Provides a total disability benefit if you cannot do one or more important duties of your occupation. Provides a partial disability benefit if you have a reduction in duties or hours due to sickness or injury. Provides a partial disability benefit if you have returned to work for 7 out of 12 days after being totally disabled and you cannot do one or more important duties of your occupation. Your benefit automatically increases each year by the greater of 3% or the increase in the Consumer Price Index (CPI). While we are assessing your application you will be covered for total disability caused by accidental injury. Your cover remains if you are on leave without pay. Your benefit entitlements may change. Allows you to maintain your current premium by reducing your benefit amount. Allows you to recommence an earlier claim, if you suffer a relapse within 6 or 12 months (ii), without the waiting period applying again. 730 day waiting period may be reduced to 90 days on cancellation of person insured s group insurance policy. If you are classified as an MP, AA, or A occupation, you may be entitled to take out an Income Senior. Future improvements to your specific Income plan will be passed on to you. Waives your premiums for this plan and any other plans that are listed on your insurance schedule where you are the life insured, when you are being paid a benefit. You are covered 24 hours a day anywhere in the world. Allows you to return to work for a particular number of consecutive days during the waiting period, without the waiting period starting again. Income Plus Income Income Super Income SMSF PremierLink IP Income Senior 12

15 Included benefits Benefit description Income Premier Elective or cosmetic surgery (iv) We will pay you the Total disability benefit if you are totally disabled due to elective or cosmetic surgery. Income Plus Income Income Super Income SMSF PremierLink IP Income Senior Return to work bonus Rehabilitation expenses Specific injuries and sicknesses Unemployment continuation benefit (i) Death Family carer s income Family member s accommodation Home coming costs Nursing care Rehabilitation programme Special care Unemployment premium waiver Provides you with an additional benefit if you have participated in an approved rehabilitation programme for at least three months and have since returned to work. A benefit that reimburses you for the costs of rehabilitation programme expenses and equipment costs. Pays you a benefit for a specified period of time, if you suffer a specific injury or sickness, even if you are able to work. Your cover remains if you are unemployed. Your benefit entitlements may change. A benefit that pays you six times your benefit amount upon death to a maximum of $60,000. We will pay a benefit if an immediate family member ceases employment to care for you while you are totally disabled. We will reimburse accommodation expenses if an immediate family member has to stay more than 100kms away from home to be with you because of your total disablement. We will reimburse the immediate family member for accommodation expenses up to $300 per day to a maximum of $10,000. We will pay your transportation costs if you are totally disabled away from home and have to return to your place of residence because you are totally disabled. Pays you a benefit if you require the continuous full time care of a registered nurse during the waiting period. Provides you with an additional benefit if you are participating in an approved rehabilitation programme. Pays you a benefit if you require the continuous full time care of a registered nurse when being paid total disability benefits. If you become involuntarily unemployed we will waive your premium for up to three months. Full benefit where no appropriate work is available (v) If you are able to return to work after being disabled, but there is no appropriate work available, we will not reduce the benefit amount payable. (i) Not available for occupation category F. (ii) Depends on your benefit period. (iii) Occupation categories MP, AA and A only. (iv) Not available for occupation categories BY, CY and DY. (v) Not available for C rated mining industry occupations. 13

16 Income insurance optional benefits AMP Elevate income insurance plans can provide the following optional benefits, which can be purchased for an additional premium: Optional benefit Description Income /Income Superannuation / Income SMSF Increasing claim Accident lump sum Occupationally acquired HIV, Hepatitis B or C Cover boost Accelerated accident Superannuation contributions Indemnity PremierLink IP StandardLink IP Your benefits will increase each year while you are on claim, in line with the CPI. Pays a nominated lump sum if, due to an accident, you die or suffer certain injuries within one year from the date of the accident. Pays a lump sum if you become infected with HIV, Hepatitis B or Hepatitis C as a result of an occupational incident. Available only to medical doctors, dentists and surgeons. You can increase your benefit by up to 20%, every three years, before age 55 and without further health evidence (only for specific occupations). Pays a daily benefit amount if, during the waiting period, an accidental bodily injury causes you to be totally disabled for more than three days in a row. You can insure 100% of your Superannuation contributions. The benefit amount during a claim is the lesser of the benefit amount or your average monthly income over the three years prior to the claim. Selecting this optional benefit reduces your premium. Allows you to enhance your benefits to be equivalent to the Income Premier. The enhanced definitions and additional benefits are linked to your income insurance plan and are held on a separate policy outside of superannuation. Allows you to enhance your benefits to be equivalent to the Income. The enhanced definitions and additional benefits are linked to your income insurance plan and are held on a separate policy outside of superannuation. (i) (ii) (iii) Income Plus /Income Premier (i) Available to the Income Superannuation and Income SMSF through PremierLink IP. (ii) Income Superannuation and Income SMSF are only available as indemnity. (iii) Not available with Income. 14

17 Business expenses insurance The AMP Business Expenses is designed to pay for the fixed costs of running your business in the event that you become totally or partially disabled due to an injury or sickness. It provides a benefit that you can use to pay for: expenses related to your business premises services such as electricity, gas and water salaries and related costs of non-income producing employees business insurance accounting fees professional subscriptions regular advertising, or bank fees and account transaction fees. Being able to pay for these can help ensure that your business stays operational while you are recovering from your injury or sickness. Note: We may reduce the amount we pay if you earn money from the business, or your share of the business earns money, during a period for which we are paying you a benefit. Business expenses insurance benefits The AMP Business Expenses provides you with the following benefits: Benefit Total disability benefit duties based Partial disability benefit duties based Attempted return to work during the waiting period Recurrent disability Death 24-hour worldwide cover Description (i) Provides a benefit if you are unable to work due to sickness or injury. Pays a benefit if you can only work in a reduced capacity due to sickness or injury, after a specified period of total disablement. Allows you to return to work for up to five days during the waiting period, without the waiting period starting again. A benefit that allows you to recommence an earlier claim, if you suffer a relapse within six months, without the waiting period applying again. A benefit that pays your beneficiaries six times your benefit amount upon death, up to a maximum of $60,000. You are covered 24 hours a day anywhere in the world. Benefit Waiver of premium Automatic inflation Medical locum cover Upgrade of benefits Elective or cosmetic surgery Premium Freeze Interim cover Description (i) This benefit waives your premiums for this plan, or any other plans that are listed on your insurance schedule where you are the life insured, when you are being paid a benefit. Your benefit automatically increases with the Consumer Price Index. Where you are a medical practitioner or dentist, the net cost of a medical locum (cost less earnings) is an allowable business expense. Future improvements to your Business Expenses will be passed on to you. We will pay you the total disability benefit if you are totally disabled due to elective or cosmetic surgery. Allows you to maintain your current premium by reducing your benefit amount. While we are assessing your application you will be covered for total disability caused by accidental injury. (i) For the full terms and conditions of any of the benefits listed above, ask your adviser for a current copy of the AMP Elevate insurance product disclosure statement. What your financial adviser can do for you As a business owner, an injury or sickness may seriously inhibit your ability to contribute to your business and maintain its regular income. In some instances, it may even threaten the ongoing viability of your business. Your financial adviser can help you gain a clearer understanding of the risks that could affect your business if you are unable to work. This will allow you to review your business expense needs and the level of cover you require. Ask your financial adviser about business expenses insurance today. 15

18 Available discounts AMP Elevate insurance customers can benefit from a number of discounts to suit their circumstances. Contact your adviser to see if you could qualify and whether discounts may be combined. Healthy Start discount AMP believes in protecting the health and wellbeing of all Australians. The AMP Elevate Healthy Start discount encourages people living a healthy lifestyle today, to protect their tomorrow. For a limited time those who join AMP and meet basic criteria, could receive a five year 10% discount on Elevate Life and TPD premiums. 1 Multi plan discount For those who meet certain criteria and bundle Elevate Income and/or Business expenses insurance plans with a Life, Trauma or TPD insurance plan, we ll discount their Life, Trauma and TPD premiums by 10% for as long as they meet the eligibility criteria (ie potentially for the life of their plan). Business Rewards Anyone in a business relationship or owners of SMSFs, where a minimum of two people apply at the same time can benefit from a 5% discount on new Elevate Life, TPD and Trauma plan premiums and the plan fee. Not available on replacement business. Workplace Rewards and Family programme s set up under this programme are allowed a discount for new (ie not replacement) policies. Large case discount Elevate Life, TPD, Trauma, Income protection and Business expenses premiums may at AMP s discretion, have a discount applied based on the amount insured. Trauma overlap discount Purchase TPD insurance as an option, on a plan that includes Trauma cover, and we ll apply a 7.5% discount on the TPD option s premium. 1 The AMP Elevate Healthy Start discount will be available between 2 December 2017 to 2 December However, we reserve the right to change elements of the discount over the 12-month campaign period, including switching it off, extending it, or replacing it with an alternate offer. 16

19 Choose Australia s favourite for insurance 2 and let AMP help you own your tomorrow. 2 Favourite for personal insurance Largest market share of total in force annual premium, individual business, Strategic Insight, December Life Company of the Year, 2016, Australian and New Zealand Institute of and Finance (ANZIIF). AMP voted winner of CoreData SMSF Service Provider Awards in the SMSF Member Category, Winner, Value for Money 2017, Policyholder category, AFA Consumer Choice Award.

20 Contact us phone web amp.com.au What you need to know Any advice in this document is general in nature and is provided by AMP Life Limited (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters. Before making a decision about the product you should consider the AMP Elevate insurance product disclosure statement available from AMP at amp.com.au/elevate or by calling The issuer of AMP Elevate insurance (with the exception of the Life Superannuation and the Income Superannuation ) is AMP Life. The issuer of the Life Superannuation and the Income Superannuation is N.M. Superannuation Proprietary Limited (NM Super). AMP Life and NM Super are part of the AMP group and can be contacted on or askamp@amp.com.au. If you decide to purchase or vary a financial product, AMP Life and/or other companies within the AMP group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details /18