1. Home duties IP is not available if the policy is held through superannuation.
2. General cover IP is only available in policies held through superannuation if you are gainfully employed.
3. Income Protection and Income Protection Plus policies can be owned by a trust or a business entity, in which case, the insured person must have direct control of the trust or business entity (eg the insured person is the trustee of the trust, or the partner or director of a business entity).
4. For policies held through Westpac MasterTrust (Income Protection as Superannuation): Income Protection Plus is only available if Income Linking Plus has also been selected. General cover IP and home duties IP are not available.
5. For policies held through an SMSF or Platform Super: General cover IP is only available if the insured person is gainfully employed. Income Protection Plus is only available if Income Linking Plus has also been selected. Home duties IP is not available.
This information has been prepared for use by advisers only. It must not be made available to any retail client and any information in it must not be communicated to any retail client or attributed to BT Financial Group.
The Insurer of BT Protection Plans, including BT Reserve, is Westpac Life Insurance Services Limited ABN 31 003 149 157 ('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 Westpac Securities Administration Limited ABN 77 000 049 472 ('WSAL') as trustee of the Westpac MasterTrust ABN 81 236 903 448. The Insurer and WSAL are wholly owned subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 ('the Bank'). The Bank does not guarantee payments under the insurance.
This information does not take into account any client's personal circumstances. Like all insurance, some exclusions, limits and conditions apply. Before making a decision in relation to BT Protection Plans, your client should read the BT Protection Plans Product Disclosure Statements for the full terms and conditions, and seek advice from a financial adviser to see if it's right for them.
This information is current as at 10 March 2015.
© BT Financial Group – A division of Westpac Banking Corporation ABN 33 007 457 111.