AMP Elevate Income Protection Insurance

AMP offers five types of policy in the AMP Elevate Income Protection insurance product range. These polices allow you to claim up to 75% of your income in the form of a monthly payment if you are unable to work for a period of time due to illness or injury, so that you can pay your ongoing living expenses.

• The Income Insurance, Income Insurance Plus and Income Insurance Premier Plans offer a range of basic and additional income protection features. Which plan is best for you will depend on your circumstances and budget.
• The Income Insurance Senior Plan is only available as a conversion from en eligible existing plan once your policy expires (at age 60 or 65), allowing you to extend your cover to age 70.
• The Income Insurance Superannuation Plan is specifically designed to offer you the tax and cash flow advantages of holding your income protection policy within your SMSF or an eligible AMP superannuation platform.

Product Features

The benefits of your AMP Elevate Income Protection Insurance will vary depending on your choice of plan. They may include:

• Assistance with rehabilitation expenses, to help you adapt to a disability or return to work.
• The payment of benefits if you become partially or totally disabled as a result of surgery, even if the procedure was elective or cosmetic.
• The option to freeze your premiums at the same level as you paid in the previous year. This will reduce the amount of your insurance.
• The automatic waiver of premiums on your income protection and any other AMP insurance on the same schedule while you are receiving payments following a successful claim.
• The option to continue your cover by paying reduced premiums if you are unemployed for a while. During this time you will not be able to make a claim, but you can reinstate your policy without providing medical information once you return to work.

For full details of AMP Elevate life insurance products you can download the Product Disclosure Statement here.