Flexible Lifetime® Protection Income Protection

AMP's Flexible Lifetime® Protection Income Protection gives you peace of mind that you will be able to pay your living expenses if you are unable to work for a while because of an injury or illness.

It pays up to 75% of your income as a monthly benefit. You can choose between basic, standard or advanced cover depending on your needs.

You can also choose whether to insure an agreed value, which allows you to set the amount of your premiums at the time you take out the policy, or an indemnity value, where your payments will be based on your income in the 12 months before you make a claim.

There are other factors which will affect the cost of your premiums and how much you can claim:

• The benefit period: how long AMP will continue to pay you if you make a successful claim. This can be 1, 2 or 5 years, or until you reach 60 or 65 if you choose a standard or advanced plan.
• The waiting period: how long you will have to wait from when you make a claim until AMP start paying your monthly benefit. This can be between 2 and 104 weeks.

Product Features

The Flexible Lifetime® Protection Income Protection policy offers a number of benefits, including:

• Help with rehabilitation in the form of additional payments towards the cost of wheelchairs, modifications to your home, or attending an approved rehabilitation program to help you get back to work.
• Assistance with transport costs if you are injured or fall ill while overseas. With the advanced policy some assistance is also available for domestic travel costs.
• Partial payments if you return to work but your disability prevents you from earning as much as before your claim.
• The option to put your policy 'on hold' for a period of time if you become unemployed. During this period you will pay a reduced premium and not be able to make a claim under your policy, but you will be able to reinstate your cover without having to provide medical information once you are back in paid employment.

For full details of AMP's Flexible Lifetime® Protection life insurance products you can download the Product Disclosure Statement here.