BT Protection Plans: Living Benefit

Living Benefit is BT's trauma cover policy, which provides a lump sum payment if you suffer from a specified illness or injury, such as cancer, heart attack or head trauma.

The payment does not depend on whether you are able to return to work after the trauma event, and can be used for any purpose such as to replace your income and cover your expenses while you recover, to pay off your mortgage or to make adjustments to your home.

BT Protection Plans offers two levels of trauma insurance: Living Benefit and Living Benefit Plus. Plus cover includes a wider range of events including loss of sight, paralysis, and a number of nervous system disorders like multiple sclerosis. In some circumstances such as melanoma or the loss of a limb you could receive an 'advancement benefit', or partial payment of your trauma insurance under either type of policy.

You can select Living Benefit as a standalone policy or packaged with Term Life cover. Depending on your age when you take out the policy you can pay for your Living Benefit policy with stepped or level premiums or a combination of stepped and level, as best suits your financial circumstances.

For an additional premium you can add a 'reinstatement' option to your Living Benefit policy, which allows you to buy back the amount of insurance cover which has already been paid to you after a trauma event so that you will still have some insurance cover for the future.

For full details of the BT Protection Plans range of life insurance products you can download the Product Disclosure Statement here.