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Helps cover the medical and lifestyle costs incurred after suffering a specified medical event, such as cancer, a stroke or heart attack.

Living Insurance is available through BT Protection Plans and pays a lump sum if you suffer a specified medical condition such as cancer, a stroke or a heart attack.

You can apply for cover up to $2 million, however, for some occupations we may limit the maximum amount of cover.

Of course, like all insurance, some exclusions, limits and conditions apply.  Read the BT Protection Plans PDS to see if Living Insurance is right for you.

Some of the key features include:

  • Flexible levels of cover. You have the option to increase or decrease cover to ensure the policy continues to suit your needs, no matter what life stage you're at
  • Living Insurance can be added to Term Life insurance or taken as a standalone policy
  • Guaranteed renewable (as long as premiums are met) and your sum insured automatically increases annually in line with any CPI changes, unless you request otherwise
  • Apply from age 15 to 59. Cover can continue to age 75 (see 'Features' for age conditions)
  • Dedicated consultant can make any claims experience as easy as possible
  • Loyalty benefit if you hold a policy for 3 or more years
  • Worldwide cover - 24 hours a day
  • 5% multi-policy discount applies if you’re covered by more than one eligible BT Protection Plans policy.

Entry age ranges and conditions

The maximum age you can apply for a policy depends on the type of premium structure you choose for your policy. BT Protection Plans provide the following premium structures for Living Insurance:

  • Stepped premium - if you're aged 15 to 59
  • Level 65 premium - if you're aged 15 to 59
  • Level 55 premium - if you're aged 15 to 49.


See 'Fees' for more information on premium structures.

No matter what your premium structure, cover can continue to age 75. However, some benefits may end prior to this date.


Benefits included with BT Protection Plans Living Insurance include:

  • Advancement Benefit - you’ll receive a partial payment of your Living Benefit for additional specified medical events
  • Financial Planning Benefit - you’ll receive up to $5,000 for the preparation of a financial plan following the payment of a Death, Terminal Illness, Total and Permanent Disablement, or Living Benefit
  • Counselling Benefit - you’ll receive up to $5,000 for a maximum of 10 days following the payment of a Death, Terminal Illness, Total and Permanent Disablement, or Living Benefit.


You can also choose Living Benefit Plus, which provides even more comprehensive cover.

There are a number of different ways to structure your premiums, depending on your needs. BT Protection Plans allow you to choose the premium structure that works best for you:

Stepped premiums - premiums are calculated each year, and will change based on increase in age and the amount of cover. The premium will generally increase every year.

Level premiums - premiums are calculated based on your age at the commencement of the policy, and will not increase each year due to age increases. When the specified period of time has elapsed, the premium will revert to a stepped premium structure until age 75.

For both stepped and level premiums, your premiums may increase in certain circumstances, such as; if your sum insured increases, with Consumer Price Index increases, and when we increase the policy fee.


BT Protection Plans also provide you with flexibility by giving you a number of different ways to pay your premiums. Premiums can be paid by direct debit, an accepted credit card, or cheque (if paying annually).

Generally, the amount of your premium depends on a number of variables, including:

  • The amount of cover, whether premiums are stepped or level, and frequency of payments
  • Any optional benefits selected
  • Your age, occupation, gender, smoking status, health and family medical history
  • Any discounts that may apply.

The premium includes a policy fee that increases by the same amount as the Consumer Price Index on 1 October each year. As at 1 October 2013, this annual policy fee was $85.50.

Making an insurance claim can be daunting, that’s why our claims team do everything they can to support you every step of the way.

Call us on 1300 551 431 Monday to Friday 8.00am to 6.30pm (Sydney time). It’s important to contact us as soon as you can and let us know what has happened to prompt your claim.

Find out more about the claims process.

Things you should know

A target market determination has been made for Protection Plans products. Please visit for any of our target market determinations.

The Insurer and Issuer is Westpac Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728, except for Term Life as Superannuation, Income Protection as Superannuation and Income Protection Assured as Superannuation, issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 as Trustee of Retirement Wrap ABN 39 827 542 991. They are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714, who does not guarantee the insurance. 

This information does not take into account your personal circumstances. Terms and conditions, and limitations and exclusions apply. Read the BT Protection Plans Disclosure Statement (PDS) to see if this insurance is right for you.