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Life insurance claims FAQs

Frequently asked questions

Term Life policies with no optional Total and Permanent Disablement (TPD) or Living Insurance benefits attached, Standalone Total and Permanent Disablement policies and Standalone Living Insurance policies:

If we pay the entire sum insured under the policy, the policy will cease. If we pay a partial benefit, then the sum insured under the policy will be reduced by the lump sum amount paid and will continue, as long as premiums are paid.

Term Life policies with optional Total and Permanent Disablement (TPD) or Living Insurance benefits attached:

Where a Term Life policy has an optional TPD benefit, or a Living Insurance benefit attached, the payment of the TPD benefit or the Living Insurance benefit will reduce the sum insured of all benefits by the lump sum amount paid.

Income Protection policies

For Income Protection, your policy remains in force, so you will stay insured, and your income protection premiums will be waived whilst we pay you a monthly benefit. Premiums will recommence automatically once your claim ceases.

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.