Elevate PDS and plan document - Amp

1 Issuenumber , October AMPE levateinsuranceProductdisclosurestatemen tand plandocumentLife InsuranceLife insurance SuperannuationLife insurance SMSFT otal and Permanent DisabilityInsuranceTotal and Permanent DisabilityInsurance SuperannuationTotal and Permanent DisabilityInsurance SMSFT rauma InsuranceIncome InsuranceIncome insurance SuperannuationIncome insurance SMSFB usinessExpensesInsuranceThis document is issuedby Equity TrusteesSuperannuation Limited(ETSL) ABN 50 055 641 757, AFSL No. 229757as trusteeof the National MutualRetirement Fund (NMRF) ABN 76 746 741 299 and AMP Life LimitedABN 84 079 300 379 (AMP Life) and is effective 31 October 2020. AMP Life hasproudly served customersin Australia since 1849. AMP LimitedABN 49 079 354 519 has sold AMP Life to the ResolutionLife Group whilstretaininga minorityeconomicinterest.

2 AMP Limitedhas no day-to-day involvement in the management of AMP Life whoseproducts and services are notaffiliatedwithorguaranteedbyAMPL imited. AMP , AMPLife document and the insurance scheduleare your contract of insurance . Please keep them productdisclosure statementand plandocumentThis document is issuedby EquityTrusteesSuperannuation Limited(ETSL) ABN 50 055 641 757, AFSL No. 229757as trusteeof theNationalMutualRetirement Fund (NMRF) ABN 76 746 741 299 and AMP Life LimitedABN 84 079 300 379 (AMP Life) as the providerof insurance cover describedin this document and is effective 31 Life has proudlyserved customersin Australiasince LimitedABN 49 079 354 519 has sold AMP Life to the ResolutionLife Group whilstretaininga minorityeconomicinterest. AMP Limitedhas no day-to-day involvement in the management of AMP Life whoseproducts and services are not affiliatedwithor guaranteed by AMP Limited.

3 AMP , AMP Life and any otherAMP trade marks are usedby AMP Life underlicence from othercompany guarantees the performance of ETSL's or AMP Life s obligationsto customersor assumesany liabilityto customersin connection withthe products offered in this issuerThis PDS relates to a numberof separate financialproducts- insurance products issuedby AMP Life, and superannuationproductsissuedbyETSL fromtheNMRF. Theinsuranceproducts,includinginsurance products availablethroughtheNMRF arereferred to as ,TPDI nsurancePlanandIncome insurance Superannuation Plan are insurance productsissuedby AMP Life through insurance only superannuationproducts issuedfrom theNMRFby ETSL to eligibleNMRF members. Allotherplansareinsuranceproductsthatare issuedby AMP Life and AMP Life jointly take full responsibilityfor the wholeof this PDS.

4 ETSL is whollyresponsiblefor the financialproductsit issuespursuant to this PDS. AMP Life is whollyresponsibleforthe financialproducts it issuespursuant to this containedin this PDSThis PDS containsinformation aboutinsuranceplansavailablefrom AMP Life and ETSL, includingthe termsand conditionsapplicableto information in this PDS will help you to decidewhethertheseplanswill meetyour needs. It will assistyou in comparingthetypesofcoveravailableinthema rketplacebutdoesnottakeinto consideration your individualneedsand ,youshouldconsiderthe appropriatenessof this information and consulta this PDS are availableonly to existingAMPLifeCustomersreceivingthe PDS (includingelectronically)withinAustralia . AMP Life or ETSL can t accept cash orapplicationssignedand mailedfrom outsideAustralia. Moniesreceived or paid mustalways be in is a combinedPDS and plan documentIf you (or ETSL on your behalf, as a memberofNMRF) purchasean AMP Elevate insuranceplan, this PDS constitutesyour plandocument.

5 This PDS sets out the termsand conditionsof allavailableplans. The particulartermsand conditionsthat applyto your contract of insurance will dependon theplanandoption(s)you have purchasedwhichwill be set out in theinsurance to the PDSI nformationinthePDSthatisnotmateriallyadv erseinformationis subject to changeand may be updated from timeto aboutany updates that are not materiallyadverse,may be providedon of charge by contacting our CustomerContact Centre on133 identifiersABN 76 746 741 299 NationalMutualRetirementFund(NMRF)ABN 50 055 641 757 EquityTrusteesSuperannuationLimited(ETSL )AFS Licence No. 229757 ABN 84 079 300 379 AMP Life Limited(AMP Life)AFS Licence No. 233671 Some terms we use in this PDSmeans:InthisPDS,anyreferenceto:Whenwe refer toyouoryourinthis document , we re referringtothepolicy owner. DependingonYouorYourthe plan, thepolicy ownercansometimesbe theinsured personand, in the case of plansinsideSuper, will be Life ,we,our,AMP LifeortheinsurerThe personwho is advisingorassistingyou with the acquisition,variation or termination ofinsurance product disclosure statementand plan document , and anyupdates to this fundsincludinga self-managedsuperannuation fundor a SmallAPRA includingNMRFand (as trusteeofNMRF) inrespect of superannuation plansavailablethroughNMRFor theTrusteetrustee(s) of an SMSF in respect ofplansavailablethroughaself-managedsupe rannuationfundor a SmallAPRA are many termsusedwith a specificmeaning, whichwillgenerally be shownin boldin this PDS.

6 Where termsare usedinthisPDSwithaspecificmeaning,youcan findtheirdefinitionin theGlossary of termsstarting on page116. All references to super are also shownin usedSuperannuation through NMRFI ndicatesthatthebenefit/option/definition isavailableon superannuationplansissuedbyETSL, beingthe LifeInsurance Superannuation Plan, TPD InsuranceSuperannuation Plan and the Income InsuranceSuperannuation linked plan/optionIndicates that the benefit/option/definitionmay belinked to eithera superannuationplanornon-superannuationpl an. This includesFlexiLinkplansor managed superannuation fund or Small APRAS uper FundIndicatesthatthebenefit/option/defin itionisavailableon superannuationplans(SMSF plans) issuedby AMPLife to a Self managedsuperannuation fundor SmallAPRA SuperFund, beingthe Life InsuranceSMSF Plan,TPD InsuranceSMSF Planand theIncome Elevate71 Selecting your level of Income insurance andBusinessexpensesinsurance5 IntroducingAMP Elevate6 AboutAMP Elevate insurance72 Income insurance and Businessexpensesinsurance benefitsand features in detail8 What you needto knowwhenapplyingfor cover9 What you needto knowwhenapplyingfor cover97 Continuingyour insurance cover9 Whocan make an AMP Elevate application98 Whenthe plan will end9 Plan structure100 Restoringa plan13 Stepsto beinginsured101 Key information you needto know15 Whocan be an insured person102 Holdingyour plan in super16 Whocan own your insurance102 Plan membership23 What can you applyfor?

7 103 Taxation information29 Cost of insurance106 Nominating superannuation death benefitbeneficiaries29 What are insurance premiums?29 Howwe workout your insurance premium109 General termsand conditions30 Premiumstructures109 The plansin this PDS are not savingsplans31 Fees, charges and discounts109 Tax on insurance outsidesuper32 Variations110 Paying your premiums33 AMP Life's approachto claims112 Financialadviserremuneration33 Our customers'claimsexperiences113 Declarationsand consent34 Howto claim114 Significant risks35 Customersatisfaction and complaint resolution114 Your application35We re here to help115 Your Privacy35 Complaint resolution116 Glossary of terms36 AMP Elevate insurance in detail116 Glossary of general termsin this document37 AMP Elevate insurance in detail Life, TPD &Traumainsurance120 Glossary of Total and Permanent Disability(TPD)

8 insurance definitions37 AboutAMP Elevate Life insurance122 Glossary of medicalconditions40 AboutAMP Elevate Total and PermanentDisabilityinsurance129 Glossary of Income insurance definitions43 AboutAMP Elevate Traumainsurance131 Interimcover certificate46 AboutAMP Elevate Children s traumaoption48 Life, TPD and Traumainsurance benefitsandfeatures in detail65 AMP Elevate insurance in detail Income &Businessexpenses65 AboutAMP Elevate Income insuranceIntroducingAMPE levateIn this sectionwe will:Discussbeingthere for you whenyou needusIntroduceAMPE levate insuranceIntroducingAMPE levateLive life knowing that we will be there for ll be there for you when you need usLike mostpeople, you probablydon'tthinkanythingbad will ever happento somethingunexpected doeshappen, you want to protect what s important. You don t want to worry abouthow topay the bills and look after your loved AMP Elevate insurance , we can help you to have that covered.

9 What's more, if you needto make a claim, we llbethere for you every step of the 2019we paid 10,421customersand a totalof $ insurance claimsacross our entire insurance s about$ millionpaid every claimsphilosophyAt AMP Life we see our role as more thanjust paying a claim. We create tailored solutionsto help you and your familylive the best life you can shouldsomethinghappen. Whilethis may involve paying a financialbenefit, dependingonthe nature of the claimit may also involverehabilitation, workingwithyou on a returnto workprogram, or ElevateApplyingforcoverCostClaimsCustome rservice andcomplaintsLife, TPD,TraumaIncome &BusinessexpensesSuperKeyinformationGlos saryInterim covercertificateAboutAMPE levate insuranceUnderstandinginsuranceAMP Elevate insurance is designedto provide financialsecurityfor you and your offer a widerangeof cover to suit your PrivacyYour privacy is important to us.

10 See page115 for information abouthow we handleyour can changeyour mindIf we accept your application, we llsendyou aninsurance schedule. You ll have 28 days (from the day you receive yourinsuranceschedule) to checkthat yourplanmeetsyour needs. This is knownas the cooling-off it doesn t meetyour needs, or you changeyour mindfor any reason, simplycontact us to cancel long as you haven t madea claimunderyourplan, we llcancel yourplanand refundany amounts you ve paid us. Forplansprovidedthroughsuper(NMRFor an SMSF), refundsare subject to superannuation law (see page102 for moreinformation).ContactusWe re here to help. If you have any questions, pleasecontact our CustomerContact Centre or your 731 Phone03 CustomerServiceAddressPO Box 14330 MELBOURNE VIC 80017 AboutAMP ElevateApplyingforcoverCostClaimsCustome rservice andcomplaintsLife, TPD,TraumaIncome &BusinessexpensesSuperKeyinformationGlos saryInterim covercertificateWhatyou needtoknowwhenapplyingfor coverIn this sectionwe'lldiscuss:PlanstructureStepsto beinginsuredWhocan ownyour insuranceWhatyou can applyforCost of insuranceHow to claimCustomersatisfactionand complaintresolutionWhatyou needto knowwhenapplyingforcoverAMP Elevate insurance is an insurance product designedto provide financialbenefitsfor you and your familywhensomethingunexpected makean AMPE levate applicationWe accept new AMP Elevate applicationsfrom existingAMP Life customersonly.