Protection Plans premium rate increases from 1 February 2024
Important UpdateUnfortunately the table of percentage increases included in prior communications to advisers and dealer groups contained an error. The table has now been updated and new Frequently Asked Questions (FAQ) can be found here. Please rest assured communications sent to clients have not been impacted by this error. We sincerely apologise for any inconvenience this may have caused. |
Our recent review shows that our anticipated future claims costs are higher than expected.
As a result, we have had to increase our premium rates to ensure we can continue to support your clients when they need us most at claim time.
Summary of rate changes across Protection Plans policies
Policies Impacted
Total and Permanent Disablement (TPD) and Living Insurance policies/benefits under Protection Plans.
No impact
Resources to support you with the reprice
We remain committed to ensuring your clients can continue to receive cover and peace of mind for years to come.
We have therefore created some resources to assist you - these will equip you better in navigating affordability conversations with your clients.
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Reprice Report | This report indicates your impacted clients. The first report covers clients with a review date in the month of February 2024 and will be refreshed each month thereafter. |
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Quick Reference Guide (QRG) | This guide shows you how to access the Reprice Report. |
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Frequently Asked Questions (FAQ) | This document will support you with any questions you have regarding the reprice. |
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These are the documents that your client will receive from us, informing them about the reprice. | |
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Affordability Guide for Advisers | This guide documents ways to reduce premiums and help with affordability. |
Any questions? We’re here to help
Our recently updated Contact Us page includes details for dedicated BT Life support and service teams.
Visit the new Contact Us page or call our Adviser Services team on 1300 553 764 (Monday to Friday, 8am – 6.30pm, Sydney time) if you have any questions.