Protection Plans premium rate increases from 1 February 2024

Important Update

Unfortunately 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

document alert

Policies Impacted

Total and Permanent Disablement (TPD) and Living Insurance policies/benefits under Protection Plans.


Effective Date

Policy anniversary on or after 1 February 2024.

doller circle cross

No impact

Term (death cover) and Income Protection type policies/benefits are not being repriced.


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.

 document alert  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.
 info  Quick Reference Guide (QRG)   This guide shows you how to access the Reprice Report.
 FAQ  Frequently Asked Questions (FAQ)  This document will support you with any questions you have regarding the reprice.
 letter mail

Customer Notification letter

Understanding your insurance and premiums flyer

 These are the documents that your client will receive from us, informing them about the reprice.
 affordability  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.


Back to top