BT Australia Life Insurance & Income Protection
BT (formally known as Banker’s Trust) has been helping Australians prepare for their best financial futures since 1969. As a part of the BT Financial Group, the wealth management arm of the Westpac Group, BT Australia specialises in providing insurance, superannuation and investment solutions.
Prior to providing Australians with financial services, BT (a subsidiary of Banker’s Trust Company of New York) was owned by Deutsche Bank and Principal Financial Group. Since Westpac acquired BT from Principal in 2002 and St George’s merger with Westpac in 2008, the BT Financial Group is now one of Australia’s largest wealth management businesses with over $144 billion in funds under management and administration. As of October 2013, BT Australia had over 1 million policies in force.
BT Australia can help with:
- Term Life Cover
Helps protect and provide for your family in the event of your death by providing your beneficiaries with a lump sum payment. BT’s Term Life Cover includes automatic inflation increases in benefits provided for no extra-cost, guaranteed upgrades for existing policies, financial planning assistance, counseling for your family in times of grief, and will also cover the costs of funerals.
- Total and Permanent Disability (TPD) Cover
If you’re sick or injured and are likely to never work again, BT’s TPD Cover offers financial assistance so you can keep up with your day-to-day expenses, medical bills, rent or mortgage payments, and can also be used to cover rehabilitation costs.
- Living Insurance
Known as BT’s Trauma Insurance policy, Living Insurance pays a lump sum in case a critical illness or other medical condition. These include cancer, coma, heart conditions, or loss of limbs. These funds can help alleviate the financial stress caused by medical bills and/or rehabilitation, so you can focus on the most important thing – recovery. Cover includes automatic inflation increases in benefits provided for no extra-cost, guaranteed upgrades for existing policies, financial planning assistance, child support benefit, counselling for your family in times of grief, and will also cover the costs of funerals.
- Income Protection
If you’re sick or injured and unable to work for an extended period of time, BT can replace up to 80% of your monthly income until you can get back on your feet again. You can use it to pay rent or mortgage payment, living and medical expenses, education costs and more. Cover includes partial disability assistance, elective surgery benefit, waiver of premiums in certain circumstances, and the policy can also pay your compulsory superannuation contributions while you are unable to work.