Insurance Glossary
Insurance terms explained in plain English.
Insurance doesn't have to be complicated.
We've created this glossary to explain common insurance terms in simple, easy-to-understand language. Whether you're taking out insurance for the first time or reviewing your existing cover, this guide will help you better understand your policy and make informed decisions.
If there's a term you can't find, we're only a phone call or email away.
Accelerated
Accelerated means that your Trauma Cover or Total and Permanent Disability (TPD) benefit is linked to your Life Cover. If a claim is paid, the amount paid reduces the remaining Life Cover.
Standalone
Standalone where Trauma Cover or Total and Permanent Disability (TPD) Cover operates independently from your Life Cover. This means making a claim doesn't reduce your Life Cover benefit.
Trauma Cover
Trauma Cover pays a lump sum if you're diagnosed with a covered serious illness or suffer a specified medical event, helping you focus on your recovery without the added financial pressure.
Sum Insured
The sum insured is the maximum amount your insurer will pay under your policy if a valid claim is approved.
Cancer Cover
Cancer Cover is a simplified type of trauma insurance that pays a lump sum if you're diagnosed with a covered cancer.