Your premium is the investment you make to protect yourself, your family and your financial future. Understanding how premiums work can help you choose cover that's affordable today while continuing to provide the protection you need in the future.

The definition used in your Total and Permanent Disability (TPD) policy can have a major impact on your ability to claim. Understanding whether you have Any-Occupation or Own-Occupation Cover helps ensure your insurance aligns with your needs and expectations.

Own-Occupation is a definition used in some Total and Permanent Disability (TPD) policies. It means you may be eligible to claim if you're permanently unable to perform the duties of your own occupation, even if you could work in a different role.

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 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.

Underwriting is the process an insurer uses to assess your application and decide whether to offer cover, as well as the terms and premium that will apply.

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.

Accidental Death Cover pays a lump sum if you pass away as the direct result of an accident. It does not provide cover for death caused by illness or natural causes.

Total and Permanent Disability (TPD) Cover pays a lump sum if you become permanently unable to work due to illness or injury and meet your policy's definition of disability.

The sum insured is the maximum amount your insurer will pay under your policy if a valid claim is approved.

Policy documents are the official documents that explain how your insurance works, including what you're covered for, what's excluded, and the terms and conditions of your policy.

A payment period is the maximum length of time your Income Protection or Mortgage Protection policy can continue paying benefits while you're unable to work due to illness or injury.

Non-disclosure occurs when important information that could affect an insurer's decision is not disclosed when applying for or changing an insurance policy.

Mortgage Protection Cover provides regular monthly payments if you're unable to work due to illness or injury, helping you continue meeting your mortgage repayments and other ongoing financial commitments.

Medical Cover, also known as Health Insurance, helps pay for eligible private healthcare costs, giving you faster access to diagnosis, treatment and specialist care.

A loading is an additional premium charged by an insurer when they determine there is a higher level of risk associated with providing your insurance cover.

Life Cover pays a lump sum if you pass away or are diagnosed with a terminal illness, helping provide financial security for the people who depend on you.

A lapse occurs when your insurance policy ends because premiums haven't been paid or the policy has otherwise been cancelled. Once a policy has lapsed, your cover generally stops.

Income Cover provides regular monthly payments if you're unable to work due to illness or injury, helping you continue to meet your everyday living expenses while you recover.

A wait period is the length of time you must be unable to work before your Income Protection or Mortgage Protection benefits begin to be paid.