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.

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.

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.

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.

An exclusion is a condition, event or circumstance that your insurance policy does not cover. Understanding your exclusions helps you know exactly when your insurance will - and won't - pay a claim.

An excess is the amount you agree to pay towards an eligible claim before your health insurer contributes the remaining approved costs.