BT Protection Plans: Term Life

The BT Protection Plans Term Life policies pay a lump sum if you are diagnosed with a terminal illness with less than 12 months to live. This early payment of a death benefit can help you cover medical costs and take away financial stress so you can make the most of the remaining time with your family.

A Term Life payment can also be used to pay off debts and help your family to prepare for their future without you, giving you peace of mind that they will be able to stay in your home and live the lifestyle you planned for them after you are gone. The proceeds could also be invested for an income to replace the money you would have earned or used to cover ongoing expenses such as child care or school fees.

BT Term Life policies can be structured through an SMSF or BT SuperWrap superannuation product so you can take advantage of tax efficiencies. You should seek expert advice from your financial advisor on the structuring of your life insurance policies with your superannuation as there can be some pitfalls.

Your BT Protection Plans Term Life policy can be packaged with TPD Benefit or Living Benefit in a cost-effective bundle which offers you and your family complete financial protection in the event of injury or illness.

BT Protection Plans offer a number of built-in features including inflation indexing so that your insurance will grow as the cost of living increases; the guarantee that you will be able to increase your insurance cover in future if your financial circumstances change; and a 5% discount if you take out multiple policies.

For full details of the BT Protection Plans range of life insurance products you can download the Product Disclosure Statement here.